New Listing - Single-Story Home in West Covina (2110 E Thackery St)

usctrojancpa

usctrojancpa

Well-known member
Earlier this morning I listed a tastefully renovated single-story ranch style home in West Covina on MLS. The home features 3 bedrooms and 2 bathrooms along with a large lot of almost 10,000sf and 1,533sf of living space. The home is listed at $750,000.

PM or email me if you are interested in seeing up an appointment to see the home. 

Here is the Redfin link:
https://www.redfin.com/CA/West-Covina/2110-E-Thackery-St-91791/home/7959128

Pictures and the virtual tour and 3D Matterport are in the link below:
https://tours.previewfirst.com/pw/109677
 
HMart said:
That sure is fast. West Cooooooooooovinaaaaaaa, Callllliforniaaaaa
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Yeah, things escalated very quickly.  The offer came from a buyer who saw the home at 10am this morning, the fastest offer I've ever gotten from a listing property.
 
I wonder if the rising interest rates and the realization that the rates are not going back to their lows and can only go higher has created a stampede to buy before it?s too late. The frenzy to buy seems even higher than before, which didn?t seem possible. Buyers are really in a bad position now and many may start giving up. I wonder if you?ll get over 25 total offers? Didn?t realize West Covina was such a hot market!
 
DrTravel said:
I wonder if the rising interest rates and the realization that the rates are not going back to their lows and can only go higher has created a stampede to buy before it?s too late. The frenzy to buy seems even higher than before, which didn?t seem possible. Buyers are really in a bad position now and many may start giving up. I wonder if you?ll get over 25 total offers? Didn?t realize West Covina was such a hot market!
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There are data points that shows the mortgage applications have decreased lately. It could be because of the seasonality + the winter storms in Feb.
 
DrTravel said:
I wonder if the rising interest rates and the realization that the rates are not going back to their lows and can only go higher has created a stampede to buy before it?s too late. The frenzy to buy seems even higher than before, which didn?t seem possible. Buyers are really in a bad position now and many may start giving up. I wonder if you?ll get over 25 total offers? Didn?t realize West Covina was such a hot market!
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The market sub $1m is hot just about everywhere, including West Covina.  If you look at comps, they support a sales price around $750k.  That being said, we already have a few offers over $800k.
 
How much of the red hot market is driven by the nightmarish rental market at 3 bedrooms?

Pushing $3000 is pretty common at 3bd and if it's a complex, ugly annual increases.

 
nosuchreality said:
How much of the red hot market is driven by the nightmarish rental market at 3 bedrooms?

Pushing $3000 is pretty common at 3bd and if it's a complex, ugly annual increases.
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I think the craziness is largely driven low interest FOMO and the fear of prices continuing to go up.
 
Wow is even crazier, we've had 10-15 showings every day since Monday. It's amazing how many buyers there are out there.
 
USCTrojanCPA said:
nosuchreality said:
How much of the red hot market is driven by the nightmarish rental market at 3 bedrooms?

Pushing $3000 is pretty common at 3bd and if it's a complex, ugly annual increases.
Click to expand...

I think the craziness is largely driven low interest FOMO and the fear of prices continuing to go up.
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FOMO of not having a place to live.

$3000 pays a lot of mortgage at current rates
 
I know of people outbidding each other for rentals or willing to pay a full year of rent in advance. It's kind of crazy on the rental side too.
 
Now we are at 18 offers with 7 of them over $800k.  I sent out the best & final counters last night which are due back by Sunday at 8pm.  The top buyer will need to get pre-qual'ed by my lender because the strength of the buyers isn't what I see down here in the Irvine/Tustin area (i.e. no cash buyers).
 
HMart said:
Was it not worth fixing up the brick area in the back? I'm not a RE professional so I don't know what kind of smaller renovations are higher ROI.
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Most people focus on the inside so the kitchen and bathrooms (along with paint) provide the best ROI. Besides, the owner didn't want to any more time with renovations since the home has been vacant for a month.  The yard is so large that the next buyer can use their imagination on how they want to make it their own space. 
 
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