End-of-the-year holidays are less than ideal to have a home listed. Coupled with high interest rates and some heavy rains most end-of-year buyers become window shoppers and focus on family while sellers try to weather the seasonal storm.
4 Oakhurst is a huge (by Marin standards) 3-level home with a detached adu (3.6k+ total square feet), that had sat with no offers in the slowest year of home sales since 1995. In my opinion, it was too big for most buyers, but it was perfect for my clients who were looking for rental income after selling a few investment properties. The seller had taken it off-market, removed staging, and seemed willing to test the waters come Spring, staunch on their initial asking price of $1.795M.
All that being said my buyers saw an opportunity and wanted to give it a fair shot. After some heavy negotiations (3 counters & $10k towards closing), a 2-month seller rent back, and 60-day close of escrow they were handed the keys to their recently renovated home at a price per square foot usually reserved for non-lendable fixers, $468, $90k under the initial asking price.
This was another friend turned client who entrusted me to help them buy their first Marin investment property, I am thrilled they essentially “beat the market” on this turn key property.
– 4 Oakhurst Rd | San Rafael | SOLD $1,705,000 [theFrontSteps]