Tuesday Tours Ep.0

Tuesday Tours Ep.0 - Facebook Live Property Tour: Luxury Foreclosure

Tuesday Tours Ep.0 - Facebook Live Property Tour: Luxury Foreclosure Transcription.

Rochelle: Today is Tuesday Tours on Facebook and we are headed out. Today we are on foot. Oh my god, okay. Hi everybody!
Introduction: Welcome to Tuesday Tours.
Rochelle: Rochelle Lecavalier, it turns out for today's Tuesday tours, we started Tuesday tours with the lens cap on. So, if you're taking notes at home like R&D, don't do that. That's really funny. Okay so, hello and welcome, we are today in Royal Palm Yacht and Country Club going for Tuesday tours. I am super pumped, because today the Tuesday tour happens to be on my street and we're gonna walk there.

So, let's take a walk, I guess. Right like we don't have to get in the car. How often do you get to do that? Never, I think never pretty much is the deal. So, it's nice and cool out and I don't have to get in my car. That's pretty stellar, you have to admit it. No? So, anyway we're walking down the street on Queen Palm Road and I don't know what else to say.

So, we're gonna take a look at, today's Tuesday Tour is actually a foreclosure. If you want to just go up here and can you go backward, like this. Hi everybody! Okay so, we're working out the bugs and today's Tuesday Tour is a really rare commodity in the luxury market in general. In recent years in Boca Raton, there haven't been too many foreclosures coming on the market.
Today we are gonna take a look at a foreclosure and a luxury foreclosure. So, this is 2280 Queen Palm Road, it is owned by US bank and it has been just very freshly put on the market this week. It is a six-bedroom, five-bathroom house. We have five thousand six hundred eighty square feet under AC. It is as you can see, total Mediterranean style.

I totally can't remember the code. I really can't remember; I'm drawing a huge huge blank. So, I'm gonna pull up my calendar really quick and get it. So, do you have your calendar?

Haley: I should.

Rochelle: I have it in the notes in my calendar section. So, it's also really rare in a luxury property that it would be on a combination lock box. That's super rare in the luxury market. Generally speaking, an agent has to accompany all showings and do a proper demonstration of a property, because it's owned by a bank and the agent is a foreclosure specialist, it's maybe less of a luxurious experience. We can put it that way.
So, 2280 Queen Palm Road, Mediterranean style house in Royal Palm yacht and Country Club. We do have six bedrooms and five baths, it is five thousand six hundred and eighty square feet under AC. It was built in 2003. So, some of the exterior features include, major vines. We have this very Mediterranean look out here and the gates and the courtyard, with a fountain. It's actually pretty clean.

So, you know our exterior is not tragic. We do have travertine marble on the entry. So, we are on Queen Palm Road. Sort of some dead grass and you've got the Mediterranean look, three-car garage and barrel tile roof. It's a little gray out today. Do have hurricane impact windows. Are we good to go?

Haley: Good to go!

Rochelle: Woohoo! We're good to go! Hi Haley.

Haley: Hello!

Rochelle: So, here's Haley. Miss awesome, opening the door. So, we have your Travertine floors. So, as we make our way through for Tuesday tours, we will notice a few interesting caveats about this house. You have the columns; I like to refer to these as columns of doom. Because in the mind of a buyer these are usually a bit of a chill killer, this is not a popular style today.

Then if you take a look at the top, we have some gold-ness and then as you make your way down, you'll see this is all faux paint. Which you know 2003, yeah, I don't know it was really super in style at that time. This is a very specific look that somebody obviously really liked, so that is what they did.

So, we see the Chandelier, same kind of idea, ceiling you know inside with like faux painting. I’m not hating this mantle actually; I can really deal with this mantle a lot. But you see on the flanking sides with the mantle, you have more of this like just faux-ness. Even down on the switch plate you have, it got painted. So, this you know, that's not too bad. It's paint, but when you get into the Venetian plaster, the columns.

Some of those sorts of things, that's going to be a bigger investment for a buyer who's going to have to sort of De-Tuscanize, as we say, in the space. So, if we make our way into the family room and kitchen areas, you'll see more fan velocity and a wonderful painting. This is not the best way to show a property, especially a luxury property. I would highly recommend if you were considering selling a luxury property, that you do your very best to get it as neutral as possible to appeal to a wider pool of the buyers.

In this case, it's a foreclosure house and so they haven't taken that time to you know neutralize the place. Even just you know a nice a neutral color of paint and some nice white contrasting trim, would brighten this place right up. If we take a peek at the outside, if I can open the door which I can, yay!
You'll see the pool is in need of a good cleaning, and you do have this really dated look with the big stones out here. But the space is really nice, I mean in terms of the depth. It’s not bad, you have the eureka palms here, which take up a lot of space and you can really hack those back. This is a standard size lot, it’s 0.26 acres which in Royal Palm is a standard size lot.

