Why wont my flip sell?

Flipper · belleville, NJ · Member since 2015 · 23 posts · 6 votes

Hey guys, Long time listener first time caller. I have the same issue that others on BP are having. My flip wont sell. I got the house pretty cheap but dumped a boat load into it. I know i know. Mistake. But the house looks great but isn't staged. Do you think that's the problem? The neighborhood is nice but does board,( down the block from) an area that isn't the best but not the worst either. I'm in a town Orange new Jersey about 10 mins from Seton Hall U. If staging is the answer how long do you do that for? Any other cheaper options that can help?

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Linda S.

Investor · Richmond, VA · Member since 2016 · 1k+ posts · 2k+ votes

@Andrew Stair

Overall, the pictures where the house looks done, it looks amazing!!! It's a gorgeous house, and I can see all the hard work! I can 100% see why it hasn't sold, it looks unfinished! People paying top dollar are looking for perfections, not having to hire someone to check or fix something. I mean this in the nicest way, but it looks sloppy... exposed outlets, dumpster!? unfinished fireplace, dumpster, hanging electrical, holes in the closet, and the tile in the bathroom doesn't match the house at all, and the kitchen, which should be your masterpiece is lacking a dishwasher, and it looks like there is a hole behind it, which makes me as a potential buyer question it..

I think if you fix the things below, and get a professional photographer, you'll get it sold in no time!!! Remember-- people pay $$ for perfection, and move-in ready, so it might also be good to have a few realtors, and OCD friends do walk through to make sure everything is good!

Also, hire a cleaner-- again professional cleaner, to dust and make sure it's spotless!

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Andrew Johnson
Real Estate Investor · Encinitas, CA · Member since 2016 · 3k+ posts · 3k+ votes
9y
@Andrew Stair What's the feedback from your realtor? If you're FSBO what are you doing to market it? How are you a PPSF compared to the neighborhood? Are you in a neighborhood where homeowners actually buy or is it an investor-only style block? Need more data :-)
Otherwise the only assumptions are 1.) your price is too high, 2.) you over-improved for the neighborhood, 3.) better to get out and lose a little money than keep eating the carrying costs.
And, for what it's worth, if you're using *that* picture to advertise the property that's Problem #1. There's a lawnmower and a dumpster in the picture. Who the heck thinks: "Let's take our family to visit the blue house with the dumpster and see if we want to buy it!"
12 Reply
Kuba F.Pro Member
Real Estate Investor · Los Angeles, CA · Member since 2013 · 2k+ posts · 694 votes
9y
To get to the bottom of your problem, first you have to answer some basic questions:
1) How long do similar properties stay on the market?
2) How are you priced in comparison to other similar properties?
3) Are you getting some traffic but no offers, or not even any traffic?
To answer your staging questions, 99% of the time staging is worth it. How long do you stage? Until all of the contingencies are removed. Cheap alternatives are to rent some furniture and stage it yourself instead of hiring it out. You don't need a lot of furniture, just enough for your buyers to imagine themselves in the house.
1 Reply
Brian Pulaski
Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
9y
Post the link to your ad. Without that, no one is going to be able to offer a ton of help. Lets see the house, price, location and we can offer some help.
Just from the photo you posted, the color is hit or miss and I bet you are losing buyers simply because of the bright blue. The dumpster and lawn mower also detract, and what appears to be an incomplete front walkway. Lets dissect the listing and offer help.
2 Reply
Jason Hirko
Lender · San Antonio, TX · Member since 2016 · 1k+ posts · 1k+ votes
9y
Is it just me or does the house look like it is leaning to the left?
Also, you can buy $3,000 worth of furniture from Wayfair and the like and stage it yourself for as long as you need to. Then donate it to a local charity and write it off.
2 Reply
Linda S.
Investor · Richmond, VA · Member since 2016 · 1k+ posts · 2k+ votes
9y
@Andrew Stair,
Can you post a link to your ad? right off the bat, I agree the bright blue color is very love/hate... and i agree.. seeing a dumpster, lawn mower and weeds in the walk path don't make people pay top dollar. Lets see the pics and see how we can help!
0 Reply
J ScottPro Member
Moderator
Investor · Sarasota, FL · Member since 2008 · 17k+ posts · 17k+ votes
9y
What is the feedback from the buyers/agents walking through the house. Your agent should be having a 5-10 minute conversation with each of them, and getting as much information as possible about what the buyer/agent thought and what could be improved.
If your agent isn't doing that, get a new agent...
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5 Reply
Andrew Stair
OP
Flipper · belleville, NJ · Member since 2015 · 23 posts · 6 votes
9y
Thanks. @Andrew Johnson. I will take the information that you have given me. The picture was mine. I do agree that the dumpster isn't the most appealing. It will be removed asap. Thanks again
0 Reply
Brian Pulaski
Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
9y
295 Cartaret Ave, Orange NJ? I just peaked at the listing.
From the initial look the listing main photo blue color looks more subdued, which I think helps. The interior photos are plain, and the house looks dirty and even unfinished (no light fixtures in some places, paint not done, etc). This could be keeping people from looking if the traffic has been low.
A quick glance at the local area and I see a few houses up around your price range, though they appear larger. The biggest thing I saw was the recent sales, when looking a few blocks around were all lower, unless larger homes. It could very well be a pricing issue.
3 Reply
Victor S.
WorldWide · Member since 2016 · 1k+ posts · 1k+ votes
9y
Originally posted by @Brian Pulaski:

