>>The realtor looked at our basement and told us the house is unsellable
with the basement cracks, and that we have to do something about it.
The previously mentioned $160k value is obviously meaningless until
then.<<

This is the damned screwiest thing about the real estate biz. The agents 
say, "the house is unsellable" unless the seller spends a big pile of 
money to make the agent's job easier, plus, if the house is "worth more" 
when it sells, then the agents get a bigger commission. Sounds like 
pretty damned self-serving advise. It's not much different than the 
vinyl pirates who lie to homeowners about their windows just to steal 
their good windows and sell them bad ones.

I'd like to know exactly why a house cannot be sold "as is," known 
defects and all. Sure, it may sell for less, but the seller does not 
spend a big wad of cash, and the buyer has money to make the place right 
and better meet their needs.

Here's some more great real estate agent advice:


You ought to paint this place. (one-coat spray-on, ka-ching $2,000)

Bump up curb appeal. (paint the front of the house only, plant 3 shrubs 
at the foundation, spray paint the grass green(no kidding!) ka-ching, 
$5,000)

Replace these windows. (every single window in the place worked just 
fine. ka-ching, 16,000)

This place needs a makeover. (all new vinyl siding, windows, roofing, 
spray paint the entire interior off-white. ka-ching, $30,000)


(all dollar figures are from actual get-the-house-ready-to-sell projects 
in my own neighborhood)

Isn't it clear to everyone that the vinyl pirates, building product 
manufacturers and real estate agents are all in the same boat? NO, I 
guess the American Public has been too busy watching Flip this House and 
Decorate on a Dime on cable TV. Of course a house can be sold "as is," 
the agent just has to get on the stick and do some real work for a 
change, or sell it yourself and get 6-12% more for the place.

John (burning at the edges) Leeke
www.HistoricHomeWorks.com

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