Where do we stand?

The Zillow Zestimate on the house is looking great!

Let's do some math, assuming the Zestimate is right. We get 3% less (see Comparables in the Neighborhood), so: $703,957.

The Real Estate Excise Tax (REET) is 1.28%. Assume we pay the buyer's and seller's agents 3% each (standard, but potentially negotiable).

REET - $9,011
Agents - $42,237

Net proceeds - $652,709

Various costs include the $4500 soils engineer, the $3600 surveyor, $1500 in building permit fees, $3000 for the structural engineer, $7000 for the furnace, and $1500 for landscaping so far. Rough numbers, but I'm in about $21,100.

Redoing the roof and gutters is in the $20,000 range, and I think serious landscaping probably gets there, too. New kitchen appliances, alone, would be $7000. New cabinets and any remodeling? $15,000? That's $62,000 I haven't spent yet, and doesn't include painting, new doors. Say $65,000. The Master Bath? Bath 3?

Adjusted Sales Price - $652,709
- Cost Basis ($467,000 + $21,100) = $164,609 proceeds

Do nothing (no roof, no landscaping) - 33.7% return on original investment
Do $65k (as described) - 18% return on original + $65k investment
Do $110k (bathrooms, remodeling) - 9.1% return on original + $110k investment

Obviously, anything more than a $164,609 remodel starts costing money (unless it increases the sales price).

Plan A

Do the $65,000 as described
Pour concrete, frame walls--extend garage, extend breezeway, remodel bathrooms, refinish floors

Budget: $110,000
Target 2018 asking price: $750,000

Plan B

Do the $65,000 as described

Budget: $65,000
Target 2018 asking price: $730,000

Plan C

Do the $20,000 roof, spend a small amount improving everything in general.

Budget: $25,000
Target 2017 asking price: $700,000

Everything is subject to debate, but it helps to walk through the numbers every once and a while.

	Asking	Sales Price	REET	Agents	Net		Purchase	Sunk Costs	Addl Investment	Profit	Total Inv	ROI
	$725,729	$703,957	$9,011	$42,237	$652,709		$467,000	$21,100	$0	$164,609	$488,100	33.72%
Plan A	$750,000	$727,500	$9,312	$43,650	$674,538		$467,000	$21,100	$110,000	$76,438	$598,100	12.78%
Plan B	$730,000	$708,100	$9,064	$42,486	$656,550		$467,000	$21,100	$65,000	$103,450	$553,100	18.70%
Plan C	$700,000	$679,000	$8,691	$40,740	$629,569		$467,000	$21,100	$25,000	$116,469	$513,100	22.70%
Limit	$766,660	$743,660	$9,519	$44,620	$689,522		$467,000	$21,100	$145,000	$56,422	$633,100	8.91%

Time to replace the furnace

To sell the house, I need a heating system, not the six portable electric heaters I'm using currently. Electric heat is just fine for BR3 and the breezeway (having lived with it for nearly 3 years), but 1) it's too expensive to heat the whole house; 2) I have a gas meter; 3) buyers will not accept tripping over portable heaters.

I got four bids last week, and Ballard Natural Gas was the standout. The lowest bid for a model that I like and the best quality bid in terms of detail and transparency. I picked them Tuesday, May 23, and they scheduled the installation for May 30.

EL296UH070XV36B62W88 is a high-efficiency (96% of gas becomes heat), 70,000 BTU, 2-stage, variable speed unit to replace the old oil furnace. They will install it facing west (the oil furnace faces north, making it harder for a technician to service). It has a lifetime warranty on the primary and secondary heat exchangers, 10 years parts, 3 years labor, and it should last 20+ years.

The other bidders were:

• Washington Energy Services - Good bid process, highest bid and I'm not sure the caught all the details. Their bid calls for Bryant equipment (which I have a bad feeling about) and was vague on some key points, like the BTUs. 
• Greenwood Heating and Air Conditioning - Wanted me to not get a city permit. They bid Trane equipment (which I don't like as much as Lennox--again, just a feeling). They, too, were vague.
• Innovative Comfort Systems was less professional than the other 3. Their bid, several days later when it finally came in, was utterly vague, tantamount to "Install furnace...$6,500".

The Lennox model qualifies for a $350 Puget Sound Energy rebate and Lennox has a $175 rebate, as well. The $7,297.16 cost goes on my new Wells Fargo home improvement credit line with $40 late fees and 30% interest. If I pay 12 months on time, no fees, no interest. Also, no penalty for pre-payment. Rather than pay Ballard in full, I get to improve my credit score (perhaps) and I spread the risk of a sudden drop in real estate prices.

