This Bergen County home sold for $225K over asking price. See where


What’s more important for you in your home search: finding a good location, or finding a home that’s fully updated?

For one home in Wyckoff, the location landed the sellers an offer $225,000 higher than their original asking price, even though the property is not one of the newest on the market.

The five-bedroom, three-bathroom Dutch Colonial home at 335 Allison Way is situated on a 0.57-acre lot in the Carriage Lane section of Wyckoff. The home offers 3,863 square feet of living space and comes with a finished basement, a two-car garage, a deck and a walk-out backyard. Originally listed for $999,999, the home sold for $1.225 million on Jan. 8.

“It was an estate, the sellers were siblings and it was their parents’ home that they grew up in,” said Frances Hanson Ekblom of Compass Real Estate in Ridgewood, who is the listing agent for the property. “I think if we got $1 million we’d be good, but we hoped we’d get more, and that was sort of our attitude. I was trying to go on the market feeling more than likely we’d get more, but the market would tell us how much more.”

When preparing the home to go on the market, Ekblom said, the owners made very few updates. Besides removing old carpeting and adding a fresh coast of paint to the first floor, she said, all they really did was have the home professionally cleaned.

Choosing to do this, rather than renovating the whole property, she said, not only helped keep the price lower to give more potential buyers an opportunity, but also left the home as-is, so the next owner could customize it for themselves.

“My goal was to make it an open, clean canvas and let the buyers see how they’d like to color it with their own style,” she said. “I think people have to have a good sense that you can’t have everything, and that if you want a spanking-new 2024 kitchen right away, then this isn’t going to be the house for you.”

The property was officially listed for sale at the end of October, but Ekblom said showings didn’t begin until the weekend of Nov. 25. With more than 40 showings across two days, she said, they started receiving offers within an hour of the first showing.

One of those offers came from the clients of Megan Fox and Theresa Ehrline, agents with Compass Real Estate in Ridgewood. Fox said that between the home’s prominent location in Wyckoff and the fact that it hadn’t been customized for someone else’s lifestyle, her clients were more than willing to offer more for the house.

She said the home on Allison Way ended up being the only property to get an offer from their clients. Although they had looked at a variety of different homes, Fox said, there was nothing that really piqued their interest. But as soon as they saw this one, she said, they had a vision for its potential.

“They felt like, and we felt like, this house was a diamond in the rough, because, yes, it has to be renovated, but it’s in an excellent neighborhood and the bones are all there,” Fox said. “To get into that neighborhood, for a house that’s completely done, you would have to pay a lot more. But the nice thing with this is that they can make the house their own. They’re not buying into what someone else has chosen or paying a premium for someone else’s choices.”

Fox said other offers made on the home were similar to theirs price-wise, but they chose to include other terms in their offer that would help make it more appealing to the sellers, including a quick closing date. Because the home was an estate and the sellers wanted to move quickly, that helped them secure the property, she said.

“I feel strongly that you need a good buyer’s agent to look out for you and that will have you prepared so that when the time comes, you can move quickly,” Ekblom said, “having your ducks in a row and understanding what the necessary steps are to beat the competition, because it isn’t just about the number.”

Maddie McGay is the real estate reporter for NorthJersey.com and The Record, covering all things worth celebrating about living in North Jersey. Find her on Instagram @maddiemcgay, on X @maddiemcgayy, and sign up for her North Jersey Living newsletter. Do you have a tip, trend or terrific house she should know about? Email her at MMcGay@gannett.



This article was originally published by a www.northjersey.com . Read the Original article here. .