Our Flip House is On The Market

by Joe Plemon on June 20, 2011

Before. Not bad, but ...

Whether you have been following the ongoing saga of our flip house or not, you may want to get caught up by checking my previous flip house posts:

My House Flipping Experience: the Bid

We Closed on Our Flip House Yesterday

House Flip Update 1

House Flip Update 2

House Flip Update 3

Flip House Update 4

The reason I have waited so long for this post is simple: there hasn’t been much to report. My son and I have been working on getting the house ready for market, and now that we are at that point, here is my update. First, however, allow me to show off our work.

 

We painted the railings and the deck, and added new plantings

A "before" picture of the kitchen

Kitchen now. New solid wood cabinets and stainless steel appliances

EVERYTHING you see is new

View from front door. We removed the wall between the kitchen and the living room, and added the French doors leading to the new back deck.

Prep sink, base cabinet and snack bar just inside the side door entrance

Mosaic glass backsplash

New back deck overlooking the one acre lot

Bathroom has new ceramic tub/shower

New crown molding in kitchen, dining room and living room

Welcome in

How“, you ask,”is our marketing going?” Good question. “So-so” is our answer. We have had only a few lookers since we put it on the market about a month ago, but one couple has looked three times. We are advertising in the local newspaper, Craig’s List (which has given us some nibbles) and all over Facebook. Because I once had a Real Estate Sales License and because my son (and partner) has previously sold several houses on his own, we are opting not to use a Realtor. We will probably try the For Sale By Owner site if things don’t get moving more in the next month. Update on 6/24/2011: we now have that For Sale by Owner ad…with 32 photos! After checking asking prices and comparable sales in our area (one can learn a lot from Realtor.com and Zillow), we don’t believe our asking price is too much. We spent more than we originally planned on our upgrade, but we improved it more than we originally planned. I will share more details on our pricing after the house is sold.

At this point, we are tired, but feeling a sense of accomplishment in turning a very normal house into a wonderful house, befitting the neighborhood, which is quiet, friendly and surrounded by houses as nice or nicer than ours.

This has been and still is quite a learning experience. I will share lessons learned in a future post.

Readers: any questions, observations or tips?

 

{ 11 comments… read them below or add one }

Norman June 20, 2011 at 1:21 pm

It looks fantastic. Thumbs up! But I can’t believe you replaced that gorgeous ceiling fan in the kitchen. I’m sure it had dust/grease covered fake wood blades and a great wobble effect that would have wowed potential buyers.

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joeplemon June 20, 2011 at 1:37 pm

@Norman — haha! Love your touch of sarcasm. We couldn’t wait to get that nasty ceiling fan off the ceiling and into the dumpster. Of course if we had left the ceiling fan to wow those potential buyers, we would have been obligated to leave the masonite wood look paneling and the vintage 60’s stick-on tile floor.

@Jenna — I am hoping that SOLD post will be in the not too distant future. Thanks for the good word.

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krantcents June 20, 2011 at 2:12 pm

It looks really nice! I am surprised that you have not had more action. Is it the price or the area?

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cashflowmantra June 20, 2011 at 2:35 pm

It looks really nice. I especially like the kitchen and the openness. I can imagine the tremendous sense of accomplishment in completing that type of project. I put together a bunk bed over the weekend and felt good about myself. I hope you sell it quickly so I can read that sold post.

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Carol June 20, 2011 at 8:14 pm

Everything looks great! Where did you purchase your kitchen cabinets from? My mother is in the middle of a kitchen remodel and having a hard time deciding on cabinets.

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joeplemon June 20, 2011 at 10:12 pm

@krantcents — probably more the area than the price. We are in deep Southern Illinois, not exactly a transient community, so there simply aren’t many houses at all being sold. We seem to be priced pretty close to the competition, especially considering quality and neighborhood.

@cashflow — Thanks! Believe me … I am looking forward to writing that “sold” post.

@Carol — we ordered the cabinets from “Cabinets to go“. We had to assemble them ourselves, but they were quite easy to assemble … about 30 minutes per cabinet. We figured we saved at least $700 over pre-assembled cabinets of similar quality, and these were very nice cabinets. I would recommend them.

By the way, my wife did all of the kitchen layout/design. She is the creative one and I am the one who figures out how to build what she designs. Pretty good partnership.

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Miss T @ Prairie Eco-Thrifter June 21, 2011 at 2:51 pm

Wow the house looks awesome. If it was closer to my I might just consider it…lol. I definitely know who to come to for advice if I ever get into flipping.

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Evan June 21, 2011 at 3:35 pm

I’d love to hear some numbers! What do you need to sell for? how much profit will it leave you? Or is all that being saved for the SOLD post?

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joeplemon June 21, 2011 at 6:01 pm

Miss T — I would love to have you for a neighbor! 🙂 About asking for advice, you had better wait until we sell the house first. I know this: it is a learning experience.

@Evan — I promise full transparency (with the approval of my son/partner) after the sale. Probably not prudent to be tossing numbers around right now.

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leeanna June 22, 2011 at 3:50 am

Looks great, i really like the brown tones that you went with, i’m sure that you guys will sell it in no time…and then miss it dearly 🙂

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joeplemon June 24, 2011 at 9:29 am

leeanna — I hope you are right about the quick sale. However, even though we put a lot into this project, I don’t think we will miss it dearly. Right now I am missing my investment money and hopeful profit. 🙂
Our plans, if we come out all right on this house, are to try to flip another one. We will see.

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