Consider it SOLD !!!

After listing with our new agent, multiple showings, and only 7 days on the market, we got a contract on the Project House!  The buyers said that this property was her “dream home” which is understandable since the quality is in the details. We are glad to not only see this property go to a good buyer, but also see that the buyer will be able to take advantage of the Stimulus Extension. The contract on this property should move along quickly as there is only a 5 day option period, and we are confident that we won’t have any major issues with the inspection. Closing should take place within the month of January! We were also able to reuse the same Title company that we used when we purchased it, saving us a good bit of money in escrow fees and other miscellaneous charges.

Stay tuned as we have our sights set on new properties that we will be rehabbing! 2010 is going to be a great year as things improve both locally and nationally!

www.BuyMySAproperty.com

The Good, The Bad & The Ugly

Our recent flip has been on the market for approximately 90 days, and while this project has been the subject of an unindustrious & dilatory realtor who failed to follow-up with clients and properly market the property, things were turning ugly as our lender and our team (both) are anxiously waiting for a  much needed sale. Every other house in that neighborhood (sub-market) has either sold or rented and in the interim, we have had a lot of showings from buyers agents. The good thing is that we ran across an extremely self-motivated real estate agent on a social media site that is not only “attention to detail” oriented, but markets her listings with enthusiasm and a keen sense or salesmanship. Our new realtor, Shauna Zamarippa works for the same company (Re/Max) and is exercising a well thought out marketing plan.

The key thing to focus on here is that as the market has changed, the way in which you sell must also change. Sure, the price may sell a home, but there are other variables that can be controlled and other strategies that can be used that will make your flip look more appealing. Simply posting it to the MLS and waiting for a buyer to come strolling along is hasty and our focus is to get this property in front of as many buyer’s agents (and clients) as possible within the next two weeks so that we can achieve the end result - getting an offer to purchase. Many people forget that realtors, contractors, and others are similar in the sense as there are many out on the field – some good and some bad. You keep the good ones around for a long time and don’t make the mistake of using the bad ones again.

Once our property was listed on the MLS by our new agent, we had 3+ prospects within the first hour, which is good. Shauna has developed new pictures, new flyers, and an online virtual tour (which you can see now at http://marketing.remaxdesigncenter.com/14/95814/1021581/index.ipv ) which showcases the property with new crisp clear new images showing every detail of our project. With the stimulus extension in effect till April 2010, and people filing taxes early in January, it isn’t uncommon to have many people out shopping for a new home at the beginning of the year.

Our goal is to have as many interested buyers look at our property as possible in the next couple of weeks. Putting a well-thought plan into action is always prudent and we look forward to the results!  If you are interested in viewing this amazing property in Universal City, feel free to call Shauna at 210-787-6537. Stay tuned for frequent updates, and check us out at www.BuyMySAproperty.com for additional information regarding real estate problems we can help solve in the greater San Antonio area!

Quick Thinking & an Early Strategy

The Project House has been on the market now for a full 2 weeks, and we have had many, many lookers with a lot of positive feedback on the overall rehab. While waiting on an offer to be submitted, we carefully calculated that lowering the sale’s price of this project earlier in the game versus later would not only bring more attention from potential homeowners, but also bring a sale closer as well. The main idea behind this thinking is to have the buyer feel as though they are getting a “bargain” and not just a great house at fair market value. All of the other houses in this neighborhood that were for rent (there were three), have rented and a few of the other houses within a very close proximity to our project have already sold. Some buyers are focusing on the overall price while others are looking for different features that other homes have to offer in comparison to ours. In the end, everyone has expressed their positive feedback on our project and complimented its appearance, cleanliness, and noticed the attention to detail that we focused on implementing into the rehab. With the average Days on Market (DOM) ranging from 17 to 40 days for this area, we are confident that the Project House will fall somewhere in the middle with an earnest buyer.

Stay tuned as we post the final details regarding the sale of the Project House, and as we post additional information about upcoming new projects!

The Project House is D-O-N-E!

The Project House wrapped up and was completed Thursday night! All of the last minute stuff got done, but not without its share of last minute hurdles. The counter-tops were supposed to be installed by our sub-contractor, but when he decided he needed some time off, we called for backup and someone else was there in an hour. The kitchen sink, plumbing, and appliances went in as well as the entire house got cleaned and move-in ready.

We had several of the neighbors in this neighborhood come by and tour the property, and while many told us a story about the old homeowners, each was glad to see that the property got fixed up and not left to further deteriorate. Every single person that set foot in the property was not only very impressed, but eager to share their positive comments on how well the property looked. Such positive commentary is always a big plus – especially before the house has gone on the market!

