An associate in my office told me about a listing she was getting in the 90065 area. I was able to tell a few clients about it before it went into the MLS. I knew it was a great property and that it would sell fast. I had the slight advantage of knowing about it before it was in the MLS. I say slight because she is an ethical agent and of course wanted to make sure she obtained top dollar for the home. It's not like she would have entertained any offers before it was exposed to the MLS.
Considering the fact that she received 14 offers on the property, I am guessing that it is in escrow for well over asking price. It was listed for $589,000 and last I heard she had offers of over $620,000. I am sure it is in escrow for over $650,000! Did she under price the property? I ran the numbers and I would say she was spot on with her list price, based on the recent sales in the area. So why in the world would it sell for so much more than list price?
For starters the home is located in a highly desirable area of LA. In case you haven't heard, downtown LA has become a very glamorous place to live which is why it has become so expensive. This property is adjacent to DTLA and close to the freeway making it very attractive to buyers. It addition, this property has been well maintained over the years and it is perched up on a knoll with no surrounding properties. Who ever gets this home should feel as though they won the lottery!
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