Lot for Sale in Elk Grove at 9368 Kaanapali Closed Escrow
Although we had sold this lot for sale in Elk Grove to our client, for some reason, the client initially listed the lot with an agent who was a friend of the family. I think the agent worked for a builder, but I don’t really recall. All I know is she had it on the market for almost 4 months and no bites. So the seller finally called me and asked if I would take a lot for sale in Elk Grove and sell it for her.
Sure. Just because I rarely sell lots is no reason not to take the listing. The principle of selling is the same. I have great marketing tools. First I pulled up a list of all of the lots that are for sale in Elk Grove and the sold lots. Not just the lots within a 1/2 mile, but every lot for sale in Elk Grove. Those are some long days on market, let me tell you. Which means the market is softer than residential.
I prepared the seller for a longer than usual wait. Managing expectations is part of my job. It’s not like I can send updates on showings because there is no lockbox to tell me when an agent is with a buyer at the property. So I sent market updates instead, just to stay in touch. One thing I never want is for a seller to think I am not doing anything.
Once the sign post order went out, it was a bit tedious to get the sign placed in the right spot. I sent maps but I’m not sure they used them. Once we found the designated place, the HOA started calling me to complain. See, this particular lot for sale in Elk Grove was located in a homeowner’s association but it was not part of the HOA. It enjoyed the private road, the gated entry and paid no dues for it. It was one of a few lots like this where people are building million-dollar homes.
The HOA did not realize this lot was not located within its jurisdiction. Once I pointed that out, they shut up about the sign placement. Then, there was a fire. I know, right? How can a single flat piece of land be such trouble? Fortunately, the fire did not burn down my for sale sign nor cause much harm to this particular lot.
Another incident: my photographer went out to shoot photos and came back with ho-hum pictures. This was not like him. I had asked for photos of the entrance and the guy was so overwhelmed that day, he forgot. So, as a favor to me, and maybe because I give him tons of business, he returned to the scene and reshot the photos in late afternoon. That time of day in winter when the sun hanging low in the sky warms all that it touches with a special glow. Glamorous, gorgeous shots, like the one above. Photos are #1, utmost importance.
Shortly after we went on the market, we received a lowball offer from an LLC, which owns other lots in Elk Grove and in that subdivision. The buyer simply would not step up to make the offer she needed to make to buy this lot. Low and behold, another buyer came long and we reached an agreement, locking out the first buyer. In fact, the first buyer had written several offers. The second offer a month later. None of which was acceptable. And I think she really wanted to buy this one-acre lot. She just went about it the wrong way.
In the overall scheme of things, a buyer should never let a few thousand dollars stand between her and the property she desires. Ownership is everything. Wishing for it is nothing.
We closed escrow the first week in January at $278,500. Fewer than 60 days to sell this lot in Elk Grove. In a market where selling a lot can take a year or more.