Multiple Offer Mayhem Part IV: Brentwood

How about 35 offers on one house followed by a neighboring house coming on weeks later and receiving 15 offers! What about almost a million over asking? Here we go-

1750 Westridge Road- 3 bed/5 bath, 4,754 sq. ft. Traditional on a 32,246 sq. ft. lot – Fellow Partner Scott Carmody had a firestorm of buyers on his hands with a $2.195M list price. The property received around 8 offers for the rare opportunity to build or remodel on a lot this size and that rarity apparently drove some to bid over $2.5M (350K over asking) for the property. The escrow is still very young so we will be tracking this one.

117 South Medio- 4 bed/5bath, 5,365 sq. ft. Traditional on a 8,000 sq. ft. lot – This stunning traditional home created an unbelievable buzz when it first hit the market due to a ridiculously low list price of $3.295M. Many agents felt the property was worth over $4 million and it ended up selling for $4.251M almost $1M over asking! In total they received over 11 offers and countered back to 6 of them. Congrats to Partner Vicki Driscoll for helping her client see the value of the home in this marketplace despite the deceptive list price.

1353 Beckwith- 3 bed/2 bath, 2,259 sq. ft. Ranch on about a 9,000 sq. ft. lot – The polo fields of Brentwood are getting a ton of attention but no one expected the property to garner 35 offers at the $1.495M list price. This major remodel/teardown is rumored to be in escrow between $1.650-$1.7M with an all cash buyer.

 On the heels of 1353 Beckwith going into escrow, fellow Partner Richard Stearns listed 1341 Beckwith a tear-down with an 11,140 sq. ft. lot at $1.595M. The trust sale was only open for the broker caravan and garnered 15 offers and an offer was accepted this past Thursday.

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