Monday, April 10, 2006


We finally set a deadline and had an open house on Saturday. On the Wednesday before I took all the kids up there to clean the stuff out of the basement and then we loaded some of it out on the truck. I had Emma and Josh deliver the 1/2 page invites to Three Fountain residents. Unfortunately a freakish 6 inches of snow had fallen on the bench and Emma, bless her heart, ended up calf-deep in slush. What was even stranger is the 70 degree weather we had for the open house just 2 days later!

The response to the condition of the home was great. I had several people comment on the brown/leather wall and ask how I did it. Only about 3 people directly said they knew someone who might be interested but my stragedy was to get people in that neighbhorhood to hunt for their own neighbor.

No one was too thrilled with the price I set at $158,000 but almost everyone said I wouldn't have a problem selling it. The unit next door is only $148,500 and hasn't sold yet so I don't think price is the sticking point. I guess the market will make or break me.

We only have a $10,000 margin at $158,000 so if I have to start paying realtors or reducing the price I won't have made any money. It is a delicate balance.

There are three things that effect the sale of real estate. Location, Condition & Price. From the response condition won't be a problem. Location is good; the east bench of Provo and near the Riverwoods shopping center but it's still quiet. The last is price and that may be what kills me. So many people have undersold their units that they really aren't up to market. In Orem the same size home is about 185,000.

Next post will be the pictures I took. I haven't taken daytime pictures yet but these will give you a good idea of the finished product.

Lessons Learned:

Advertise heavily in the neighborhood when trying to sell a home. People who live there usually love a neighborhood and can convince a friend or family member better than you ever can.

Price is everything. Even a home in a horrible neighborhood can sell if it is priced low. If you want top dollar, though, your condition has to be above average "model" style.

Older people would rather have a bifold than a curtain. I love the curtain I installed on the pantry but I had 6 people ask where the door was. Grrr.

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