October 20, 2012 by stpaulhaus

Long time no post.

We have had put our projects on hold temporarily for a couple week to discuss…wait for it, wait for it…

…selling the house.

Don’t get your panties in a bunch, that conversation was short lived.

We had a realtor over to the house to take a look at the property and give us some unbiased input on what our home is worth. Teresa Boardman, of Saint Paul Home Real Realty, is a great realtor that knows everything about the market in St. Paul, as she is a St. Paulian herself. She has a really great blog if you are interested in real estate and the housing market in St. Paul that you can find here. She is also a great photographer, and you can see her work here.  Thank you to Teresa for taking time out of her busy schedule to do this for us out of the goodness of her heart.

She gave us a lot of great input, and pointed out a few things like this…

That is a photo of a beam that someone decided to cut off…for no apparent reason. This beam should run the entire length of the house, but I guess it was in the way. Luckily, 90 percent of the beam is still there, which is nice because I like living in a house that as not imploded in on itself. I may have to fix this…somehow.

While I was down in the basement I though I would take a photo of my workshop…

Nice isn’t it.  Note the intricices and attention to detail in my design of this area.  Some of my best work if I do say so myself. In all seriousness, we have the original limestone foundation that is in really good shape which is pretty dang cool.

Anywho, Teresa thinks we should probably list at about 5k more than we paid for it. At this point, it looks like it would be better to hold on to it a bit longer. This got us talking about the possibility of…

Refinancing the house if we are planning on living here a little longer.

This means that we are going to have an appraisal of the house. I really didn’t think it would be that big of a deal, until I started researching refinancing and appraisals online (I am cursed with the nerd gene and I research everything way too much). I found stories of people that wished they would have done a bit more to prepare for their appraisal. One article suggested treating appraisals like a showing when put your house on the market—which means cleaning, de-cluttering, and staging. I think I have watched enough HGTV and DIY network and read enough This Old House and The Family Handyman in my time to figure this out, but that doesn’t mean that I want to do it. We have a fair bit of crap around the house (perhaps you recall this room), and it is always hard to get rid of stuff. We have thrown out a lot recently, but we have a long way to go.

This also means I have to finish up my cosmetic house projects. I don’t think the appraiser would look too fondly on the half-finished chair rail here, or the current hole in the wall in the guest bedroom. We also have a bunch of exterior/landscape projects that we would like to get done before then too, like fixing this broken handrail and installing the mail slot. After all, curb appeal is very important when selling a home.

In light of this all, I have picked up this to replace the old rusty exterior light (no pun intended)…

and this…

and this for the stairwell…

and more excitingly, this…

Hallaluah for more storage. Can never have enough storage.  This is for the dining room window seat that I have been plan for, oh, I dont know, since birth. More on that here.

We are also talked quite a bit about renting the house out and buying a new one.  We are going to keep this in the back of our minds while I keep an eye on the market. If I find something that I have to have then we will explore that option at that point.

Anyone out there looking to buy or sell right now or have rental properties? Have any of you gone through refinancing? Any advice for the apprasial?

4 thoughts on “Illuminating

  1. Heather says:

    I just refinanced and read all the same things you did online. Ultimately the biggest factor seemed to be comps. I’m in Portland and our housing market is just starting to take off again. I’ve made a ton of improvements to the house but I have yet to do some things like put up baseboard and window trim in the basement I finished. My house still appraised $75,000 more than I bought it for.

    I gave the appraiser a list of the improvements I made to the house and got out of his way. He spent the most time measuring square footage. Good luck!

    • stpaulhaus says:

      Thanks! Unfortunately, not many houses on the market or recently sold in our area…so i suppose there are fewer comps around. This concerns me. I’ll be happy if we get to 10-15k more than what we paid for it.

  2. […] parts (sorry no photo, I suck I know) a nice shade of antique bronze–the same paint I used here.  It needs a new shade and a bulb for a complete transformation. Look for it in the soon to come […]

  3. […] You may have also noticed that we were able to finally paint properly behind this light fixture that we put in awhile back. […]

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