Monday, January 12, 2009

Probate and Trust Real Estate Update

Good News for the Old Year, Good News in the New

2008 ended with a flurry of activity and 2009 is showing signs of more of the same. We ended the year with a court confirmation for a property in the Hollywood Hills with active overbidding so that the property at 1742 Courtney had a final sale price of over $1,000,000. The crazy part is that when the property initially went on the market it was priced at just under $1,000,000 and we were unable to get an offer on the property. The estate finally accepted an bid for $890,000 after being on the market for a period of time. As part of our marketing efforts we did our standard remarketing of the property to solicit an overbid and lo and behold on December 29 (when most of the world was not working) we had active overbidding in court.

Earlier in the month we had multiple offers on a property that we had put on the market in Tarzana and we are currently awaiting a court date for that property. We also did our final sale of the year on December 31.

Happy New Year!