What a difference $10K can make!

By
Real Estate Agent with The Mode Real Estate Group DRE # 00935148

Quick story about a listing I recently took in Sacramento, CA.  It was a rental property of a past client and when the tenant moved out it still needed cleaning, painting, new carpets, etc.  Tenants had totally scratched the beautiful hardwood floors, the cabinets were really worn, etc.  Typical condition for a tenant occupied property that the tenant lives in for a number of years.  I suggested to the seller that we spend some time and money to improve the property and then put it on the market.  

 

Of course, the seller, thinking the market is super HOT right now, figured he didn't need to spend the time or money to do this.  The property would sell anyway!  I didn't agree but it was his choice, so on the market we went...at $399,000.  We had one offer only in 7 days...$325,000 cash.  Seller didn't take it and decided maybe he should do what I suggested.

 

Here are a couple of before photos - 

 

10031 Terrier Way10031 Terrier Way before

 

So 2 weeks later and less than $10,000 out of the sellers pocket to paint, redo hardwood flooring, new carpet, new bathroom sink, new range, here is how it looks...

 

 10031 Terrier Way after

 

We put it back on the market last Thursday at $400,000...over 100 showings, 18 offers and we are now officially pending $40,000 over the list price!!!  BOOM!!!  

 

So lesson here besides listen to your agent!  Of course!  

In a hot market, to make the most money sometimes it is best to spend some money.  So he spent less than $10,000 to put over $40,000 in his pocket!  $30,000 gain and maybe more because in 7 days we had not yet received a legimate offer!  He is now one very happy seller!

 

If you are thinking of selling your home, don't be afraid of what you may have to do to get it ready for sale.  I am here to help you make educated decisions on what is best.  Call me!

Comments (2)

Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Lori. Sometimes the agent with experience actually knows something about bang for the buck. Congrats! Enjoy your day 

May 04, 2021 04:24 AM
Lori Mode

Yes Wayne!  I have to agree!

May 04, 2021 07:15 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

Excellent result. I'm sure he is very happy he listened!

May 04, 2021 05:20 AM