Selling a house is never an easy process. Especially when it’s a home that has housed so many cherished family memories. The Jarrod Peterson Real Estate Group of Edina Realty has helped hundreds of families sell and make the transition they want to. But one family sticks out to us and was really special: The Ancheta family. With most of our “Be Like” blog series, we have protected our client’s identities by using fictitious names. However, the stories, stats, and emotions have always been real. This time, with permission from our clients, the names shared match their emotional journey. Continue reading to hear more about the Ancheta family as they sold their family home.
Monico and Rosita Ancheta were blessed with three beautiful children: Jocelyn, Al, and Stan. After living in Minneapolis for many years, they decided to embark on a new journey and build their dream home. They built it from scratch in 1972, buying the land from a farmer in Andover. At the time, Andover was nothing more than dirt roads, and open fields—a growing family’s dream. Monico, a skilled engineer, designed the home himself, even installing the insulation in the attic and walls. Monico and Rosita were great entertainers, and it was important they had a home large enough to host their regular Filipino community gatherings.
The home was Mediterranean-inspired, located on several acres. It had five bedrooms, four baths, and over 3,700 finished square feet. It consisted of many windows, fireplaces, and a walkout rooftop deck above the attached, two-car garage. Their house even had a central vacuum system (very progressive for 1972). The walkout lower level featured a full kitchen/wet bar, which was used often for entertaining.
As you can imagine, there were a lot of memories created in that home between 1972 and 2020, when it was sold. Jocelyn and Stan enjoyed the acreage and yard the home provided. Al held his wedding at the home in 1981. But sadly, the home was more than Monico and Rosita could maintain as they aged. When Rosita passed away in 2018, and Monico followed in 2019, it was time for the three siblings to figure out what to do next.
Let’s Talk About Options
Jocelyn, Stan, and Al, were hoping the home could stay in the family. Would a grandchild want it? Would someone else in the family want to purchase the home while carrying on the Ancheta name? When those options were not possible, the next question was: Should we rent it? Should we sell it? They had a lot to consider.
The siblings decided not to rent the property and instead sell it to someone who would be proud to call it home, as their mother and father had all those years. Jocelyn coordinated the emptying of furniture and personal property, as well as clearing out the home. As they went through the emotional process of sorting through their parents’ belongings, they had common questions such as, “What do we do with all this stuff? What do we do with all the photographs?” Sorting through the items was emotional yet fun as the siblings often chuckled wondering why their parents kept all this stuff.
Al and Stan were figuring out the next steps to selling the home. They contacted an Instant Offer group; you know the type: “We buy your home for cash.” The offering price was discounted by over $100K. The siblings were worried because it was the start of COVID-19 and they didn’t know the impact that would have on real estate sales and the economy. While this was going on, the family decided to sell 12 of the 16 landlocked acres to a neighbor. They did that so other developments wouldn’t be built on that land. Stan coordinated this activity and the buyer of those 12 acres was the Eveland family of The Eveland Family Farm. The Eveland Family Farm held events and fall festivals and did so much for the Andover community. For the sale of the property and the remaining four acres, Al suggested they contact Jarrod Peterson of Edina Realty, whom he trusted and with whom he had previous experience. Since Jarrod and his team had helped over 1,600 clients in nearly two decades, Jarrod was confident in his assessed market value, and it was $100K above what the Instant Offer company was offering.
The home was prepared and cleaned by the family, while Jarrod and his team ensured the best aerial and professional photography was conducted to tell the true story of the home. COVID-19 was creating a huge demand for homes with acreage, and the timing of the sale was perfect. The home hit the market on June 5, 2020, and within 48 hours (52 showings later), the family had over a dozen offers to review. Many of the offers were cash offers, which are always beneficial since they typically don’t create any appraisal challenges. After selecting an offer, the home sold for $35K above its listing price. Choosing the right buyer was important to the family who wanted the new homeowner to care for the home and appreciate what their parents had built.
A Final Goodbye
Shortly before the scheduled closing, the entire family gathered one last time at the home. They shared stories, cherished memories, and even honored their mom/grandmother in a special way. Rosita collected rocks over her lifetime, and the family took turns throwing various rocks into Coon Creek, a tribute to the home they had built for the family.
If you want to BE LIKE the Ancheta Family and are looking for the right realtor to sell your home, contact us at the Jarrod Peterson Real Estate Group with Edina Realty for a private consultation. Our team has helped over 1,600 buyers/sellers/investors and has received over 81 local and national industry awards for their client sales and services.