Our recently sold listing located in North Arlington is an example of the the anatomy of a repeat Glass House Real Estate client. Repeat clients are over 50% of our business.
I helped them buy the home, 2305 N Kentucky St, in 2016, for $740,000. Over the last year I visited the home and suggested minor improvements. Some of these improvements included finishing a partially finished basement and the addition of a mud room. It wasn’t cheap and they knew they could move within 1-2 years, but I felt confident they could enjoy it with their children and that these changes would be a good investment. The owners ended up doing the work at a cost of about $20,000.
Pricing The Listing
Before the Pandemic and even before the improvements, we thought we might list this North Arlington home at around $800k. At this point, the home required minimum investment.
Covid accelerated their timeline and at the beginning of quarantine, they started getting their house ready to list. Our trusted contractor safely did about $4,000 of listing preparation, including painting, power washing, miscellaneous repairs, as well as landscaping, as well as a few other minor clean ups and improvements.
Offers & Selling The Property
The improvements turned out fantastic! Our number one priority was making renovations that had the most return on investment. After a two week “coming soon” campaign, we went on the market at $850,000 and the very first inquiry we received on day one of our launch ended up successfully beating out 8 other offers to purchase the house! The offer was for $915,000 with no inspection or repairs.
Keeping all 9 offers informed throughout the launch and settlement was a huge part of our success. A solid strategy with a solid team executing all around! This provided our sellers with a 4 year return of $175,000!
Architectural gem in North Arlington. This unique 4BR/2BA Bungalow style single family home within walking distance restaurants, shopping, and entertainment. Turnkey home features three distinct living spaces, large bedrooms, multilevel Trex deck, professionally landscaped front and backyard, semi finished detached one car garage, covered front porch, and much more. Enjoy hardwood floors throughout the first floor, main level fireplace, refinished kitchen with stainless steel appliances &granite counters, upgraded electrical system, & tons of storage. The fully finished walkout basement comes with built ins, a bedroom &full bath, additional playroom/den, and a separate mudroom directly off the backdoor. All of this located in prime location close to community center, public transportation, and easy access to HQ2.