So, you have this whole sitting area over here that you could set some patio furniture up on. You can also remove these pavers and put some grass in, if you have little ones or pets. Now in the loggia area, we have again the columns of doom. So, as a buyer most people would either square them off, get a more fresh and current shape or somehow otherwise camouflage them.

These are not desirable to today’s buyer. They do have a nice touch which is the stained wood ceiling, which many buyers in this market find very appealing. Over covered sort of patio living area, loggia space like this is really important in Royal Palm Yacht & Country Club. People spend a lot of time outdoors and they want a nice place where they can have a seat.

It does also rain here a lot, without warning. So, it's nice to have a coverage space to get out of the Sun to get out of the weather and enjoy that outdoor time. There are speakers out here and you can probably upgrade those and do quite well with the space. It is all hurricane impact windows. Which speaks to the era. As we make our way back inside, you can notice that the Mediterranean theme with the travertine floors are throughout the home.

In the early 2000’s, this was really a hot look. I now successfully stage homes and sort of, to use my phrase again ‘De-Tuscanize’ them. These sorts of floors can blend into the background and interestingly enough come off as quite neutral. In this particular space, everything else is sort of mirroring with it to create a very Mediterranean atmosphere. I think that if the kitchen would be finished in a white and off-white of vanilla, you could really get into some very neutral and current looking kitchen space.

So, we do have a delicious Thermador range. It does not appear to have been heavily cooked on, not shocked. We do have the griddle in the middle and the gas. As well as KitchenAid fridge, probably original from the era. It's a little stinky, that's not unusual in a foreclosure house. So, the house has been vacant for some period of time, as I mentioned it is a foreclosure property. It is owned by US bank. This house is listed at two million, eight hundred and eighty thousand dollars.

Is it a good price? I ask you my Facebook friends, what do you think of the price? Let me know in the comments. Meanwhile, I'll tell you what I think. Of course, don't I always? So, here is the dining room. This room is very golden. We have more Venetian plaster; we have a lot more gold. All around, this is like gold all over the place. So, that is not current, but it is easily recoverable.

So, this is just paint. As long as the architecture works, the paint can make all of the clouds disappear. Get it, clouds? Did you see them? So, as we make our way back from the entry area, you see there’s an entry elevator on the right. Then we go to the fabulous master suite. Fair warning, the Mediterranean-ness continues. Here we have the master bath, complete with a stained-glass window with lavender and purple flowers.

Who doesn't love stained glass? Well, actually, I do not know state bus and neither do today's buyers. But it's here all the same. So, this probably a pretty easy fix for a buyer to take this space and make it their own. The wallpaper has to go, stain glass has to go. But if you notice the room is nice and wide, you have plenty of room where you could pull this out and put a more current freestanding tub.

You still have the stall shower, double vanities, separate closet. All of those are things that buyers want. The bones as they say, are good. As we make our way to the master suite, we have his and hers closets. This is key, so for many homes that are from a previous build era, there are certain key features that the house must have otherwise it is dead in the water. In this case we have a his-and-hers closet with built-ins, so we don't have that problem.

If it's a single closet, if it's you know a really cramped space. If the master bath isn't big enough, if there's not a separate water closet, it dramatically brings down the value of the house in the minds of a buyer and ultimately, it's gonna sell for less money. Which means that's gonna be a great deal, in this case I'm not sure.

So, it’s a very Mediterranean-style, the house was built in 2003. It is over 5,500 square feet with six bedrooms and five baths, that's all fantastic. It does have a first-floor master suite. There's another plus. However, a buyer would have to come in and really do some heavy lifting in terms of cosmetic improvements. The bones are good, so it's not a teardown, it's not a tragedy, it doesn't need anything structural.

But things like this? Our gold column, our faux painting, I mean there's a lot of Venetian plaster in this house and that's not a good thing today. So, there is a lot of work to be done. So, the asking price of $2,800,000, is it fair? Well at the moment, there happen to be 29 interior bought homes for sale, that's quite a lot.

In terms of homes that are very very similar to this one, I'm talking say number of bedrooms, same amount of square footage, plus or minus a year or two on the build year. There are five homes on market right now, all listed right between two and three-quarter million and three million dollars. So, at 2.8 million dollars, you've got some competition on this one. It is a foreclosure property, so perhaps someone could make an offer and come away with a big win. I'd be curious what you think. Most of my Facebook friends live in the neighborhood. Hi guys! So, let me know in the comments. What do you think this one's going to go for?
House two doors down, 2244 Queen Palm, just sold for 2.9 million. Same size, same number of bedrooms, same building era and it was completely renovated. Let me know your thoughts!
For now, I'm gonna sign off from Tuesday tours. Bye!