You’ve been waiting patiently for the right house – preferably an older home with character.
One that’s been well cared for, and if it were on a canyon lot, great.
You see a video on the internet of a new listing in University Heights, which doesn’t have the refinement of Mission Hills, but is still a pretty good neighborhood. The last sale on the street was the house next door, which sold for $735,000 in 2008. So even though the list price of $799,000 seems high, you reluctantly decide to join the bidding war.
But someone with more horsepower blows up the field.
The house on Arch just closed for $900,000 cash, and 13% over list price.
Hat tip to our friend Auntie Agent, who was involved with the sale: “Good listings in that area are SO limited. The house is nice but nothing overly special, it is just its siting and location in the neighborhood. It is so highly prized in that area and being on the canyon just brought buyers out in droves creating the frenzy that propelled the price skyward.”