Not getting offers on my flip property.

Buying & Selling Real Estate
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Not getting offers on my flip property.

Kris Russell
Rental Property Investor · DFW · Member since 2016 · 20 posts · 17 votes

Hi, Ive been struggling to sell my property that I recently rehabbed. I bought it in Oct. And finished the rehab in the beginning of January. Winter time was slow but once spring hit I've had multiple people view the house but no offers.

I've been making my realtor push for more feedback from people who view it and most of it is that it was nice and priced around average price. No real tanagble feedback I could use.

I'm thinking about doing something to the landscape to add cub more curb appeal. But I need to get this sold asap.

I bought it with hard money so sitting on high interest. Also considering trying to refinance but not sure if I will be able to without havigg tenants in it first. Any suggestions are welcome. Thanks

7603 woodshire dr dallas TX.

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Lynn McGeein
Real Estate Agent · Virginia Beach, VA · Member since 2012 · 2k+ posts · 1k+ votes
7y

Just my opinion, but the pictures don't match the "fully renovated" language in the listing, and curb appeal needs work.  The windows are a problem -- not sure what's going on there, but they detract from both interior and exterior views.  The roof looks older in the photos, the dark exterior color doesn't help, driveway needs cleaning.  The pictures could use some work as well -- not level, dark, odd angles, move the garbage cans out of the shot.  I'd eliminate most of the exterior shots, keep the distant whole-house ones, remove the interior photos that emphasize the weird windows and add more photos of the kitchen and bath renovations.  For feedback, some agents just use the standard questions about buyer interest, price too high, low, just right, etc., so you may not be getting the full picture.  Ask your agent if he can speak to or email showing agents directly to see if they can add some constructive comments to their feedback. 

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  • Theresa HarrisPro Member
    Member since 2019 · 15k+ posts · 11k+ votes
    7y

    What are comps selling for?  How long are other properties on the market?

    Given it has been listed for a few months, it might be worthwhile to pull it and relist it.  Some new photos might help.  The ones with the bottom third of the window boarded up should be removed.

    6Reply
  • Lynn McGeein
    Real Estate Agent · Virginia Beach, VA · Member since 2012 · 2k+ posts · 1k+ votes
    7y

    Just my opinion, but the pictures don't match the "fully renovated" language in the listing, and curb appeal needs work.  The windows are a problem -- not sure what's going on there, but they detract from both interior and exterior views.  The roof looks older in the photos, the dark exterior color doesn't help, driveway needs cleaning.  The pictures could use some work as well -- not level, dark, odd angles, move the garbage cans out of the shot.  I'd eliminate most of the exterior shots, keep the distant whole-house ones, remove the interior photos that emphasize the weird windows and add more photos of the kitchen and bath renovations.  For feedback, some agents just use the standard questions about buyer interest, price too high, low, just right, etc., so you may not be getting the full picture.  Ask your agent if he can speak to or email showing agents directly to see if they can add some constructive comments to their feedback. 

    15Reply
  • Bart H.
    Dallas, TX · Member since 2016 · 1k+ posts · 745 votes
    7y
    Originally posted by @Kris Russell:

    Hi, Ive been struggling to sell my property that I recently rehabbed. I bought it in Oct. And finished the rehab in the beginning of January. Winter time was slow but once spring hit I've had multiple people view the house but no offers.

    I've been making my realtor push for more feedback from people who view it and most of it is that it was nice and priced around average price. No real tanagble feedback I could use.

    I'm thinking about doing something to the landscape to add cub more curb appeal. But I need to get this sold asap.

    I bought it with hard money so sitting on high interest. Also considering trying to refinance but not sure if I will be able to without havigg tenants in it first. Any suggestions are welcome. Thanks

    7603 woodshire dr dallas TX.

     IMO spend some money on a professional photographer.  that pictures are terrible, they are dark, at angles etc.   IT looks like you have a washer and dryer outside?  is that the case?

    I would spend a little money on landscaping, put in some edging a few flowers, and a little mulch.  IMO it would really improve the curb appeal.

    10Reply
  • Matt J.
    Rental Property Investor · Puget Sound, WA · Member since 2019 · 59 posts · 44 votes
    7y

    I agree with the other comments. Curb appeal often sells the house. In fact, many real estate books suggest starting any rehab with the exterior. It sets the tone for the project and encourages initial interest. 

    3Reply
  • Don Gouge
    Johnson City, TN · Member since 2017 · 209 posts · 367 votes
    7y

    Don't mean to offend but your house is ugly. The pictures in the listing are ugly. Looks like the house next door is in bad shape. I don't know property values in your area but as long as it has been on the market its obvious that it is very overpriced. Just take a deep price cut and move on. 5k won't do it. More like 20k.

