Not every home needs to be fully updated or move-in ready to get a great result.
That was the case with our recent sale at in Newark’s Lake neighborhood. Located on a quiet cul-de-sac, this 3-bedroom, 2-bathroom single-story home offered approximately 1,407 square feet of living space on a 7,062-square-foot lot.
The home had plenty of potential, but it also needed updating. Rather than putting significant money into renovations before selling, our focus was on preparing the property properly, giving buyers as much information as possible and creating competition once we hit the market.
The result: 13 offers, 7 days on the market and a final sale price of $1,239,998, roughly $140,000 over asking.
The Property
Built in 1970, the home had a great foundation to work with: a single-story floor plan, generous lot and a quiet cul-de-sac location in one of Newark’s most established neighborhoods.
It was also within walking distance of The Lake and Lakeshore Park, with convenient access to Ardenwood Historic Farm, Coyote Hills Regional Park, the Dumbarton Bridge, 880, 680, BART and Silicon Valley shuttles.
The opportunity was there. Our job was to make sure buyers could see it and feel comfortable competing for it.
Our Strategy
When a home needs work, one of the biggest concerns for buyers is uncertainty.
They want to know what they are getting into, what issues may come up and how much additional work the property might need after closing.
Before going on the market, we ordered a full set of inspections, including home, pest and roof. This allowed buyers to review the condition of the property upfront rather than trying to figure everything out after submitting an offer.
It also gave us an opportunity to address questions early and helped buyers make stronger, more informed offers.
Why The Seller Didn't Take a Pre-Market Offer
Even before officially hitting the market, we had buyers interested in the property and received pre-market offers.
For a seller, it can be tempting to take a strong offer before going through the entire listing process. But our goal was to make sure we had fully exposed the home to the market before making that decision.
We listed the property at $1,099,900, opened it up for showings and set a firm offer deadline.
That gave more buyers an opportunity to see the home and, more importantly, created competition.
By the offer deadline, we had received 13 offers.
The Results
- Listed: September 3 at $1,099,900
- In contract: September 10
- Days on market: 7
- Offers received: 13
- Closed: September 17 at $1,239,998
- Over asking: $140,098, or approximately 12.7%
For a home that needed updating, it was a great example of how the right preparation, pricing and listing strategy can make a significant difference.
What This Means for Newark Sellers
One of the biggest questions we hear from homeowners with an older or dated property is whether they need to renovate before selling.
The answer is not always yes.
Sometimes improvements make sense. Other times, the better strategy is to sell the home in its current condition while making sure buyers have the information they need to understand the property and its potential.
With this home, we focused on three things: completing inspections upfront, pricing the property to attract attention and giving the market enough time to create competition rather than accepting an early offer.
That strategy ultimately produced 13 offers and a sale price approximately $140,000 above asking.
Every property is different, which is why we look at the condition of the home, neighborhood, current competition and likely buyer pool before recommending how much work a seller should take on.
If you are thinking about selling a home in Newark, Fremont or Union City and aren't sure whether you should renovate, make a few strategic improvements or sell it as-is, reach out to the Belliveau Realty Group. We can walk through the property with you and help determine the strategy that makes the most sense before you spend money on work you may not need.
