Curveballs Almost Took Out This Client’s Dream Home Renovation
A few years back, I helped Jenny and Pat McGuinness get through the thorny process of buying a Mid-Century Modern diva that required a total renovation, and sell their Lakeview cottage that was suddenly too small for their growing family. The story starts post-Hurricane Katrina, when Jenny was single and rebuilding her home in Lakeview. She’d always adored Mid-Century Modern architecture, but felt obligated to recreate what was there before Katrina. I helped her sell the downtown condo she lived in while rebuilding, and she moved into her new home that was perfectly suited for one. A few years later, she added a husband to the mix, as well as two stepchildren. And on the heels of that, two more children, two dogs, and all the strollers, bikes, swing sets and toys that accompany them. Soon enough, that cute Lakeview cottage couldn’t handle the crazy, busy life of a family that big. They loved the house, but it wasn’t right for them anymore. Knowing that Jenny was still secretly enamored with Mid-Century Modern homes, I found one at the Lakefront before it hit the market and had Jenny check it out. Built in 1961 by Saputo & Rowe, the house was untouched and hadn’t been updated at all. After seeing it, she told Pat, “It’s a HUGE project, but somebody’s going to make it really cool.” Pat was intrigued and went to see it for himself. They were attracted to the idea of what it could be, but the price was high and they had trouble getting past the “we’re not even house-shopping yet” mentality. They decided not to pursue it, but I kept running into Jenny at restaurants and Saints games, and each time, we’d talk about the house – and I think Jenny took that as a sign. I suggested that they make an offer at a price that worked for them, and fortunately, after a little back and forth, their offer was accepted. From roof damage to complicated A/C issues, there were so many problems and eccentricities found during the inspection process, that I sourced all the experts they needed to assess the situation as best as possible. From a contractor, an architect, and a roofing guy, to a brick guy and someone who specializes in the particular kind of windows the house featured – all consulted and offered valuable insight. Unfortunately, it was going to take a considerable amount of money to fix all the house’s issues. As Jenny reflects back on it now, “We wondered, is this even going to work? Will the structure of the house actually let us do what we want to do? It was nerve racking, but we got as much good information as we could without actually owning the house.” They decided to ask the seller for an allowance to cover the problems, but they were turned down. Dejected, but with my urging, Jenny wrote a sincere letter to the seller explaining they just couldn’t make it work at their original offer price. The next morning, the seller had a change of heart and accepted their lower price. “We had let the house go again, and it came back to us. Again.” In order to live in their current house while renovating the other, they carried two mortgages and efficiently renovated the new house from top to bottom in less than five months. When it was close to being finished, I listed and sold their Lakeview cottage, and they moved into their dream home. There were hiccups along the way, but I appreciate that Jenny had this to say: “Whatever curveball came up, Tracey always figured out a way to get around it. She and I had so many conversations about every little thing. I was anxious about the whole process, but she’s calm, assertive, direct and quick to act. She never lets anything sit. She expertly helped us navigate this complicated purchase that involved several hurdles, as well as the sale of our own home, which also had some challenges. She’s extremely responsive and always puts the interests of her clients above her own.” Jenny continues, “I think people sometimes don’t realize when you’re buying and selling real estate that there are challenges that come up, that you really need someone experienced to help you navigate them. If you don’t, you’re either going to make a mistake, or a deal is going to fall through because you don’t know how to get past it. The purchase of this house should have fallen through like 10 times!” And of course, I did everything I could to make sure it didn’t. Jenny and Pat did an amazing job on their renovation, staying true to the original style while making it their own. Check out the photos below – before, during and after their renovation! Before: During: After:
The Projects to Tackle Before Selling Your Home
