I’m super excited for both of our new listings this week!
8808 Thrasher is a prized jewel box right off the Sunset Strip. It’s pretty much new construction designed by the famed Michael Palumbo. It’s a sophisticated hip sleek contemporary Cape Cod with a handsome pitched metal roof on top and rich cedar lined ceilings right underneath. It has tree top views of city lights to the north and lush green mountain views with some dots of colorful flowers to the east. Through the floor-to-ceiling windows are views of desert landscape in the front enclosed gated courtyard, the pool with spa and waterfall on the west side of the property, and through the living room window the ledger stone waterfall in the rear yard. The master suite upstairs has a fireplace, custom walk-in closet, baths with views of city lights, and a private rooftop deck with a dramatic fire feature. There’s a garage and 6 uncovered off street parking spaces. The house feels like an exclusive ski chalet and a safe quiet tree house sanctuary in luxuriously appointed pristine brand spanking new condition.
1927 Buckingham is a historical architectural home known as The Drake House, for the wholesale coffee merchants who commissioned the house to be built in 1920. It’s located in Wellington Square, a historical neighborhood of sprawling architectural homes on tree lined streets with a true sense of neighborhood. The house has a covered front porch and large rooms with mahogany moldings and antique original light fixtures. The curb appeal is unique and interesting with an entire row of identical windows on the second floor elevation facing the street. Downstairs is two formal rooms, a kitchen with a breakfast room that opens to the large backyard, and an office. Upstairs is 4 beds, 2 baths, 2 enclosed porches that make for bonus spaces off bedrooms. It’s our fourth time working with these owners and their family and each time is a bigger honor than the time before! Interest for this home has been off the hook since we listed it a day ago!
There is an unprecedentedly low inventory of houses for sale at the moment. It’s fascinating to observe the dynamics that low inventory creates. This week we received multiple offers over the asking prices for different properties. Every single offer we received was over the asking price. Each and every time an offer came in for more than the list price, each and every owner responded to the over-ask offer with a counteroffer for a price higher than the price that was offered. On listing appointments, I honestly told each owner my recommended (ambitious but fair) list price and each and every owner wished to add a sizeable amount to my recommendation. I told one seller a price I thought he could get for his house “as is” now and, at his request, a price I thought he’d get if he upgraded his property entirely – all systems and all cosmetics – in an extensive remodel that would take a lot of time and money to complete. He responded that he’d sell right now if he could get “as is” the price I thought he’d get if he did the extensive remodel. Owners seem to seek the absolute highest comp for a property in the same size range as their house and then they wish to add some numbers to that highest comp and in their minds they put the value of their house there – irrespective of the condition, location, year built, or other architectural details that make their house different from the house that sold for the highest price in their size range. Our role as real estate agents in today’s market is not just to be an educated expert but more to be a strategic advisor to the seller as we work together through expectations, opportunities, and the smartest way to navigate an effective successful house sale to achieve the best result.
A seller asked me on Friday if I’m always tied to my phone. I AM always tied to my phone six days a week and I absolutely love it! From sundown on Friday until after sundown Saturday night I observe Shabbat and we don’t touch phones, lights, cars, or any technology on our Jewish Day of Rest. Most poignant and memorable moment this Shabbat was sitting at the lunch table with my husband and daughter, all three of us singing our hearts out. We actually did harmony. The ladies did one tune together and Seth, my husband, did the other. I’m definitely better at negotiating real estate deals than I am at singing harmony but I love my family more than anything and it’s lots of fun to sing together on key or off when I’m not showing houses or working out the details of trading property.
We’re so excited to host open houses today, Sunday, from 1-4 at 8808 Thrasher, 1927 Buckingham, 521 N Formosa, and 118 S Clark! It’s such an honor for us to represent these beautiful properties and it will be the biggest treat to give prospective buyers a tour! I wish everyone an incredible Los Angeles weekend – we’re so blessed to live in sunny Southern California!!! Even with the parts that we all wish would be better, I love LA!
Xoxoxo,
Sheri
