quote:

the fact that no one is taking on the project, especially at the original $280K purchase price, tells me there has to be something super wrong going on.

Or maybe materials are extensive and good contractors are hard to come by, so they decided to pass it on to someone else???

/overly-optimistic take

I wish I had saved a couple of the photos of the Orchard ranch from last year's listing. The amount of mold on the interior was horrific. Maybe a DIYer thought they could take it on, but I don't think it's likely.

Here's an example of what's going on in my area of 50 to 60 year old homes....

I know the people whose parents lived in this house. They just sold it and it was bought by a flipper:

https://www.realtor.com/reales...L_60004_M77132-14933

The house is at a pretty busy intersection, it has a one car garage, original windows, the landscaping needs a ton of work, and as you can see from the listing the place is really dated and tired looking.

There's a dumpster out on the driveway and the flippers are working great guns to get it done and back on the market. I'll be surprised if it breaks $600K when it sells.

I'll keep an eye on it and post the listing when it goes up for sale. We'll see how well I know my local market....

There is a house down the hill from me. Built in 1947, 3 or 4 bedrooms (depending on what you count as a bedroom), 1 bathroom. A couple bought the house in about 1960, raised a family of five or six (with ONE bathroom) through the 60s, 70s and 80s, and the parents just moved to a retirement apartment. It's a small house, on about an 8000 square foot lot.

It sold in January for $1.15 million to a couple that already own a nice house in one of the upscale areas in a different municipality. In March, they ripped out a bunch of stuff, the toilet, appliances, various bits and parts. They replaced all of the windows. I don't know if they are planning to flip it, rent it out, or actually move there. But a week or two into their project, they had a backhoe in there and were digging up the front yard, and it looked like they were putting in a new driveway or something. Then the STOP WORK order showed up.

Apparently, they filed for a bunch of permits and started working before the permits were issued. The STOP WORK order says that the permit fees will double, several new requirements will be added (including hiring a professional street cleaner to come by while the work is progressing), measures must be taken to prevent erosion until the work resumes, but other than that, they are not to move another spoonful of dirt until the permits are issued and an on-site meeting with the permitting office occurs.

That was in March. The STOP WORK order is still on a stick in the front yard.

I'm guessing the city moved their permit requests to the bottom of the stack and will get around to them when they get around to them.

WTG, that house looks like a smart buy for a flipper, no obvious problems, lots to work with.

Somehow I ended up Facebook friends with a couple that flips houses around here (I think we went to an open house of one of their flips while we were househunting). Anyway, they often post before and after photos and it's amazing!! At the same time, they work really, really hard. So that kind of job is not for the faint of heart, or faint of body!

PJ, yikes!!

quote:

Originally posted by ShiroKuro: At the same time, they work really, really hard. So that kind of job is not for the faint of heart, or faint of body!

A big pile of money doesn't hurt either.

I was not far from the mold house today and decided to drive past it .

Exterior looks even worse in person.