just sold Archives - Seattle Condo Broker

April 4, 2017 By Jeff Reynolds

Just Sold, Genesee Townhome, Nearly 18% Above The Asking Price

Seattle Real Estate Case Study

Just Sold | 17.65% Above Asking Price
4108 37th Ave S #A, Seattle Wa 98118
Asking Price $425,000
Sales Price $500,008

Situation | Objective

Our client contacted us to run analysis on renting their home versus selling it. We carefully presented both sides of the argument and the client decided to rent and build equity. We found them a home to purchase and ultimately, they decided to put the home on Craigslist. After a few months of trying to rent, we were given the opportunity to Sell the home. After a thoughtful analysis, we agreed to a price of $425,000.

Marketing and Sales Strategy
If you have read about our marketing strategies before, you would have known that we customize a unique sales and marketing strategy for each one of our listings. In this case, we knew we had to appeal to millennial buyers who would LOVE the opportunity to be close to light rail for an easy commute to work. We customized a marketing strategy and moved forward with staging and professional photos.

Result
We successfully procured 6 offers for our client. During the first week on market we had to think and act quickly as another home with more square footage and an extra bedroom hit the market just 4 blocks away. We adjusted our review date and were able to reach buyers who were not successful in bidding on the competing property. This allowed us to attract more interest and offers on our home. Through multiple rounds of negotiation, we were able to drive the price up to nearly 18% above the asking price.

Want to hear more about this sale? We would love the opportunity to help you or someone in your life looking to buy or sell real estate.

See more photos here

June 23, 2016 By Jeff Reynolds

Just Sold, 5% Above The Asking Price In Fremont

Seattle Condo Case Study

Just Sold | 5% Above Asking Price
Kauvion Codnos | Unit #201
Asking Price $395,000
Sales Price $415,000

Situation | Objective
Our team took on a tough challenge with a 2 bedroom condo located right on 99 (Aurora) in the Fremont neighborhood. This hurdle did not deter our feelings about the unit or the potential target market. We competed for the listing and earned the right to represent the seller. Our approach and our resume with condos is always an added feather in our cap when interviewing with prospective sellers. We believe we are the best condo team in Seattle.

Marketing and Sales Strategy
The marketing/sales process started with a very important approach towards the potential issues that come with marketing a property right on a major highway. Highway 99 is a 50-55mph thoroughfare running right down the spine of Fremont. We had to accept the fact that buyers may be deterred. We focused on what we did have, not what we didn’t. That meant a significant amount of prep work in getting the unit ready. We painted, addressed some interior issues in the common area and basically had the unit in perfect condition prior to the staging install.

The staging and professional photos could not have been better. We used these two components of the sale to really drive interest not only in Seattle or domestically but tried to expand our reach internationally as well

Result
Finally connecting with an international buyer, we negotiated a multiple offer situation that increased our sellers asking price from $395,000 to $415,000. This was an all cash offer that closed in less than 3 weeks. Our seller was pretty happy with the results :-).

See more photos here

May 2, 2016 By Jeff Reynolds

Just Sold, 20% Above Downtown Seattle Average

Seattle Condo Case Study

Just Sold | 20% Above The Downtown Seattle Average
Continental Place | Unit #1401
Sale Price $420,000

Cost Per Square Foot $820
Downtown Average In March $681
New Construction Average (Insignia Towers) $719

Situation | Objective
Our team took on a very interesting challenge. We were given the task of selling a 512sf unit at Continental Place. The seller challenged us to get a higher than market price for the unit. This was especially difficult as the condo had seen very little updating over the years. We took on the challenge and in less than 60 days we found a buyer who was willing to purchase the unit at a premium. At $820psf, we raised the bar. The Downtown Seattle average was just $681psf last month.

Marketing and Sales Strategy
The custom marking plan deployed had to be near perfect. Whenever you list a property over market value you have to expect push back from the market. Understanding our clients objective, meant that we had to meet the market with a clear and concise message. We had to lean on market indicators that would help to “price in” what we felt the value of the condo was and the direction it was going. Buyer’s were going to reject our pricing model, so we had to meet those objections with a thoughtful perspective on pricing/offering. We used inventory, the strength of the building, the tenure of the door staff and a number of other key factors to justify an above market ask.

Result
We don’t mind tooting our own horn on this one. The numbers speak for themselves. Event though it took us nearly 60 days to sell the unit, we procured an offer that was $820psf. That is 20% higher than Downtown average last month. It was a huge success for our team, but more importantly for our seller!

Cost Per Square Foot $820
Downtown Average In March $681
New Construction Average (Insignia Towers) $719

Interested In Selling Your Condo?

Name*
First Last
Phone
Email*
Comments
CAPTCHA

SeattleCondoBroker.com was designed by Jeff Reynolds. It was built to display the un-paralleled Seattle condo service for buyers, sellers and condo enthusiasts. In partnership with UrbanCondoSpaces.com, we invite you explore past sales, current listings, market data, new projects reviews and more. Jeff and his team of Seattle condo experts are the premier real estate team in Seattle, Washington.

March 26, 2016 By Jeff Reynolds

Just Sold, Insignia Towers 1802S

Seattle Condo Case Study

Insignia Towers | 1802S
Asking Price $925,000
Sale Price $915,000

Situation | Objective
We were referred a high end client who was relocating their family to Silicon Valley. The objective was to develop a creative marketing and sales strategy that would compete with the new construction condo developer who was selling the remaining 14% of inventory in the 2015 twin tower condo project. The client’s ability to move was not conditioned upon the sale of this condo but was extremely important.

Marketing and Sales Strategy
The challenge was obviously competing with the marketing budget of a multi-million dollar condo development. We had to create some differentiation. We were flawless with our photography and hired a production team to film a 4K video vignette that we distributed both domestically and internationally. Our goal was to focus on the amenities of the building and the proximity to the core of Downtown Seattle.

Result

Our marketing received a lot of positive feedback and the response from the market was excellent. We sold the property in 31 days and our client is currently relocating to California. It was a successful venture – our seller was happy with the results.

High Rise Living At Insignia Tower | Unit #1802S from Urban Condo Spaces on Vimeo.

Interested In Selling Your Condo?

Name*
First Last
Phone
Email*
Comments
CAPTCHA

September 24, 2015 By Jeff Reynolds

Sold, 5th and Madison Unit #1903

Seattle Condo Case Study

Situation

We were given the opportunity to sell this condo after it failed to sell just earlier in the year (2015). It was previously listed for $550,000 in July of 2015.

Strategies & Tactics

We built a sound marketing strategy that included staging, professional photos, video and a social media blitz. We sent our signature just listed campaign, catered a brokers open and reached out to our downtown brokers network.

Result

To the surprise of our seller we raised the price to $598,000 (from $550,000). In just 12 days, we successfully found a buyer for our seller. Our sellers were thrilled with our pre-listing, marketing deployment, our contract negotiation and the successful close in less than 30 days.

Name
First Last
Email
Phone
How Do You Prefer to Be Contacted?*
- Phone
- Email
- Text Message
Your Message