Highest Foreclosure Sale a Landmark Achievement
When we have CNN and other media outlets calling us about large properties or high sales, it’s safe to assume that we have a newsworthy event on our hands. This happened recently with Steve DeVré and the DeVré International Team from our Monarch Beach office, who represented the seller of the highest foreclosure on record in Orange County.
Though it was no surprise to hear that Steve DeVré’s sale had attracted a lot of attention, there were a number of factors surrounding the transaction that had a few of us caught off guard. For one thing, properties that take a long time to sell, with a listing price over the $5 million range or so, typically don’t return to the market as foreclosures.
Secondly, the fact that this home was only on the market for a relatively short amount of time was a little surprising to us. Then Steve let us know about some of the time and effort he put into getting the property ready for sale.
Of course a property valued at $5 million or more has to be in good shape before it enters the market. That isn’t really news to anyone, but Steve really went above and beyond to present this property in the most attractive light possible.
What’s interesting is that Steve was able to accomplish his goal by applying some simple fixes, without overdoing anything. Yes, he spent countless hours and funds cleaning and fixing and landscaping. Making sure the wine grotto was presentable, cleaning algae out of the pool and getting rid of dead plants, but nothing over the top. Since the main entry is critical to making a good impression, and it has a number of beautiful murals, this was
an important concern. What Steve did in this case was to make sure that the murals were
illuminated instead of just having the light fixtures missing and wires hanging from the ceiling.
Steve and all of us here at Prudential realize that a property has to shine in order to bring
about an optimal result for the transaction. This is one thing that we teach all of our
agents, whether it’s a home with 1,000 square feet or 10,000 square feet.
Based on the job that The DeVré International Team did, they now have large institutions
calling them to help with properties that may be coming to the upper end of the market.
Steve knows who to contact to get the job done quickly and efficiently at the best cost
and the best service. Steve has a strong belief in doing things right the first time and
communicating constantly so his clients aren’t left wondering about what is happening with such a big asset.
The property that Steve represented was the highest foreclosure to date in Orange County, but more are in the works. Stay tuned.
Patti Brotherton is a 35-year industry veteran, former top
producing agent and renowned business coach. Every month she shares her take
on current market conditions and future
trends, as well as useful tips and proven strategies for success.
Patti Brotherton Regional Vice President Orange County
