{"id":3571,"date":"2022-10-26T18:52:32","date_gmt":"2022-10-26T18:52:32","guid":{"rendered":"https:\/\/goldenkeyteam.com\/?p=3571"},"modified":"2022-10-26T18:59:56","modified_gmt":"2022-10-26T18:59:56","slug":"the-repairs-that-will-help-sell-your-house-in-a-cooling-market-www-wsj-com-10-10-22","status":"publish","type":"post","link":"https:\/\/goldenkeyteam.com\/index.php\/2022\/10\/26\/the-repairs-that-will-help-sell-your-house-in-a-cooling-market-www-wsj-com-10-10-22\/","title":{"rendered":"The Repairs That Will Help Sell Your House in a Cooling Market"},"content":{"rendered":"<div class=\"css-j9txcg-Box e1jyplj21\">\n<div class=\"css-1043x6s e1of74uw14\">\n<div class=\"css-7e1jt0 e1of74uw4\" data-block=\"big-top\">\n<div class=\"css-1fjwwm0-Root e1fgnxat0\">\n<div class=\"css-1ieir01-HeadlineContainer e1fgnxat4\">\n<div class=\"crawler css-bb771t-HeadlineWrapper e1fgnxat3\">\n<nav class=\"breadcrumb css-1xk85qb-BreadcrumbsWrapper e1blx2ob6\"><\/nav>\n<h2 class=\"css-h3zzna-Dek-Dek-SplitTopDek e1fgnxat5\"><span style=\"font-size: 12pt;\">More sellers are remodeling properties to avoid cutting prices, though some projects pay off more than others<\/span><\/h2>\n<\/div>\n<\/div>\n<div class=\" e1fgnxat1 css-u21k0r-Wrapper-SplitTopImage eyts7et0\" style=\"padding-left: 40px;\" role=\"img\" data-block=\"doNotPrint\" aria-describedby=\"big-top-caption\"><picture class=\"css-13zrjsc-Picture eyts7et2\"><source srcset=\"https:\/\/images.wsj.net\/im-637954\/?width=1278&amp;size=1\" media=\"(min-width: 640px)\" \/><img loading=\"lazy\" decoding=\"async\" class=\"alignleft\" src=\"https:\/\/images.wsj.net\/im-637954\/?width=1278&amp;size=1\" alt=\"\" width=\"358\" height=\"358\" aria-label=\"big top image\" \/><\/picture><img decoding=\"async\" class=\"css-1bw678a-PreviewImage eyts7et1\" role=\"presentation\" src=\"https:\/\/images.wsj.net\/im-637954?width=10&amp;height=5\" data-block=\"big-top-preview\" \/><\/div>\n<p>PHOTO ILLUSTRATION BY SAM KELLY\/THE WALL STREET JOURNAL<\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"article-container css-xforjz e105m3c34\">\n<article class=\"css-dpopmu e105m3c33\">\n<div class=\"crawler css-symnra e1jyplj20\">\n<div class=\"css-j9txcg-Box e1jyplj21\">\n<div class=\"article-byline css-192iek3-Container e1575iv85\">\n<p>By <span class=\"css-nyr2iw-AuthorContainer e1575iv83\"><a class=\"css-mbn33i-AuthorLink e10pnb9y0\" href=\"https:\/\/www.wsj.com\/news\/author\/veronica-dagher\" aria-label=\"Author page for Veronica Dagher\">Veronica Dagher<\/a><\/span><\/p>\n<div class=\"css-138j9rd-FollowButton e1575iv82\">\n<div class=\"snackbar none info\" tabindex=\"0\" role=\"dialog\" aria-describedby=\"snackbar-message\">\n<div class=\"snackbar-description\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><span style=\"font-size: 12pt;\"><time class=\"css-a8mttu-Timestamp-Timestamp emlnvus0\" datetime=\"2022-10-10T11:00:00Z\">www.wsj.com, Oct. 10, 2022 7:00 am ET<\/time><\/span><\/p>\n<\/div>\n<div class=\"css-vrvdl2-Box e1vnmyci0\" tabindex=\"-1\" role=\"region\" aria-label=\"Listen To Article\" data-block=\"doNotPrint\" data-skip-nav-order=\"1\" data-skip-label=\"Listen To Article\">\n<div class=\"css-7gws04-AudioContainer e1cctup00\">\n<div id=\"articlereader\" class=\"audioplayer\" data-sbid=\"WP-WSJ-0000290849\" data-title-override=\"\" data-show-title=\"false\" data-theme=\"wsj-article-reader-slim\" data-show-header=\"false\" data-show-subscribe=\"false\" data-article-snippet=\"false\" data-ads-enabled=\"nonsubs\" data-save-publication=\"wsj_audio\" aria-label=\"Audio player titled The Repairs That Will Help Sell Your House in a Cooling Market\">\n<div id=\"audio-tag-inner-articlereader\" class=\"audio-player-inner\">\n<div class=\"controls-container\">\n<div class=\"audio-controls\">\n<div class=\"audio-queue\"><\/div>\n<\/div>\n<\/div>\n<section class=\"css-1ducvg2-Container e1d75se20\">\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">The playbook for selling a home needs a makeover, and often so do the houses.