Despite all of the negative real estate press and the recent mortgage market upheaval, the West Side of Los Angeles is still hot. Due to tight inventory, the most desirable properties (homes that are priced well, turnkey, or have potential for upside) are even more competitive! Imperfect or over-priced properties, however, remain on the market until they are reduced. Multiples on the "good" properties are still the norm. Both of my recent sales were multiple situations. Case in point: my listing on Cresta Drive in Beverlywood sold in 5 days; but from day one I was fighting off the offers (as my clients were out of town).
In this market, it is crucial to be able to act quickly, and have a good agent who can help you bid strategically in order to succeed in a multiple bid situation.
Happy house hunting!
MY RECENT SALES:
9017 Cresta Drive (3 Bedroom Single Family Home in Beverlywood) - $1,259,000; Represented both buyer and seller; multiple offers.
151 Tigertail (Estate in Brentwood) - $3,600,000; Represented buyer; multiple offers.
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