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Updated about 10 years ago on . Most recent reply

what should I do?
Hi all,
I bought a house 64380 Thumb Dr, Palm Springs, CA as an REO for $75,000. My goal is to resell the house, I don't want this as a rental. I put in new flooring, new windows, new kitchen, new bathrooms, new paint, cleaned up the landscaping, all in about $21,000 spent on repairs. I listed it for $139,900 and it's been on the market for a little over 2 weeks. I only got 2 calls on the first day, no showings or calls since. I think I might be a little over priced but it's totally remodeled and I think the price is fair, perfect for an fha buyer who has no money to fix up a house, it's turn key.
My question is do I just reduce the price until it sells, or is there something a little more creative I can do to get my $140,000 sales price?
I have a loan on it currently for $60,000, payments $600/month
Any advise from seasoned guys would be the best. What's the best way to maximize my return? what options do I have?
thank you for your time,
Peter Hanson
Most Popular Reply

Greetings Peter. In addition to Margo's marketing suggestions you may want to consider offering "Rent or Lease to Own." The property itself is going to appeal to a demographic atypical for the area. There are lots of BP blogs and podcasts relating to this topic. I wish you the best. Rick