We're thrilled to share the success story of our recent listing at 8669 Red Clover Way in Elk Grove, CA! This REO property presented a unique challenge as the asset manager and bank were facing losses with the existing offer back in December. Determined to turn the tide, our team proposed a strategic plan: some light remodeling to enhance the home's desirability, coupled with an innovative marketing plan to attract buyers.
The transformation began with a series of minor upgrades orchestrated by our team, including interior and exterior paint, landscaping, new flooring, cabinet updates, and high-end appliance installations. These improvements brought a fresh look to the property, making it more appealing to the masses! With the property remodeled and ready for market, we listed it on the bidding platform USA Homebids for an 11-day period, starting at a competitive price of $349,000. The response was overwhelming, with buyers recognizing the value and potential of the lovely home.
Our marketing efforts played a crucial role in generating interest and driving bids. During the 11-day listing period, the property emerged as the hottest listing in Sacramento County on Zillow, a testament to the attention grabbed from eager buyers. In the final week, we ran a targeted social media ad campaign featuring a video virtual tour of the property. The results were remarkable: the ad reached over 21,000 local buyers, with over 5,000 watching the tour. This surge in engagement resulted in 113 bid offers from 23 approved buyers.
Ultimately, the property sold for a remarkable $721,000, exceeding expectations and securing a better outcome for our lender client. This successful sale displays the power of our team's strategic approach to maximizing property value and attracting qualified buyers.
We're grateful for the opportunity to assist our clients in achieving their goals. If you're considering selling your property or looking for expert real estate guidance, we're here to help. Reach out to us today to learn more about our services and how we can assist you in achieving your real estate objectives!
If you'd like to see the final product of the remodel, check out the video below!