Why a Lincoln woman is turning to Facebook to sell a $100K fixer-upper home

A Lincoln woman has placed her 100-year-old house for sale on Facebook Marketplace for $100,000.

The house has four bedrooms, two bathrooms, sits on about a half-acre and has a barn behind it. The home on Main Street in Lincoln was likely built in 1905, according to owner Rebekah Peterson.

While it has fallen into disrepair and needs significant renovation, Peterson said the building is structurally sound with a solid foundation. The wood floors, staircase and trim are all original, the electrical system is intact and the pipes are winterized.

“You cannot buy the lumber this house is made of anymore,” Peterson said. “It’d probably cost $1 million to build this house today.”

However, the original slate roof leaks and needs to be replaced, there’s water damage to one wall, the exterior needs to be scraped and repainted, and several windows are broken, among other cosmetic damage.

Peterson received at least 50 inquiries about the Victorian-style home in the two days after she posted the ad for it on July 10 — but as of Friday afternoon, she hadn’t received a single offer.

Despite the building’s many deficiencies, Peterson hopes that turning to the far reach of Facebook brings more attention to the home, drives offers and helps the home find the right person who’s willing to put in the work that the home needs.

Peterson bought the house in an auction with her ex-husband in 2016 and lived there with her three children until 2022. She kept the house when the couple divorced, and Peterson said she doesn’t have the time or means to restore the home.

Though she has never sold a house before, Peterson said she placed the ad on Facebook Marketplace in the hopes that someone who appreciates old homes would find it and see the home’s potential. Peterson also wants control over who the house gets sold to.

“I want to see something wonderful happen to this house,” Peterson said. “It deserves to be cherished, loved and brought back to life, and I want it to go to someone who will do that. I wasn’t able to do that, but this is my chance to honor this monument of a home.”

Initially, Peterson didn’t list an asking price and instead wrote “make an offer.” She set the asking price after one person offered $8,000 and nearly all of the other messages were asking her to set a price.

Peterson set the asking price at $100,000 because she feels that’s a fair price for the home, but she recognizes that’s more than what someone in Lincoln can likely afford, especially in addition to the steep costs of the caliber of work the house desperately needs.

“The right person will see what I see and agree that it’s absolutely worth $100,000,” Peterson said.

Since setting the asking price, Peterson said she hasn’t received a formal offer on the home.

In 2022, the average annual household income in Lincoln was slightly more than $41,000 and 26 percent of homes were valued between $100,000 to $149,999, according to the U.S. Census Bureau.

Peterson believes that if the home was anywhere other than in northern Maine, it would easily sell in its current condition for $100,000 or more.

With the money she earns from selling the home, Peterson said she hopes to purchase the house she now rents.