Sunday, January 27, 2008

The Flipper


So I listed a flipper on Clayton Rd. The 3 bedroom, 1.75 bath home is on a big lot with mature trees, almost 3/4 acre. The basement is exposed with a walk out, the roof and siding is only 5 years old. Why a flipper? This home was, and parts of it still are, stuffed to the gills with junk. In a different context it would not be junk, it would be flea market fodder or swap meet inventory, but after being piled into corners and forgotten, it is mostly junk, junk in the way of getting around, cleaning, repairing and even living. The interior finishes are all original to a 40 year old home and have suffered at the hand of all the stuff.
So where do you start? Set a good price, try to be the flipper and see what numbers you need to make it work. Make a plan. Showings were delayed 1. so we could clean it out a little more and 2. so we could attempt to build or at least take advantage of any penned up demand. Priced at $109,900 it would seem a bargain but only time will tell if people are able to see past the flea market fodder to good bones and a bright shiny new home for a family of four.
It would seem so far that the delay of the first showings is paying off. There are 9 showings scheduled for the first day open. My hope is for at least 2 offers. Only time will tell if I am on the ball or off the mark. Stay tuned...

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