In 2015, Kelsea and Alberto first stepped into 501 Merritt and they simply knew immediately that it was "The One." Paul was their agent at the time, and he helped them beat out all (16!) other offers.
Five years and one baby later, it was time for Kelsea and Alberto to move on. They bought a new construction home in Castro Valley, and contacted us to help them with the sale of their Lake Merritt condo.
We did a walk through and created a property prep checklist, outlining high/medium/low priority items. Then, we did a cost-benefit analysis of two options. Option 1: Spend about $20,000 in full property prep and staging. Sell the home AFTER moving into their new home; Option 2: Clean up, organize, and stage the home themselves. Sell the home WHILE living it it and request a rent back to continue living in the home AFTER close of escrow.
As you may know, the condo market has softened since the pandemic hit, so we were slightly worried about putting money into a home without being able to guarantee a 3:1 ROI (return on investment). We decided to go with option two, and Kelsea and Alberto got to work!
They organized, packed, pared down, and bought some new art and decor. They planned a weekend away and we held showings during that time. By the time they got back, we had a strong offer in hand and we were in contract with not only a generous price, but also a long rentback period! They ended up selling their condo for $160,000 MORE than they bought it for during a time when condo prices are not doing so hot.