Learn how Team Steele helped a seller to maximize the return on their investment with the sale of this $2,299,000 home in Pacific Beach.
Team Steele was approached by an investor who had acquired a property at auction in Pacific Beach, only a block from the water. The property was a single family, three bedroom, 2.5 bathroom home at 2,050 sq ft, and was in need of updates and someone with the vision to bring the home back to its full potential. The investor was not local to the area and reached out to our team in order to gain insight on the current local market, our thoughts on value, and support in taking the finished product to market.
With homes that need updating, it’s always important to be conscious of budget and prioritize the seller’s bottom line and best interests. With our guidance, the goal for this home was to maximize the value of the property and return on investment, while minimizing the costs for the renovation. Based on our extensive market knowledge and experience selling homes, we were able to advise our client on the important projects that were going to have the biggest impact on their sale and avoid spending time, money and energy in areas that were not going to be beneficial or lucrative.
For example, we suggested the sellers invest in big ticket items like landscaping, replacing all the flooring, and repainting the entire interior of the home. However, we suggested leaving the cabinets, countertops, and backsplash as-is, because we didn’t think it would make them as much money as it would cost to do those renovations. We also made suggestions for lower-cost improvements that tend to make a big impact, like replacing light fixtures, removing window coverings, adding or repairing closet doors, and re-caulking bathroom areas and kitchen counters.
Here are a few examples of the initial photos that we sent to our sellers after walking through the property for the first time (hover and click the images below to zoom in!):
Not only did our team help to navigate the many steps of the remodel project, we also supported with choosing the finishes, like flooring, light fixtures, and paint colors. Additionally, we coordinated and managed landscape design and trash hauling, met contractors at the property, provided updates to our sellers who were not local to San Diego, and much more. When working with Team Steele, we are with you every step of the way.
Here are a few photos of the project mid-way through (hover and click to zoom in):
Once the renovations were complete, we were able to show our sellers how our team really shines. We’re not the agents who simply stick a “for sale” sign in the yard and wait. We know that every detail matters and marketing is everything in today’s world, so we go the extra mile in ensuring that all of our listings are presented in the best possible way.
Working with our trusted partners, our team staged the property with more modern furniture to fit the aesthetic of its newly remodeled features and have it looking like it was straight out of a magazine. When comparing the before and after photos side by side, it’s wild seeing how small and dark the home used to look as it was cluttered and packed with personal belongings with dated finishes looking drab in the background, to it’s light, bright, and trendy after-shots, showcasing every beautiful detail of the home highlighted by beautiful pieces of furniture and works of art. It has you thinking you’re looking at a totally different home!
Check out these before and after photos of the project (hover and click to expand):
We also brought in a professional photographer to take high quality marketing photos that you can see showcased as our “after photos” above, along with a full 3D virtual tour so that buyers from all over the world can view the home.
3D Virtual Tour:
Marketing is our truest passion, so once the home was renovated, cleaned, staged, photographed, and captured in virtual reality, we had some fun with our marketing and got creative with one of our videographers. We created the following marketing videos and campaigns that were pushed on Instagram, Facebook, Youtube and more. All of this combined with a strong listing launch and opening weekend of open houses and you have a recipe for a successful listing and sale!
Steps from the sand, this home’s prime location in Pacific Beach and its proximity to the ocean is one of its best and most desirable features. To highlight this, we used a model to help the buyer envision themselves enjoying their new beach lifestyle. We take the viewer through a relaxing “morning at home” enjoying a cup of coffee on the rooftop deck, changing into a swimsuit in the gorgeous primary bathroom, and grabbing the board out back on their way down to the surf.
With its premier location just blocks from the beach, we wanted the proximity to the ocean to be obvious to any interested buyers. We also wanted to showcase the home’s offerings and newly remodeled features, so we had John walk the viewer through the home as he talked through the neighborhood, area, bed and bath counts, square footage, and home features like rooftop deck and 2-car garage.
Furniture and decor are such vital components of buyers envisioning themselves in a space that we wanted to create a video specifically showcasing the staging that we brought into this home. Providing buyers with visual shots like the ones in this video allows them to get an understanding of room sizes, usability and how they might enjoy living in the home, and finally, how they might decorate the home themselves.
The Sale
So how did all of this come together? Within the first week on market Team Steele received a full asking price offer with strong terms. At the time of this sale, the market was shifting downwards due to increased interest rates, so our sellers were excited to receive the full price offer and jumped on it right away.
Despite the slower and more challenging market, we were able to help the investor/seller maximize their return on the sale while minimizing their risks. Especially in a shifting market, it is vital for sellers to partner with a strong and experienced agent to mitigate losses. Had we not moved as quickly for our sellers or worked as hard to sell their property in a timely manner, it could have potentially cost the sellers hundreds of thousands of dollars if the home had sat on the market without selling.
From initial remodel, to staging and marketing, to successfully launching the listing on the open market, we handled every aspect of the property and sale on behalf of our sellers. We are pleased to report that they were able to move forward with their full-price offer and after closing, were able to celebrate a successful project. Thanks to the results that Team Steele achieved with this sale, the investors have continued to work with our team and consult us on all potential San Diego area projects and opportunities.
Whether you're an investor or a traditional seller, our commitment and goal is still the same. To guide you every step of the way, while doing what we do best - helping you to maximize the return on your sale while saving you time, money, and energy.
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2820 Camino del Rio South, Ste.314, 