PACIFIC PALISADES, Calif. (STL.News) – Black Sheep Realty, a boutique Real Estate Brokerage Service covering the coastal areas of Southern California, just sold the estate located at 1449 Cuesta Linda Drive in The Highlands, Pacific Palisades, a market that has been stagnant for close to two years with almost no sales reaching the $4 million mark.
According to Alejandro Szita, lead agent of Black Sheep Realty, the median sales price in The Highlands is around $2.5 million, and homes within that range sell in 21 days average when priced not more than 3 percent over market. For this reason alone, selling an estate home in The Highlands is challenging.
The Highlands is located just 2.5 miles above Sunset Boulevard, a five-minute drive at most, however, buyers not familiar with the area tend to regard this submarket of Pacific Palisades as remote. This allows the savvy buyer to get between $1.5 to $2 million more house for their money than when buying closer to Sunset.
1449 Cuesta Linda Drive was previously listed at more than $1 million over market and failed to sell after eight months on the market. In addition, there was some deferred maintenance that a prospective buyer would have to be willing to take on. The challenge that Black Sheep faced was to attract the right buyer for this magnificent European-style estate despite these disadvantageous circumstances when they took on the listing.
The property was highly desirable in that it featured a separate guesthouse and basketball court. The main house featured a grand and impressive floor plan with a tasteful blend of modern and traditional décor, and the last owner introduced many technological and energy efficient upgrades—including a Control 4 System® and WiFi throughout the property.
Therefore the value was there, and Black Sheep resorted to an aggressive sales strategy to overcome any perception that the property had been “shopped.” “We committed to the listing 100 percent,” says Black Sheep CEO Thisbe Ongania. “We produced a high-quality presentational video and a detailed brochure. We aggressively advertised on real estate websites and publications, and we held open houses every single week until the property was sold.”
Black Sheep Realty is a boutique real estate brokerage located in Irvine, California, that services the coastal areas of Southern California. Black Sheep offers a full range of services which include investments in NNN Commercial Property, 1031 Exchanges and a concierge service standard to all its clients.