    2Reply
  • Marc Winter
    Real Estate Broker · Northeast PA · Member since 2017 · 2k+ posts · 2k+ votes
    7y

    The existing photos are certainly lacking in the 'curb appeal' category.  Paint the grass green, trim the shrubs, maybe plant a nice little tree.  Think about a professional photographer.  Have there been any broker open houses?  Any public open houses?  The sign is dinky, have them put up one with 4x4 posts.  Respectfully, from the photos showing in Zillow, the house shows, well, meh.  Clean and neat, yes.  Exciting?  Maybe not so much. 

    However, if it's not selling, it's all about the price.  It's always about the price.  A POS house, in the middle of a busy intersection, with no parking will sell if the price is 'right'.

    3Reply
  • Lydia R.
    Investor · Austin TX · Member since 2016 · 1k+ posts · 2k+ votes
    7y

    @Kris Russell I agree with the other replies youve gotten. What did you actually do to the house? The exterior could definitely use some improvement, the windows are old and ugly, theres popcorn on the ceiling. If a house has one bathroom you better make that bathroom look really nice and this bathroom looks blah. You are probably going to need to do a price reduction.

    5Reply
  • Caleb Heimsoth
    Rental Property Investor · Durham, NC · Member since 2016 · 7k+ posts · 7k+ votes
    7y

    @Kris Russell the photos aren’t great. The angles are really awkward. One of the first photos I see is literally of just half your house.

    This is likely overpriced, by a lot I’m guessing. I’ll tag @Russell Brazil. He always gives good feedback on these sorts of things

    2Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    7y
    Originally posted by @Caleb Heimsoth:

    @Kris Russell the photos aren’t great. The angles are really awkward. One of the first photos I see is literally of just half your house.

    This is likely overpriced, by a lot I’m guessing. I’ll tag @Russell Brazil. He always gives good feedback on these sorts of things

     Thanks for the tag Caleb.

    Photography is awful. Looks like it backs up to a major road...was that taken into consideration in pricing? This doesnt even look like a rehab to me. Looks kind of dumpy. Looks like an old kitchen.

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    5Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    7y
    Originally posted by @Russell Brazil:
    Originally posted by @Caleb Heimsoth:

    @Kris Russell the photos aren’t great. The angles are really awkward. One of the first photos I see is literally of just half your house.

    This is likely overpriced, by a lot I’m guessing. I’ll tag @Russell Brazil. He always gives good feedback on these sorts of things

     Thanks for the tag Caleb.

    Photography is awful. Looks like it backs up to a major road...was that taken into consideration in pricing? This doesnt even look like a rehab to me. Looks kind of dumpy. Looks like an old kitchen.

     this looks like a turn key rental house not a retail homeowner house.. and me thinks that 150k for rental houses in texas sell.  not sure what rent would be..  But maybe that's the issue..  I did some flips in Texas and first to admit we did terrible in that market.. never could sell them for what we thought they were worth or even what we got offers on .. and we did a really nice retail rehab.. I mean really nice.

    apprasials were constantly coming in 10 to 20k under what we were in contract to buy.. but the buyers are being FHA we were stuck..

    I no longer will work in that state.

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    1Reply
  • Kirsten Carney
    Real Estate Agent · Houston, TX · Member since 2019 · 3 posts · 1 vote
    7y

    @Kris Russell It’s always about price... I always recommend a professional photographer to my clients... Also- I have not looked at your listing but staging is something you may want to consider.

    1Reply
  • Frank Wong
    Real Estate Broker · Bay Area · Member since 2018 · 1k+ posts · 3k+ votes
    7y

    1. Get new photos like everyone else is saying.

    2. The landscape is fine. But trim those bushes.

    3. Drop the price $14,000 and list it at $139,000.  You are overpriced. (The kitchen cabinet above the fridge area looks very low.  Can you put a normal size fridge there? If you can't take those top cabinets out.   

    8Reply
  • Shaun J.
    Long Island NY · Member since 2019 · 133 posts · 104 votes
    7y

    Trim the hedges, do something with those windows. Do something with the grass (it looks awful) 

    1Reply
  • Steve Bracero
    Real Estate Agent · Westboro, MA · Member since 2016 · 1k+ posts · 471 votes
    7y

    I would agree, the pictures could be improved. Some of the pics do not make sense- 

    Where does it compare now to the current similar homes? The price is likely high compared to what buyers are looking at now.  

    0Reply
  • Derek Carroll
    Syndicator and Fund Manager · Victor, NY · Member since 2012 · 760 posts · 345 votes
    7y

    @Kris Russell

    As other have mentioned photos numerous times, you’d be surprised how much interest you’d get just from some professional staging and photos. Best money spent on the whole project in my opinion.

