1865 ELINOR DRIVE PLEASANT HILL, CA
Sq. Ft.: 1,273
MLS # 40606368
Who would ever guess that we would be practicing real estate long enough where we are now assisting our clients’ kids in the purchasing and selling of their homes? Our clients are being relocated to an international employment opportunity and needed to sell their home after living there only two years.
Thank goodness the timing of the real estate market is in their favor today which has created a ‘seller’s market’ throughout the central part of Contra Costa County. We decided to launch the sale of the home this week, but given that it was professionally staged inside by Ashley Provst Design on Thursday, and the exterior was ‘staged’ over the weekend we decided to hold it open on Sunday.
Because of the price point – $500,000, and because it is in a ‘turnkey’ condition, we knew it would be jam packed. We were not prepared for the 109 families who toured the home during the three hour open house. Multiple offers were received and the home is now in escrow well above the asking price.
The prevailing purchase offer had a 50% down payment, a 21 day close and a free rent-back for 45 days. It is very tough for Buyers in this hyper-Seller’s market to compete if they don’t have a significant amount of cash and and are not able to provide attractive terms to the Seller. And, we believe this hyper-Seller’s market will stabilize in the next 60 days as more homes come on to the market.
In the past 30 days in Pleasant Hill, homes that closed escrow between $500,000 and $600,000 were on the market for ten or less days. That is how crazy this market is in this price point. And, the ones that went into escrow were typically in a turn-key condition. So, if you are thinking of selling your home, or a buyer looking to make a purchase, make sure you hire the best professional team possible; Realtor; Lender; Inspectors; and, Title Company.
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