Would you sell your home for less money than it might be worth for the security of knowing that it will close without any drama?
That is the question facing some Sellers in north Santa Monica in the recent past. I have been involved in transactions where sellers would have rather accepted $100,000 less from one Buyer than $100,000 more from a potential buyer that needed a mortgage and or had, God forbid, an inspection contingency.
Almost every real estate agent in town can tell a similar story.
Some Sellers are willing to accept offers several hundred thousand dollars under market to avoid having to prepare a home for sale and show the home to prospective buyers. In this type of sale, we say that the Seller is looking “quality over quantity” – the quality is that the buyer is 100% certain to close, versus the quantity (amount of money being offered).
Here is your up to the minute real estate market info:
There are fourteen homes available to buy North of Montana Avenue with a charming English cottage- 334 25th St.- hitting the MLS yesterday. There are eight homes in escrow. Closed sales went up to fourteen homes year-to-date with 530 17th St. and 315 24th St. in the last week.
New Listings this Week
334 25th St. - 5bd + 5ba. $4,395,000. Remodeled English design by Eric Parlee w/detached guest cottage. Close to Brentwood Country Mart. Last sold in September 1999.
New Sales this Week
754 23rd St. - 4d + 4ba. $2,495,000. Corner lot at Montana Ave., over 8,800+ sq ft. Large 3,300+ of interior space. New hardwood floors. Last sold in July 2011 for $1,843,000.
Closed Deals this Week
530 17th St.- 5bd + 8ba. $4,500,000.
315 24th St.- 3bd + 3ba. $3,020,000. Sold over asking price!
Pence Hathorn Silver Active Properties:
2009 La Mesa – 6bd + 8ba - $18,900,000
502 16th St. – 5bd + 7.5ba - $8,495,000
601 17th St. – 5bd + 6ba - $4,495,000
17014 Bollinger Dr. – 4bd + 3.5ba - $2,350,000
416 Entrada Dr. – 3bd + 1.75ba - $1,575,000
1330 Stanford St. #F – 2bd + 2.5ba - $1,189,000
Search for more homes, see real time analytics and learn about the North Santa Monica / North of Montana Ave. community on our North of Montana blog. Add your comments (scroll down to the “Add Your Comment” section) and read other blogs. And please call my mobile phone (310) 924-4014 with any questions.