Here is a “shiny penny” of a house located a stones throw from Chatfield reservoir. I was really excited to write about this home. There is so much to do in this extraordinarily beautiful area. Continue reading “Chatfield Reservoir Area Home for SOLD!”
These folks in the Washington Park area had been searching for a low commission realtor in Denver, in order to save a little money (ok a ton) and they found me on Google. They informed me that they had called the local “top real estate gal” and that she was unwilling to negotiate or help them in their time of need, so they seemed relieved to find me and we set up an appointment. I went and checked out their house and it was a very well cared for 1092 square foot craftsman style home with a basement. It was about three blocks off I-25, three blocks off Downing, and three houses down from Wash Park! I wanted to move in immediately, being so close to the park and all it has to offer.
I did notice some deferred maintenance outside the house, but it was minor, a little peeling paint and the roof needed replacing, however, the inside was a show room. The home owner’s wife had the inside immaculate, I thought I had walked into Architectural Digest, everything was clean, perfect and already staged. I had found a diamond in the rough, the shiny penny.
They explained that he had lost his great paying job and that they were living solely on his wife’s salary for quite a while now. I could tell it was stressing everyone out. I could tell that they did not really want to move, but in order to save their credit they really had no choice. I explained that I could indeed help them get out from under the mortgage, and fairly quickly.
These are the calls that can be very emotional, yet rewarding as a Denver discount real estate agent. I was able to present a scenario where they liquidate their home for the highest amount of money super quickly and keep the most equity possible. They did not realize quite how hot the market is right now and that they had made a very smart decision to buy where and when they did.
I thought that the house would sell fast, as they had invested a ton of money into all of the right places. The kitchen was gorgeous with super high end appliances. It was a classic win win situation. I could list the home easily as it was a “shiny penny” and we could get them into something more affordable before foreclosure and bankruptcy caught up with them.
He seemed relieved and told me they would get back with me a few weeks after they pulled the weeds from the gutters, and spruced up the place. I kept in loose contact for a few weeks and had given up hope, when I finally got an email telling me that they were ready for me to photograph the home.
I went and took the photos of the home and some of the nearby park in preparation for my listing. I then researched the comparable solds in the last 6 months. I suggested that we significantly raise the price from what they thought it should sell for. She thought I was crazy, and he thought it was a great idea. I got the listing research together and put it on the MLS and the 50 other websites that I market on. The phone rang immediately. Thank goodness I had suggested to raise the price. We were going to get multiple offers anyway. The first weekend was Labor Day weekend, I have noticed it to be the second most popular weekend to buy a house. We got quite a few showings that weekend and an contingent offer was on the table at full price with double earnest money. We accepted it.
A week later the contingent deal fell apart and the dominos fell, knocking our deal apart too. I put it back on the market before the weekend tours began, BAM another offer came in on Monday. It was a low ball. I called the other agent with the contingency and told him. He said he would try and get them qualified without the contingency. They did manage to get qualified with the help of some family members and we had a bidding war brewing.
Written by:
Nicholas Bowman