295 Cartaret Ave, Orange NJ? I just peaked at the listing.
From the initial look the listing main photo blue color looks more subdued, which I think helps. The interior photos are plain, and the house looks dirty and even unfinished (no light fixtures in some places, paint not done, etc). This could be keeping people from looking if the traffic has been low.
A quick glance at the local area and I see a few houses up around your price range, though they appear larger. The biggest thing I saw was the recent sales, when looking a few blocks around were all lower, unless larger homes. It could very well be a pricing issue.
https://www.redfin.com/NJ/City-of-Orange/295-Carte...
Brian is right on the money. Definitely clean up the place and take new pictures with fixtures and outlet covers. Redfin also has the price estimate lower by about 10k. I tend to trust R's estimate over Z.
0 Reply
Gray Hall
Real Estate Broker · Denver, CO · Member since 2017 · 54 posts · 30 votes
9y
In the first sentence, the 4th word "jus" needs to be corrected as well as the extra space before the first comma. Seems minute, but lack of attention to detail in the description with the current pictures would deter me from viewing this house.
0 Reply
Zach Mitchell
Investor · Orlando, FL · Member since 2012 · 183 posts · 155 votes
9y
Get professional pictures taken! It's the best $150 you can spend. I don't understand why so many "professionals" in our industry don't let the other professionals do their job. Getting a cleaner in there is obvious, I'm assuming you got a little ahead of yourself and wanted to get it listed before you were 100% finished. We never do that though since you only get one shot at a lot of buyers, and once it's on their "already seen it and don't like it" list it's going to be very hard to get them back. Definitely get professional pics taken and make sure all the little minor stuff is taken care of like suggested above. And don't ever post another pic with a dumpster in it!
5 Reply
Rebecca McKenna-Inman
Real Estate Agent · Las Vegas, NV · Member since 2015 · 18 posts · 13 votes
9y
As an agent that has sold almost 1000 homes this is NOT good marketing of your property. You must think of this as a product that you are presenting to the market. Would you go into a store and pay top dollar for dirty, used items. Have the home professionally cleaned, finish the interior, remove the dumpster. In my market unless it's a higher end home we don't usually stage with furniture but I do go in with plants and decorator items (ESPECIALLY THE KITCHEN & BATHROOMS) so that my professional photographs look great. I would not put your home on the market as it shows in this photographs. Buyers perceive this as a lipstick rehab and will question how you handled repairs, major components like HVAC systems, etc... I say pull it off the market a few days and get it MARKET READY.
9 Reply
Wayne W.
New to Real Estate · Chino Hills, CA · Member since 2017 · 23 posts · 8 votes
9y
To me, the big issue is the exterior(interior is good enough for the price range). It looks like this house is mix/matched with 4 different type of materials(Roof, Chimney, The big window side, the two small window side/door, garage, steps to front door) and they don't go together too well.
rgds
0 Reply
John CasmonPro Member
Cincinnati, OH · Member since 2013 · 1k+ posts · 1k+ votes
9y
Just looked at the posting....buyers will see this and immediately have one of two reactions. 1) pass OR 2) the house isn't done yet.

