When last we called attention to 1126 Laurel, it was last November, to label the home "Such a Deal in '09."
Without irony, we noted that the new, 2012 listing for this fairly large TH (4br/3ba, 2300 sq. ft.) near downtown was a sign that "2009 was a great time to buy."
2009: a great time?
Of course, to be…
When last we called attention to 1126 Laurel, it was last November, to label the home "Such a Deal in '09."
Without irony, we noted that the new, 2012 listing for this fairly large TH (4br/3ba, 2300 sq. ft.) near downtown was a sign that "2009 was a great time to buy."
2009: a great time?
Of course, to be living and shopping for real estate in early 2009 seemed like more of a horror show at the time. The local market had been dipping for a couple of years and the economy didn't look so good. (Pause a moment to recall, and the understatement here is apparent.)
If you bought then, you had plenty of reason to fear that equity would start leaking out the windows as soon as you got the keys.
But now we see what can happen when you buy on the dip.
In 2009, 1126 Laurel was a new TH, one of 2 built together on an unusual, trapezoidal lot fairly near downtown and somewhat near MB Blvd.
Listed at almost $1.3M, it actually sold for $1.037M in July 2009.
In Nov. 2012, it came out 35% higher, at $1.399M.
That price wasn't to be, for the home has an irregular layout and some question marks around it.
But the sellers did great, selling for $1.265M in a deal that closed last week.
That's a jump of $228K in about 4 years, and +22% over acquisition. It's also just $25K short of the start price from way-back-when, when the TH was new in March 2009.
Whatever might have motivated the purchase or sale here at 1126 Laurel, it has provided an example of buying low and selling high. And the resilience of Manhattan Beach real estate after a true stallout just a few years ago.
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MB Confidential readers: Get an early look at 700 27th St., a warm modern in an ideal corner-lot location. This property does not hit the MLS till next week. Asking $2.250M.
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Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 18th, 2024 at 6:11pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.