All Forum Posts by: Jessica Pham

We had a very difficult time getting to our ARV and even finding comps has been challenging. When setting our initial ARV we went with 20% below comps in the area to factor in the busy street. We are now asking for 25k less than even our initial listing price. I’m sure there are a lot of factors at play so I’m just tying to figure it out, and move on.

Originally posted by @Aaron F.:

This is something I've wondered about for a long time: how do you comp homes in nice areas but on a busy road to accurately estimate ARV?

If I were looking to purchase a home and my price range was >$500,000 I’d have a decent number of nice options in quiet neighborhoods. So I imagine that it’s hard to have true “comparable listings” from the perspective of the buyer. Everyone knows to discount the house for being on a busy road but it seems like total guessing as to how much until this happens when you keep dropping the price until it sells.

I know that area pretty well because I used to go to the YMCA there. It’s a really nice neighborhood so hopefully you sell it soon. It looks like somebody will be getting a beautiful home.

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We are at $253 a sqft which is in the median price range for the area but on the low end for homes that have been renovated.

Originally posted by @Lucia Rushton:

@Jessica Pham. Looks like you did a good job on the rehab and staging. In this market it comes down to price. What comps has your agent given you ?

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Hi!

I am a new At investing in Real Estate. I am currently on my 2nd flip. The 1st one went beautifully but I am having trouble selling the 2nd one.

I have a hard money loan on it, and I am just about at the point where I can potentially break even if I sell it ASAP but don’t know other options.

The house has been on the Market for going on 80 days. It is priced under what houses are currently selling for due to it being on a corner of a busy street. I have dropped the price a few times know but I still have not generated any interest. The house has had 3 showings total. Open houses have not been successful. All positive reviews from showings as well as people who just came by to see it.

The address is 4155 Northaven Rd in Dallas Tx if you want to see it on Zillow.

I would greatly appreciate any ideas!

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All Forum Posts by: Jessica Pham

Jessica Pham has started 1 posts and replied 3 times.

Post: Help! My House Flip won’t sell

Post: Help! My House Flip won’t sell

Post: Help! My House Flip won’t sell