In December 2018, I showed my clients this beautiful home. They fell in love with the property and I was able to facilitate the purchase for them at $1,075,000.
Just 8 months later, they unexpectedly had to put the home up for sale. We knew the market went up over the previous 8 months... but how much? We decided to list the home at $1,090,000. At our limited showing open house (2:00pm - 2:30pm), we had 25 buyers sign in. Each of those buyers brought a couple of friends/family members with them. We counted about 80 people that had lined up in the street outside the home. It looked like a block party!
In the end, we received 5 offers. After a fierce negotiating battle among the buyers, a wonderful family (my clients that I brought to tour the home), ended up winning the property. The selling price was $1,155,000. That's an $80,000 profit for the sellers in just 8 months!
Keep in mind, no remodeling had been done to the home over the 8 month period. My buyers said they saw my marketing video (OakmontWoods.com) and were intrigued by the back story I gave about the community. I am very happy all worked out for the sellers, and that I was able to bring another great family to the Oakmont Woods community.
We're hiring! Real estate agent assistant needed.
Our family owned real estate business is growing and we are expanding our support team.
We are hiring a real estate agent assistant/project manager.
We are looking for someone who is ready to support our social media accounts (20K followers on Instagram - @DanielLosAngeles), manage our Customer Relationship Management systems, and help with a variety of projects that will generate client leads and grow the company even further.
If you are organized, knowledgeable about social media, and great with project management, contact us today!
Link below for job description and instructions on how to apply.
contemporealtors.squarespace.com/hiring
Thanks!
Home just sold for $85k more than it was bought for only 8 months ago
I represented both the seller and buyer on this property!
The sellers are sad to see this property go, but they told me they are very happy with the outcome.
The buyers are thrilled to be moving into such a exclusive neighborhood.
I am happy both parties were able to successfully achieve their goal!
Daniel, what's the best deal in Burbank?
Quiet, upscale, and best of all... you can keep a horse in your backyard!
This home is located in one of the best areas in Burbank.
Because this property is a fixer-upper, it's great opportunity to get into this neighborhood at a major discount.
That's why this is my favorite home to come on to the Burbank market this week!
Possession of your home must be turned over by 6pm.
The standard real estate purchase contract states that possession of a property from seller to buyer must be turned over by 6pm on the day escrow closes.
So even if you record, and close escrow at 8am in the morning, the seller is still allowed to remain at the property until 6pm.
Keep in mind a standard contract can be changed.
As long as the buyer and seller agree, the seller could stay in possession for days... months... years... the entire life of the seller... whatever is agreed upon.
Home title recordings occur between 8am - 6pm.
You still own your home up until the second that the county recorder's office officially records the title transfer of your home to the buyer of your property.
In other words, the ownership of the property has officially transferred from you, the owner of the home, to the new owner, the buyer of your home.
On the day you are scheduled to close escrow, recording can take place any time from 8am-6pm.
Until you get that phone call confirming recording, you are still the owner of that home and are responsible for anything that takes place at that property.
What happens as we get closer to escrow closing?
All of these events take place within 5 days of closing escrow on your property.
Since you know this will be a busy time, make sure you plan and request time off of work as soon as possible.
Have home prices gone up in value in 2019?
Every price point is different, obviously; but I am hoping that this example gives you a general idea about what has been going on with home prices so far in 2019.
As usual, I do expect a slowdown in the 4th quarter of the year (October, November, December)... that happens evey single year.
The market will then pick up again in January.
There's been a home buying frenzy in LA over the last 30 days.
I don't care about the article you just read discussing recent home selling data... this is what's really happening... this is how deals are going down in the Los Angeles area RIGHT NOW!
Below are the number of offers I have received on my personal listings over approximately the last 30 days.
The stats below will give you an inside look at the current market in the LA area.
6 offers - 4610 Densmore Avenue #9, Encino. Sold $15k above asking price.
3 offers - 7288 N Figueroa St, Los Angeles. Initially was in escrow for $35K above asking price, but because of extensive repairs needed to the home discovered during the inspection period, this property was sold $5k over asking price.
3 offers - 4610 Densmore Ave #11, Encino. Sold $10k over asking price.
5 offers - 3640 Emanuel Drive, Glendale. Still in escrow and can't disclose the exact price... but we are well over $1.1 million.
I can't speak on the activity other agents are getting, but I hope this info helps you to navigate LA's real estate market.
