Yahoo!!!!!!! Our First Open House Was A Success!!!!!!!!!!!!!!!
I feel like lots of exclamation points are justified for this post!!!!!
Just got off the phone with my Realtor who was whupped by all the people who showed up to the first open house!!! He was literally flabbergasted by the amount of people who came by. The open was supposed to run from 2-4 but he ended up staying until almost 5pm because there was so much interest!
Man, that makes up feel encouraged!!! Course, we are no where near selling the place but at least there was a good turn out.
We were freaking cause the weather was set to be horrible and well, there was really no advertising done for the open except what we wrote here on the blog and one Craig's List ad, something that will hopefully be addressed by the next open.
The Run Down
We were told that there was at least 35 different groups of people with one group of ten!!!
Several people came through with either their architect or contractor!
One group stayed for 1.5 hrs going over everything!
Several couples stayed for almost an hour looking over everything.
Realtor feels that there where at least 3-4 groups of people who where 'seriously' interested in the place. He actually felt that the ratio of looky-loos to serious people was pretty low.
Not too surprisingly the question most asked was 'what the heck is a 203k loan anyways and how does it work?'. It seems like we are having trouble getting across some of the basic facts of the 203k......most importantly, you as the new homeowner don't do any of the work!!! You roll the cost of the fix-up into the purchase price of the house. Luckily we had the local 203k mortgage expert there to answer questions.
Probably the second most asked question was, what's it going to cost to fix the place up?
Luckily for us one of the contractors that we are paying to write up a bid to finish the house got their bid done in time for the first open....the magic number???? $138k That's to completely finish all three floors (with new roof) in a VERY basic way that will get the house approved by the FHA. Of course you can go a lot fancier all the way up to the $770k FHA loan limit if you wanted to!
Third Most Asked Question, 'What the heck is going on in the basement with all those tubes???'
Luckily for us we had the bright idea to actually have the heat on during the open so all our Realtor had to do was say, 'Its radiant heating, feel the floor' and lots of people did.
I don't think anyone offered to buy the fish with the house though....bummer.
Yes, we know the house is no where near being sold and we are certainly not counting any chickens before they are hatched. We are just encouraged that, that many serious people showed up for the first not-really-advertised open.