‘FIXER UPPER’ HOUSES ARE RESALE FLOPS!
CHIP and Joanna Gaines turned their “Fixer Upper” houses into rustic masterpieces — but now homeowners are struggling to turn a profit when they try to sell! A National ENQUIRER investigation in Waco, Texas, has found the couple’s golden touch begins to tarnish after they move on, and the houses the couple remodeled wind up slashed to almost half their original prices!
Some owners have had “for sale” signs on their front lawns for years, and others have given up and pulled their properties off the market. “A lot of people are expecting an affiliation with Chip and Joanna to pay,” said local realtor Matthew McLeod, owner of the McLeod Company. “They think they’ll make more money because of a remodel by them — and it doesn’t translate!”
The power pair — who have amassed an estimated $500 million empire from their TV show and Magnolia brand — are local heroes in Waco, where “Fixer Upper” was shot, but their shabby-chic makeovers sometimes end in shabby sales.
One of the show’s properties — a 4,000-square-foot, beach-themed home called The Faceless Bunker — got a face-lift, with panoramic views, multiple decks, an outside waterfall and more. It was listed for $1.265 million in 2018 but remains unsold
two years later, even after the asking price dropped a whopping eight times, down to $798,000!
“It’s an odd floor plan,” according to McLeod. “There’s a whole section of the home I could not stand up in. They did an area where there is a six-foot ceiling!”
He said one of his listings that was featured on “Fixer
Upper” — which ended its five-year run on HGTV in 2018 — was priced at $1 million in 2017 but sold two years later for only $640,000.
“This looks like a real disaster for Chip and Jo, and there are fears their whole
empire could collapse, since the houses they remodeled aren’t selling right now,” said an insider.
“They create these beautiful homes that come across as paradise, manicured mansions when they’re showcased on TV screens. But when people put them on the market for a million or more dollars … it’s not working out.
“It’s no surprise the show is over. I’m sure they’ve realized the bubble’s burst and it’s time to adjust their expectations plus get back to basics.”
McLeod claimed house hunters get the wrong impression from the show and are shocked at the hefty price tags on Gaines-designed homes when compared to other properties in the area.
“The show is entirely fictional, from the processes to the narrative to the budget,” said McLeod. “A lot of people call me based on an expectation from the TV show versus reality. Buyers think they can buy a home for $100,000 — and it doesn’t exist!”
He added that in addition to the chic, modern furnishings on the show, there are other areas to consider.
“What I would find is they would leave parts of the homes untouched, which you don’t see in the TV show,” McLeod said. “Some parts are done well — and there’s some stuff decaying!”
Chip and Joanna Gaines did not respond to requests for comment.