• major systems in need of being replaced, such as the roof, electrical system, plumbing, heating
• floors badly out of level (foundation work needed, drainage work needed)
• baths and kitchens that are 40 years old
• fireplaces and chimneys that need rebuilding or extensive repairs

And here are a few more that may invoke the "fixer" label (or the milder "cosmetic fixer") among homebuyers and real estate agents:

• popcorn or textured ceilings
• paneling or (most older) wallpaper on the walls
• single pane windows
• cracked and stained concrete - driveways, walkways, patios
• lack of in-ground sprinklers
• ugly landscaping (obviously a little subjective)
• baths and kitchens more than 20 to 25 years old or in out-of-date colors
• old (or stained) carpeting or other floorcovering

For agents, it's helpful to clarify with buyers what they mean when they say "I want to buy a fixer". They may mean "replacing carpet and paint is OK" but nothing else. Or they may be willing to tear down a house and rebuild a new one for the right lot and location. 

For buyers, it's important to be clear with your agent what kinds of things you'd be willing to do for the right price, and how much is too much. 

For homeowners who may be thinking of selling, don't worry about completely updating your house because someone may view it as a fixer upper. You won't get your money back in the short term if you replace your kitchen cabinets, for instance. But it's a mistake to take the stance that "the buyer can fix it" for everything extreme. Many buyers cannot envision how nice your kitchen would be without the brown and white flowered wallpaper and without the brown vinyl or linoleum flooring. Some fixes will make you money when you sell and some won't. Floorcoverings and paint are often a good investment.

Please call me if you'd like to discuss your particular situation and how to maximize buying or selling a home that may be a fixer.

Mary Pope-Handy, Realtor, CRS, ABR, e-PRO, SRES, ASP, RECS, CNHS, ACRE
Helping Nice Folks to Buy & Sell Homes Since 1993
Co-Author: "Get The Best Deal When Selling Your Home In Silicon Valley"
Keller Williams, Cupertino, CA (Silicon Valley)
877 397-5391 (Direct/Toll-Free/Fax); 408 204-7673 (Cell)
www.PopeHandy.com  www.ValleyOfHeartsDelight.com