Royal Oak Real Estate Market Update: Royal Oak Bungalow Smashes Price per Square Foot Record
By: Sara E. Teller
Royal Oak Real Estate Market
It took Darrin Roberts of Jim Shaffer and Associates just over two months to sell a beautiful Royal Oak bungalow for a record-breaking price. The sellers – an interior designer and a contractor by trade – had fully customized their 3 bed, 2 bath space, ensuring it came equipped with one-of-the-kind just about everything. So yes, the Royal Oak Real Estate market is doing quite well.
Royal Oak Real Estate Market
Royal Oak Real Estate Market
“It is a charming, brick bungalow that was featured in Michigan Design Center’s Home Tour in 2019,” Roberts said. “The owners had about 100 people tour their home.”
Just a stone’s toss away, next door neighbor Roberts knows the area well. He befriended the couple and when it came time to sell, they were happy to hear about his realtor expertise, trusting he would find that perfect buyer who’d appreciate their work. And, they couldn’t have picked a better representative. Having only been in the business for two-and-a-half years, Roberts was already enjoying a spot on Jim Shaffer & Associates’ leadership board as one of the company’s top agents.
He said, “We were really looking for that strategic buyer – one who would appreciate the bungalow’s aesthetics.”
Attention to detail would make the 1501 N. Blair property well-worth every penny. Its welcoming, bright red front door opens to an enclosed breezeway. In the main space, a living room with a vaulted ceiling, custom chandelier, and skylights includes access to the garage and back porch. An elegant, tiled fireplace in the family room makes for a cozy ambiance, and hardwood floors compliment the open and airy, neutral palette.
A large kitchen area comes equipped with plenty of storage and prep area, stainless steel appliances, a tile backsplash, and built-in shelving. Two first floor bedrooms share an updated full bath and an expansive second floor master bedroom includes its own fireplace and skylights. A partially finished basement contains a separate living space altogether, complete with a guest room, quaint kitchen, full bath, laundry access, and plenty of room for storage.
Roberts agreed to list the property for $490,000 with the stipulation the couple reduce the price after thirty days. After a month, it was lowered to $450,000 and, almost immediately, the reduction generated foot traffic. Before long, an offer came in at $430,000. The Royal Oak real estate market came through!
Believing there was nothing else that measured up, the buyers said they would take $440,000, and, sure enough, the home was sold to someone who fell in love with its originality – a real estate agent looking for something above and beyond traditional, cookie-cutter finishes.
Roberts quickly pulled comps, determined to show how drastically different the bungalow was from others with similar square footage. Its beauty ultimately spoke for itself, and the property appraised for $440,000, raising neighboring home values.
The bungalow’s story is one of hard work and determination that paid off with a ripple effect throughout the community. Roberts credits his success to the support of Jim and his team who he says are like family.
Darrin Roberts of Jim Shaffer and Associates
