How do you sell your home for top dollar when there are no comparable properties to benchmark against? That was the challenge Natalie and Tony faced when we first met.
They purchased 6919 La Presa Drive in 2023. After completing major renovations over the next two years, they began considering a sale. The problem was that there were no comparable sales in the area to support the $2 million valuation they were hoping to achieve.
Here’s exactly how I helped them surpass their goal with no staging expenses, no price reductions, no appraisal contingency, and no repair credits.
1) HOME PREPARATION
When I first walked the property, I noted that Natalie and Tony had done an excellent job with renovations. They modernized the aesthetics, opened up the floor plan, integrated the kitchen with the living room, and brought the home to move-in-ready condition. Custom built-ins added both function and visual appeal.
Rather than bringing in a professional stager, my team and I worked with their existing furniture and added a few carefully selected decorative pieces to complete the look. This eliminated the need for costly staging expenses.
Natalie and Tony had a toddler and a dog, which made showings more logistically demanding. Before each showing, we arrived early to ensure the home was presentation-ready, and we stepped in to help with last-minute cleanup whenever they needed to leave quickly.
They had also experienced transients entering a previous home during a sale. We walked them through our property monitoring protocols and checked in regularly throughout the listing period. That peace of mind mattered to them, particularly while they were overseas for vacation.
2) PRICING
There were no comparable sales to support a $2 million valuation, but that was the number Natalie and Tony were looking for. If they couldn’t reach it, they were happy to stay.
Based on my experience, I was confident we could command a price between $2 million and $2.1 million. That confidence was based on the home’s unique combination of high-value selling points: beautiful renovations, timeless Spanish character, a single-level floor plan, two ensuite bedrooms, access to the award-winning San Marino School District while being located in the more affordable community of North San Gabriel, and more. Simply put, it was in a category of its own.
I listed the home for sale at $1.95 million. That price was strategic. The goal was to capture the attention of buyers with budgets around $2 million while also attracting buyers with budgets up to $2.5 million.
3) TIMING
The home was first listed for sale at the end of October, during the final selling window of the year. While we had strong showing activity, no offers materialized. Rather than let the home sit through the holidays, I advised pulling the listing off the market in December and relaunching in mid-January. The reset worked. Offers came in and Natalie and Tony were in escrow at the beginning of February.
4) NEGOTIATING
An initial offer came in with a strong price, but we declined it because the buyer was unwilling to waive their appraisal contingency. In other words, if the home failed to appraise at the agreed-upon price, the buyer would be able to cancel escrow, leaving my clients back at square one. Given the lack of comparable sales, I felt this was too risky and recommended that we stay the course. We continued marketing the property and found a stronger buyer shortly thereafter.
We opened escrow with this new buyer at an agreed-upon sale price of $2.05 million, which was $100,000 above the asking price. There was no appraisal contingency. Securing a price well over asking in the absence of a multiple-bidder situation is entirely possible when you truly understand the market. In this case, we knew there were no other homes available in the same price range that shared the same combination of strong selling points. That knowledge gave my clients leverage and confidence. I communicated our price expectations clearly and held firm through five rounds of negotiations during which we made no price concessions for repairs.
THE OUTCOME
Natalie and Tony’s home sold for $2.05 million, which translated to $1,088 per square foot. They purchased the property less than three years earlier for $1.65 million, invested in thoughtful renovations, and realized a healthy profit. No staging expenses. No repair credits. No price reductions.
IF YOU’RE CONSIDERING A HOME SALE…
I’d be happy to provide a complimentary consultation and discuss the strategies that can help you maximize your sale price.
You can call or text me at 626-807-6581 or email me at eva@linrealtygroup.com.