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Updated almost 8 years ago, 02/15/2017
Flip stuck in market?
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!