Articles tagged with: Fullerton

A golden opportunity in Golden Hills: Can we stay under budget and on-schedule?

A golden opportunity in Golden Hills: Can we stay under budget and on-schedule?

At Bobbett and Associates, we do all we can to help our clients see the highest return on their investments, and we do so by advising them on key improvements they can make upon listing their home that enable us to ask a higher asking price than we might otherwise be able to.

Our latest renovation project is an exciting one. We were called by an out-of-area property owner who was looking to sell a very special house – a property in the Golden Hills neighborhood that’s been in the same family since it was built in 1956.

The home was in need of some strategic improvements to ensure we would be able to maximize the current market value. With a firm budget of $10,000 or less, and with a 12-day timeframe to complete the upgrades, we certainly have our work cut out for us!

We are in the process of completing the following improvements:

  • Refinishing the beautiful original hardwood floors throughout
  • Full interior painting, including painting of the original kitchen cabinets (this is a fantastic way to update a kitchen without spending a lot of money, we’ll finish the cabinets off with new hinges and hardware as well)
  • New tile floor in master bathroom
  • Various handyman fixes from plumbing to electrical as needed
  • Light landscape clean-up in the backyard and removal of an old metal patio cover

Once these projects wrap, the final steps will be a full house cleaning and then home staging by Martina (a complimentary service provided by Bobbett & Associates). A professional shoot with a real estate photographer will allow us to show off our beautifully updated home in the best possible light.

Without the improvements, the home would likely sell at $625,000 or less. But with a strategic budget of $10,000, we hope to get well over $720,000 for the home, in other words, a net gain of $85,000 to our home seller!

We can’t wait to show off the huge improvements at this house when we go to market in a few short weeks. Stay tuned for an update on how everything turns out.

Bobbett & Associates: All spruced up after strategic improvements make best use of seller’s budget

Bobbett & Associates: All spruced up after strategic improvements make best use of seller’s budget

As our clients’ advisors and support, we make every effort to guide home sellers toward home improvement projects that will add value to their home and maximize their sales price.

Our latest project property had been a rental for many years and was in dire need of some TLC, and we were faced with some large home improvement chores.

We oversaw every aspect of this renovation project on behalf of our out-of-state seller: new roofing, permitting, landscape clean-up, interior painting, hardwood refinishing and a variety of repairs and updates throughout the home, primarily kitchen and bathrooms

Because this house required some big-ticket fix-it items, our costs turned out to be higher than usual at $28,000, with the final cost for improvements coming in slightly higher than the $25,000 budget we initially estimated.

Half of our budget went to the new roof, which is not a common improvement for most home sellers before selling their home. But the roof on this home was the original 50-plus-year-old wood shake roof. It had to go!

Two other items on our wish list could have used attention, central air conditioning and updated windows. In a perfect world, the home would have already had central air and updated windows making the property more comparable to others in its price range. We advised our seller to skip these projects however, because it would have been difficult to recoup the additional out-of-pocket expense and we wanted to ensure we could maximize resale value for our seller.

Our out-of-state seller was thrilled to see the massive improvements and the higher sales price. She loved how we strategically and logically made the best use of her budget by making repairs and updates that were the most cost effective. Once the home improvement tasks were completed, we turned our attention to developing an effective home staging strategy to ensure the house made a positive impression on prospective homebuyers.

As we’ve noted before, a beautifully staged home can make such a strong impression on would-be homebuyers, they may wind up offering above asking price.

In the end, our home improvement advice and home staging efforts on behalf of this lovely homeowner and house in Fullerton paid off. The house sold for $115,000 more than the sitting tenant had offered the owner.

Home improvement advice and project management, as well as the home staging services, were inclusive and at no additional cost to the seller – just part of what distinguishes Bobbett & Associates from ordinary Realtors® – truly FULL service real estate representation.

Realtor Redux: Long-time rental property gets ready for market

At the Redux Realtors our aim is to help our clients make strategic improvements to their homes so they can reap the highest return on their investment once the home hits the market.

With our most recent project, a home with an out-of-state owner that’s been a rental property for the past 15 years, we’ve identified several “strategic” improvements that are necessary and a few of them may be costly.

The biggest item on our list is a new roof. The new roof will cost several thousand dollars, but will also provide a major appearance upgrade. In addition newer roofing technologies such as tiles designed to reflect solar heat can help lower utility costs. A new roof can increase a home’s resale value by as much as $12,000, according to some estimates.

The other item on our list that will be sure to cause a transformation is all the landscaping work we plan to do. The house is currently hidden by overgrown hedges, which may be a deterrent for some buyers. By trimming the landscape, we can better frame the house and make it more inviting to prospective homebuyers. Investments in landscaping can return as much as 20%, according to some estimates.

The outdoor areas are not the only part of this property that will need some TLC, but the interior improvements will have to be made with a conservative budget since such a large chunk of our budget will go toward the new roof. We also plan to refinish the original wood floors, add a new layer of interior paint, install new kitchen cabinet hardware and bring in a professional cleaner. To complete the look and accentuate the home’s many wonderful features, we also plan to stage the home using pieces from our own collection.

Overall, we anticipate this project will require an investment of about $25,000 from the home seller. All together, we expect work to last about three weeks to a month. As-is, the current tenant has offered $525,000 to purchase the house. With our Redux Realtor improvements, we hope to sell north of $625,000.

We look forward to updating everyone once the house is complete.

Weekend open houses happening in Orange County, CA (Sept 24 + 25)

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Realtor / Equal Housing