    0Reply
  • Braden Downs
    Oklahoma City, OK · Member since 2016 · 62 posts · 37 votes
    7y

    Cheap improvements: new photographs, new shutters, cut back the grass, power wash the driveway, get rid of that round boob fixture over your kitchen sink, paint the tan brick inside the room, and find a new realtor. Most of the things listed you could DIY and change all of that for under $800. 

    Ikea has some modern light fixtures, and there are a million DIY tutorials on YouTube.

    Good luck and I hope you get it sold!

    1Reply
  • Angie Shires
    Real Estate Broker · Tyler, TX · Member since 2018 · 193 posts · 143 votes
    7y

    @Kris Russell it’s ALWAYS price. If you are getting showing with no offers, then take a reduction in price. Has your Realtor given you comps? If not, you need them to make an educated decision in what to reduce the price to. If he/she hasn’t, ask them to do it. Not just a price per square foot...actual comps with pictures.

    If you are getting showings, you might not be too far off. You know you are way over priced when you don’t even receive showings.

    Professional pictures in your area should run between $200-$250. I know agents in your area that will help you get this house sold, if you decide you want to change (and from the looks of things, you might want to consider it). If you want to stick with your realtor, then they need to help you price better and make take better pictures!

    Feel free to message me if you need any help or advice.

    1Reply
  • Joe A.Business Member
    Realtor · Waco, TX · Member since 2018 · 75 posts · 80 votes
    7y

    @Kris Russell It definitely needs sprucing up inside and out. I would drop the price and just get out. My advice for the future: don’t buy in Dallas ISD unless you get a crazy good deal. Trying to squeak by won’t work in that area.

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    2Reply
  • Todd Powell
    Rental Property Investor · Corvallis, OR · Member since 2018 · 840 posts · 1k+ votes
    7y

    @Kris Russell  some harsh stuff here, but it doesn’t look like a flip. I do not know your area, but grass is spotty, and bushes need help. Curb appeal lacks totally. Pics seem weak, and overall job does not pop for me. I realize this price is really low for my area, but I think you are over priced or this would sell. I think some simple things need corrected, and next house flip you need some basics figured out as this one went poorly for you.  But, we all have to learn and start somewhere. My first flip back when was not real pretty either and I made it!

    0Reply
  • Brandon Carriere
    Realtor · Las Vegas, NV · Member since 2018 · 218 posts · 147 votes
    7y

    Price and pictures..  Pictures are horrible as many have stated

    0Reply
  • Account Closed
    New to Real Estate · Argyle, TX · Member since 2017 · 28 posts · 25 votes
    7y

    Hey what’s up @Kris Russell

    I think it’s not such a desirable area. I just bought a house in Argyle because of the school district and low crime. How’s the schools and crime in that area?

    0Reply
  • Marian Smith
    Real Estate Investor · Williamson County, TX · Member since 2011 · 1k+ posts · 961 votes
    7y
    @Kris Russell no excuse for horrid photos. Move the trash for photos rhen put back. Toilet seat down. Anything weird do NOT photo like the dark window pane. Needs curb appeal. For 3 months holding cost you could have gone to Homegoods and gotten two matching ceramic planters and put either flowering plants or fake red blooming azalea bushes from hobby lobby. $50. Flanking front door .A beautiful mirror on one wall $35. A cute colorful tea service and decorative folded linen towel on the kitchen counter. A tray with artisian soap and three rolled washcloths on the bath counter. Buying a house is emotional and adding small touches makes it feel like a home and not a rental. Cute house but you are failing at marketing. Photos, obvious reasons, and curb appeal...buyers want to like their house because it will become a reflection of themselves, the Smiths of 3498 Woodglen. Flowers make them feel happier walking up.
    2Reply
  • Ian WalshBusiness Member
    Lender · Philadelphia, PA · Member since 2016 · 2k+ posts · 1k+ votes
    7y

    When price and condition match the demand for the market the property is in, it will move. It's always about price and condition being accurate to the location.

    2Reply
  • Lucia Rushton
    Realtor · Dallas - Fort Worth Metroplex, TX · Member since 2016 · 1k+ posts · 925 votes
    7y

    @Kris Russell. Hopefully your Realtor has told you everything that has been said in this string but you didn’t want to hear it.

    If they didn’t - get a new realtor!

    6Reply
  • Jeff Garrett
    Attorney · Roanoke, TX · Member since 2010 · 29 posts · 13 votes
    7y

    @Kris Russell Echo other comments. The photos really help with selling these things. Photos and some work on the landscaping. With all the rain we just got did you weed/feed?

    0Reply
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