250 S Reynolds St #1307 | Templeton of Alexandria

Property Overview

Listing your property for sale can be a stressful experience. Listing your property for sale, having it sit on the market for 125 days and eventually pulling your property off the market because it did not sell is even more stressful.

The owners listed their property. Their condo had interest from buyers. They even had accepted an offer.

But the owners were not able to get across the finish line.

The owners eventually pulled their property off the market in the fall season and planned to list their property again in the new year (2020).

The owners received my contact information from another owner in the building who used me to sell their two-story condo.

After speaking with two other brokers, the owners decided to move forward with my services.

We had work to do prior to listing the condo for sale:

• The condo featured a huge balcony with a fantastic view over Alexandria. Unfortunately, the grill was obstructing the view. The first thing we did was move the grill from a spot adjacent to the balcony to a spot against the side of the balcony. That way, the grill was out of the way and all the focus was on the view.
• After re-arranging the outdoor items, we turned our focus inside. The condo showed well, but there was room for improvement. The living area was large, however, the furniture did not flow well with the floor plan. We re-arranged the living room furniture so that the room would feel more natural.
• The furniture in the three bedrooms might as well have been straight out of Goldilocks and the Three Bears. One room had too little furniture, one room had too much furniture, and the owner’s suite had just the right amount of furniture. We deconstructed the bunk beds in the third bedroom, kept the small bed in that room, and moved the larger bed to the previously-empty second bedroom. Now all three bedrooms had staged furniture.
• The property was then cleaned by our professional cleaning crew prior to going on the market.

Online Marketing

We published the property tour video on Facebook and the video reached over 18,000 people in the Alexandria area.

More than 1,000 people watched the video on Instagram.

Over 1,800 viewers saw the video on YouTube.

Over 21,000 people saw the property tour video on social media.

Results

Unfortunately, this property did not sell in the first weekend.

And it did not sell in the first week.

Nor did it sell in the first month.

But we were looking to do something unprecedented.

The average price-per-square-foot in Templeton of Alexandria is about $175/square foot. We listed the property at $221/square foot.

This was not a standard condo. We were selling the best condo in the entire community.

We ended up receiving multiple offers and the property closed at $445,000. The sales price and final price-per-square-foot of $205/square foot are both the highest numbers ever recorded for three-bedroom condos at Templeton of Alexandria.

The property was on the market for 63 days before the sellers agreed to move forward with the winning offer.

While it was not our standard closing timeframe, the property represented something that the community and market had never seen before. Setting a new record and providing a community like Templeton of Alexandria with a high comparable property for future sales is always a desired outcome.