How long before we can sell (Cave Creek: foreclosure, appliances, house)

[shickey]

Hi -- We purchased a foreclosed home in Cave Creek (Dove Valley Ranch), in July of 2009. We love it. I'm not looking to sell yet, as we just finished fixing everything up!

I'm wondering what everyone thinks is a reasonable amount of time we would need to wait before selling and make some amount of profit so we could invest in a different home?

We purchased the house at about $100 per square feet, and since moving in, we've done a large number of improvements.

We have put in all new carpet, painted all interior walls, redid the back yard landscaping (travertine pavers, new shrubs, plants, etc), replaced all the missing fixtures, and all new stainless appliances.

Our cost for all of the repairs and work was approximately $20-25,000. The place is really looking great now.

Just looking for your general thoughts on the market, fixing up a foreclosure, and anything else you care to share.

Thanks.

[redjan1225]

Maybe you should talk to a realtor about it. We are still in a down market with people not wanting to pay much for a home. But I have read that the higher end market is still staying strong.

[Skywayy2001]

Not a hard question. Ask a realtor to do a BPO of similar priced homes (i.e. homes in good shape such as yours)...you should get your sq. ft price after that. That being said, you should generally put your home on the market in very early spring.