Name: Tom Capallo, owner, North American Forge, a steel company
The home: A four-bedroom, three-bath home built in 1944.
Where: Atlanta’s Virginia-Highland neighborhood
Why he sold: Capallo owned the home for seven years, but wanted to purchase a home in Atlanta with more space. “I was pretty optimistic,” he said. “It was kind of a shot in the dark type situation where specifically in my neighborhood … the market had gotten where it was kind of booming.” The home was for sale by owner.
Time on market: three days
Original price: $450,000
Sale price: $465,000
What it took: Having the interiors look like a “designer bungalow in the city,” Capallo said. His girlfriend, Jessica Duncan, an interior designer, made changes such as adding lighting and placing the furniture in a way that more effectively used the space in the nearly 1,700-square-foot home. “When I was living here as a single guy, you’d come into my house and you would see it as exactly what it is, which is a small house in Virginia-Highland that’s 70 years old,” he said. “But now with the touches that Jessica did with lighting and some paint colors in the kitchen … you walk in and it feels somewhat modern. The house feels like it has some big areas and it feels like it has some really intimate areas.”
Capallo also had added a bathroom about five years ago and updated the kitchen. “I think people came in and literally just were blown away by the condition of the house and the price point,” he said.
Capallo received an offer within 12 hours of putting a “for sale by owner” sign in the yard. Within two days, he received four offers. One of them was an investor who drove up the price, but the offer included a due diligence period longer than Capallo wanted. The buyer ended up being a neighbor who wanted to downsize (they closed in mid-September). “She said, ‘I love the place.’ I like the idea that someone is moving to the house who appreciates it,” he said.
Potential stumbling block: Selling a home without an agent can put homeowners in an awkward position when potential buyers stop by. He was prepared to answer questions about renovations, the furniture and the approximate square footage. “I didn’t put any type of hard sell on people. I kind of let the house speak for itself,” Capallo said. “I welcomed them in and pointed them to where all the rooms were and told them they were welcome to stay and walk around for a while. I’d sit on the front porch and wait for them to be done.”
Seller’s hint: With smaller homes, using lighting and placing furniture strategically can help make the home seem larger than reality, Capallo said. He adds: Try to show potential buyers a lifestyle when they step foot into their potential new home.
