That was fast. 2012 W. Verdugo Ave. is in escrow

I listed 2012 W. Verdugo in Burbank last week for $525,000.  It went on the multiple listing service on Monday.  By Wednesday night we had a great offer.  By Friday we had opened escrow.  By today we have three good backup offers.  Did I mention that it's a short sale?

I must have fielded at least 20 calls a day from Realtors, and at least 15 calls and emails a day from buyers. (Because it's a short sale, I can't represent both buyer and seller.)  The house was mobbed during showing hours.

What can we infer from this very fast activity? That the market is "back"? I wish. That it was priced too low? No -- with that amount of traffic, we should have had 20 offers.  That people really like mid-century architecture? Yes.  That people want to live in little Burbank, in spite of the fact that it's not exactly a bastion of hipness? Yes.  That people are more educated about short sales than they used to be? Yes. That...oh never mind. 

But the fun (and the work) is just beginning since it's a short sale, and I'll keep you all posted.  Did I mention that the 1st lending bank is BofA? MMMmmm, my favorite!

That was fast. 2012 W. Verdugo Ave. is in escrow Rating: 4.5 Diposkan Oleh: jembe