Pacific Palisades Full of Multiple Offer Activity

This past week has felt like a trip back to 2004-2007 for many realtors that work the Pacific Palisades market. Four homes hit the market and all have multiple offers with rumors having at least three of the four going for over asking. Here is a look.

555 Muskingum- Major Fixer/Tear Down on a 8,799 sq. ft. lot hit the market for $1.295M and immediately received multiple offers and is currently in escrow at over asking.

527 Muskingum- 3+2, approx. 2K sq. ft. on a 7,870 sq. ft. lot with ocean views. $1.849M list price. Cute beach cottage home in very good condition with strong emotional appeal. Word on the street is this property received four offers and they accepted an offer yesterday. We do not know the price range.

737 Almar- 4+4, 2,954 sq. ft. on a 5,837 sq. ft. lot located in the El Medio bluffs. $1.949M list price. Cute Mediterranean style home that has a nice lay-out and needs a little bit of updating but something someone can easily move into. Limited yard space but good appeal. They received two offers right after the broker caravan on Tuesday and are rumored to be in escrow at asking or above.

878 Galloway- 4+3.5, 2,958 sq. ft. on a 5,867 sq. ft. lot located in the Alphabet streets in a prime walking location. Beautiful East Coast traditional with a ton of emotional appeal. It was bought in 2007 for $2.725 and was listed at $2.295M. Apparently they received 5 offers and are in counters above the asking price…