I would like to get a local opinion on a flip I am selling in Indianapolis. We are approaching three months on the market with no offers. We had it staged and did another open house two weekends ago after dropping the price by $1k (to get on the "price drop radar.") There were few people who even showed up. We dropped it another $4k since.

Last showing's feedback said, "Did not like the layout."

In any case, there has not been much interest, and I wonder whether the price may be too high.

Can anyone local give me an opinion, please?  Thank you.

https://www.zillow.com/homedetails/3905-Carrollton...

Just a quick glimpse and the price seems too high for the houses around it. The house looks nice but if the layout isn't the best, it could be why people aren't interested in making an offer.

@Al D. ,

Did you get a CMA? How did you arrive at your selling price?

Layout wise, ...

The stove next to the wall is a possible turn off. I'd have put it at the other end of that space, put the dishwasher next to the wall. It's good that the microwave range hood is on an outside wall for venting - that much is good.

The room with the toilet - is that just a powder room? Spacious, but kind of a waste. The bowl under the unfrosted window may be a turn off, also.

The full size shower with no tub could be a minus unless the prospective buyer is physically challenged (low / no step-over into the shower).

The door out to the balcony looks damaged.

My $0.02 ...

The photography needs a lot of work. The pictures are choppy, dark, slanted, and don't really tell the buyers much about the layout of the house. Have you looked into a professional real estate photographer? It would make a world of difference to your listing.

The description could use work too, why don't you highlight all of the new upgrades you did?

I am not local to that area so I will leave the price discussion to the locals. 

It is way too close to 38th St. It will probably never sell at that price. You are a few miles off. If it was on the south side of Fall Creek closer to 28th St through 16th St it would have sold  pretty quickly at that price. If it was even more north past 46th closer to Broad Ripple you may have had a better chance at that price......but 38th St??? It's definitely overpriced. Did you get lured into that property because of the state fairgrounds as a selling point? The home and renovations are absolutely beautiful but you need to move it a few miles out to get that price point.

I forgot to say that I do like the style of the materials you chose for the house, I didn't only want to give negative feedback!

I agree with everyone above. The location is not good. If it was south of 38th even, that would be an up and coming area (mapleton fall creek). Layout wise, I definitely think you should move the stove/microwave, without question. It looks very awkward. The bathroom looks a bit strange as well with there being so much space between the vanity and toilet.

Regardless of everything above - this is a learning experience for you. I'd just drop the price more aggressively until you get an offer and move on to your next flip. Winter is coming - and buyers don't look after Thanksgiving.

@Al D. Just sent you a PM.

Agree with Deisha above. 46th is a good demarcation point (for now). You probably  need to be below 200k.  Too many options at that price point further north with walkable amenities.  I've seen worse kitchens but that one could've been done better.  Overall good job!

too many options at *your* current price point

Just my 2 cents, but the wooden porch and stairs in the back looks old and close to falling apart. Also the other houses in the same shot look old and beat up. It contrasts too much with the renovation you did.

Originally posted by @Sara K. :

The photography needs a lot of work. The pictures are choppy, dark, slanted, and don't really tell the buyers much about the layout of the house. Have you looked into a professional real estate photographer? It would make a world of difference to your listing.

The description could use work too, why don't you highlight all of the new upgrades you did?

I am not local to that area so I will leave the price discussion to the locals. 

My experience may be local, but I was selling my primary house through the agent and we put around 20+ professional photos. Out of 15 showings 10 potential buyers had not looked the pictures and had no idea what they are being showed by their agents. At the end it really started pissing me off - what a time-wasting, both mine and theirs. 

I don't believe new pictures will do the trick.

Let's face the truth - the topic starter have chosen the tough way to flip houses. He will need to jump through a hula hoop to sell a house with the asking price 20-40% above the selling price in a neighborhood (4 of tens were sold in your price range - one without using MLS, the other is MFH). Only time and a whimsical buyer will save the day

@Al D. - With my knowledge of Indy market this is stretch, I can only wish you good luck hoping some other brave CA investor bails you out.

Good Luck

Vivek