At Home: Don't over-fix up a home to sell it - Article Photos 1/3

This Concord, Calif. home was so run down a local news agency dubbed it: ?The Dump at 4101 Nulty Drive.? The Beanes, who have a property investment company, bought it for $190,000. They put $130,000 into it, fixing termite damage, upgrading the kitchen and baths, replacing flooring, painting inside and out, moving the laundry room to make it more convenient, and pushing out a wall to take the house from 1800 to 2100 square feet. It sold in October for $455,000. ?When we asked brokers for their price opinions, their highest sales estimate for the improved home was $310,000,? said Michael Beane, who saw the situation differently. Photo courtesy of SMB, llc.