Denver real estate success story...
I listed this home in October, we closed it today. As nice as a closing is, the real reason this is a success story is...
The owners purchased this home in March 2006. Yes, that's this year.
When we bought the home it was a buyout by a 3rd party. Owned by a very large company who has recently changed their name.
The home is in a very nice neighborhood in a very popular school district.
The home itself was in poor condition. It had been on the market for at least 6 months. The price had been reduces several times.
My buyers (the now-former owners) bought the home sight-unseen. When the new home builder we were working with got too annoying, we dumped him. I took photos of this home, emailed them to my clients in California and they wrote an offer. We closed it in March.
They moved in and started sprucing up the place. Paint, back yard fencing and some rudimentary landscaping. After working hard all summer, they decided they wanted a smaller place. So they called me in.
I was very skeptical to say the least. Flipping a home in 7 months, expecting to recapture expenses and make a profit in THIS HORRIBLE, HORRIBLE DENVER METRO MARKET, was unreal. We crunched some numbers, came up with a price and put it on the market.
To make a long story story...MY SELLERS walked away today with a $xx,xxx profit in their pockets...
So Denver Metro Media....HORRIBLIZE THIS!
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Congratulations Kristal - That is the type of positive stories we all need to hear. We can turn this market, we need to stop being negative. Congratulations to your sellers as well.
Congrats Kristal, I'll bet that just made your holidays. Positive is good.
Thanks Jay
Krsital- You're so Jersey. If you got it baby..flaunt it. Nice work!
Ines ~ We have lots of positive stories, they need to be told! I'm very proud of my sellers! I'll tell them we are blogging about 'em!
Jay ~ Yes, my holidays are made...hope yours are too!
Brian ~ You can take the girl out of Jersey, but you can't take the Jersey out of the girl... :)
kk
KK, Really good story! Congratulations!
Unfortunately these "nice" stories don't sell news. So we have to do the promoting and let the people know how good the market is. Maybe this is what blogging is all about!
www.HomeRome.com
Baltimore, Md
You also make a point about the money lost by not sprucing up a home before putting it on the market.
Kristal - WAY TO GO!!! And congrats to your clients for their hard work and for hiring themselves a top-notch REALTOR!
That's a great story to hear about in the "horrible" markets the media carries on about.
Ann
Margaret ~ Please keep "telling it like it is!" We need to get both sides of the story out.
Sharon ~ Yes, sprucing up is important all the time. Of course we took advantage of it.
Ann ~ It's easy to be "great" when you have Perfect Clients to work with! :)
Now, if we can just get the Denver paper to write a story about this blog post...
Kristal,
Congrats to you and your clients. Just curious, and don't feel like you need to answer, but I have a few questions.
Did the buyers use a buyer's agent? Were they aware of the recent sale price? How did the home appraise?
That home looks like it has an interesting floor plan. 2-story foyer ... Den? ... side-load. Are they a national or local builder?
Ah-h-h, the Big C. Don't you just LOVE 'EM!
I absolutely LOVE IT when the market proves my pessimism wrong! It's the Murphy's Law of Real Estate. The deal you think will never happen DOES, and the house you think is a slam dunk, sits FOREVER!!!
KK Good job! Congratulations are definitely in order...
Stefan ~ Yes the buyers had a buyers agent (most buyers in Colorado use a buyer's agent), I have no idea if see looked up the original price. Yes the appraisal came in at purchase. And your point is?
Elaine ~ The Home is a Richmond home. Nice floor plan. The big difference here was the 1 acre lot. We just don't have that many large lots here.
Rich ~ I agree. I have been blindsided by sales and no sales every now and then.
Joanne ~ Thanks, we are all pleased.
kk
KK - I am sure that you did a fabulous job marketing the property to obtain such great results for your clients (and it sounds like you helped these clients buy right, also), I was just curious as to whether or not the the new buyers may have overpaid. One of the first things I do as a buyer's agent is look for any recent sales, both in MLS and county tax records. I'm assuming that transaction costs on your clients' most recent sale were in the 7 - 10% range, so to make a profit, your seller clients must have netted more than that. Like you, I would have been very skeptical about the possibility of a successful flip in such a short time, given current market conditions. Congratulations on achieving such great results on behalf of your clients!
Stefan ~ you might want to consider the owners bought right initially.
FYI ~ I would be happy to discuss the merits of Buyer Agency on general terms. However, specifically with regard to this property or any other specific properties I would not engage in such conversation whether it be online (like this public forum) or in person.
Buying from Cartus and the other relo companies can be the best deal in town right now. I look for those homes for my clients. I have some great stories about savings I got for my buyers this year when we were dealing with relo on the other side.
Ps. nice hat mrs kringle. ho ho ho.
Good to hear there are savings with 3rd party listings. That's a tip folks!
Glad you like the hat. I'm afraid it's going to give me "hat hair."
kk
This sort of news is always great to hear, Kristal. I'm happy for you and your sellers.
BTW, I didn't think that the word "horriblize" was Googleable, but guess what? You came up at the top of the search results and this blog post is only 4 days old!!!
Oh... and I love the title of your post - and your Santa hat!
Leanne ~ cool! Now I can be #1 on google for Horriblize! I'll be lots of folks will be searching for me that way :) And I was afraid I spelled it wrong...it doesn't matter does it?
I like the hat too, I just hope I don't get "hat hair" from wearing it all day long.
kk
Ah... the power of the Internet. To me, just the fact alone that it's showing up on Google within 4 days tells me you were smart to put the "Denver real estate success story..." linked sub-title. It should help you even if no one is looking for horriblized real estate in Denver!
Will you wear a "Happy New Year" hat after Christmas? :-)
Oh, I forgot... you also show up as #1 (of only 2) when you Google "Denver Real Estate Success Story".
Just thought you'd enjoy that one!
OK Leanne, when you google "Denver Real Estate S uccess Story" I come up? Very cool.
The hat is an antique, I must be very careful of it. I won't be wearing it after Christmas..it must be put safely away until next year.