If a home is lingering on the market, one of the first strategies a Realtor will employ is the “price improvement.” It’s not a bad idea, as conventional wisdom says that if a home hasn’t sold, it’s a combination of some other factor and it lacking a price to match its desirability.
But in some cases, sellers throw down the cash to do something pretty smart: remodel.
The key to a successful remodel for homes above a certain age is knowing when to stop, and the sellers of 4530 Fairway did a stellar job of improving all the right things since this four-bedroom, four-and-a-half-bath home in the West Park area of Highland Park was on the market in 2014 for $1.85 million.
Since that time, it’s received quite a few updates, including a new attached two-car garage with standing-seam metal roof, a new wall of sliding glass doors off the dining area to connect the indoor spaces to the outdoors — perfect for entertaining — extending the hardwood floors to the kitchen and family room in place of the previous terra cotta tile, and beautiful white paint on the cabinetry in the kitchen, all topped with delicious Carrera marble. The backsplash tile, which was left from a 2007 remodel, I believe, is still perfectly in style and adds just the right pop of color to complement the large built-in hutch and the all-white cabinetry.
Listing agent Susan Mooney with Dave Perry-Miller Real Estate has listed this 3,810-square-foot home for $1.75 million — a great price for the location. Mooney calls this 1936-built home a California Mediterranean, but it definitely gives off a Dilbeck vibe, with the arched front entry, terra cotta tile roof, screened porch, and street-facing balcony. The turquoise windows and trim are another wonderful touch to the aesthetic.
While there is a bedroom on the first floor, the true master is on the second. It clocks in at 14 by 16 feet and has a separate reading nook, a fireplace, exercise room, access to the balcony, and a custom walk-in closet. I love that there are enough windows to bring in plenty of light, but thanks to the mature trees, it remains a shady, private room. It also connects to a larger living area, making it feel more like a truly private retreat.
Suitable for a family, the backyard is open and grassy. But if you’re ambitious and your plans for your perfect home include a pool, the lot could probably accommodate one. Still, this home is just a wonderful example of how you can make the most of a listing without the seemingly unending parade of demoralizing price reductions that many luxury properties get. I hope this one finds the right buyer quickly!