While in college I was a student worker at the Van Nuys Court; it was a horrible job. Everyone who came or phoned was cranky; they were paying fines, fighting tickets, etc. I worked there several years and then embarked on my mortgage banking career. Although I don’t sell many homes deep in the San Fernando Valley, when my former courthouse boss asked me to sell her Sherman Oaks home, I was proud to be hired.
Earlier this year, we signed the listing paperwork, prepared the disclosures and prepped her Sherman Oaks home for sale. We coordinated the landscape freshening, window cleaning, power washing, and the painting of several rooms. During the spring, prices were quickly rising and although the home was vacant there was no reason to rush getting the home to market. It seemed each day we delayed that homes in the San Fernando Valley were worth more.
I listed the home on 7/11 and it closed escrow on 8/30, for $26,000 over the asking price. The first time the home sold, the buyer quickly cancelled (prior to their inspection). I am seeing more and more of this: the over exuberant buyer. Offers are generally clustered by price, but recently there have been more instances of one ambitious buyer with an off the charts offered price. Quite often these buyers come down with buyer’s remorse. The good news is that their remorse comes quickly.