I’ll be honest: I was reading the doom& gloom real estate report in the Wall Street Journal last night, and gearing up to post something for you because, honestly, I always want to tell you the truth about the market. I know financing is 100% of our problem with the double dip — oh and I just heard that FDIC chair Sheila Bair is out effective July 1.
But I just could not write it. And I’m glad.
This morning I talk to Jeff Mitchell and David Griffin, to learn that 960 Kessler Parkway went under contract within one day of listing, and I think, where is this damn depressing data coming from? Further: Jeff tells me that of the last four homes he has sold, they all sold within four to five days of listing. I talk to my banker on Friday. She lives in Merriman Park Estates where prices have actually gone up! She bought her home in 2005 and it’s worth today more than it was then. Highland Park, she tells me, is where values are down.
The real estate market is a huge head-scratcher.
So get this: Jeff and David list Kessler on April 22, 2011. The next day, Pete Ryan from Briggs Freeman Sotheby’s brings in a client, who plops down a contract later that afternoon pretty close to asking ($995,000). Today is the last day of the option period and my guess is that by the time you are reading this, Kessler will be sold on paper and Todd will have had 24 hours to recoup from the Schlegel wedding and then start packing. He paid over $799,000 for the property in 2006.
I’m telling you, there’s no rest for the wicked and that includes ME! And BTW, Kessler Park real estate is on fire!