18031 Foxtail Drive, Lake Wildwood, 3/2 contract has dolled it up nicely, listed for $310,000

Here’s my question: How is the contractor going to make money on this home? I saw this home last year, it sold in March of 2017 for $270,000. It was dated, but clean, and I thought at the time it was fair priced. A contractor bought it, put in a new kitchen, new flooring, painted it, put in new bathroom vanities and fixtures, and now has it back on the market for $310,000. Not much margin in that fix and flip! If this contractor makes money on this home I want him to come work for me! This is a very nice home, and I think it is priced just about right for the market. If you have been watching the Market Report all spring you know a 3/2 in Wildwood on flat lot in this condition would sell for $325,000. The discount for the driveway should be just about right, and I expect this one will sell. Again, I am always watching how the details of the home’s topographic lay out and the way small differences in the floor plan impact consumer sentiment in terms of the time it takes to sell a home and the price sellers get for their offering. We have seen lots of 3 bedroom and 2 bathroom homes in very good condition. What makes them each a little unique is the driveway, parking, and yard. With a steep driveway the discount to the premium is exactly equal to the value consumers place on a flat lot. I will be watching this one and comparing it to the sales price of homes in similar condition that have flat driveways.

Author: gordon

Nevada County Resident since 1988. Painting and Decorating Contractor 1985-2003 Nevada County Realtor Since 2004 Member of the Nevada County Masters Club (top producing agent) Every Year Since 2004