Boyd Smith and Matt Littell of Podley Properties announced today the sale of a 5,831 square foot estate on a 2/3 of an acre for $6.415,000, one of the highest prices realized in the Linda Vista area .
The gated home has five bedrooms, six bathrooms, a Guest House and pool and views of the Arroyo Seco. It was built in 1938 and renovated in 1955 then again in 2007.
Today’s sale was the result of creative “matchmaking” in a market that is very short of supply, Smith said.
The gorgeous property wasn’t on the market at the time the buyers, who are moving to Los Angeles on a very tight schedule, came looking and fell in love with Pasadena’s “community lifestyle,” he said.
Knowing the needs of both the sellers, Smith said he felt there “might be a good fit” and presented the idea (and price) to the sellers. They decided to move forward.
“A lot of real estate deals in today’s market are like that,” Smith said. Many homeowners haven’t thought through the implications of the rise in property values.
“The value of your home can be so great that it allows you to move up or to downsize.” Smith said, and that dynamic can create sales of homes which were not previously on the market when buyers come looking.
“In a market that has very limited supply, as a real estate professional you have to be very creative,” Smith said.
The key issue for sellers is not the sale of their home for a high price. The real issue, even deterrent, is figuring out where to live after they’ve sold.
“The seller knows ‘I can sell my house in 24 hours.’” Smith said. “That’s great – that easy. Where they go is the challenge.”
That’s where the real estate agent must become creative and put their knowledge of the market place to work, offering clients alternatives that most people outside the profession might never have considered.
The more completely Smith can help his potential sellers resolve their “where will go” dilemma, he says, the more likely he can arrange results that are now turning into a string of record sales with happy sellers and buyers.
Smith along with Matt Littell of Podley Properties and Mark Ogden of Sotheby’s International Realty represented sellers Jaynie and Woody Studenmund. Susan and Brad Mohr of Partner’s Trust Pasadena represented the buyers.
Boyd Smith is available at (626) 755-1669 or boyd.smith@podley.com
