Spec Homes

There are spec homes in the area that are "for sale" but flooring can still be picked out. I suppose in this case, a home could be under contract for sale and the buyer picks flooring and has it installed prior to closing. Could be because a new home vs existing as mine is.

It might appeal to someone without the flooring, but would like you said eliminate a larger pool of prospective buyers.



ic

Comments(10)

  • icarus3327th May, 2006

    Woops,
    I must have hit "post topic" instead of "post reply" on another thread about listing a house for sale prior to completing the floor installation.

    Sorry for the weird post.

    ic

  • bgrossnickle11th May, 2006

    How big is the house, what is the ARV, what do houses in that area and price range have for flooring?

    I assume the bare floors are concrete?

    If the bare floors are wood or terrazo, then I usually clean them up a bit and give a flooring allowance. If there are bare concrete I go ahead and put in carpet.

    Brenda

  • jimandlacy11th May, 2006

    IMHO - When marketing for the highest retail $ you want to attract the largest audience which will pay more for a turnkey condition home to move into. If your retail market is sluggish, this may not hold true.

    In our market buyers expect hardwood and tile in all but the lowest price ranges.

    Jim

  • bgrossnickle11th May, 2006

    I can not imagine that anyone tears out brand new neutral carpet. I would go ahead and put the carpet in and get someone to tile the other areas. Why would you want to fly there just to tile?

    Brenda

  • ypochris25th May, 2006

    "There are spec homes in the area that are "for sale" but flooring can still be picked out. I suppose in this case, a home could be under contract for sale and the buyer picks flooring and has it installed prior to closing. Could be because a new home vs existing as mine is.
    It might appeal to someone without the flooring, but would like you said eliminate a larger pool of prospective buyers."

    -Icarius mistakenly posted this as a new topic.

  • mattfish1115th December, 2005

    I think 1 year...
    [addsig]

  • investornewbie26th May, 2006

    What is a 203K property. Googled it and it seems to be a program that HUD has for rehabing your primary residence. Has anyone used this before>

  • rbjj27th May, 2006

    InvestorNewbie ,

    I used it about 8 or 9 years ago. At that time investors could use it also, but since then after abuse of the program by a few investors, the program was discontuned for investors, and is only available for owner occupants.

    What would u like to know about the program.

    _________________
    "Problems Are Solutions Dressed In Work Clothes "[ Edited by rbjj on Date 05/27/2006 ]

  • investornewbie30th May, 2006

    I plan to live in my first rehab for a couple of years. If I already have obtained financing for the house but I have not obtained money to rehab the house can I get a 203K loan to do the repairs only.

  • rbjj30th May, 2006

    Investornewbie ,

    I am not really sure about using a 203k loan for just re-hab. I believe a 203k loan is for purchase and re-hab combined.
    [addsig]

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