Flip stuck in market?

[Allende Hernandez]

Hello folks, I need your valuable expertise in this one.

My first flip hit the market last Nov and it's kind of stock. I need advice on strategies to move it quicker, if possible. Below are some details.

• Area: Kissimmee, Orlando (Florida)
• Sales Price: $254K (Dropped it last Monday from $259K, not too inclined to keep dropping. I still have a margin but it may shrink too much for the amount of time/work/Money I invested on it)
• Fix and Flip with almost everything upgraded, it came out real nice
• Average DOM in the area is 97, mine has been 76 (I know it is still under average but I need to move it quicker to get on the next deal)
• One of the largest properties in the area. There are only 2 other properties listed close to its SqFT
• 2nd lowest price per SqFt among the active listings. Lowest among the 3 largest houses, therefore the most expensive ones
• It is listed in the MLS, realtors have done multiple Open Houses. I have also advertised it a lot in FB and CL
• There have been some visits, it is sort of picking up now and people seem to like it but no offer so far.

Any other piece of info you need to come to a conclusion please ask.

This is my first flip so I already have a few things I know I have to do different next time, like staying away from houses out of the sweet spot. Though I'll certainly appreciate any comments on what I could have done different, I'd also like some on how to solve it now.

Thank you in advance!

[Natalie Schanne]

@Allende Hernandez - So, as everyone has said. Price drives traffic to see your place. If it's priced at market, none of the items I mention below matter. 

Personal comments from looking at your marketing / listing:

- Real or virtual staging of 1 bedroom, 1 bathroom, dining room, and living room would be nice.

- I don't care for your agent's choice of cover photo on your MLS listing (Realtor.com) - it's like 50% driveway. The straight on shot from google maps looks more attractive to me. Can you get a cheap drone shot from like 20 feet off the ground?

- Some of the room pictures look exactly the same. I'm not sure if it would be helpful to have a small label like Bedroom 1, Bedroom 2. The pictures show a lot of ceiling, so I don't have a great sense of how big the room is. They might as well all be 10x10's.

- Your agent's marketing materials need to emphasize "Freshly/Professionally renovated - move in ready." Anyone can see you bought it for $174k a few months ago. Your agent's 2007 comment makes it seem like everything is 10 years old but like new. What's brand new since you bought it?

- Your agent's marketing copy in MLS doesn't exhibit proper grammar & syntax. The errors are minor but abundant.

"HUGE PRICE REDUCTION! LOWEST PRICE PER SQUARE FEET IN THE AREA! PAY LESS FOR MUCH, MUCH MORE, READY TO MOVE IN! HURRY, IT WON'T LAST AT THIS PRICE! FULLY REMODELED HOME IN AN AMAZING COMMUNITY! VERY LOW HOA! LIKE NEW, BUILT IN 2007 WITH OVER 2900 SQ. FT. (among the largest in the neighborhood) ALSO ELIGIBLE FOR FHA FINANCING! SELLERS OFFER ONE YEAR HOME WARRANTY AND VERY MOTIVATED TO SELL!! 4 Bedrooms 2.5 Bathrooms home with a tandem 3 car garage. Kitchen features, granite countertops, new stainless steel appliances, 42 inch cabinets with crown molding. A huge master suite on the first floor with his & hers walk in closet a huge walk-in shower and garden tub. Excellent floor plan for entertaining with separate dining room and great rooms plus large eat-in space near the kitchen. A great home in fantastic neighborhood... and don't forget new Valencia Community College Campus is coming soon."

Good luck. Let us know how it turns out.