Another Sale in Under 30 Days16 Aug
When battling new emerging trends combined with a lack of comp support, it is imperative for a home to be in pristine condition.
Mick and Beth were past Sibbach Team clients so there was already a level of trust between agent and sellers. The couple owned one level home with vaulted ceilings, stainless steel appliances, and a KILLER backyard situated on almost an acre lot located in a great school district.
Upon entering the home, Jeff noticed that the interior finishes were dated but not completely out of trend. It’s important to note, that at that time, the transitional trend was emerging quickly. In order to get top dollar, tactical tweaks were needed to get the home in tip-top condition. This was easier said than done because Mick and Beth both had busy careers and their home had been overrun by their kids and dogs.
In original condition, the home was valued between $770-780K. Jeff recommend removing the faux paint, updating the master bath, repairing the damaged wood flooring and tending to all of the other “honey do-list” items.
We were also working against a large gap in neighborhood comps because there had not been a sale in the last 6 months. The average buyers agent is presented a challenge when there is a lack of comp support such as was in this case. A home needs to be move-in ready with an instant “POP” upon entry. Fortunately, there were larger homes in the neighborhood which helped the appraiser with higher evaluations.
After the recommended upgrades and repairs were completed, Jeff suggested listing at $825k but the owner wanted to list at $875k. We found a buyer within 98.7% of Jeff’s suggested list price, within 30 days. It’s important to remember that when trends inside your home are declining a buyer will not pay top dollar.