Multiple offer winners

Our manager has helped this week with several multiple offer situations.  Here's what she tells us are the winning combination of elements for the buyers who ultimately bought the properties:

1.  Contingency removal forms accompanying offers.
2.  Buyers releasing money upon removal of contingencies...some earlier than that.
3.  Lots of letters and family pictures.
4.  Buyers making clear no repairs, no credits.

Red alert! Buyer clients got an offer accepted!

Buyers, it can happen to you, too! My buyer clients just got a purchase offer (in the low $500's) accepted for a home in Valley Glen. Thanks to wizard agent and heavy lifter Amber Dolle.  The buyers have written about ten or eleven offers before this, and obviously all were rejected.  Moral of story: if you're a buyer, hang in there.  Be prepared.  Your home is out there.

Open today, Sunday, 4/21 from 2 to 5 - 621 N. Keystone, Burbank

Come visit Steve and me at this gorgeous character home in the heart of Burbank.  You might even be able to see Rusty the cat (that's him in the dining room).  It features 3 beds, 1 bath, 1272 square feet, all the original details you could hope for in a character home, a redone kitchen, redone bath, huge backyard, and central Burbank location.  It is listed for $635,800 and we'll be there today from 2 to 5.

Good luck finding a house? Now, good luck finding a Realtor, too!

This will make you hate us Realtors even more.  But many of us are now turning down the opportunity to work with buyers, especially in certain price/location ranges.  Why? Because we can't find you anything.  Not only that, but we already have two, three, or even four client groups looking in the same price range/general vicinity and we can't find them anything either.  Oh, if only inventory would increase...

Sunday morning reading for those that didn't go to Coachella

Two great articles about real estate have appeared in today's Sunday papers.

First is an article re bubble market tactics.  It's by Kenneth Harney for the L.A. Times.  It discusses the pros and cons of escalation clauses, no-contingency offers, and low listing prices to draw lots of bidders.

Next is an article from the esteemed Robert J. Shiller for the New York Times entitled "Why home prices change or don't."  It's a bit wonky, but among other items, it discusses how technological advances in home building have helped keep costs down.  I thought it was really interesting.  

Happy reading or happy hanging out at Coachella.

Coming Monday: Darling 3+1 character home in Burbank for $635,800

Listing on Monday: this adorable 3 bedroom, 1 bath Tudor revival at 621 N. Keystone in Burbank.  It features all of the architectural details one could hope for in a period-style home, plus a remodeled and expanded kitchen and updated bathroom. Hardwood floors, sun porch, fireplace, central a/c and heat, and big dining room complete the picture. The third bedroom opens to a covered patio, plus another deck overlooks the big backyard.  This home is ripe for thoughtful expansion -- or to just live in and love like past generations have done.  Yes, it's centrally located in Burbank (and less than a block away from the donut shop on Keystone and Magnolia!). Stats: built in 1929, 1262 square feet, 7072 sf. lot, and listed for $635,800.  The first open house will be on Sunday, April 21, from 2:00 to 5:00 and more pics can be found on my website at judygraff.com.

What do robots have to do with real estate?

I received a box from California Association of Realtors the other day.  Actually, it was from their ad agency.  It contained this robot (which, yes, spins and shoots fake lasers) and a card announcing a new ad campaign.  But can somebody tell me what robots have to do with real estate?  Is this new equipment that we'll be required to buy?

The wild and wool-y real estate market

Well, pardners, my experience in the local market has been like a buckin' bronco lately.  Yes, I'll have some campfire stories to tell y'all, but first I have to get all the cattle driven back into their pens.

Here's some good news, though: 1122 N. Cordova in Burbank has closed for $540,000.  That's $5000 over list price.  We originally had it in escrow for $545,000 but those buyers wanted $11,000. We said "happy trails to you" and got another buyer.  This buyer paid cash at $540,000.  Now, if we can only get the Cordova sellers into a new home.