They will run a new wire and install a Lennox iComfort (10F81-1) thermostat. I'd like a Nest or a home automation solution, but it is pretty easily swapped out. I'll give the Lennox a try. It connects to the home WiFi and displays a 5-day weather forecast, so it can't be too dumb.

The price includes Level B "premium" air duct cleaning, both supply and return. This is optional, high-margin upsell, but I think the ducts need cleaning--they've been unused for almost two years, and oil heat is sootier than gas. I'll watch carefully as the work is performed.

The bid includes capping off the greenhouse duct that was added by the previous owner. We'll use that opening to route the PVC vents. The new furnace doesn't need the metal duct to the chimney, but I'll see what they propose. The idea of venting the basement through chimney sounds useful.

When I know what I'm doing with interior partitions and plumbing changes, we may have to re-route some ducts, but I think it makes sense to move ahead with the furnace rather than wait for the perfect design.

Owner's Manuals

• Lennox Elite Series Brochure
• User Manual
• Installation Manual
• Thermostat

Starting up Trees House 2017

Well, 2016 happened. Trees House 2015 is officially dead; the Seattle Bldg. Dept. asked me to cancel the permit in process and I did, knowing I don't want to gut the house and build a big old trees room. In this real estate market, I can pretty the place up and make a tidy profit.

Two important drawings were discovered from the huge pile of 2015 project documents. First is a simpler remodel plan by Peggy:

I'm not even sure when this was drawn (likely about April 2016)

This calls for

• Extending the garage for a full depth. But, cleverly, put in a demising wall so that one bay can be offered to a tenant (and to avoid expensive beams and 16' wide overhead doors).
• Move the washer/dryer down the hall
• Remodel the breezeway and stairs
• Extend the breezeway north and south (not sure what's supposed to happen to the roof and eaves). Also, proposed furniture isn't shown. I think we might leave the exterior walls where they are.
• Remodel the BR3 bathroom. Kind of ignores the 12-gallon water heater, but we could put real fixtures and finishes in there for a big improvement.
• Remodel the central bath into a linear configuration (move the shower drain, basically). Or, we could just leave it a powder bath
• Remodel the BR1 door to make the hall work better with the living room
• Remodel the BR1 bathroom--new window, new fixtures.
• Build a new south deck--replace the old. Simplify.
• And revise the kitchen (saved the best for last)

The revised kitchen is my favorite. It would be so much easier to use, and it would work with a large dining table like a country kitchen.

The new kitchen features:

• Preserving the corner window (and getting rid of the glass blocks and greenhouse window)
• 30" gas range with a real hood
• Not sure where the microwave goes--perhaps over the gas range?
• The problem with the NW corner persists, but is already better than what we have now.

Still on the sump pump

Update: In a case of "why don't you just order what will work?" the Liberty 237 fits the sump pit perfectly, and the vertical magnetic float switch doesn't get fouled up by hitting the side of the pit. Amazon had it in my hands in 25 hours (at no extra cost).

Okay, I ordered the Liberty 237.

I finally tired of making the new Everbilt 1/2 HP model SBA033BC with tether switch work. The manual calls for a bigger sump, and the tether switch hit the side. I need a more compact switch that will fit in my 12" x 12" x 12" sump.

Amazon

→Liberty 237 1/3 HP Vertical Magnetic Float switch $133 - free 1-day. 2 yr.
287 1/2 HP VMF $211
247 1/4 HP cast iron $125

Wayne WSF50 1/2 HP plastic $116 - free 1-day

Flotec E75VLT 3/4 HP $151
FPZS33V 1/3 HP $119

Home Depot

Water Source 1/2 HP cast iron $111 - might be stubbier. Not at store. Free Del 4/12.
Requires 12" diam. x 10" depth. Model WSSPC5V 66 GPM; 50 GPM @ 10' head

Everbilt 1/3 HP $85 plastic. Raised inlet. Not at store. Shipping delivery 4/12
1/3 HP S/S $159 SBA033V1
1/2 HP S/S $189
3/4 HP $198
1 HP $228

Superior 1/3 HP $72 plastic. Not at store [$72 at Amazon]
1/3 HP $85.54 cast iron  92341 [$85.13 at Amazon]
1/2 HP $70 plastic. Not at store
3/4 HP $172

AquaPro 1 HP $228
1/2 HP $179

Eco Flo 1/2 HP cast iron $101 [$98 at Amazon]
1/3 HP $83 [ $83 at Amazon]
3/4 cast iron $132
1/3 cast iron $101

Lowe's

Flotec 1/2 cast iron $169 - 80 GPM. Free delivery 4/10 - switch on right, not left

Utilitech 1/2 cast iron $159

H20PRO 3/4 cast iron $229 - looks stubbier

Sump Pump Issues

Today's basement issue is the sump pump outside the basement door. It has been running at odd times and is increasingly noisy and vibrate-y. Since it hasn't been raining, I finally went to investigate, and sure enough, the pump seems like it's running dry, which is very bad for pumps.

