It would be so cool if @coralbrook and her crew could go around the country doing remodeling projects for CCers and have a win/win! Heavens knows many of us have tons of things that could be improved in our homes. She has such great skills and is able to perform magic at such great prices!
WOW,
if its already gutted that saves CB time and $$
Yes! I have a guest room you can stay in and a master bath the need a major overhaul. Heck, if you could come to Austin just for a weekend to do the design and I can find people here to do the work!
I have an entire empty house that is very livable (after getting the freeloaders out) but needs some TLC. 
We have a house in Honolulu what could use two remodeled bathrooms. We have 3 bedrooms, only one of which is in use.
We definitely could use CB’s magic and have 3 empty bedrooms
You are all so sweet …I am flattered that you would all trust me to stay in your homes and knock down your walls:)
I’ve got 2 or 3 properties I’m going to view tomorrow and I’ll report back.
Fingers crossed, CB, fingers crossed!
Several extra bedrooms here…AND an extra car!
CB - excited to hear about the properties you see today!
I have, maybe, a spare drawer and good local bus service! (lol)
I have several good friends patiently waiting with their “honey do” lists for my team to free up. But after that I won’t have any work for them. So I need to find something soon or I could lose them to other jobs. I think my carpenter wouldn’t mind time off but my full time laborer will have to find some work.
I could start remodeling my house but that doesn’t quite make any financial sense:)
Flip # 7
Here’s a recap of the crumbs out on the market that I visited today.
Gutted House on Coronado. Ironically, I have driven by this house for years and wondered when they were finally going to sell it. When I got there today I recognized it immediately. This house was gutted about 6 to 8 years ago and has been open to the elements that whole time. Roof torn off, stucco torn off, everything gutted inside. Just some studs and top plates standing. They’ve had it wrapped in plastic for a couple of years but it’s worthless because it’s ripped up and shredded.
A realtor finally bought it from the prior owner who never finished their project. Plans are underway at city for a 3300 sq ft house with huge views. It’s up on the same hillside as my last project.
After much discussion with my carpenter I have to pass. We both believe the City will require all the wood to be removed due to the structure being compromised. This could negate the approved plans and push us into “new” construction which requires a year-long coastal commission approval. As soon as the first inspector shows up they are going require plan changes. The staff in the office bldg have no idea the structure is crumbling. So, basically , it’s a vacant lot with utilities and an old foundation for $915,000
Another issue is construction is so hot right now that I won’t be able to pull together a big team. I would need to build a new 3300 sq ft home from scratch. With 2 guys. At this point…not a smart move
Next up is the house on Del Mar where a competitor is selling for a chunk of profit “with plans”. I have no idea why they are tearing this house down. It’s a fabulous lot with view potential. The existing house has good bones and some cool mid century type architecture. But everything is going up around it blocking views so the only thing that can be done is go up with a 2nd story.
After a complete remodel , building a second story and a garage on alley, I think it will sell for about $1,500,000. Paying $1,250,000 makes no sense. I’m going to watch and see if it lingers on the market.
And finally, there is a 1375 sq ft single level house on Coronado that is occupied by a tenant who runs a full day care in the house. Same street and size as the small house that had the holdover family stuck in the house. Cannot go inside until the weekend but the photos look like updated kitchen if you can see past all the kid stuff.
The issue with this one is same size and shape just went for sale at $750k (but probably had a bidding war up to about $770k) and it’s hard to find $900k value for this one. No view potential. Would probably have to add a new master suite to add value. Problem would be that owners probably think their house is so much better than the $750k house because they remodeled the kitchen 15 yrs ago.
It’s in that difficult niche in the market. Livable but dated/ bad taste. Buyers want new, remodeled turn key OR they want distressed at a much lower price. Nothing in between unless it is priced low.
Oh wow, CB. That is such incredibly low inventory. Even in our neck of the woods one can find some starting material… Good thing you passed up that new construction, it just does not sound durable.
There is a severe shortage of construction labor, apparently. My pooper crew can’t finish on time because their drywall folks are flaky… get distracted by side jobs all the time. So we were smart to hire big dogs for the window replacement and the siding job. We are probably paying more for that speedy luxury, but I want the guys with their own honey bucket! 
Oh… The countertops are 8 weeks out. That is the earliest they can be available.
Its a common problem in today’s market. You can sell with a decent profit, but you cannot buy with a potential. In a hot area, you have multiple offers and it is not worth the effort to renovate and try to make a profit.
Just out of curiosity??? How could it possibly take 8 weeks to get countertops? Is it because the installers are 8 weeks booked up? They usually get a lot of postponements because kitchens aren’t ready yet. If you are ready, let them know you can take them anytime they have a cancellation
I do believe it is a peak in the market right now. So I have to be really careful. But I always find something, just have to kiss a lot of frogs to find the prince.
It all depends on the area, some areas are hot some are not. Friend in NJ trying to move into the Bay Area and got absolutely stunned. There was not an increase on their property in NJ for the last 10-15 years, but CA market is crazy. SFR in The THREE west bay COUNTIES starts from 600K with 2 bed 1 bath houses. Condos are following not too far behind. Her house in NJ would worth more than $2m anywhere they want to live.
Not sure if this is the peak, just sold a house in a not desirable, crime ridden area for the SAME PRICE sold in 2005. Well, I bought it in the crash era for fraction of what was sold in 2005.