One home defied the seasonally slow Rockridge market this month: 5314 Shafter.
It’s a 2 bedroom, 1 and a half bath bungalow with a well manicured back yard, detached studio, proximity to BART, all within the coveted Chabot school district. These features fall into many a buyers’ wish lists, but there was only one lucky buyer. Or maybe a lucky seller?
The list price was well under market, at $659,000, which garnered much attention. It was marketed that the property would be shown for approximately two weeks, and that any offers would not be reviewed before the set offer date. This is a common practice, which creates a multiple-offer scenario, which inevitably drives up the purchase price — a practice we used to see during the boom.
Conclusion: after only 4 days and one open house, the sellers of 5314 Shafter accepted a “pre-emptive” offer, i.e, well over asking price, likely with no contingencies. The buyer is also being represented by the listing brokerage, or dual agency. Not the most PC end result, but surely a result.
This signals there is pent up buyer demand, or the prospect of competition prompted one buyer to offer the moon. Either way, things are already looking up in 2011.
Are you planning to sell your Rockridge home? There can be advantages to listing your home off season. If you’d like to know what 5314 Shafter sells for, or if you’d like a consultation regarding your home, email me.