We closed the escrow on Clemens yesterday!
Before we even hit the market, we spent just over two months on improvements and repairs, focusing on high-impact upgrades like new flooring, paint, and lighting throughout, as well as a fabulous kitchen. Our clients spent over $150,000 to transform and elevate their home’s value and appeal. The open-concept layout and stylish finishes made it a showstopper.
To read about the story and experience the full transformation, see here for an in-depth flipbook with over 20 pages of before and after photos, costs breakdown, and more!
Before vs. After
The last neighborhood sale was a model-match that closed for $2,060,000 the week before we launched, and because I wanted to be within $500,000 of the last sale, we decided to lower our original list price from $2,600,000 to $2,499,000 for Day One.
After the open-house extravaganza, we received SIX offers!
Having six offers meant that the airplanes flying over the house must not have been a bother.
Could the bidding get up to $3,000,000? I thought it could if I was able to demonstrate what I thought the true value was.
I sent all of this to each agent:
Attached is the sellers’ request for your highest-and-best offer.
Some explanation is due.
We deliberately priced this home lower than the perceived market value to attract the maximum interest immediately.
1. We had originally signed the listing at $2,600,000 in December.
2. The zestimate on the day of MLS input was $2,719,300 (Zillow adjusts their zestimates to within a couple of bucks of the list price once a home is entered onto the MLS).
3. The homes at the end of Twain being built by Shea Homes will be in the $3,000,000 to $3,500,000 range, according to a neighbor. (I did not know that until yesterday).
Other premium homes:
I saw this one and while it was new it was jammed into the hillside with no view:
https://www.zillow.com/
This had a good ocean view looking south, and a premium location though a smaller lot:
https://www.zillow.com/
This is an old restaurant and good for nothing – just land value here:
https://www.zillow.com/
New but not much view – and close to freeway:
https://www.zillow.com/
https://www.zillow.com/
End result? I think I’m way under-priced! Nobody has the big ocean view that Clemens has, and now there are several comps in the $3 millions!
Bid with confidence! No matter what the price, you’re not paying too much.
This is where we see the difference between the regular agents and the real professional salespeople, of which there were two.
Most agents will just forward my plea to their buyers, and let their buyers come up with a price. The real pros will adopt my thoughts and make them their own. Then they will advocate for their clients, and for those buyers who want a guaranteed win, the agent will lay out a solid strategy that will swamp the boat and blow out all other buyers. It’s what happened here!
LP = $2,499,000
SP = $2,975,000 cash, 15-day escrow, waived all contingencies in the offer, and the buyer paid their buyer-agent’s commission.
That’s a winning strategy!
Some before-and-after pics here:
Let us know if you're thinking of selling! We'd be happy to assist you.
