The Flood House: Staging Pics
For reference, here are the BEFORE pictures of The Flood House:
And here are the Staging pictures:
Front of House
Entryway
Archways
Living Room
Dining Room
Kitchen
More Kitchen
Breakfast/Eat-In Kitchen Area
Master Bedroom
Master Bath Vanity
Master Bath Tub and Shower
Guest Bedroom
Guest Bathroom
Office / 3rd Bedroom
It looks really good. It’s a beauty contest out there and you’re sure to win the buyers with this one.
They’ll pay ten thousand too much when the house in this condition because they get emotional. The previous flood won’t matter much.
What’s your listing price?
Mark
Hey Mark,
We’ve listed it at $100,000. The last sale in 2007 was $142,000 and the market has only dropped about 15-20% in this around since then, so we believe this is a great deal (especially considering it’s in much better condition than it was 3 years ago).
We’re about to close on a flood house built in 1975 that sold for 130K in 08 and flooded shortly thereafter. We have a contract for 117K but modernizied it big time.
One caveat for flippers is that, as of August 2010, insurance companies will no longer write policies on homes with aluminum wiring. Although the house met all codes, the buyer backed out untile we agreed to rewire at a cost of about $5,000.
A huge number of homes from the mid 60’s to mid 70s have this wiring.
So now we have floods, termites, Chinese drywall, mold, asbestos, lead based paint, and aluminum wiring to worry about when buying wholesale. Buying sight unseen on the courthouse steps is more dangerous than ever.
JScott,
Looks good as usual. You going to put it on the market now or wait till Jan?
Jason
Is that a half accent wall (with paint) in the guest bathroom?
Mark –
Nope, the only accent wall is the one behind the fire place, which has a faux finish…
Bilge –
Put it on the market yesterday. Hopefully we’ll get some traffic during the holidays…we’ll see…
Hi J – great job as always! Just curious on the exact paint color you used for the living room?
Thanks,
Tom
Hey Tom –
We tend to use Sherwin Williams Realist Beige (SW6078) for all of our interior walls, including in this house. That said, the wall behind the fireplace is painted with a faux finish, so that wall is textured and a bit darker.
Looks great J….. love the staging as usual!!!
You guys did a good job even without your wife there 🙂
J- What kind of tops did you use in the kitchen and bathrooms? I couldn’t tell if they were granite or not. Thx -Josh
Josh –
We use laminate countertops in both the kitchen and baths. They look like granite from a few feet back, just based on the color and pattern. We really like them…
J-
Your blog is not my favorite site and I am trying to read everything you got on here. I am trying to get into Rental properties in Houston, TX and you info is a huge help.
Question on this house….how do you get the laminate countertops to shine like that.? Granite is a big deal here but if i could get laminate to look like that I would do for a rehab property
Oops…..that was suppossed to say “YOUR BLOG IS NOW MY FAVORITE SITE!!!!” wasnt supposed to say “not” sorry about that.
Thanks Matt…I was hoping that follow-up was coming… 😉
Hey Matt –
The countertops are a high-gloss laminate. I thought it was a pretty common offering from countertop manufactures, but I’ve been asked the question enough times that maybe it’s not. The cabinet company we work with provided it as an option a long time ago, and we’ve now used that exact countertop color in about a dozen houses.
There’s an optional edge that makes it look even more like granite. Can’t remember the name of it.
Hey J
Great site!! Really enjoy all the info. My wife and I have been looking in the Austell \ Marietta area for investment properties (SFH) to rent. We’re a little “gun shy” because of the flooding in past years. However, it doesn’t seem to bother you as far as resell. Do you think we should be that concerned about those types of properties? We’ve seen some pretty good deals but not sure about resell.
thanks
Hey Allan –
There are a lot of little nuances to purchasing/reselling houses in these areas these days, but the biggest point you should be aware of is that many of the flooded neighborhoods were NOT in flood zones prior to the flooding, but that SOME of them will be reclassified into flood zones in the next year or two. Basically, after the big flood in September 2009, the city of Austell started putting together a proposal for the revision of the FEMA flood maps. This proposal was submitted to FEMA about a month ago.
Now, FEMA has three options:
1. Accept the changes recommended by the City of Austell
2. Deny the changes recommended by the City of Austell
3. Modify the changes recommended by the City of Austell
Ultimately, FEMA will probably make their decision of which of those three options to pursue sometime around January 2012. Assuming they decide to go with either 1 or 3, the actual changes (the revised flood maps) will likely be released sometime around January 2013.
So, any flood house that you buy in Austell (where most of the flooding occurred) runs the risk of being reclassified into a FEMA flood zone come January 2013 (or sometime around then).
The good news is that the City of Austell Public Works Department has a list of houses that they have proposed get reclassified, so if you visit the Public Works Department (and can find someone to talk to), you should be able to get information about specific properties and what their likely fate will be.
For us, we are ensuring that any properties we buy that were flooded are NOT proposed to be moved into a flood zone. This doesn’t mean that they won’t be (and also doesn’t mean that the ones that are proposed to be moved will be), but at least we can tell our buyers that to the best of our knowledge, the house won’t be reclassified anytime soon.
Btw, all the info above came straight from the Austell Public Works Department…
When we did our flood house we bought flood insurance based on not being in the flood zone. It’s my understanding that the policy was transferrable to the new buyer and they are “grandfathered” in and can maintain the policy at that same low non-flood zone rate.
But if they ever let it lapse…
Mark –
I didn’t realize you could do that! Thanks for the info…I’m going to call my insurance guy tomorrow…
Great, let us know what he says. My policy was less than $300 annually.
What kind of floors did you use in the living room and kitchen? Are they laminate or hardwood? They look great!!