Nov 17, 2008
Sale of the Week: Two Steps Toward a Quick Lincoln Park Sale
List Price: $2.395 million
Sale Price: $2.2 million
The Property: Although just four years old, this 13-room house in west Lincoln Park got a $50,000 makeover before going on the market in September. What’s more, the residence was priced $75,000 below what its sellers had originally paid for the place. The makeover and the price reduction seem to have been smart strategic moves: the house sold in 27 days, a rare feat at a time when houses in this price range typically linger on the market upwards of 90 days.
Situated on a much-desired block just south of the Armitage Avenue shopping strip, the red brick and limestone house has a steep slate roof and a pair of French doors that open onto Juliet balconies. According to the sellers’ agent, Laura Calvache, the pretty interior has Brazilian cherry floors, a kitchen adjacent to a large family room, and a large third-floor great room that opens onto a rooftop terrace. There are four bedrooms together on the second floor—no easy trick in a big modern house on standard 25-foot lot.
The sellers, David and Diane Houten, who could not be reached for comment, listed the house for sale on September 30th and had a contract on October 27th. The deal closed November 7th. The buyers are not yet identified in public records.
Price Points: The sellers were moving to another country, Calvache says, and asked the agent what she thought the house would sell for. Calvache checked out ten roughly comparable houses in the neighborhood—most of them newer than this one—and made two recommendations, both of which her clients OKed. First was the asking price, which would entail a loss for the sellers. “But they got it,” she says. “They knew that was what to do unless they wanted the house to sit around until next year.” Then, with her clients’ approval, Calvache had some exterior tuckpointing and painting done, had the interior repainted, power-cleaned the decks, and installed some new carpeting and several showy new light fixtures. “We were up against new construction,” Calvache says. “We had to wow them.”
Listing Agent: Laura Calvache, Coldwell Banker, 773-799-2834
Posted at 07:20 AM in Sale of the Week | Permalink
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Reader Comments:
I would like to add one more thing to this success story . . . The buyers, whom I did not represent, commented to me on more than one occasion during the process how much they appreciated my professionalism and positive attitude towards this sale. They had previously experience allot of negativity in the marketplace, from other agents and sellers alike. In particular, because they looked young, they were not being taken seriously by the sellers’ agents. Let’s face the facts; we are all working in very challenging times. So, why make it any more difficult by becoming just one more obstacle to a successful sale? I feel immensely satisfied that I was able to help two families move on with their lives, what more can we ask for?
such humility...