I am happy to say that my rehab project, which was my life for 5 months worth of weekends and evenings, is now under contract. I should mention that this is after only 5 days on the market. And this offer came in on Sunday so it was really about 3 days. I also had a verbal offer (too low) and another buyer who was going to write one today. I couldn’t be happier with the response
Obviously nothing is certain until we close, but things look very good. We put a lot of effort into the place and its nice to know that it shows. I’m sure the quality of our rehab has something to do with the rabid demand, but I think that’s only part of it.
I have been saying it for months, but I really think that this is just further proof that houses in the $100,000 to $150,000 price range are still hot. With all the single family foreclosures around, there isn’t a shortage of rehab targets out there either. Struggling economy or not, people have to live somewhere. Keep that in mind when lining up your next purchase.