Well how bad is it?
There are many degrees of fixer upper.
1. Big Dog./ Red Flag / Possible tear down
2. Contractor special: - mold, rot, foundation problems, bad roof, code violations, fire,water damage, smells bad.
3. Diamond in the Rough: needs gutting and thorough rehab inside and out.
4.Needs TLC kinda like Diamond in the rough.
5. Cosmetic fixer : see #3 and #4.
6. Move-in ready (ranges everywhere from "yikes!" to "oh, I can see how this could be nice")
While most buyers want move in ready, that is a slim majority. There are almost as many who will tell their agent they would rather save some money going in so they can fix up as they go along. This mindset does not work of course, because lenders won't loan if there are unresolved health and safety or structural issues. Lenders also don't like missing or broken stuff.
So if it is really a true fixer, your pool of buyers are mostly pros or semi-pro investors who are going to try to beat you up on price like a red headed step child.But don't worry about that, They can try, but they won't succeed. Some fool will come along and pay way too much, cause fix and flip is the path to easy money don't you know? At least according to the reality TV shows on HGTV and other high number cable channels. Even the hit show "Modern Family" is doing a multi-part sit com show on the fictional family buying and fixing a flip.
In summary the market condition for selling a fixer is great right now. You will actually net more if you get the place cleaned up of debris in and out. Remove, but don't replace, broken stuff. Remove the stinky stuff. If the place smells bad due to urine in the carpet , pull the carpets and pads. Air it out. Check the drains for leaks, then run the water (if not leaking) to keep the sewer gas from backing up through the pipe. You don't have to fix it up to sell it as a fixer, but at least make it possible for people to walk through it, and take their time to imagine it fixed up. They can't do that if it is too smelly.
Oh, yes. By the way. Call or email me. I'd like the chance to be your listing agent, too. Along with at least 16 others. - The fact that so many agents want to list this dog, sight unseen, also tells you the market condition for selling a fixer upper is really good.
click on my web link below if you want my contact information.
Hunnicutt Lane in the 95821 Arden/Arcade area...is a fantastic place to invest.
Where older homes, built in the mid 1950's, are being sold as is w/out the amenities, renders an affordable price, at FMV, within the Market comps.....
With the refurbish additions of modern conveniences... Enhancing the decorum, of vintage design.... Embellishing the uniqueness in charm...Will transform the completion, to these homes of reflective objet d' art... You'll find yourself breezy tranquil....like a sonnet, that may go like this.....
The quintessential nuance, embodying the essence.of inner elan' vital....will quench the spirit like that of fresh spring water .lighten heart to calm repose, aerial vision of when time found me young....reminiscent safe in keeping, the memories treasure sweetly cherished..to the depths within my heart and soul.... I carry with me, every day... the inspiring thoughts, of when time was young, a time that lived, by those who loved me! JSL I'm sorry I got carried away..... To answer your question...Yes, the market for selling fixer-upper's can be good, depending on the neighborhood... Arden/Arcade ,near Del Paso Country Club is prime!:)
REALTORÂ® - lic #01923240
Certified Public Accountant (CPA) - lic #103885
Hammer Real Estate Group
cell ph 916-716-1341
http://www.captiolhomesbrokers.com if you need more information on your home.
OMG... as they say
There's still a market for them as you have been told.
If you are the Seller of a Fixer, be smart and get an idea of what it would cost to fix it up and have a broker evaluate it and the area. He'll also get the comparable sales in the neighborhood. That way you'll know how to price it right to get a relatively quick sale.
Please keep in mind that who ever buys a fixer to flip has to have a "profit" when they sell. They make the profit on the "buy" not the sell.
If they pay too much and after having to do the required repairs and updates, paying too much to you makes it a little harder to bring in a decent profit.
That should be of some concern, if you are a seller, because like any other deal, if you price it too high, you as a Seller won't get the action you want. That's because there's not enough profit in it for whoever buys it to do the work and go through all that hassle.
Anyway... I hope this helps.
Make it a Great Day...!
Please feel free to contact me if you are looking to sell or if you have any questions.
Lyon Real Estate
If it's priced right, you'll get multiple offers, and that will drive up the price. There are a lot of investors who are dying to buy that worst house on the street.
Ted A. Greene
JCL Realty, Inc.
I have a few investors that would be willing to look at your house. I am also actively looking. We maybe able to even work something out that we just partner together and that way you may make money.
Call me and we can discuss.