First flip done now need to sell in Chattanooga

[Zak Clift]

My wife and I have completed our first flip about month ago and have it on the market right at 4 weeks. We have had some interest and some showings. I'm looking for any advice to get it sold. It's on Zillow, Trulia, MLS and I have been posting to Craigslist as well.Any comments appreciated. Thanks! Zak

[John M.]

My impression is that it is priced high for the neighborhood. You might eventually get a buyer at your price, but you need to weigh that against the potential carrying costs. People will look at Zillow and see that it is priced higher than any comparable property on the street and that you paid 95 for it. I would think that even if you spent 100k on the rehab, you're still making a killing...

There don't appear to be a lot of recent sales in the area and it is one of those places where you've got $130k houses mixed in with $1M+ houses. A good local agent would be your best asset in determining a price. This is a case where you're probably better off giving up 3-4% commission to have an agent helping you. 

Also, keep in mind that the buyer pool for homes like this is much smaller than it is for your typical starter home in a suburban neighborhood.