Roger and Susan Garland parked down the street and waited for awhile to gain entrance into their house after a crowd of one hundred and sixty-four potential home buyers descended on their single level property of 1,511 square feet to attend the open house on La Sombra Avenue. Roger and Susan have lived in their Westgate tract home, north of Talbert Avenue and West of Ward Street, for thirty-five years. The list price was $1,189,000. Six days and eighteen offers after its debut, it sold for $1,360,000. Seventeen of those potential homebuyers are still calling me asking what else I have coming on the market.
The Crestwood tract of homes, north of Slater Avenue and west of Magnolia Street, offers a community pool, park, clubhouse and picnic areas. The monthly homeowner’s association dues are $118.
Last month, my partner Nick White and I represented the seller. Our client asked us to forego a For Sale sign and she didn’t want any staging in the newly vacated home. She asked us not to host any open houses. We obliged. Our comprehensive marketing strategy, including targeted social media advertising and utilization of the Multiple Listing Service, attracted significant interest in the property. We received bids from nine sets of discerning homebuyers for the single-level residence boasting three bedrooms, two baths, and 1,500 square feet of refined living space. The list price was $1,198,000. The property ultimately sold for $1,275,000, surpassing expectations by $77,000. This sale price also exceeded the previous transaction on the street, which involved a larger property of 2,154 square feet and sold for $1,100,000. Nick and I are both Certified Negotiation Experts.
Our client’s decision to engage our services over another esteemed local agent who boasted during her interview with the seller that, “Nobody else will achieve top dollar” underscores our commitment to delivering exceptional results. As our client aptly stated upon opening escrow, “I’ve been reading this column for years.
I trusted my gut. I’m glad I did.” The lucky homebuyers have three kids, two of whom will attend Tamara Elementary.
Their dad quipped, “When they are late for school, we’ll just throw them over the fence.”
Helen Fujiwara’s beloved dad passed away last month in the hospital. Her mom resides in assisted living. Helen’s husband Al is a real estate broker. He’s known me for twenty years. He asked me to sell the property at 9528 Pearl Avenue, in the Stratford Park II tract behind Plavan Elementary School. The home offers 2,412 square feet of living space.
It was in original 1972 condition. Within the month of March, Al led the project management team and had the home emptied, and painted top to bottom including the original kitchen cabinets with white paint. The tile countertops were re-glazed. New luxury vinyl plank flooring, new carpet and new windows were installed. The total cost of the makeover was $50,000. I contacted my stager. She and her team performed their magic, with furnishings and accessories throughout the home. We reviewed the comparable sales and decided on a list price of $1,439,000.
Six days after the broker preview, Al and Helen sat at the conference table in my office with big smiles as we studied the excel spreadsheet with the price and terms of the seven offers to purchase.
The buyers are a thirty-something couple with kids who will attend Plavan Elementary. The buyers attended the Friday broker preview with their agent, Jennifer Nguyen of Winland Realty & Mortgage.
The sale price is $1,570,000. If the home had been listed in original AS IS condition, without the makeover upgrades the list price would have been approximately $1,325,000. Helen and her mom netted $131,000 over the list price.
Update to the Insurance Column In the February issue, I wrote how our insurance provider had sent us a non-renewal letter in December, 2023, canceling our homeowners insurance effective when it was set to expire on April 3, 2024. That, despite the fact that we had never filed a claim in the twenty-one years we’ve lived in our Fountain Valley home.
Subsequently, I’ve learned that others have received the same notification.
Many of you have contacted me since. Here’s the scoop. Across the nation, insurance companies are no longer writing new policies. Those who are, will require a home inspection to ascertain what major component upgrades have been addressed. Homes that are thirty- forty and fifty years old, and still have the original plumbing and electrical wiring are subject to failure, and costly insurance claims, hence the blanket non-renewals.
Our home was built in 1965. In March after getting bids, we had the house re-piped at a cost of $9,200. We also paid an additional $1,300 to have Flo Moen installed. It monitors water usage and can detect and alert to any leaks. An automatic shut off valve is located at our front entrance. Our electrical panel is already 200 amp, and our roof is concrete tile.
We had a chimney inspection and paid $2,800 for masonry repairs. My husband shopped around for better insurance rates. We will save approximately $400 with our new policy, with similar coverage to our former policy.
Be advised that it’s very important to read every word when renewing your renewal policy. Many insurance companies are eliminating water leaks and the resulting damage. Other companies are requiring automatic shut off valves. The new regulations are not limited to California. These changes are being implemented throughout the nation. If you’re able financially to be pro active, do the upgrades, particularly on the plumbing re-pipe and the electrical. Call or email me. I’m more than happy to share the vendors we used. Each is excellent in their field of expertise.