For those that don't know a Flip is a term used for a house that was bought at a wholesale price, rehabbed or improved and then put back on the market for retail. The goal is for the investor to improve the house and make a profit.
Being a full time REALTOR(r) I've shown quite a few Flips while working with buyer clients. The one thing I can't understand is why some of these flippers put the home on the market when it's not complete, and then try and get top dollar? I don't know if it's their agent rushing them, wanting to get it on the market or if the client(s) are insisting or both!
This past summer the market has been hot in our local area with inventory low, especially for private sales, making it a sellers market. However I've been in quite a few flips with different clients, that were incomplete. Why not take an extra week and get the home complete? Believe me it will make a difference, especially if you want top dollar. I've shown some with: paint spilled on the kitchen floor ( yes you read that correctly), missing moldings, unfinished bathrooms and kitchens. Tools and supplies lying all over the counters, etc.
You can guess what happened. The buyers were turned off, as was I. Yes, I can see around things and see the potential, but when you are asking a buyer to pay at the top of the price range and this is what they see, they get turned off.
Sellers - take that extra time and finish your project, do good work, include kitchen appliances and you will profit more in the long run.
Buyers - make sure you have a Buyers Agent working for you and always get a private home inspection.
If you would like more information on St. Clair Shores Real Estate or the surrounding Macomb County Real Estate Market, give me a call or email and I'd be happy to assist you. Want to know what your St. Clair Shores Home is Worth? Contact me for a free Market Analysis. No pressure, No obligation.
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