Abrams Residential Bethesda Concierge Case Study

4 Wynkoop Court

A CONCIERGE SUCCESS STORY

Compass Concierge

The housing market is more competitive than ever, with most buyers looking for nearly turn-key properties. It is up to us agents to get your home market-ready, while still maximizing the return on your lifelong investment.

Compass Concierge is the hassle-free way to transform your home with zero upfront costs or interest. With Concierge, you do not have to pay the initial out-of-pocket costs for home improvement services like painting, staging, flooring and more. When your home sells, simply pay back the costs of the services provided.

4 Wynkoop Court

CASE STUDY

Background

Originally built in 1965 by award winning architect, Eason Cross, this mid-century modern home had been owned by the current owner for 35 years. While architecturally stunning, the home had been updated with different styles over the decades of ownership which had caused it to lose some of its mid-century modern appeal. It also had some deferred maintenance on the exterior that needed to be addressed before going to market.

After our initial consultation and a walkthrough with our preferred designer/stager, we developed a market analysis of both “as-is” condition value and a range of values that we were confident the home could attain with a nearly complete cosmetic renovation. Our pre-listing market preparation budget, financed through Compass Concierge, was $45,000.

Projected Results

Original “as-is” value projection +/-$950,000
Compass Concierge Budget: $45,000
Seller Upfront Expense: $0
Initial Post Renovation Estimated Value: $1,100,000-$1,150,000

Scope of Work

INTERIOR

Flooring: Replace original parquet floor in the kitchen with engineered hardwoods matching the existing wood type in the rest of the home. Remove all carpeting in the home and refinish all floors for a uniform modern look
Paint: Repaint the entire interior with a designer white to brighten the space and complement the new flooring stain color
Kitchen: New subway tile backsplash with mid-century modern design
Baths: Replace dated plate glass mirrors and lighting with designer mirrors and sconces
Lighting: New mid-century modern lighting throughout
Layout: We repurposed an existing closet to now function as a home office to create added value with a more functional floorplan
Window Treatments: Removed all dated window treatments to increase light and take advantage of the woodland setting of the property
Staging: We staged the entire main floor, addition, Owner’s suite and newly created home office

EXTERIOR

Paint: Repaired and repainted all exterior wood trim with a mid-century modern color scheme
Windows: Replaced a failed skylight
Hardscaping: Powerwashed all the exterior patios to reinvigorate the appearance of the flagstone
Landscaping: Refreshed with full clean up, tree trimming and re-mulched planting beds

Owner Testimonial

“If anybody asks me if I could recommend a Real Estate Agent, I would tell them without hesitation: David and Claire Abrams of Abrams Residential at Compass. I had lived in my house in Bethesda, a close-in, older three-bedroom for 35 years, and it was badly in need of a face lift. From the minute I gave the go-ahead, David was a whirlwind. He proceeded to get bids from reliable contractors he had worked with before, visited the property daily to check up on the progress of the work, and went to enormous lengths to stay within the budget- which was all financed by Compass Concierge at no upfront cost to me! You’d think I was their only client for all the time and energy he expended on the makeover process.”

“When the work was completed and the marketing materials were created, our home looked straight out of Architectural Digest... and the market clearly agreed it was indeed something special. We received 20 offers, 15 of them for over a million dollars. Ultimately, David helped us negotiate a non-contingent deal for $1.2MM with lovely buyers. This was extraordinarygiven the comparables in my neighborhood before we agreed to trust Abrams Residential and the Compass Concierge Program with our listing were in the low $900,000 range and our entire market preparation budget was $45,000. I was absolutely amazed but David had the vision to turn our home into a mid-century modern dream house.

So if you’re looking for a hard-working, knowledgeable, innovative dynamo, who’s also very nice, I can’t recommend David and Claire Abrams and Abrams Residential at Compass highly enough.”

The Results

Number of Showings: 115 private agent showings
Days on Market: 7 Days
Number of Offers: 20
Final Sales Price: $1,200,000 with no contingencies
Estimated Return on Investment for Compass Concierge: 4X