My Flip

Chris Johnson

Hey, finally got around to finishing my flip.

Check it out

www.399treehavenlane.com

Give me some feedback

Albeit the photo's are few it gives you the basic idea. Personally I think it needs more pic's. but then again I build, don't sell, that's what RE agents are for.

For some reason, I need to find out why, there is no pictures of the detached 4 car garage, so far ever guy living in the area wants me to build one for them , at 50k each it could be a lucrative business, 24x42, foundation, 4 walls, roof, 2-16' doors, man door, 2 windows, 1 fire wall, insulated, drywalled, full electrical, phone and cable.

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Chris

Mike Finley

Damn, 1.3 mill ?

I thought those days of outrageous prices for tiny places were over in California. Guess Napa is holding up pretty well?

You did a beautiful job, looks like a quality remodel.

RizzoMaryland

Looks like you doubled the price of everything in the neighborhood. Hope you can sell it.

Remodel looks good!

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"An idea is salvation by imagination"
Frank LLoyd Wright

Cache

Looks like you did a good job. That is a $250-300K house here, so it is strange for me to see the high price tag. But good work anyway.

ClosetPro

Nice Chris!! Great choice of colors, nice layout....now what about those closets?

Chris Johnson

This project was the first complete remodel in the neighborhood in over 4 years. It also sits in a particular corner where there are fewer than a dozen of us on 1+ acre lots, most of te rest are 1/2 - 3/4 acre parcels.

The same house only reverse model 4 doors away around the corner went up a couple weeks @ $ 928k, when we listed ours they immediately dropped to $ 800k, which is still $ 45k more than what we paid last summer.

Complete remodels in this area are valued at $ 300.00 per sq.ft. Under all the new laws finding a country 1 acre lot is near next to impossible with subdividing being so regulated, nowadays a 1/4 acre is considered large.

A comparison was the house immediately next door, it was completely remodeled 4 years ago, all in designer beige, flooring, paint, cabinets, countertops, appliances, everything beige. Sold for 1.34 so I am okay with our list price.

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Chris

jarvis design

Nice job Chris!!

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Bathrooms Built for Life.
www.JarvisDesignBuild.com
519-495-4062

Pearce Services

Nice looking place, Any pictures of the garage yet?

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Kevin

www.SouthShoreRemodeling.com

bob_cntrctr

So the obvious question for this crowd is - what exactly did you do to the place? What's a "complete remodel"?

RizzoMaryland

I hope it works out for you. I really do. It just appears to be out pricing everything around by several hundred thousands without any standout features.

There are homes within view of your flip that are valued at less than a 1/3 of your asking price.

Like I said before, however, the house/work look good.

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"An idea is salvation by imagination"
Frank LLoyd Wright

XanadooLTD

holy cow those days are over. Watch the news!! Lenders aren;t loaning money. Only people getting loans are first time home buyers. I don't know many first timers buying 1.3million dollar homes. We stopped flipping two years ago when market turned.

rbsremodeling

Peep this 980 sf

http://www.redfin.com/DC/Washington/...A/home/9927124

Click street view when you get to the page

Those days are not gone everywhere some select zips never die. I hope you make a mint on it Chris

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WisePainter

100% nope.

The work is great but it looks like a Home Depot threw up in that house...but some people really love that sterile, repetitive, homogenized box store look.


We're still friends right?

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My advice: Hire a real painter to do it.

Chris Johnson

Okay, start at the top

Complete remodel is gutted to the exterior walls, all mechanicals, everything. raised 1/3 of the roof (L/R, D/R) converted garage to new Master and Master Bath, laid out all new floor plan, 2 other bedrooms have there own full bathroom. All new mechanicals, Furnace in attic, new service from main panel in to sub panels and brought to code, new gas lines throughout, new water and waste lines throughout. Outside completely redone, new T-111 and new Marvin windows and doors.

Home depot did not puke in the house, the general population can tell if product in a flip is Home Depot quality, this is not, all bath fixtures are upgraded from the typical run of the mill. Tile is all natural stone from various suppliers, I was looking for deals I will admit, but quality items at the same time.

The neighborhood varies by price and unless you are familiar with it, yes some houses are 1/3 less, smaller lots and 30+ years old and never remodeled beyond a coat of paint or so. Kenwood is a small upscale community about 15 minutes east of Santa Rosa (Gus Deering area, which he can tell you about the area).

Flips still work if you know your market. I have been watching it closely and in my area if you think you can buy a starter home and improve then flip guaranteed you will lose, exceed 1M and these purchasers are not looking for financing, they have cash and that is why they have survived.

The original floor plan is for sale around the corner for $ 800k, without subs (doing everything yourself) you will spend over 300k with permits, architect, engineer, etc. Now, what's your time worth?

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Chris

Mike Finley

That's right. There are actually pockets of appreciation believe it or not.

greg24k

I can't believe the numbers they get in some parts of CA, I was visiting my uncle in LA, his house is the size of my garage and 1/4 ac lot and its worth almost 2m, but taxes are 3k and I have 3/4 acre 4,200 SF home and I pay 17k in taxes.

Good luck Chris, take it all while you can

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bob_cntrctr

Ya, that sounds about as "complete" as you can get. Typically what I do to mine - although I generally keep mine end rent them out, different market segment.

Although generally there is one strategic thing I do differently - you've taken an average place and turned it into the nicest in the area, whereas I usually look for the worst on the block and bring it up to par with the neighbourhood so there's no danger of the street holding my value down.

So what kind of turn-around time for the renos from purchase closing to done?

catspaw

chris,
very nice. i remember the good ole days drinking wine at chateau st. jean(chardonea)and kenwood(petite sarah) wineries and then going up the road(adobe canyon ?)to my buddies place to hibernate. there was a state park at the end of his road?this was in the late sixties early seventies.still have the bed races? i married a napa native myself. the real estate there is very expensive for those that are used to what is reasonable. looks like a bargain to me