Anatomy of a Transaction: 20 Cypress Hollow Drive, Tiburon
Sold $3,500,000, $405,000 OVER THE ASKING PRICE
Client Relationship
From the outset, my clients placed their trust in my experience and expertise regarding thoughtful updates as well as market presentation and timing. They recognized that while my recommendations might differ from their personal style, I was focused on maximizing the return on investment for the property.
Thoughtful ROI
I conducted a comprehensive analysis of the home's current market value. Considering the demographic of the likely buyer for the property I created a detailed list of potential improvements along with their associated costs. Also, I provided the projected after-improvement value, clearly illustrating the anticipated ROI.
A Remodel and Upgrade
I led a strategic remodel that included updating key areas of the home to create a modern and inviting atmosphere. This involved:
— Enhancing the kitchen with beautiful quartz countertops, tile backsplash and painted cabinets.
— Renovating the guest powder room.
— Removal of some very dated cosmetic beams in the living and dining rooms..
— Bleaching the red hardwood floor to modern color.
— Removal of all built in window shutters to bring in natural light
— Fresh paint throughout the home, including custom color choices.
— Upgrading all light fixtures.
— Exterior shingle and brick painted to create fantastic curb appeal.
— Exterior adding new turf, all new landscaping on systems.
These updates transformed the property, making it move-in ready and appealing to discerning buyers.
Staging
High-end staging played a crucial role in elevating the property’s presentation. By collaborating with a top-tier staging company, we were able to create a welcoming and luxurious environment that showcased the home’s best features.
Strategic Pricing
Setting the right price was essential. Given the current market conditions, including rising mortgage rates and consumer hesitance, I carefully analyzed recent sales and unsold listings.
Notably, a similar home in the neighborhood had sold below market value due to seasonal timing, and another comparable property had sat stagnant for months. Understanding these dynamics was crucial to positioning 20 Cypress Hollow Drive effectively.
High Quality Photography
I incorporated high-quality images, aerial drone shots and video tours. The high end presentation was vital to our marketing success. I worked closely with my visual team to capture the property from its most flattering angles, highlighting the stunning exterior and versatile and family friendly interior to create a fluid visual story about the property.
The drone photography showcased not only the home itself but also its beautiful surroundings, which helped generate significant interest—over 60 visitors at the first open house and thousands of views online.
An Offer Deadline
Given the substantial interest, I implemented a deadline for best and final offers, a tactic that had become less common in a slower market. While this approach can sometimes deter buyers, my confidence in the property’s appeal proved justified.
Ultimately, we received three strong cash offers, illustrating the effectiveness of the marketing strategy and the desirability of the home.
Agent Experience and Relationships
The value of experienced buyer agents became evident during this process. Buyers represented by knowledgeable agents were far more competitive, understanding the nuances of the market and the importance of crafting compelling offers.
My established relationships within the industry helped facilitate communication and negotiation, ensuring that our strategy was well-informed and executed with precision.
To see Before and After images just let me know and I will forward you a folder.
This successful transaction at 20 Cypress Hollow Drive, Tiburon illustrates the importance and effectiveness of both a well-planned approach to improvements as well as a high end marketing strategy in a competitive real estate market. Strong agent relationships were essential in achieving remarkable results in the luxury real estate market.
