725 Jacon: a Pacific Palisades Sale Story

March 22, 2022

Investment Strategy

When I first drove up to 725 Jacon Way I was THRILLED. Even from the curb, I could tell that this was a home that real estate agents DREAM of representing. Curb appeal, great street with ocean views, lovely proximity to Marquez shops and the famed Marquez Elementary. GUYS, this was a good one.

Like so many of us, the owners were wrestling with options presented by the pandemic. This work remote opportunity opened many doors (literally) for buyers who felt like a change of scenery. The owners loved their neighborhood, HAD to be close to the beach in some way, and enjoyed friendships with their neighbors but a change of pace was calling.

The sellers are seasoned real estate buyers who have won big in past sales they’ve transformed and wow that pays. off. They have confidence and great taste - so when they had bought this house she was a FIXER. They poured tons of savings into transforming this Mid-Century Charles DuBois Architectural and self-designed a home that felt contemporary and today but still had the Mod allure. WOW they just get it.

Here is where I pause to give you unsolicited advice: if you have vision, and some extra cash do what these geniuses did! Buy something that needs TLC and make it amazing. When home flippers sell a house they are getting in and out so they need to make a higher margin in a quicker amount of time, but if you’re an owner-user you’ll likely want to stick around for 2 years while the market appreciates, you complete your project, and then you can take advantage of the primary residence tax exemption which is a huge tool in gaining wealth.

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Anyway back to the story! So the sellers T+K ultimately were open to a sale but were still very emotionally attached to this home and not sure they were ready to leave. After exploring options we decided to do a short-term lease while they went out of town and had time to think. We found a fabulous tenant who had just sold her house right around the corner from another house I was selling, 214 5th Ave in Venice, and also just wanted a landing pad to consider her next steps…the joy of figuring things out during Covid!

To be clear 725 Jacon was not even on the market, however, agents who had viewed the property knew that the sellers were open to a sale in the near future, and in this market, they did not waste the opportunity to write us offers despite us….not being listed for sale! The short-term tenant was still in place when we got multiple purchase offers! Here’s where I’ll again give you advice: get an agent. Do not be one of those unrepresented buyers that tries to negotiate with the listing agent directly. I can list 100 reasons why this is a bad idea - really I can - but for the purposes of this story what I will say is no buyers would have known about the sellers being even open to an offer. Agents are in the field every day and we are boots on the ground!

Ultimately, the sellers were able to select an offer that had terms that worked for them - an extremely strong price, with a well-qualified buyer, aggressive terms, and a leaseback as they were still out of town when the actual sale occurred, and needed time to move. This is how the magic happens people! The magic takes a lot of hard work from bold individuals investing in fixers, making smart, area-specific design choices, hiring agents who love their property and represent it with passion and work night and day to negotiate a deal that works for all parties. It was a pleasure - an absolute pleasure to represent 725 Jacon. Cheers to T+K who are on to their next chapter, thank you for partnering with me on this sale - I loved your home!

 


Work With Stormie

Stormie brings an analytical and quantitative lens to her core real estate markets on the Westside of Los Angeles. Working in a high-profile environment, often with private clientele, has poised Stormie to handle each transaction with discretion, and expert negotiation tactics.

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