Lake View Laguna West Home Sold in 6 Days Over List Price

Upgraded lake view Laguna West home at 9200 Bearint Way.

No matter how many times I prove it, sellers often wonder whether it is worth it to hire a full-service Realtor, especially to sell a desirable lake view Laguna West home. It’s OK that they might be doubtful. Adding to their incertitude, if they have never worked with an Elk Grove listing agent like me whose sole practice is based on seller representation, coupled with a strong focus on maximizing profit potential, I can see why they might raise an eyebrow. I could just be some ol’ agent who sells houses, but I am not.

When I first met with the seller of this lake view Laguna West home, she had been renting her home for several years after moving to Carmichael. Based on the comparable sales at that time and the condition of her home, which was a little beat up, her value was estimated at about $50,000 less than the amount at which we eventually sold her home. The location was excellent, with a view of the lake from the second floor master suite. But the house itself was rather ordinary.

The carpeting was a sea green, almost bluish. Trendy at its time but it did not hold up to today’s standards. First I had to separate the seller from her love affair with this carpeting. To be respectful about the fact she had chosen this unfortunate color. The walls were painted builder-grade light cream. All of the wood trim in the house was oak, the cabinets and railings. There was nothing really special about it, except it had a good layout, with a highly desirable first-floor bedroom. Although the back yard featured alley access for RV, the yard was sloped downhill and rather small.

I had a vision for the seller, though.

I shared my vision of rich chocolate cabinets. She could hire a painter to spray the weathered wood. We could spruce up the kitchen further by installing an oversized pre-rinse faucet and hanging a couple of pendants over the island. We traded the first floor carpeting for hickory wide-planked engineered wood. I made several trips to the house to check on the progress of the upgrades. We discussed precise positioning of the pendants. Colors for the walls.

Next up, we staged the home. The seller was undecided about spending another $300 to $500 for extra accessories and window coverings. She was looking at the small picture instead of the big picture. Sometimes it is the little details that make a huge difference, so she opted for the full home staging package. It was magnificent. I hardly recognized the house when she was finished.

People don’t know this about me, but at a juncture in my 40+ years real estate career, I stopped selling houses and instead bought homes to fix up and flip. I moved into the houses and did all the work myself, starting out with a small two-bedroom home and working myself up to tri-level 1898 Victorian, which almost tripled in value upon resale. I have a good eye for detail and know how to present a home in its best light. I also understand the hands-on aspects of remodeling, how to create beautiful illusions on a budget.

We had initially met in November of 2016, the seller and I. After touring the home, I suggested we walk around the lake to chat. I laid out our plan as we strolled in the brisk fall sunshine. The seller took her time to finish the house and completed the remodeling jobs by the end of February. It was an extraordinary makeover. She was delighted. She was even more delighted when we sold the lake view Laguna West home for $50,000 more than its initial estimate. It took us 6 days to settle on an offer because we were involved in multiple-offers. Just as we were about to settle on an offer, I received a call from a Bay Area agent. Could she show the home? Could her buyer submit a bid and, if so, how much would it take?

I received written permission from the seller to name a number. The buyer met that suggested price and beat the multiple counter offers. Then, during escrow, after the inspections, the buyer’s agent sent a Request for Repair. Bear in mind we sold the home to the buyer with the understanding it was sold AS IS, meaning without any additional repairs nor credits. I especially pointed out the large window over the stairs that was defective and cloudy. We do not want to hear about this window after the home inspection, I cautioned the agent.

But like buyers often do, they want to try to squeeze more money during inspections. Even though they agreed to buy the home AS IS, they asked for a concession. This is the part where the buyer’s agent can either help a buyer to move forward or encourage a buyer to ask for a concession because they believe the adage, “You never know.” Well, you DO know when it’s my listing. The agent’s reason for asking for the concession was based on the fact the buyers paid $12,000 over list price and now they would like some of it back.

What? Is that a negotiation tactic?

I suggested to the seller they reject the Request for Repair. They are not obligated to repair anything. The answer to the buyer’s agent was no.

A day passed and the buyer’s agent called again to plead. Couldn’t the sellers please give her buyers SOMETHING, anything? Maybe just $500? Seemed to me like she had gotten herself into a pickle. What does the seller look like? A charity? This is why agents need to engage in lengthy conversations with their buyers long before any offers are created, and to thoroughly educate their buyers. It’s more work, yes, but then they could avoid these complicated situations they set themselves up for. It’s much better to establish expectations early on.

Our answer to the buyer’s agent was no. Now, if the buyer’s agent elected to contribute $500 toward her buyers’ cause, to ease their awful pain of buying a gorgeous lake view Laguna West home, that was her prerogative. And this is why happy sellers hire Elizabeth Weintraub at their Sacramento Realtor.

This is the third home I have recently sold on this street. 9200 Bearint Way, Elk Grove, CA 95757 sold at $487,000 on April 3, 2017. We went on the market March 3rd and closed escrow exactly 30 days later.