What other explanation could there be for a large 30 yard dumpster being so prominent in the main exterior picture? You can see all the dust on the floors and light fixtures hanging from the ceiling. I would suggest finishing these items, removing the dumpster and using a professional camera or photographer to take better shots. You probably don't need to stage, but should still get flowers and stage the first floor bath with hand towels, soap, candles, etc.
0 Reply
Linda S.
Investor · Richmond, VA · Member since 2016 · 1k+ posts · 2k+ votes
9y
@Andrew Stair
Overall, the pictures where the house looks done, it looks amazing!!! It's a gorgeous house, and I can see all the hard work! I can 100% see why it hasn't sold, it looks unfinished! People paying top dollar are looking for perfections, not having to hire someone to check or fix something. I mean this in the nicest way, but it looks sloppy... exposed outlets, dumpster!? unfinished fireplace, dumpster, hanging electrical, holes in the closet, and the tile in the bathroom doesn't match the house at all, and the kitchen, which should be your masterpiece is lacking a dishwasher, and it looks like there is a hole behind it, which makes me as a potential buyer question it..
I think if you fix the things below, and get a professional photographer, you'll get it sold in no time!!! Remember-- people pay $$ for perfection, and move-in ready, so it might also be good to have a few realtors, and OCD friends do walk through to make sure everything is good!
Also, hire a cleaner-- again professional cleaner, to dust and make sure it's spotless!
20 Reply
Brian Erlich
Investor · Roswell, GA · Member since 2016 · 73 posts · 38 votes
9y
@Andrew Stair,
All in all you got some great suggestions. I noticed that there are in excess of 20 homes for sale within a few blocks. Have you shopped them to make sure your home is competitive at that price? The volume of available properties in the immediate area may make for a competitive market.
0 Reply
Brian Pulaski
Flipper/Rehabber · Montgomery, NY · Member since 2016 · 2k+ posts · 1k+ votes
9y
I Just did a look through the photos and can say there is a lot going on that would have me looking at other houses.
Just on your main front of the house photo:
- Trim around garage door looks like peeling paint?
- Trim around front door is missing.
- Front walk is not done/missing.
- An obvious photoshop attempt in the lawn to cover up the patchy grass.
- Of course the large dumpster.
If the house shows like this in person, people will be turned off before they even enter the house.
0 Reply
Judy Parker
Rental Property Investor · Closter, NJ · Member since 2015 · 884 posts · 722 votes
9y
If it's languishing on the market, the Price is too high.
How about renting it out?
0 Reply
Wade Rustici
Investor · Lee's Summit, MO · Member since 2017 · 31 posts · 7 votes
9y
Does it come with the dumpster??? lol Jk,
You may be better off renting it out for some passive,
or after its rented sell it to an investor to make some money and wipe your hands of it.
0 Reply
Jason Hirko
Lender · San Antonio, TX · Member since 2016 · 1k+ posts · 1k+ votes
9y
And peel the plastic off the fridge!!!!
0 Reply
Larry Turowski
Flipper/Rehabber · Rochester, NY · Member since 2014 · 1k+ posts · 1k+ votes
9y
@Linda S. has it absolutely right. Even if all of those things are quick fixes it would be worrying to me as a buyer about what else wasn't done with care.
That and price. Price solves everything. Staging helps sell more quickly but it has to be priced right for the neighborhood.
0 Reply
Joshua ThompsonBusiness Member
Accountant · Melissa, TX (Remote) · Member since 2017 · 210 posts · 135 votes
9y
The house looks good. Don't look at all the comments and get discouraged but instead get better. It looks like you did good on most of the major things but its the small stuff that makes a huge difference. If you don't believe that, paint all the wall bases (vinyl trim) in a room purple. Either you'll realize the difference once you're done or just realized they were there. I think with a few changes this will look even better. Good luck!
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Jennifer PetrilloPro Member
Investor · Asbury, NJ · Member since 2015 · 226 posts · 205 votes
9y
I like the blue...
There is a lot to like here, you clearly did your homework on what appeals to buyers, but I agree with the other writers, the house needs to be spotless clean and also attention to detail is paramount...if buyers see a bare bulb hanging from the ceiling, they wonder where else you cut corners and what they cannot see that might be shoddy. A flip is basically like a new build, that is the level of "newness" that buyers expect.
Also check your comps and consider pricing slightly below since you want to get out of this deal.
What is your listing like? Make sure it mentions all the good things about the house and the neighborhood that might not be apparent to buyers when they visit.
Please keep us updated!
0 Reply
Account Closed
Las Vegas, NV · Member since 2017 · 32 posts · 18 votes
9y
She needs to reveal her budget be4 yall start spending her money. Maybe her boatload of cash is less than a boatload NOW!
0 Reply
Sandra B.
Orange County, CA · Member since 2017 · 36 posts · 24 votes
9y
I hate to say this but I just don't think the comps support your price. Everything I'm seeing closed over 300k is either a multi or 5+ bedrooms. Some 3/3s closed in the high 200s but all are at least 500 square feet larger. Currently on market I see another well executed flip at $299k that is a 5/3, larger square footage, and further south (which in my experience is a more desirable location). Check out 385 Tremont Ave. The house looks beautiful. I think you need to pin down the comps and come up with a realistic price. Also, you need to contact Zillow. The property is not coming up on a Zillow search and the Zestimate is $226k. While investors might prefer redfin, buyers generally turn to Zillow.
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