HOLLYWOOD HILLS Pool Home | 3457 Bonnie Hill
This amazing Hollywood Hills pool home boasts a 20,000+ square foot lot! Talk about privacy and room for growth! We couldn’t be happier for our lucky buyers who were up against a slew of other bidders on this wonderful property. Contact us if you would like to know how we were able to put this deal together for them!
Sold for $ 1,270,000 | 3 Bedroom – 2.5 Baths | We represented the buyer!
Los Angeles has been in a seller’s market for quite a while, and one of the major players, has been the cash buyer. Most of the correctly priced properties from Malibu to Pasadena are selling with multiple offers right now. It’s not unusual to see buyers submitting offers before even seeing a listing. What’s even more impressive is that out of every 10 offers, there are typically a couple cash offers. It across all price ranges from starter condos in West Hollywood, to the beautiful mid-century’s in the Hollywood Hills.
Why do sellers and listing agents love cash offers? Cash sales generally provide for a smoother transaction. The overwhelming joy of a cash offer in today’s competitive bidding market is the elimination of that pesky appraisal. As a listing agent and seller, there’s nothing more annoying than having 20 offers and buyers ready to pay $1.2 million for a home and then having the appraiser from the bank say it’s only worth $1 million and kill the deal. This is happening with more frequency than before. With a cash buyer, no one needs an appraisers opinion of value, even if you are buying a Hollywood Hills pool home. The cash buyer is helps define values by creating sales data that is nudging prices higher and faster than what a bank would allow. The irony of all this of course, is that as these cash sales close, appraisers use those sales as basis for the next appraisal.
We have succeeded in beating many cash buyers for our clients over the years. As a buyer there are ways you must compete with cash buyers and win. It’s more then just the price. You must assume you’ll be going up against cash buyers from the start. You must be well prepared and ready to battle. Agent and lender relationships are so important and there are many terms that can sweeten the deal. If you’re looking to make a move into a Hollywood Hills pool home, or something a little more conservative, Call on us anytime. We will help you find a home you can afford!