<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">Selling a house takes much more elbow grease than it did a year ago. Homeowners earlier could expect a bidding war the moment they staked the for-sale sign in the front yard, even if the property was in dire need of updating.<\/span><\/p>\n<div class=\"paywall css-1u1nl00-PaywalledContentContainer e1db8bjv0\">\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">With <a class=\"css-1h1us5y-StyledLink exk4ewm0\" href=\"https:\/\/www.wsj.com\/articles\/mortgage-rates-rise-to-6-7-highest-since-2007-11664460015?mod=article_inline\" target=\"_blank\" rel=\"follow noopener\" data-type=\"link\">mortgage rates now pushing 7%<\/a>, buyers are harder to come by and easier to turn off, real-estate agents say. Making repairs or even small cosmetic improvements that buyers care about could make the difference between getting your asking price or giving a discount.<\/span><\/p>\n<div class=\"media-layout css-eolujz-Layout ek23gj80\" style=\"padding-left: 40px;\" data-type=\"inset\" data-inset_type=\"richtext\" data-sub_type=\"\" data-layout=\"wrap\">\n<div class=\"css-1p3ahq9-MainWrapper-MainWrapper-MainWrapper-MainWrapper-MainWrapper eo0n4qs2\" style=\"padding-left: 40px;\">\n<div class=\"css-1tdi9ug-FadeWrapper eo0n4qs1\" style=\"padding-left: 40px;\">\n<div class=\"css-fejfux-Container emmogyj7\" style=\"padding-left: 40px;\">\n<h4 class=\"css-m6ugs6-Subhed emmogyj3\" style=\"padding-left: 40px;\"><span style=\"font-size: 12pt;\">EXPLORE BUY SIDE FROM WSJ<\/span><\/h4>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">Between mid-July and mid-August, about 95% of home sellers made updates or repairs before listing their properties, up from 71% of sellers six to 12 months ago, according to Realtor.com. They spent an average of $14,163.\u00a0<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\"><a class=\"css-1h1us5y-StyledLink exk4ewm0\" href=\"https:\/\/cdn.nar.realtor\/sites\/default\/files\/documents\/2022-remodeling-impact-report-04-19-2022.pdf\" target=\"_blank\" rel=\"nofollow noopener\" data-type=\"link\">Not all renovations are worth the cost<\/a> for sellers, data suggest. The top three interior remodeling projects with the highest return on investment are a hardwood-flooring refinish, new wood flooring and an insulation upgrade, according to a recent National Association of Realtors report.\u00a0<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">Some sellers might find that smaller fixes such as a fresh paint job can make a bigger impression on buyers than pricier changes such as a renovated third bathroom, real-estate agents said.<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">\u201cSometimes, the upgrades that aren\u2019t the sexiest pay off the most,\u201d said Judy Dutton, executive editor at Realtor.com.<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">A big remodeling project, such as a new kitchen or deck, might not be worth the investment and delay a seller\u2019s timeline, given supply and labor shortages, said Jessica Lautz, a vice president at NAR. Focus on more affordable projects that appeal to buyers and look beautiful in photos, such as refinishing hardwood floors, she said. \u00a0<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">A hardwood-flooring refinish has a 147% cost recovery, meaning homeowners are likely to recoup well more than the cost, said Ms. Lautz. For comparison, a kitchen upgrade has a 67% cost recovery. <\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">Consider the smaller things that are likely to turn buyers off and fix them fast. Mitigating strong odors is a relatively low-cost fix that helps sell a home, said Mark Barnes, a Realtor in Charleston, S.C.