Thanks J, just one more thing to think about! LOL

We ended up not remodeling the kitchens or the bathrooms in this one. Instead we priced it very aggressively and are looking for buyers who really want to live in this school district (it’s one of the best in the area), and want to get in at a great price.

Of the 156 4-bedroom houses for sale in this high-school district, ours is priced the lowest (tied with an REO) at $144,900, with a lot of new construction in the million-dollar range. So, instead of competing with the other houses at fair-market-value ($160-190K), we decided to look for buyers who were interested in the school district but couldn’t otherwise afford it, and who didn’t mind taking on a few projects (if they want to) after they move in.

Yeah, we got this house for a steal, mostly because of the mold and because it was a probate sale. While they likely could have gotten another $25K for the house, the family was happy to take the quick profit and move on.

Yup, this one is in a very nice neighborhood. The 20-30 year old ranch houses in this subdivision sell for $160-190K, and newer construction in the area is (was!) selling for $700K+.

According to my wife (our realtor), this one is under-priced for the market by about $20K, so hopefully just the MLS listing will be enough to attract a lot of interest. If not, we’ll do some additional marketing (emails, direct marketing to neighbors, etc).

Only question: How much would granite cost to put in the kitchen? I think you’d probably get the $1,000 back it costs?

Looks like a nice house that didn’t need too much work. Were you able to get a good discount because of the mold and water problems??