I’m over the moon excited about our new listing at 1043-1045 S Sierra Bonita. The offering is a 3408 square foot entirely vacant duplex on a tree lined street of all single family homes!!! Each of the 2 duplex units is flooded with sunshine + character, has a private porch in front + backyard access at the rear, a living room that opens to a dining room, which opens to the kitchen and laundry room, 2 beds + 1 bath. The downstairs has an unpermitted half bath in the primary bedroom + central HVAC, and the upstairs has an extra room over the driveway. The sweet owner passed away at almost 100 yrs old – she owned the building and lived downstairs since 1982! Since this duplex is vacant and on a block of all single family homes, I wonder if an owner user would be allowed to turn it into a single family home.
Emily closed a buyer sale last week, Nechama + Bryan have a buyer in escrow together and they each have a buyer of their own in escrow, and I’m representing 4 buyers in escrow at the moment. We’re loving representing our buyers! One buyer deal appraised for 740,000 over the list price. Another buyer deal was in escrow with a different buyer (not ours) for 250,000 more than our buyer is paying with their accepted offer (and then we got a 15,000 credit after inspections). US Bank is quoting 5.5% with a relationship discount right now (without a relationship discount it’s 6.25%.) Sentiment among our 7 buyers in escrow is a feeling of wanting to own a home now and not delay, taking advantage of a market where demand is lessened because of the high interest rate environment, and planning to refinance when rates go down. It’s an interesting time for buyers to jump into the market, and it’s a total honor to negotiate hot deals for our people!
A buyer we represented on a purchase some months ago got a call last week that his homeowners insurance company flew a drone over his house to inspect his roof, and they threatened to pull the insurance if he didn’t fix his roof immediately. To respond, we sent the roof inspection report from the purchase. Insurance companies on our deals in escrow are requiring photos of the whole exterior including the roof, photos of cabinets under the sinks, and copies of inspection reports. There’s a disconnect between sellers who insist the purchase be “as is” no matter what, and buyers who need to make repairs immediately to get insurance. Smartest for the world to adapt to the times and communicate to all parties relevantly.
Seth and I definitely live our best lives when our kids and grandkids are here! My favorite part of Dovid + Avigail + Chaim (age 22 months) visiting is Chaim’s Great Big Grandma Hugs. Chaim runs with arms open wide, eyes shining, and a smile from ear to ear. I hug Chaim tight and say “I loooooove you” and Chaim adds “Sho Much” and then he giggles and says “again” and toddles away so we can repeat. Chaim loves dispensing water from the water cooler; he knows exactly where to go to find a cup so that he can fill it with water and serve drinks to thirsty people (like Grandma). I love everything about the kids coming to visit – preparing all their favorite foods, sharing my car, hanging out on the couch, visiting neighbors with stroller in tow and a baby on my lap once we arrive. But my favorite part hands down will always be all those little hugs and kisses!
Have an awesome sunshine filled week ahead!!!
Xoxoxoxo,
Sheri
