My listing at 619 Clayton sold this week for $100,000 over the asking price to an investor in a relatively short amount of time. There were two other offers on this property around the same price and these other interested parties were investors as well. During the marketing period, there was a lot of interest and a majority of the buyers were investors. The other types of buyers were owner-occupiers (living in one of the units and renting out the others) but I didn’t receive offers from this type of buyer.
My client did a partial 1031 Exchange (“partial” because she lived in one of the units) and the buyer also did an exchange. In my next entry, I will describe in greater detail what this means.
