We are thrilled to announce the successful closure of our latest 1031 exchange deal this month. It was quite the journey for our buyers, who had six months to find a property. With inventory levels on the lower side, finding a property that ticked all their boxes was challenging, but we are delighted to say we did it! There were multiple offers and we successfully closed 158 S Sierra Madre Blvd #6 Pasadena.
Our buyers, who had previously sold four older units in Glendale, had a clear vision. They were searching for a new or newer-built townhome or condo to avoid the hassles of multiple tenants and frequent repairs, especially in their retirement years. After an extensive search, we finally found the perfect match: a stunning townhome built in 2019 at 158 S. Sierra Madre Blvd in Pasadena. However, securing this gem wasn’t without its challenges.
The property swiftly went into escrow, almost slipping through our buyers’ fingers. But luck was on our side when the escrow fell through. This allowed us to swoop back in and secure the property for our clients. In the midst of this roller coaster ride, our buyers had also placed a deposit on a complex in Montrose, nearing completion. However, upon experiencing heavy rainfall, they realized their disappointment with the new construction, prompting them to reconsider.
Despite the ups and downs, we are delighted to report that our buyers ultimately landed the property they had set their hearts on. Guiding them through this process has been an honor, and we’re thrilled with the outcome. This journey underscores the significance of patience, perseverance, and having a dedicated team by your side. If you’re considering a 1031 exchange or searching for your dream property, reach out without hesitation. We’re here to transform your real estate dreams into reality.
