Many large colonials vs large ranch for sale
Our home is just about ready for market. We have a very large (3200+sq ft) California style ranch (high peak roofs) with a great floor plan - great large entry with marble floor, common rooms in the center with one wing of bedrooms (4) and one wing with a main floor large studio or bonus room and high ceilings with great light. On the back of the home we have a huge 3+ season sun room and a deck with a gazebo on it. The back yard is equally impressive. The home has wonderful curb appeal. Every RE agent has commented very positively on the home, curb appeal, circular driveway and neighborhood without our promting. The absolutely LOVE the home!!!! There are many, many colonials with equal sq footage on the market in our town and most have been sitting there forever because they are all the same. Most have updated their kitchens and added granite countertops and high end appliances. Our homes kitchen is contemporary white, not upgraded since the late 90's except for appliances which we replaced 5 1/ years ago (all are white though except for the stainless double oven). One bathroom, the one in the bedroom wing hallway, has not been updated and is original from the 70's when the home was built. We never updated it because is looks fine and not offensive (original tile counters and a new toilet) because it would only be used by the three other bedrooms. We had talked about redoing it for the sale but have been told by all the agents, don't bother, it is just fine. Our bathroom was updated and is amazing with granite, great closets and custom full glass shower. The powder room is also new - just a toilet and a pedestal sink. Prices are coming in just about $20,000 apart from all the agents. They all feel that we have something very different and appealing that will sell over the colonials. Many people are looking for ranches, especially older people who don't want a condo and the feeling is we should be able to get a price comparable to the redone colonials. Of course like all of you, we want to sell and not sit on the market but if we do have that "one of a kind" home we don't want to give it away.
I have always been aware of the market and have seen that any well priced ranch doesn't stay on for long. I am afraid though with this crazy market. The Low RE price is a little to low after fees paid out and the middle price just has us squeeking by. Do you think it is wise to compete at the higher end with the colonials that have had the upgrades we don't have? I do understand supply and demand and have seen ranches that have been dressed to the 9's sit there and lower their prices and finally sell.
One of the few ranches in the neighborhood closed in OCT. and sold pretty high and very quickly just before the crash. They were not updated updated either and didn't have as much as we have to offer. I am terrified!!!!! I am just not sure how to price this house. Do I want to be in the same price range as the done up colonials?