Hoping to sign a contract on a 4/4/4 single family home, however I'm worried about how long it may take to sell the property. We will be remodeling, new granite, floors, paint, hvac, etc. We will also be staging the home. Is anyone familiar with the market in Cleburne, TX 76031 and how long the home may take to sell?
Update: I spoke with 3 agents today in the Cleburne are and all have stated that the market is hot right now and homes are indeed selling. I will be proceeding with this deal.
I flip houses mainly in small communities all over Texas. I will say I have only done a couple in the area over the years sonit is not a primary area for me. You did not give a lot of info on the property but I am guessing that a 4/4/4 is going to be in excess of 3000sf. My experiences with properties of this size in small communities are:
- Rehabbing a huge house obviously cost more and takes longer due to the size. An unforeseen roof or foundation issue can cost tens of thousands. Be careful and know your numbers backward and forward
-The pool of buyers in small communities are small. The pool for huge houses are even smaller. I have had the best renovated 3000sf house in an area sit while the dated 1800sf sells. Worries of the cost of utilities are one of the bigger push backs. Some of my bigger houses have taken a year to move. I have done ok in the end, but your numbers need to be based on a longer hold time
You are correct, the home is 3,500sf. What you are telling me makes a lot of sense and I will be sure to factor in the possibility that the house could sit for longer than expected.
You said that you have had some bigger houses sit on the market for a year. What do you believe is the reason for this? Was your house staged? Were you using an agent to help market the property? was it the market, season, or area? Any advice you can give me that could help me sell the property as quickly as possible would be greatly appreciated.
Sounds like Greg thinks the pool of buyers is the reason...small pool. It might take a year for new buyer to enter the pool....in larger communities they plop in more frequently.
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