This was a challenging probate listing taken in Pasadena’s Brigden Ranch. Since her reputation precedes her, Ashley was the only “out of area agent” invited to interview for the listing. The attorney told her he had received valuations from other agents that hovered around $400k. But Ashley delivered a presentation that SHOCKED the law firm, and they hired her on the spot. Her last words to them that day were, “…I’m listing this property for just under $1m.”
For some perspective, the the property did not look like the photo here. Instead, the home was infested with rats, trash to the ceiling, holes in the ceilings, racoons in the main living area, broken toilets, and a semi- drained swimming pool with a foreign type of ecosystem growing in it. The late homeowner was a hoarder who never even turned on the utilities for several months.
After clearing the trash, she put the black hole (for lack of better words) up for sale… vacant, dirty, dated and un-staged.
Local agents brought their buyers, and the feedback was consistent… “…you’re overpriced! …this is a teardown! …this won’t sell for more than land value!” She even received offers for less than $400k, all of which were rejected.
She knew the right buyer would discover what made this property special, and it meant so much to her to find the right person who deserved this property.
And she did… she sold the property for $900k to a buyer who collected mid-century modern properties across the country. Lucky for him, he did his due diligence and realized the list price was actually a STEAL for the property he was about to purchase. The property was one of a few properties recorded with the City of Pasadena with historical value and significance – in other words the property was protected from being torn down or having any alterations made to the structural design.
It once hosted Hollywood celebrities and was featured in several motion pictures. It was custom built by world renowned architects Marsh, Smith, and Powell (1951). No other realtor except Ashley even realized that because they didn’t research and review the property history and public records.
The property has received the TLC it deserves from its new owner, with about $180k in upgrades. It recently re-sold for $1.7M. What an amazing return on investment!
Here is a picture of the diamond in the rough today.