When a homeowner is told their home is worth a certain amount and they have made a certain amount over the buying and improving price, it is never mentioned that when they sell their home, they have to pay closing costs, realtor's fees, transfer tax etc. It is deceiving on what their house is really worth. I think it should be clarified somehow on the show.
I don't know. The show seems pretty darned clear to me. Many of the homeowners featured aren't even looking to sell anyway, but only want the valuation to let them know if the money they've spent to far has been spent wisely, and if they have enough equity to make further improvements worth it.
Of course what the real estate agent says they would list the house for may or may not be close to what the homeowner would really get should they actually put the house on the market that day. I think that should be obvious to just about anyone. The slant of the show seems to be more about what sorts of improvements are wise to do in certain markets (in the opinion of the real estate agent). We may or may not agree with that assessment - but that's what the show is about. Not about home selling.
HGTV has programs that pull the wool over our eyes (House Hunters for one) - but this one seems pretty straight forward to me.
Tonight's episode has had some "huh?" moments for me . First, homeowners expecting $475000 were told "$380000" or something similar - turned out to be a loss. I haven't seen that happen often on this show. Then we have a homeowner who somehow managed to redo a reasonably large kitchen with nice cherry cabinets and granite, plus redoing the wood floors, for $11000. Where did they find these materials and labor for this price??? Wow! Then the dopey real estate agent called their casement window "something from the 70s" (strictly because of the style--no one said anything about the actual age or function of the window) and suggested replacing it with what I think she meant to call a double hung ("6 panel, I mean pane"). Hey, hon, EVERY top window company sells casement windows today. And the homeowners' window was small--very appropriate for a casement. And from what I could see of the rest of the house, the kitchen's casement windows weren't inconsistent with the rest of the house. I can't imagine any buyer deciding not to buy the house with that window as it was (as long as it was functional) or paying the sellers what it would cost to replace it. Honestly, some of these agents I think are confusing their own taste with that of the buyers in the marketplace and aren't thinking about the willingness to pay.
This message has been edited. Last edited by: ACWhite,
No, they don't mention commission or closing costs. If they did some of the homeowners would have a loss or pretty close to it.
I suppose the RE agents don't know what the houses will eventually sell for and some of the owners only want the current value to pull out equity for repairs/remodeling.
. First, homeowners expecting $475000 were told "$380000" or something similar - turned out to be a loss. I haven't seen that happen often on this show. Then we have a homeowner who somehow managed to redo a reasonably large kitchen with nice cherry cabinets and granite, plus redoing the wood floors, for $11000. Where did they find these materials and labor for this price??? Wow! Then the dopey real estate agent called their casement window "something from the 70s" (strictly because of the style--no one said anything about the actual age or function of the window) and suggested replacing it with what I think she meant to call a double hung ("6 panel, I mean pane"). Hey, hon, EVERY top window company sells casement windows today. And the homeowners' window was small--very appropriate for a casement. And from what I could see of the rest of the house, the kitchen's casement windows weren't inconsistent with the rest of the house. I can't imagine any buyer deciding not to buy the house with that window as it was (as long as it was functional) or paying the sellers what it would cost to replace it. Honestly, some of these agents I think are confusing their own taste with that of the buyers in the marketplace and aren't thinking about the willingness to pay.
