My Flip is Not Selling

[Rachel Perl]

Hi,

I'm hoping to get some advice. We renovated a house in St. Petersburg, FL and it's sitting on the market for over 80 days with no offers yet. It's in a fantastic neighborhood but the layout is choppy. (for example, sunken dining room and steps going down to the 2nd bathroom and laundry room)  After a ton of showings the feedback we're getting is that the layout is an issue. It has a mother-in-law suite which we thought would be a good selling point. The price was lowered multiple times but it didn't help. I'm not sure where to go from here. It doesn't make sense to start doing construction at this point after fixing it for almost a year. I would REALLY like to sell it but if we have no choice we will have to put it on the market for rent, I just wonder if we'll have the same problem. 

I would appreciate any tips. 

Thank you.

Rachel

[Rick Albert]

There are two reasons why a property hasn't sold: The agent or the price.

If you feel like the agent has done everything in their power to get people in the door, then the agent isn't the issue.

Generally speaking, with high prices and now high interest rates, buyers are getting pickier because they know they will likely be in the home longer than expected. 

At some point someone will buy it. Heck, I'll buy it for $1. But unfortunately it sounds like the floor plan is so rough that the discount needs to account for it.

Alternatively, you can start marketing the home to cities/neighborhoods that are a higher price point. As people get priced out of those areas, they need to go somewhere and you can be the alternative. I did that for a condo with high HOA dues here in Los Angeles and after sitting on the market, we got 3 full price offers.