Trying to understand why house isn't selling well

[Kris L.]

Hello,

I finished up a flip in Dunedin, at 1545 Pasadena Dr and am puzzled why it is struggling to sell.  It is only a couple blocks off the water, and the lot backs onto a very nice bike trail, but I am not getting much in the way of showings (outside of a couple open houses).  I am trying to figure out if I priced it wrong, or if there is something I overlooked on the rehab that is really brining it down.  Anyways, I figure maybe a different perspective might help me see an issue that I am overlooking.  Obviously I can't include all the photos I have, so I put in the kitchen, master bath and front as those tend to be the main things buyers key on.

[Bob Okenwa]

@Kris L.

I'm not trying to pick on you or be mean so don't this personally. Just constructive criticism from an investor and agent.

It's overpriced as hell and approaching stale status. You bought at the top of the market then took 6 months rehabbing 1400 sf. I know nothing whatsoever about this area and ran comps in a small area around the 19, Michigan Blvd, Pinehurst Rd, and San Christopher Dr. Comps from 1200sf-1700sf.

There are 4 active comps and the average DOM is 50 days. Even in this environment, if you're not going under contract in a month, you're overpriced or your home isn't good enough and it's overpriced.

There are 7 comps that sold in the last 3 months. Average sale price is 450k. Average bedrooms are 3. Average bathrooms are 2. Average square footage is 1436. Average price per square foot is $334.

This home should've been listed at 450k. Maybe 475k with a better rehab and better photos as the others have alluded to. Not sure who set the price at 529k, but that person didn't and doesn't know what they're doing. Even if you went under contract at 529k I'm not sure how it would appraise. Did you get an appraisal prior to listing?

https://www.redfin.com/FL/Dune...

The link above is a superior listing at 1120 Jackmar Rd. Better photos, it has a floorplan, better rehab, better finishes, and it was staged. Purchased to rehab on March 17th. Listed for sale on July 14th. Under contract on July 16th. Closed on August 5th. They did everything right. You have made many missteps.

The old-looking brown cabinets with dark hardware are not very appealing. Light and bright should have been your theme IMO. You're in a beachy city (I presume) next to the water. Lean into that. On top of that, there is no door trim around the front door and I can see outside light in the door jambs, older-looking granite, and photo #21 shows a bathroom that wasn't rehabbed. There are no door casings in your home and the laundry is outside. Nothing about this property is particularly special to ask as much as you had for it. 

Drop the price under 450k and you should see movement.