The sump is a 12 x 12 x 12 box in the concrete landing. It also accepts drainage from a pipe coming from under the deck. The box and the grate on top of it are plastic, but it seems in fine condition.

The pump is a 1/3-HP cast-iron submersible sump pump made by Utilitech. It has a 120V wire going into the top of it, and another 120V wire that ends in a float thing. The powered float seems odd to me. Both wires run under the basement door and plug in to an ordinary outlet behind the door. A flexible hose connects to the 1-1/2 NPT discharge on the pump, allowing it to be pulled out of the sump. From there, it connects to a rigid pipe with a backflow preventer and a rigid pipe to drain that runs under the deck and daylights on the bank.

Update: I found an older model that looks like mine, with two 120V wires. The trick is, you have to plug the pump into the float switch plug, which is one of those "through" plugs. Obviously, the float switch interrupts power to the pump, except when the water is high enough.

First inspection showed 3 or 4 inches of debris in the sump and the float was resting on the debris. I cleaned that out, reassembled the kit, and now the pump doesn't want to shut off. The internet thinks that float valves go bad every four years or so.

I don't know when the pump got plugged in to the normal outlet, but perhaps it has been running that way for a week (since the water heater installation) and it only turns off when the motor gets too hot. Or maybe I plugged it in wrong when I started investigating and now its burned out because of me.

Maybe it's time for a new pump.

Home Depot offers one from Wayne for $120. This model, also from Wayne, features a "tether float switch" that looks more like the Utilitech model. It is $128.

Lowe's sells a newer Utilitech model for $99. It seems to have a 120V wire going to the float, but just a single wire going to the outlet.

Amazon sells Wayne and other brands, but not Utilitech. I liked this Liberty Pump because it's smaller and seems to have a more reliable float. It's $133.

Water Heater Installed

Thanks to Johnathan Jones, the water heater problems are history. I found the model I wanted online and the local Home Depot had 8 in stock. It had to be a Medium, not a Tall, or we would have needed to modify the hot and cold pipes. We bought the thing for around $610, carried it home (it's 127 pounds in the box) and hand-trucked it down the basement stairs. Draining the old tank added considerably to the water in the basement, but the sump pump at the door did its job. John made disconnecting the water and power look easy.

We wrestled the old tank toward the door, unpacked and wrestled the new one onto an insulated base (styrofoam) in a special plastic pan made for this purpose, and John made hooking it up look easy. We had to run to Home Depot for some ground wire and a ground clamp, but the new unit was quickly up and serving hot water.

The white PVC directs the pressure relief valve output to the floor (there's a drain to the right)

The next morning, the floor was largely dry. I installed the leak detector in the pan and the special WiFi module. It wouldn't let me set it up, so after three tries I contacted Rheem tech support. To my delight, they got back to me pretty quickly with alternate instructions involving my laptop. That worked, and my phone can now switch the water heater to vacation mode from anywhere in the world.

Model: Rheem XE50M12EC55U1W
Serial: M071709451
Manufactured: 2/13/2017
Bought/Installed: 3/22/2017
Electrical: 240V, dual 5500-watt elements
Warranty: 12 years parts / 3 years in home labor (warranty ends in 2029)

The owner's manual says to pull the anode every year and check it.

Comparable With Healthy Asking Price

Update 5/27/17: Went pending 3/25/17, fell out of contract, listing removed 5/4/17.

This just on the market, asking a full 18% over the Zestimate. $365/SF.

11502 4th Ave NW, Seattle, WA 98177

3 BR, 2 BA, 1970 SF. Hardwood floors throughout main level. One bed and bath on the lower floor. Oil furnace. New 40-year roof with "slick no maintenance gutters." Baths: one full, one 3/4. Lot size 10,018 SF. Built in 1951. Zestimate $610,059. Asking $719,900. (Originally, they asked $739,900, but came down $20 after ten days on Zillow.)

Not much Carkeek, if any, but it's at the end of a dead end street. That's 3rd Ave in the background of the photo--easy walk to the bus stop.

My Zestimate, today, is $669,648. 18% more would be $790,185. I'm 3 BR, 3 BA, 1592 SF. Lot size 10,798 SF. Built in 1947. I'm farther from the bus, but Carkeek is right there.

Unrepentant kitchen

Looks like the full bath is downstairs, the 3/4 bath is upstairs

One-car garage, but it is generous for a shop or storage

Not exactly a Sound view, but its better than mine.