Just Sold SFR: 3005 Blaisdell Ave
I see a lot of Realtors use as a tag line something like “every house has a story”, or something like that. I don’t use that phrase but if I did, 3005 Blaisdell Ave in the N Redondo Beach TRW tract would be the poster child for that phrase.
I have written about this listing multiple times and you may have seen it online on various sites over the last six months and in different presentations and configurations.
Here’s the story and it is a good example of what I can do for my clients as well as the behind the scenes of how things really work.
The sellers of 3005 Blaisdell live abroad and had not seen this property during the 10 years it was leased.
When I first saw it, it looked like you would expect a property that had deferred maintenance and had been tenant occupied for an extended period of time to look (no disrespect to the previous tenants or anyone who is a renter). As you go through the gallery below I’ve included some before and after photos. It should be obvious which are which. I hope.
Simply put, either this home needed a major refresh and updating to bring out its full sales potential or it was going to sell at a discount, possibly a severe discount. But, just to test the market we listed it while the tenants were there and with no updates just to see the response. It wasn’t very good. The offers we did receive were very low ball and mostly from flippers.
Speaking of flippers, I did run it by a few of my investors as well. They didn’t want to touch it at a price that the Sellers would accept.
So now we get to Phase 2 which was marketing it after the tenants moved out in January but before any improvements were made. We continued to get offers but not much better than previously. So we moved to Phase 3.
You may have seen advertising about my “Refresh and Resell” program. Basically what others might refer to as “concierge service”. Since my service level is already concierge (seriously) I have a different name for my program. You may have seen advertising about my “Refresh and Resell” offer and that is what I am referring to. Others call it “flip your own house”.
I presented a plan to the Sellers on how we could "reimagine" this unique home featuring an amazing floor plan to make it more appealing to today's buyers. Then, after selecting all the materials and finishes, I worked with the contractors to get it done. Best of all, the sellers did not have to pay for any of the work until escrow closed. That’s the unique value equation.
Here's some, but not all, of the improvements we made.
New Light Fixtures
New Attic Insulation
New Wood Flooring
New Hardware on Doors
There's probably more but I'm sure you get the idea.
Your home might not need this much work to sell for the highest price possible. But if it does, call me about my "Refresh and Resell" program.
So now on to the actual sale.
Here’s the stats for Blaisdell:
2859 Sq Ft Built in 1989
4 bedrooms / 3 baths
5000 Sq Ft lot
Based on our own floor plan measurement, we believed the house to be larger, over 3,300Sq Ft, but advertised it as the 2859 in the property tax records.
We had a great response at the first weekend open house and then accepted a contingent offer for $1,410,000. Why would I advise the Sellers to accept a contingent offer? Very simple. I really felt that these Buyers would “stick” if their home would sell.
And that’s what happened even though they had to open escrow 3 times on their sale.
Then through another series of events which I won’t bore you with, the Buyers had to move out of their previous residence before the escrow on this one closed so we had them execute an “interim occupancy agreement” so they could move in early. Again, another no-no which I would strongly advise an agent NOT to do. But I did it.
And in the end everything worked out fine even though I took 2 huge risks. Sometimes you just know.
Here’s a photo gallery starting with the original pics and them moving on to the re-imagined house.