Today as I was doing some work on the MLS for my listing sale in Alta Vista in Monrovia. I noticed a property that I didn’t actually notice on the market in town. It was a listing on Hillcrest that was a comp for my listing on Alta Vista. Similar home size and similar lot size… I looked further and it was being sold by an AUCTION company.
This company was from Los Angeles, didn’t do any real marketing and the property was unavailable to preview. (Yes it was on the active list while it had been pending for 2 weeks) The property sold at a VERY LOW price. Id say it is at least $40,000 below market for this home.
Homeowners… PLEASE, PLEASE, PLEASE, remember Realtors work hard to sell your home at the highest and best price that will close. If you are trying to save a couple dollars we understand, our commissions are negotiable. In this case I expect the seller lost out on about $20,000 net because they didn’t get the best price.
In todays market there is no shortage of buyers out there so the need for an auction sale really doesn’t exist in the LA Basin. My listing on Alta Vista closes next week… WAY over asking price. This one should have too.
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