Name: Mary Alice Thomas
The home: A three-bedroom, one-and-a-half bath ranch home built in 1957
Where: Atlanta
Why she sold: Thomas had lived in the home for 34 years, with her husband, Clifford, who died in 2008. She watches her grandchildren in Dacula, and her daughter wanted her to move closer to them.
Time on market: 113 days
Original price: $97,500
Sale price: $80,000
What it took
A key factor was the home’s south DeKalb County location, about two minutes from Interstate 20. Thomas credits the changes she and her husband had made over the years, such as adding a deck to the back and fencing in the yard and updating the electrical systems. As a result, she didn’t have to invest in renovations before putting the home on the market, but spent some time removing personal items from the walls and decor.
“Everything was in good condition,” said Thomas’ agent, Crystal Brumfield of Better Homes and Gardens Real Estate/Metro Brokers.
One unusual feature helped sell the one-story home. The bathroom has a walk-in bathtub, and its handicapped-accessible features appealed to the buyers, Brumfield said.
The speed of the sale surprised Thomas. “Once I really decided to put it on the market the house sold within about three months. I wasn’t ready,” Thomas said. “I had to put my stuff in storage because I hadn’t been looking. I didn’t realize it was going to go that fast.”
While she stayed with her daughter, Thomas searched for homes with Brumfield and purchased a four-bedroom, two-and-a-half-bath ranch home, built in 2001, in Loganville.
Potential stumbling block
Setting the price and dealing with a low appraisal added difficulty to the sale. When Brumfield viewed comparable sales in the area, some homes were priced for the $130,000s, but Thomas’ home didn’t have new countertops, cabinets and other modern touches that those properties offered. The lower end was in the $50,000, but the condition of those homes was not as strong as Thomas’ house. That led to pricing it just below $100,000. “We were in the middle because the house was very well maintained and everything was looking good,” Brumfield said. When the appraisal came in for only $1,000 more than a nearby foreclosure and much lower than the agreed-upon purchase price, Thomas needed to make a decision. Either she would have to wait six months for another appraisal, or she could go ahead and sell. She decided to agree to the lower purchase price.
Seller’s hint
Keep up with the condition, especially as the home ages. “The appearance of the home really sells your home,” Thomas said.
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