In older Mesa neighborhoods, many properties could be considered “diamonds in the rough.” For one particular property, the neighborhood built was from 1983-1988. Although the home boasted an excellent location with easy access to downtown phoenix, local freeways, and lots of amenities, the property also came with everything popular from the ‘80s – vinyl flooring, brass fixtures, Formica counters, and oak cabinets. Sales in the neighborhood over the previous six months reflected the outdatedness with unimproved homes being sold at $100,000, $110,000, $113,000 and $120,000.
One of our owners decided break the mold and improve a home in this area with new paint, granite counter tops in the kitchen, tile, and carpet floors. I worked with the home owner to help select colors, materials, and contractors. The result: the home sold for $133,000. The sale netted the owner $13,000 and $17,000 more than the highest unimproved sales. When you compare to the lower sales in the area the home owner did even better! It just goes to show that refreshing and rejuvenating an older, out-of-date home can do wonders when it comes to not only selling but increasing your profits.