<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">Mr. Barnes got one client\u2019s home a deep cleaning before showing it to potential buyers, because the scent of the owner\u2019s dog overpowered the house. The owner paid about $400 for the service, which included two carpet cleanings. The house sold for $475,000, about 5% over the list price, Mr. Barnes said. A deep cleaning could add $3,731 to the sale of a home, according to a recent report by HomeLight, a marketplace that connects home sellers with real-estate agents.<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">Enhancing curb appeal helps a home stand out to buyers and reduces seller concessions, said Darin Eppich, a Realtor in Los Angeles.<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" style=\"padding-left: 40px;\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">Mr. Eppich recommended his client David Garonzik resod the front lawn of a three-bedroom Woodland Hills, Calif., home as an improvement from the lawn that was dying from the drought. Mr. Garonzik considered putting in a desert landscape with rocks, but Mr. Eppich didn\u2019t think the roughly $10,000 cost would be worth it or would seem as appealing to buyers.\u00a0<\/span><\/p>\n<div class=\"media-layout css-14p43jr-Layout ek23gj80\" data-type=\"video\" data-inset_type=\"\" data-sub_type=\"\" data-layout=\"inline\">\n<figure class=\"css-wgssxl-Figure e9gy6l33\">\n<div class=\"media-layout css-eolujz-Layout ek23gj80\" data-type=\"media\" data-inset_type=\"\" data-sub_type=\"\" data-layout=\"wrap\">\n<div id=\"audio-7B9850E2-B1A4-451F-B92C-75D77B6EF83D\" class=\"AudioPlayer__AudioPlayerContainer-ymfhxv-0 kAPChW audioplayer\" data-audio=\"7B9850E2-B1A4-451F-B92C-75D77B6EF83D\" data-theme=\"wsj-article\" data-show-header=\"true\" data-show-title=\"true\" data-show-subscribe=\"true\" data-hide-description=\"false\" data-article-snippet=\"false\" data-ads-enabled=\"false\" data-autoplay=\"false\" data-hide-feedback=\"false\" data-title-override=\"\" aria-label=\"Audio player titled How to Get Your Home Ready to Sell\">\n<div id=\"audio-tag-inner-audio-7B9850E2-B1A4-451F-B92C-75D77B6EF83D\" class=\"audio-player-inner audio-size-sm audio-size-vsm\">\n<div class=\"controls-container\">\n<div class=\"audio-subscribe\" tabindex=\"0\" role=\"dropdown\" aria-label=\"Subscribe dropdown list\">\n<div class=\"dropdown\">\n<div class=\"media-layout css-14p43jr-Layout ek23gj80\" data-type=\"inset\" data-inset_type=\"dynamic\" data-sub_type=\"origami\" data-layout=\"inline\">\n<div class=\"css-17vk6u0-InsetBackgroundWrapper e1x9hfvr0\">\n<div data-block=\"dynamic-inset\">\n<div id=\"origami-e920bc70-2336-4efb-b676-cf02fa51de08\" class=\"origami-wrapper\">\n<div class=\"origami-image-wrapper\">\n<div class=\"origami-image\">\n<figure><img loading=\"lazy\" decoding=\"async\" class=\"\" src=\"https:\/\/images.wsj.net\/im-637035?size=0&amp;height=900\" width=\"524\" height=\"393\" \/><img loading=\"lazy\" decoding=\"async\" class=\"alignright\" src=\"https:\/\/images.wsj.net\/im-637030?size=0&amp;height=900\" width=\"519\" height=\"389\" \/><\/figure>\n<figure><\/figure>\n<figure><span style=\"font-size: 12pt;\"><span class=\"origami-caption origami-grouped-caption\">Before: David Garonzik&#8217;s front lawn was burnt by drought. His Realtor said the lawn&#8217;s condition could discourage potential buyers. After: Mr. Garonzik is hoping the $4,000 he spent to resod his front lawn will help get him more than the $1 million asking price for his home.