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:
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.
“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?