Names: Tom and Donna Preston
The home: A three-bedroom, two-bath home built in 2002
Where: Rutledge
Why they sold: The Prestons bought the Morgan County home for $225,000 at the top of the market in 2006. After Tom was laid off from his corporate job two-and-a-half years ago and started working part time, they had to dig into their savings to pay their mortgage. "The savings were going out the door," Tom said. They wanted to downsize and find a more affordable mortgage.
Carole Queen of Keller Williams Realty Atlanta Partners put their home on the market in January 2015. “At the time, we said, ‘Carole, we’ve got some money in savings. If the house comes up in the right subdivision in the right town, if it’s brick and one level, we’re going to buy it,’” Tom said. Two weeks later, a house in Monroe popped up that fit their needs and price range, although the 1958 home needed renovations. They closed on the Monroe home in February, but didn’t move in until they closed on the sale of their Rutledge home in mid-March.
Time on market: 38 days
Original price: $215,000
Sale price: $205,000
What it took
In fall 2014, they started cleaning the house and disposing of items, from small items such as crystal pitchers to a playground set, they didn’t want to move. They gave things to children and charitable organizations, and sold a few items.
Tom also credits their agent for giving them practical advice and a model to follow as they prepared the home to be listed. They pressure washed the home and repainted a room. They also had a boat that they removed from their yard.
To market the home, Queen used a virtual tour and newsletters, among other materials. The home also had an in-ground saltwater pool, screened porch and garden. The listing got attention, as the home showed 10 times.
Potential stumbling block
The inspection was so detailed that it listed about 60 items that would need to be repaired. “We were willing to repair all of them,” Tom said. The buyers asked that about 10 repairs be made to places such as the gutters, water heater and roof. They agreed to those changes, getting help from their son, neighbors and friends from church.
Seller’s hint
“We were motivated sellers. You’ve got to be a motivated seller; you’ve got to find a motivated buyer,” said Preston, who now works for a pharmaceutical company. “We found someone on the other end that was relocating to our area.”
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