<\/span><span class=\"origami-credit origami-grouped-credit\">DAVID GARONZIK (2)<\/span><\/span><\/figure>\n<figure><\/figure>\n<\/div>\n<\/div>\n<\/div>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">Mr. Garonzik is hoping the $4,000 improvement will help him land more than the home\u2019s $1 million asking price, though it is too soon to know whether the gambit worked. For\u00a0apartment sellers, focus on cosmetic upgrades\u2014unless there is an apparent flaw such as a leaky faucet or nonworking appliances, said Ren\u00e9e Lee, a real-estate agent in New York City. \u00a0<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">Anything that isn\u2019t broken, is costly to replace and isn\u2019t overtly visible, such as a new central air-conditioning system, won\u2019t impress buyers as much as improvements they can see, such as new doors for the kitchen cabinets or customizable closet shelves, she said. Aim to fix anything that an inspection would turn up, real-estate agents said.<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">Rising material costs are one reason to be judicious with the projects you choose. Utility is another.<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">Cindy Scholz said one of her clients wasted more than $1,000 repainting his home\u2019s garage floor and rewallpapering the inside of closets.<\/span><\/p>\n<p class=\"css-xbvutc-Paragraph e3t0jlg0\" data-type=\"paragraph\"><span style=\"font-size: 12pt;\">\u201cDon\u2019t fixate on items that don\u2019t matter,\u201d said Ms. Scholz, a Realtor in East Hampton, N.Y.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/figure>\n<\/div>\n<\/div>\n<\/section>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>More sellers are remodeling properties to avoid cutting prices, though some projects pay off more than others PHOTO ILLUSTRATION BY SAM KELLY\/THE WALL STREET JOURNAL By Veronica Dagher www.wsj.com, Oct. 10, 2022 7:00 am ET The playbook for selling a home needs a makeover, and often so do the houses. Selling a house takes much<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_forum_subforum_count":0,"_monsterinsights_skip_tracking":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[52],"tags":[],"class_list":["post-3571","post","type-post","status-publish","format-standard","hentry","category-real-estate"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/goldenkeyteam.com\/index.php\/wp-json\/wp\/v2\/posts\/3571","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/goldenkeyteam.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/goldenkeyteam.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/goldenkeyteam.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/goldenkeyteam.com\/index.php\/wp-json\/wp\/v2\/comments?post=3571"}],"version-history":[{"count":1,"href":"https:\/\/goldenkeyteam.com\/index.php\/wp-json\/wp\/v2\/posts\/3571\/revisions"}],"predecessor-version":[{"id":3573,"href":"https:\/\/goldenkeyteam.com\/index.php\/wp-json\/wp\/v2\/posts\/3571\/revisions\/3573"}],"wp:attachment":[{"href":"https:\/\/goldenkeyteam.com\/index.php\/wp-json\/wp\/v2\/media?parent=3571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/goldenkeyteam.com\/index.php\/wp-json\/wp\/v2\/categories?post=3571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/goldenkeyteam.com\/index.php\/wp-json\/wp\/v2\/tags?post=3571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}