While the word “bargain” may conjure up images of frustrated shoppers elbowing each other at Wal-Mart in order to purchase great deals on Black Friday, the reality is that just about everyone typically wants to obtain the best price that they can – especially if that includes the ability to purchase property in a distinctive and highly valued area for much less than it might be worth.
There’s no question about the fact that Beverly Hills commands some of the highest priced real estate listings in the entire country. With many of these properties being owned by current or former celebrities, that can often make the asking price soar even higher – especially on those that are located in the 90210 zip code.
So, in an area where there can be buyers clamoring to make offers, why would a seller consider selling their home at a bargain price? One reason is that “situations happen” – even to those who may at one time have had it all. Over the past several years, credit has tightened, meaning that some who once had a high end zip code can no longer afford to keep it up.
When this occurs, the need for a quick home sale is often in the mix, resulting in what some may deem as an oxymoron – multi-million dollar home bargains. Some of these homes may be advertised, while other property owners in this locale prefer a quiet sale. So, just because there isn’t a For Sale sign in the yard, it doesn’t mean that the owner isn’t accepting offers.
Working with an agent who is familiar with the area and its local happenings can help get you much closer to that diamond in the rough in an extremely hot area, for an even hotter selling price.