I’m super excited that we staged 109 N Sycamore #202 and it looks completely awesome! The sunshine in this unit is spectacular! I love properties on corners where you can see down the streets in 2 directions. I also love high ceilings and so much character. This unit comes with one subterranean parking spot + lots of guest parking on site and off. The building has a charming shared courtyard with lush trees, and a gym with new gym equipment. The location is amazing and it’s convenient that laundry is located literally outside the unit. Our sweet client loved living here single until she got married!
I’ve been having fun decorating 507 N Mansfield. The property is getting staged Monday and it will be on the market as a new listing for 1,695,000 on Wednesday! I chose Benjamin Moore Chelsea Grey for the base of the exterior (with black accents around the windows) and also for the interior doors. I did a Benjamin Moore River Blue front door, and the interior walls are fresh and bright Benjamin Moore Decorators White. I had the lower vintage kitchen cabinets painted Benjamin Moore Narrangansett Green to complement the original tile counters, and the uppers Decorators White to keep the space feeling airy and fresh. The house is super cute with a high barrel ceiling in the living room and a corner radius detail ceiling in the dining room. The primary bedroom is a suite. With a secondary bedroom, a second bathroom, a sweet yard, and a great location, I’m excited to bring the fresh and new edition of this property to market in the middle of this week!
Nechama’s listing at 1015 N Hi Point got an offer this weekend for 250,000 over the asking price, with a 17 day escrow period, 7 days for inspections, and no loan or appraisal contingencies! 1137 S Ridgeley ended up with multiple offers and it’s set to close this week! 503 N Formosa ended up with multiple offers and it’s set to close next week! Emily’s listing at 525 N Sycamore #206 got multiple offers over asking and is also closing next week.
We leased 119 S Orange for 6500 a month before it went on the market. We just leased 11862 Art St and 344 S Rexford #6 for the asking prices. 651 N Wilcox 1E leased for the whole asking price to great tenants with high credit + income. 315 N Vista has multiple applications – we’re hosting an open house Sunday 1-2 to get in all parties wanting to see, and then the landlord will make a final decision and choose a tenant.
It’s a very interesting phenomenon to see that properties that are attractive + desirable, and are listed below FMV, get so many offers, and when there is one buyer who wants the property the most, that buyer offers way over the asking price, sometimes also way over the FMV. And then it’s an interesting phenomenon to see that sellers who choose to list for more than FMV often end up selling below value. Sellers mistakenly believe that adding a “pad” gives buyers room to negotiate so that the final sales price will be at value. In truth, an overpriced listing makes some buyers sit on the sideline and wait for the price to go down, and it makes interested buyers either pass because they decide it’s not worth the price OR they offer a low price knowing that the sellers are unrealistic and want too much for their property. Also, when a prospective buyer considers a property, the price gets factored into their opinion, much the same way as the condition or the location. An attractive list price heightens enthusiasm for the property, and a high list price dampers excitement for the property. In a high interest rate environment, it feels like this phenomenon takes place on steroids, which is why we’re seeing a slew of competitive (and aggressive!) offers on some properties and no offers, or low offers, on others. Pricing is always key, but now it feels like price may matter more than ever before.
Esti just got back from a fabulous experience as a camper in an 18 day traveling camp through NY, New Hampshire, Vermont, and Maine. The camp is the brainchild of a woman entrepreneur in her 50’s, who runs consecutive trips of her camp each summer for years. There were 45 15-16 year old teenage girl campers, 5 teenage supervisors, and a coach bus with a designated driver in his 70’s. Each camper brings one duffel bag that goes in the luggage compartment + a backpack that goes under the seat + a crossbody bag to wear + a shoe-box-size snack box in the overhead compartment. Daily breakfast, set up on a folding table, is a choice of 4 cereals with milk. Opposite the breakfast table, is a folding table with pack-your-own-lunch with bread + spreads. Dinner is mostly bbq and sometimes quickly cooked on Betty Crockers (one night it was pizza dough with toppings that the campers assembled themselves). Weekends are a communal effort with 12 campers volunteering to tackle a divided grocery list and gather “their” items. Campers help chop, mix, wash, and prepare food for Shabbat. Twice, on Sundays, their bus stopped at a laundromat so the campers could wash their clothes. They mostly lodge overnight just for 1 night, they’re assigned a room, everyone has a throw blanket with them to use to sleep. The white water rafting, gondola up to a beautiful hike, pancaking, and biking around a pristine lake were amazing but the best part of the camp hands down was the camaraderie, the eclectic group of so many different types of people, and the friendships that happened on their traveling bus. I love the idea of the whole experience – the outdoors, the spontaneity, the flexibility + adaptability, and most of all meeting other people of the same age who enthusiastically embraced the adventure!
Come visit us today at 628 N Highland 1106 S Highland, 160 S Poinsettia, 843 S Cochran, and 109 N Sycamore #202! We’re so proud to show these beautiful properties!
Wishing all an awesome week ahead!
Xoxoxoxo,
Sheri
