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The big three D's can offer a clue... Death, Divorce and Debt as to why a house changes hands. Also ask your Realtor to obtain a title report, maybe this time the seller is in financial trouble and simply needs to dispose of the property and that has nothing to do with the house itself. There are many excellent opportunities in Real Estate today by distressed sellers, ask me, I specialize in foreclosures and wrote the book, Defeat Foreclosure in 2007 when i predicted real estate values would drop by 35% to 40%... I was not far off of the mark was I?
Well..I would ask the question...Why? Finding out will be the job of your buyer agent. It might be nothing more then people who have purchased the home who are in jobs that transfer them often (Military for one)., or it could be a Red Flag of something with the house..right now you need information so get that from your Buyer Agent.
I tend to agree with some of the agents who answered you. First and foremost, the average for turn around is every 5 years. If you are serious and put in an offer, get a reputable Home Inspector and an Appraiser.
Short answer is that on the face of it not necessarily but you are right to wonder why this would happen so try to find out more about the home and play devil's advocate (a good idea anyway) before proceeding.
Richard "RJ" Kas (SFR, SRES)
"Representing the finest properties from Los Angeles worldwide"
KAS Properties - Coldwell Banker Previews International - Beverly Hills East
9388 Santa Monica Blvd, Beverly Hills, CA 90210
310.859-5334 office - 310.488.9826 mobile - 310-273-0670 fax ATT: RJ
RichardKas@gmail.com - http://www.RJforLA.com - DRE: 01352771
Sellers Buyers Investors Leasing Consulting
Short answer, not at all! There are many reasons why people move and often times it has nothing to do with the house but a change of job, life change etc.
I just sold a home in Pacific Palisades where the buyers purchased two years ago, remodeled to their taste and sold it to be closer to their elderly family. The buyers of this home had the same questions you do: "Why would someone purchase a home, remodel and sell in such a short time? Something must be wrong with the home." In actuality it was an exceptional property.
If you need help navigating the Hollywood Hills, I have extensive knowledge of homes in this area and will point out the benefits/draw-backs to each home.
Keller Williams Realty
What you should do is get a professional home inspection from a very reputable company, get a termite inspection, roof certification, ask the neighbors about the history of the home, read your preliminary title report and seller transfer disclosure statement. f you suspect foul playâ€¦get a police report on the home, they can tell you how many times the police have been called from that house or if a crime has ever been committed there.
Real Estate Broker
Realtor since 1987
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If you can get a home that apprases for $75,000 for $20,000 do you care how many times it sold?
The appraisal is everything because the true value compared to what you are paying is all that matters. You buy things every day that are sold four or five times by the time yoou get them. Milk goes from the cow to the farmer in exchange for food and shelter. The farmer to the milk producer for$11.00 for 100 gallons and the milk producer to your local store for $1.00 a gallon and to you for $2.50 a gallon which is the market price.
Some areas in LA County are more geared towards families with children where people buy and stay longer, i.e. suburbs, and some areas are more dynamic like West Hollywood and Hollywood Hills. average 4 years between sales in the area you are looking at is not unusual. However it would be a good idea to look at the chain of title and see what has gone on with the particular home you are looking at since you seem to have a concern.
If you need help, please call me @ (310) 383-4212
Keller Williams Realty
#1 Buyers Agent KW Los Angeles
The question is, are YOU concerned about buying a home like this? Something has made your antennae go up; I'm a firm believer in listening to you intuition, and acting on it.
I would do some in-depth research about the situation. Talk to the previous listing and selling agents to get a clearer picture as to why the home was sold. Is it a marginal location? Is it the smallest/ least expensive/ lowest priced/ lowest quality for the neighborhood? Is it a starter house, making it a home that first time buyers choose for the short term, then move on? Is it a "fix and flip" home that is continually being refurbished, then sold for a profit? Is there a neighborhood nuisance problem, like barking dogs or a nearby school?
Look at the track record, and then discuss your concerns with your Realtor. Be sure you get a full set of disclosures, and ask for any and all previous reports on the property. If you do your due diligence, including thorough inspections, you should be fine. On the plus side, the home has a proven track record for selling, which will be good when you are ready to move on.
Best of luck,
The Bremner Group at Coldwell Banker
REALTOR, 00588885, ABR, CDPE, eAgent, CSP, SFR, HRC, CRE
(O) 310-571-1364 DIRECT
If the house is in good condition and has been fully inspected, the number of times it has sold should not affect your decision.
1. Why are the current owners selling
2. Why has the home been sold 4 times in the past 16 years (listing agent may not know details of previous sales)
3. Have there been any foundation or structural issues (since it's in the Hollywood Hills and potentially a hillside home)
4. Do you have a copy of a previous geological and/or structural inspection report
Study the neighborhood, talk to neighbors, get a home inspection & go from there.
Many homes owners reside in their residence for approx. 5 years - or +
Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
Most of us move an average of once every 6 years, so if you take that into consideration the sales rate is a little higher than average, but remember that is an average, so be sure to look at those comps!