House #5: Rehab Complete

March 15, 2009 · 6 comments

It’s been a couple days since I last posted; with lots of visitors in town since the baby news, lots of work going on, and lots of college basketball to watch, it’s been difficult to find time to write…

Anyway, we completed rehab on The DIY House on Friday, and it’s now officially on the market

I’m very pleased with the results. In fact, in terms of suitability to my specific tastes, this is probably the house that I’d most like to live in if I had to live in one of my investments. Not only is it the biggest in terms of square footage, but the open layout, the brand new kitchen, the new back deck, and the now-partially-finished basement make it a house that I imagine a lot of people will love.

Here are some after pictures to give you an idea of the final product…

Unfortunately, we’ve found that this house is very difficult to photograph well; perhaps it’s because of the open layout, but we just can’t seem to capture how large the room are and how nice the house flows. Hopefully the MLS listing is enough to get potential buyers’ attention, and then the house can sell itself.

We’ve decided to list this one a bit higher than previous houses, at $134,900. We anticipate dropping the price a bit in a week or two, when we get closer to the time when we can actually sell the house (this one can’t officially close sale until the end of April, so if someone put in an offer today, they’d have to wait 6 weeks to finalize the sale).

6 responses to “House #5: Rehab Complete”

  1. Ingrid says:

    Beautiful! I love the furniture that you use for staging! May I ask where you bought it at?

    When you say you can’t close until the end of April, do you mean because of the FHA requirements?

    How is your wife feeling? I hope she’s doing well.

  2. Steve says:

    The house looks awesome. I think the pictures do a pretty good job of making it look open. If your competition is mostly REOs you are going to WOW every buyer that walks through the doors!

  3. J Scott says:

    Thanks for the kind words, guys!

    Ingrid –

    For the most part, all of our staging furniture comes from three places: Furniture Land, American Signature and Craigslist.

    My wife spends hours looking for the perfect combination of furniture and accessories, and the tough part is ensuring that the stuff is optimal for staging, meaning that it’s light-weight (easy to move), and small (makes the rooms look bigger).

    She really does an amazing job…

  4. kristeen says:

    Another great job, Lish! This is my favorite so far. Great choice on the exterior paint color – what a transformation. Keep up the good work.

  5. Don says:

    I hope there are buyers that appreciate your work as much as I do. You and I had a conversation on Steve’s site a couple of weeks ago about lease purchases (DRH). How is that going? It looks like your wife and mine have the same taste in decorating. I would live in our most recent rehab too. But, now she wants her house to POP. There ain’t no profit in that.
    Good Luck

  6. J Scott says:

    Thanks Don!

    I took your advice on Lease Purchases for The Corn House:

    And I’m looking forward to seeing how it goes. I think we got a great deal out of it, and if they can close when they expect to (and when our mortgage guy says they should be able to), this will surely be a great deal.

    Thanks again for the advice!

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