With this property being on the market for 138 days shows it’s over priced/needs updates. I’d look into putting about 15-20k into it and not adjust the sales price.
For Sale: Investment House in Ottumwa
- Thread starter khardbored
- Start date
The disc golf course at IHCC is legit. I grew up in the area and that disc golf course is an Iowa gem.
The realtor has repeatedly advised us to not do that.
Ottumwa isn't like the DSM area, or the Chicago suburbs. It has it's own feel, and demand for a $250,000 house is less than the demand for $214,000 house. The average salary in Ottumwa is suppressed.
If a retired couple that has the money, but wants to stay in Ottumwa decides to buy it, they are going to fix it up in whatever way they want. A "remodel incentive" will go further than me picking how to remodel.
At least that's the working theory.
If someone could buy it for $214,000, put in $10,000, and easily sell for $250,000 (a $26K profit) I would guess that would have already happened by now.
Yes, 138 days, but it was listed in Mid-November right before a terrible cold winter. (Not a good time to list, but circumstances unrelated to the house itself forced our hand.) If no legit action by June or so, I agree it will be time for a new strategy, or possible take off the market for a while.
That looks like prime landing area for errant tee shots on the hole it is located on.
Not sure if North Iowa is way different than south Iowa but up here realtors quite often have house sold in less than a week and many times within 24 hours of getting the listing. Paint is huge, if it has odd colors, I would paint. Many people also don’t want to remodel they want to move in, why I question your realtors strategy.
It would make home-made fajita night much more efficient
That house, that vintage, on a golf course, would be $ 1/2 million+ at ANY location in the Carolinas --IF you could find it.
~$5,000 taxes. YIKES. Taxes were high when we lived there.
~$5,000 taxes. YIKES. Taxes were high when we lived there.
Not sure why the house is being marketed as an investment (rental) house? I don't see this as the buyer.
That's just how I listed it here on CF to make the title less boring. It's not marketed that way on MLS.
blow's my mind why real estate agents post pictures with so many code violations. As a home inspector, good luck getting anywhere near that price unless a clueless bank or cash offer.