Wondering what kind of updates you need to make before putting your house on the market? What’s most important is fixing what’s broken, loose, discolored, or dirty and making small updates here and there. In fact, before taking on the expense of an upgrade or renovation, make sure you’ll be able to get the return on your investment. By analyzing comparable properties (also called “comps”) and sales data for your neighborhood, we can determine the best list price for your home in the current market, and you’ll be in a better position to decide if that renovation you’re contemplating is worth the money. There are certain things I always recommend before putting a house on the market, and others are worth considering based on your individual situation. Here are some of my tips: Cleaning windows (on the outside and inside) is a must. And make sure your gutters are clear – especially in the fall. I once showed a home while it was raining, and the potential buyers could see that the gutters were too full to do their job. It’s an easy thing to overlook, but it’s a good example of why the details matter. Repair or replace the loose or broken things you’re used to seeing and don’t even notice anymore. Walk through your home with a critical eye – those are the things a potential buyer notices right away. Make sure a front gate is working smoothly, tighten loose doorknobs and fixtures, replace light bulbs, and repair any screens that are torn. Re-caulk a tub or sink that needs it, which prevents leaks and makes everything look cleaner. It also helps to scrub the tile grout or re-grout, if it’s discolored or dirty. Refinishing a tub makes it look like new! In other words, your house can’t be too clean or too fresh. If you have wood cabinets that feel dated, give them a new coat of paint and add stylish hardware for a fresh, contemporary look. Consider replacing countertops with one of the many affordable good-looking surfaces available today. In a day and age when kitchens are important and make a big first impression, these kinds of updates go a long way towards sprucing up a kitchen. Good lighting is important to buyers. If a room is dark, add recessed can lights, under cabinet lighting, bedside lamps, table lamps or floor lamps. High on the list of what buyers are looking for is a main bedroom suite – which usually includes a walk-in closet and a nice-sized, en suite bathroom with double sinks, updated countertops and fixtures. But before you take on a big bathroom renovation, you might consider simply updating your current bath with a new vanity, mirror, hardware, medicine cabinet, and fixtures. Again, it depends on the comps in your neighborhood. If you want to get creative, save it for a laundry room or half bath. You might add fun wallpaper or a patterned tile floor to brighten things up. Or go for brushed gold hardware and fixtures, as opposed to more mainstream stainless or polished nickel. If you’re thinking about selling, buying, or investing, I’m with you! Reach out and let’s talk.
Creative Vision + Good Advice = A Successful Flip
I met Brian Bain about 25 years ago, and several years later, went on to learn the ins and outs of the real estate business from his father-in-law, Louie Velez. Since that time, I’ve helped Brian and his wife Julie (one of my oldest, dearest friends) buy their first home in Lakeview, sell a renovation/flip Uptown, buy and sell their second home near the Freret St. Corridor, and buy another home Uptown. Along the way, I also worked with Brian and his business partner Jake Springfield to buy their Mid-City office building on Tulane Avenue. Throughout those 20-something years, Brian and I, in some form or fashion, have been Saints season ticket holders together. With a twinkle in his eye, Brian calls me “a die hard fan who literally never gives up. And a great person to have on your team.” Most recently, I was Brian and Jake’s agent and source of advice for design trends, finishes, and functionality as they bought, renovated, and sold a down-to-the-studs, double shotgun to single camelback investment property at 5508 Annunciation Street. While Brian and Jake co-own a TV commercial & film production company, they’ve each completed renovations and flips individually and together, with their own homes and other projects. Brian sums it up this way: “When we bought our building on Tulane Avenue and renovated it to be our new film production offices, we had an awesome team of folks and a great experience. Doing a renovation is in many ways similar to film production – at its core, it’s a creative endeavor, bringing into action many of the same processes — like planning, scheduling, organization, team work, and a creative vision. Fortunately, we have amazing teams working with us in both construction and in film production. So when the opportunity arose to do this renovation as a flip, we were excited to jump on it — knowing that we could manage it while running the day to day business of our production company.” I worked with Brian and Jake when they bought the property, as the listing agent to sell it, and consulted throughout the entire renovation process. Check out some quotes from Brian and Jake about what it’s like to work with me. “Tracey’s a straight shooter who’s tenacious and always makes herself available. If she doesn’t know the answer to a question, she’s going to find it.” Brian Bain “Should we go with a tankless water heater? Do we need to install handrails on the front porch? What color stain should we use on the floors? These were just a few of the questions we threw at Tracey. She knows what’s out there, what’s selling, what buyers are looking for, and the quirky little things that can trip them up. She’s been checking on our progress and making suggestions throughout. And that’s been tremendously valuable.” Jake Springfield Get a step-by-step snapshot of their renovation:
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