February 07, 2017

Sold in Spencer, NC! Who Says a Fixer-Upper Won't Sell!

Not every buyer is looking for the move-in-ready, perfect home!

Some appreciate the challenge that what many of us call 'The Fixer Upper' offers! And like Jeffrey Rothfeder of This Old House magazine says, "For people who love old houses — and love to work on them — the notion of buying a fixer-upper can be irresistible. Just think: You can snag a rundown place in a good neighborhood for way below market price, invest some time and money renovating it, and end up with a like-new house that's worth at least twice what you paid for it." (Read his article here: Should You Buy That Fixer-Upper)

Greg Rapp, with Wallace Realty, had the 2-story circa 1900 Victorian home at 602 4th Street in Spencer, North Carolina listed for sale at just $29,900. And you would rightly ask, as many did, "Why so cheap??"

The large Victorian style farmhouse was in dire need of restoration, and was previously was a duplex, complete with two kitchens. Although the home offered lots of fireplaces with original mantels, all were nonfunctional. The home needed new HVAC...and in truth, just about everything else.

The good news: the home featured original woodwork throughout and most of the rooms were quite spacious. Located in the Spencer Historic District, and on the National Register of Historic Places, Greg offered this vintage home "Sold 'As-Is', with the underlying belief that this home near the North Carolina Transportation Museum could be a real stunner, once restored! And sometimes, if you believe in something strongly enough, it can happen!

Greg Rappclosed on the sale of 602 4th Street January 6, 2017. Did this take patience and persevering? Oh yes! The home was on the market 205 days...nearly a year...with offers that came, but fell through, until the right one came along!

Don't believe this can happen? One of the true success stories is the Fulton-Blackmer House in Salisbury NC. This once spectacular circa 1820 mansion was not only abandoned but severely damaged by fire, then left to demolish by neglect. Many in the surrounding neighborhood desired demolition to rid the area of the eyesore. Historic Salisbury Foundation stepped in and stabilized the home, and soon afterward, buyers purchased their 'forever home'. The beauty of this restored home (and subsequent current value) far surpasses anything one could have imagined, had you seen the home in its desperate condition.

The Victorian home at 602 4th Street is in the Spencer Historic District. Located adjacent to the NC Transportation Museum, this is the largest contiguous historic district in North Carolina. It contains 322 residential and commercial buildings primarily constructed between 1905 and 1920 to provide support and housing for the workers of Southern Railway’s former steam locomotive repair facility. And in the heart of the Spencer Historic District was the restoration enthusiast's dream come true: A lovely two-story Victorian ... at under $40,000!!! There are more opportunities to find homes like this...at attractive prices, built with the character and quality of a bygone era.

Interested? Call Greg Rapp with Wallace Realty: (704) 213-6846. Make your restoration dream come true!

Greg Rapp 
Wallace Realty Co. 
704 213 6846 Mobile 
704 636 2021 Office 

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