$510,000 Over List

by | Feb 26, 2013 | Bubbleinfo TV, La Jolla, Why You Should List With Jim | 4 comments

The view deal on Muirlands already closed, after a 7-day escrow:

LP = $1,250,000

SP = $1,760,000

They had 36 offers. Select your listing agent carefully!

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Jim the Realtor
Jim is a long-time local realtor who comments daily here on his blog, bubbleinfo.com which began in September, 2005. Stick around!
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4 Comments

  1. avgjoe
    avgjoe on February 26, 2013 at 6:59 pm

    do you think they could have got more if the listing agent did a better job of pricing it? How much money do you think was left on the table? Will we see it in the MLS in a couple months for 2 mill?

  2. Jim the Realtor
    Jim the Realtor on February 26, 2013 at 7:03 pm

    The list price was so wrong that buyers didn’t know where to come in to win, and either gave up, or only offered a little over $1.25.

    If the LP would have been at least $1.5 to $2.0, there would have been a handful of real players who would have all paid $1.76.

    They should have done an open auction, with all bidders gathered around – which would have gotten it to $2M or close.

  3. Daytrip
    Daytrip on February 26, 2013 at 11:35 pm

    It’ll be interesting to see more of these time capsules revealed as the greatest generation closes up shop.

  4. Another Investor
    Another Investor on February 27, 2013 at 7:56 am

    Cash sale? If so, the argument that rising interest rates will slow sales and increase inventory may not work, at least in areas where demand is high and cash is king.

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