A Smash Hit – 2-days, 4-dozen offers!

Ellsworth all 3 of us in behind bed of offers IIIIf you have been following my blog for some time, you knew that I was having a Grand Opening last Saturday on a small, yet very attractive 2-bedroom, 2-bath, 1000 sq. ft., 1-car garage condo in Lake Forest. I met the sellers in June when they happened upon a Grand Opening that I was having across the street. That 1,200 sq. ft. ‘original looking’ condo on Tanoak yielded a dozen+ offers and sold for $280,000. That seller was facing a Short Sale when I met her, but I told her that I had a very detailed plan to help her sell it at a price where she could walk away with cash in her pocket and her credit intact.

The sellers of last weekend’s Oak Canyon condo were amongst the 400 guests that visited that June afternoon. After seeing the crowds that came to that house, they knew that I did things differently.

One month later, they hired me to do the same for their home. The comps for a recent short sale model match were at $225,000. I priced their home at $229,000 with a nice incentive for agents to bring their buyers to it. I gave the sellers a list of things to do that would greatly increase the perception of the value of their home. They cooperated fully. By the time they were done, I re-priced the home to $229,000-$249,000. Thousands of dollars were then spent on marketing and advertising.

I opened the home up at 12:10pm for the Grand Opening and was met by a mob. There were 100 people who filed through this home in the first 5 -10 minutes. Come the end of Sunday…there were well over 400 visitors. By Tuesday, we had 48 buyers vying for this property. The phone was ringing off the hook and my email box was jammed. Ellsworth holding offers

Offers ranged from the low 200’s to the low 300’s. The sellers accepted a very strong offer for $280,000. This is $50,000 more than what their home might have sold for if it had been listed by a traditional Realtor.

Sellers: It will be many years before the market recovers to pre-adjustment pricing. If you would like to sell your home now to take advantage of the eager buyers wanting to buy before the tax incentive sunsets, I can make it EXTRA profitable for you.

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  1. On September 29, 2009 Keeping up with the market changes | says:

    […] pushing the prices back up, causing an onslaught of buyers and dozens of offers on homes like I had last week. For the sellers, this is a definite plus – getting asking price (or higher!) is a very […]

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