Average Turnaround Time On A Rehab
How long does it take--on average--to sell a property after it has been rehabbed.
What is the usual turnaround time?
Troy T (Vacaville CA)
How long does it take--on average--to sell a property after it has been rehabbed.
What is the usual turnaround time?
Troy T (Vacaville CA)
That really depends on a number of factors. Your best bet is to contact a local realtor or someone with MLS access. They can tell you what average Days on Market (DOM) is for your neighborhood.
Now if your question is how do I sell quickly, these factors are important:
1. List Price
2. Owner financing
3. Size of house (sq. ft & bed/bath)relative to neighborhood.
4. Condition and quality of rehab house relative to neighborhood.
30 day max to rehab.
As stated, the rehab has less to do with the selling time, as to your method of selling it. It is going to depend mostly on your market - how is your market? Buyer or seller market? What is the average price of a single family home selling for? If Average is $150,000 and your house is $500,000 expect to take a lot longer.
Just consider you house like any other product, a donut, a tire, a computer, what is the demand at your price point, what features do you have compared to your competition that are an advantage or a disadvantage, how are they going to effect your selling of it? Single family homes, condos and town houses all have different demand and days on market.
A 2/2 condo with a garage might sell in 60 days.
A 4/1 condo may take a year because of how undesireable having one bathroom with four bedrooms is.
How are you going to market it? FSBO, MLS? Each has different days on market.
A realtor can give you a good average if you tell them what kind of property it is.[ Edited by The-Rehabinator on Date 01/09/2004 ]