1525 E. Armando Dr., Long Beach, CA 90807 – Transaction Details
Date: March 25, 2021
Property Type: 3 Bedroom, 2 Bathroom, 1,503 Square Foot Single Family Home
Purchase Price: $1,040,000
Year Built: 1939
Description: Pursued an secured an off-market opportunity for our buyer clients to acquire a beautiful home in the midst of an extremely competitive market.
1525 E. Armando Dr., Long Beach, CA 90807 – Transaction Summary
In the midst of an extremely competitive market, where properties are regularly selling for hundreds of thousands of dollars above list price, this deal is a great example of how being resourceful and diligent can pay off. Our clients came to us looking for a new home with a yard in Long Beach, in the midst of the coronavirus pandemic when people are fleeing condos and townhomes in favor of single family homes. Due to commute being less of a factor, suburbs further away from Los Angeles had become increasingly popular, causing prices and demand to soar in areas like Long Beach. Our clients were understandably frustrated after losing out in several bidding wars, despite making extremely aggressive offers. During the process, there was one home that our clients had seen, but the sellers had ultimately decided not to sell the property. Despite that property being pulled from the market, we continued to stay in touch with the sellers’ agent, and communicated that our clients were still extremely interested, and could be flexible in terms of timing. Our persistence eventually paid off, and we were able to negotiate an off-market deal, despite the fact that surrounding homes were rapidly selling for significantly above-market prices. Our clients’ clear desire to own the home, as well as ability to be flexible with a leaseback and an attractive offer price, were key terms that convinced the sellers to forego the hassle of putting the property on the market. After thorough investigations and a short 30-day escrow period, our clients are now the proud owners of this beautiful home, which features a flowing indoor-outdoor layout, a beautiful pool, and a permitted bonus space off the garage. Now freed from the competitive market, our buyer clients can relax in their new home.
Additional information and pictures can be found here.
For more information on this transaction or to discuss any other questions you may have concerning the Los Angeles real estate market, contact Esquire Real Estate Brokerage, Inc. at 213-973-9439 or firstname.lastname@example.org.