Friday morning the house went on the market (MLS) and we listed it well below market value so that it will sell quickly and we can move on to the next project sooner rather than later. The best part is that the Project House has better features, better curb appeal, and better equity in it for a potential buyer, than any of the other properties for sale in the area.

Check out our video on YouTube at www.YouTube.com/BuyMySAproperty to see for yourself the transition of the Project House to the nicest house on the block!

Stay tuned as we post the final sale information regarding this completed project!

The Final Countdown

The Project House is a few small steps away from being complete and ready to put on the MLS. We had the brick repaired where the foundation repair cracked several bricks, and this past weekend the carpet was installed. The new carpet looks amazing, and as always, I personally love the smell of new materials such as carpet.

The landscaping job turned out to be an amazing job as all of the work not only got done in a very short time frame, but the results were far better than expected! The Project House literally is the nicest looking house on the block as anything else on the street or neighborhood needs some form of work done in their yard. What was an old & unmanaged property has now been transformed into a well manicured yard that will appeal to many potential buyers.

We picked up the countertops, the new kitchen sink, and a new brushed faucet set which will be installed tomorrow, and after this and we install some hardware for the dishwasher, the kitchen area is complete. The appliances were delivered this weekend and we will install these as well while wrapping up this hot selling feature of the property. This is definitely a kitchen that not only blends with its own internal features, but looks warm and inviting.

Stay tuned as we wrap this project up, and post our final update!

Putting on the final touches

The finishing touches are underway and we are literally only a few small steps from having this project completed and ready to be sold! Tomorrow carpet is going in, and on Monday the landscaping is going to be completed which will transform the property with a fresh new look making it the best looking house on the block. There are three other properties in the area that are similar to ours, but they all need a small amount of maintenance, each desperately need some fresh landscaping, and none of them have the vibrant touches on the interior that ours has.  The rain this week has definitely helped and we will put some grass seed in the areas that need it tomorrow giving it a chance to grow during the next few days of wet weather.

My partner found an oven/stove, a dishwasher, and a microwave with a range vent that will mount over the stove, all matching, all the same brand, all in excellent condition on Craigslist for less than $400 total. We went and met with the seller that had just remodeled his own kitchen and had recently put in all stainless and was wanting to sell these as a group. This saved us over half of our estimated repair budget allocated for appliances! Craigslist is starting to be a better and better resource for services and supplies needed in our projects that we will definitely rely on more and more in the future.

We had a garage door repairman come by today to service the garage door opener, and as it turns out he was first to want to view and tour our property! It just goes to show that your first showing can come at anytime and can be from anyone interested, even when you least expect it. The repair guy was able to fix the garage door opener at a good price and seemed very interested in our property as he said he really liked it and would be in touch with us. 

All of the light fixtures on the interior and exterior of the Project House were installed the other day with the exception of one – the main light fixture needed in the living room that has a large high vaulted ceiling. This one light fixture is so high up that our subcontractor is going to have to get & use a much taller ladder in order to reach the mounting bracket safely. We also put in some new locks and got all of the dead-bolts and doorknobs squared away and in the next few days we are going to schedule a thorough cleaning making the property ready for the new buyer!

Stay tuned as we complete the final stage at the Project House and queue you in on our open house event!

Hitting the 2 week mark

The Project House is coming along and is close to being wrapped up within the next few days. Earlier this week we painted the outside of the house and the interior of the garage. Most residential rehabs probably don’t have the interior of the garage painted, but the garage at the Project House had evidence of wear & tear and some maintenance flaws, so we sprayed the whole thing antique white to give it a more uniform appearance.

With all of the interior paint, trim, and tile work completed, all of the touch-ups are getting done, and the driveway is getting another acidic treatment to remove any and all of the remaining stains from the previous owner. Carpet is going in this weekend, and the landscaping is set up to be done on Monday. I have some extra grass seed that will find a good use in some of the spots in the yard that need it, and now is the perfect time since we just had a good dose of much needed rain.

The light fixtures went in yesterday and we got all of the interior light fixtures and ceiling fans at Home Depot for well below budget as the store was having a sale on some really nice fixtures that had a pewter/nickel finish. We have a few days left to shop around for the 4 outside fixtures we need since the counter-top manufacturer called and said that the counter-tops would not be completed till mid next week since their supplier dropped the ball on delivering the materials that they needed to do our job. In the meantime, we are in the process of selecting a sink and faucet combination that will blend well in the kitchen.

Stay tuned for an update as we complete the last few tasks at the Project House and meet with our realtor to list this amazing looking property!