I recently watched a home in my neighborhood get purchased and flipped by an out-of-area investor. The property was owned by the original family, who had it built in the 1950s. Though it had a great deal of deferred maintenance, it had quintessential mid-century features and incredible potential. Instead of restoring or replacing the damaged solid oak floors, they covered them with laminate and very stylized, inexpensive laminate cabinets were installed, resulting in finishes that lacked any semblance of quality or architectural nod to the era. When the house hit the market, I shared it with clients looking to buy into the neighborhood. I prefaced the share by noting that this was a flip, that some of the improvements were not ideal, but that the location was good and the layout and space were quite nice. When they saw it in person, they could not get beyond the floors and passed it over, even though it represented a real opportunity to get into a neighborhood they really liked.
The house sat on the market significantly longer than every other home in the neighborhood. In my experience, the issues went beyond the finishes: in addition to the workmanship and the material choices, the staging did not help. It looked sterile, low budget, and did not complement the house or the era.
The problem with flipped properties or properties with some pre-marketing renovations is that some sellers prioritize quantity over quality. The majority of my buyer clients appreciate tasteful renovations, but they are not interested in paying a premium for finishes that are not thoughtful, or that appear, so to speak, to be "lipstick on a pig". We live in a very savvy, niche market where buyers appreciate quality. They appreciate renovations, upgrades, and remodeling, but they look for quality over quantity. It comes down to integrity and thoughtfulness.
When advising sellers, I recommend upgrading a few things really well rather than trying to tackle everything that may be needed. Today's buyers will take on repair recommendations, and they are not looking for perfection, but when it comes to paying for repairs and upgrades, they want quality. You want a buyer to really love a place and be excited to have it, so they go for it with their best offer, and when that offer is accepted, they are eager to see the deal close smoothly.
That is exactly how I approach every listing. If you do something, do it well, make it thoughtful; it is perfectly fine to leave some things for the next steward.
I am currently working on three listings in Redwood Heights, a single-family home with an ADU in Upper Laurel, a cute bungalow in Upper Dimond, and one in Montclair, and I cannot wait to share them with you. Last year I added a weekday evening open house with nibbles, giving neighbors and buyers an opportunity to stop by after work and see the property in a different light, with a different energy, as the neighborhood comes home at the end of the day. To kick off spring and highlight the block at 3292 Jordan Road -now pending, with 4 offers received - I hosted a free soft-serve event with a Mr. Softee truck. It was a real hit! Tons of neighbors came out, highlighting the community, which is one of the property's greatest assets.
If you are not on my snail mail mailing list, please email me. I send invitations to my evening open houses and my annual local custom calendars.
Thanks again for allowing me into your email inbox. Please know I am an email or phone call away, and no question is too small.
P.S. for more real estate, follow me on Instagram
