After Oakwood’s price reduction, I had multiple offers and it is now in escrow.

11255 Saticoy, Sun Valley -  $260,000 mls# 22138892

I just listed this home sited on a 16,000+ sq ft level street to street lot.  The house is one bedroom, one bath in approximately 600 sq ft. Features include hardwood floors, a large living room with bay window and kitchen with eating area. There is a circular driveway and detached garage.  Seems possible that some savvy buyer could purchase now, subdivide and build a second home later.

Regarding the short sale offer which I wrote on Mother’s Day: still waiting to hear from the lender.

On another short sale note, Lisa and I wrote an offer about three months ago.  There were several offers, one was cash which was less than ours, one was higher than ours, but that buyer lost interest. After three months, the short sale was approved and because the highest offer backed out, it went to our client.  But after the three month wait and the expiration of the tax credits, our buyer was no longer interested.  (Sigh) Back to square one with this buyer…

Lisa just wrote an offer for clients we have been working with for “awhile”; there were more than half a dozen offers; only two were countered.  Ours was one of the two – wish us luck!

We have lots of extremely well qualified buyers.  But reasonably priced inventory remains tight and we continue to encourage our clients to be patient.

I am working on two new listings – more on that later.  Thinking of purchasing a home?  Lisa, Natalie and I are in town for Memorial Day weekend.

Related Post: Memorial Day Weekend Getaways