There are currently 19 blog entries related to this category.
Monday, November 12th, 2012 at 3:44pm. 179 Views, 0 Comments.
The 2009 auction lasted 90 seconds. This one, too.
Seems like most of the people we chatted with on site Sunday were observers, no dog in the hunt. People were just curious about how the spectacle of a home auction unfolds.
MBC readers, you were virtually there. You can check out our 4-minute video here. (Dave's intro and postgame added a bit to the length.)
Now, those of you who aren't keen to play the video right now are going to be wondering: How much did it sell for?
Well, MBC isn't one of those sites where you're going to have to wait to find out, or click through a bunch of ads first.
Final sale price: $1.320m.
So, what'd we…
Friday, November 9th, 2012 at 3:03pm. 229 Views, 0 Comments.
But a true property auction is coming up Sunday, a probate auction that will be the first like this that we've seen since December 2009.
It's at 1761 Voorhees (4br/4ba, 3325 sq. ft.), a 1990 Spanish-inspired home just a couple of doors off of Aviation in furthest East MB.
On Sunday afternoon at 4:15pm, the flag will drop at the property and bidding will begin.
Last time we saw a public probate auction in Manhattan Beach, the whole deal was done within 90 seconds. (See "Probate Auction Ends at $805k.") So get ready for that this time, too.
At Voorhees, they had just one public open house, last Sunday, and suffice it to say the place was crawling with people…
Tuesday, October 2nd, 2012 at 5:55pm. 173 Views, 0 Comments.
Kids are in school, people are settled, inventory is slow, not much to get excited about.
Or is there?
2301 John (4br/3ba, 2600 sq. ft.) is poised to bring a burst of excitement again.
Wednesday night, which is the more exciting event?
The presidential debate, or the sellers looking at offers for 2301 John?
Depends on your perspective.
Rumors are rumbling that this will once again be multiple+multiple offers.
There were 20 offers for 1805 John St. way-back-when (March 2012), but that was a unique case with builders and owner-users competing against each other for a prime lot. The 5065 sq. ft. lot went for $1.352m, and that wasn't even the highest bid.
Several offers flowed in for 1812 John (4br/2ba,…
Tuesday, January 24th, 2012 at 4:15pm. 165 Views, 0 Comments.
Price with a 7 in front.
That'd be 433 Marine Place we're discussing – a full-size lot (2700 sq. ft.) along a nice street just steps from Grandview elementary and with ocean-peek potential. And forget that formal address, which sounds like (and is) off an alley. The lot comes all the way forward to 23rd St., where the address would properly be 432 23rd. (The current structure, pictured here, is tucked away back on the alley.)
The start price: $725k.
By way of comparison, on the open market today you can find 2 smaller and much less-well-located Sand Section lots at similar prices:
- 3600 Vista is a pebble's throw from Rosecrans and the lot's just 1800 sq.
Friday, January 21st, 2011 at 7:23pm. 151 Views, 0 Comments.
A listing comes, it goes, it comes back. In the not-quite 4 years since MBC launched, we've had the opportunity to cover the sales, and then resales, of several properties.
Looks like we'll have another chance, this time with 2509 Palm.
You may recall that 2509 Palm (5br/4ba, 3200 sq. ft.) was one of the last speckies developed by one particular builder in the last cycle. Facing a torrent of issues, he put up 5 unsold speckies for auction back in November 2008. None sold, and 2509 Palm wound up foreclosing.
(For a refresher, see MBC's first post on the auctions, "Name Your Price?", the post on Palm foreclosing, "Back to the Bank," or the recent wrapup story on the auctions' results,…
Monday, October 4th, 2010 at 9:47pm. 150 Views, 0 Comments.
When the "grim, destroyed" house at 1801 Elm came up for sale 11 months ago, it created a buzz because it hit the MLS at $399k. Was it a typo? A listing agent who'd slipped through some kind of wormhole into another time?
No, it was an auction, and that come-hither price was doing its job, generating weeks' worth of interest before a minor drama at the auction site in early December last year. The house sold in 90 seconds.
Four months later, the deal closed – in April this year. It was a probate case. The $805k price offered by the auction winner could have been overbid at the courthouse, with a minimum bid of $847,750 (winning bid +5%). But that didn't happen.
So the auction winners paid their…
Thursday, July 15th, 2010 at 4:45pm. 127 Views, 0 Comments.
Short story: They broke ground in late 2006 (oops!) on some experimental luxury condos, and the project flopped. (The column is online here and also here, in its print layout with photos.)
The auction occurred this past Sunday, and the auction company is still sorting through the bids to try to seal up all the deals. What we know for now is that they did get bids on all 18 condos.
Meantime, this auction reminded us of the once-ballyhooed MB/Hermosa new home auction, which had very different results.
You may recall this one, and if you do, bravo – your memory's better than you thought.
It was November 2008,…
Wednesday, April 7th, 2010 at 10:05pm. 137 Views, 0 Comments.
The delay since that cool December evening was all about getting court signoff on the sale. However, at the final court hearing, a new bidder could have come in at $847,750 (winning bid +5%) to snatch the property away from the auction winner.
That wasn't going to happen, as MBC readers, among others, generally agreed that $800k or so was pretty much the maximum value for the tear-down on this lot.
A solid majority (55%) of those voting in our probate auction pricing poll selected a price range of $700k-$850k, with the greatest concentration near $800k. (See "Poll Results: 1801 Elm.")
The next-door home, 1733 Elm…
Monday, December 7th, 2009 at 3:25am. 135 Views, 0 Comments.
Amid the smells of a campfire and roasting marshmallows, and the sounds of a classic fast-rapping auctioneer, the deal got done Sunday night at 1801 Elm in rapid fashion.
The final auction price: $805k.
That's right in the sweet spot of where most MBC readers thought the auction would end.
As we noted in our post on the poll results, 55% of those voting in the poll guessed $700k-$850k for the final price.
20% had the range exactly right, having guessed $800k-$850k, while 21% were just a tad short, guessing $750k-$800k.
Did we say campfire?
This was not a bonus offered by the all-business auction company. It was the neighbors, who saw something of a happening forming next door and took to the front yard to cook out and enjoy the scene. The scents of…
Sunday, December 6th, 2009 at 4:25am. 143 Views, 0 Comments.
The public auction is slated for 4:45pm at the property Sunday night, Dec. 6.
Even though MBC offered 9 separate categories for reader votes, 3 categories spanning just $150k in difference got the clear majority of all votes.
Fully 55% of all those casting votes believe the auction price on Sunday will wind up between $700k-$850k.
To emphasize the consensus here, we've spun our pie chart around a bit; just note that higher guesses went to the left (counterclockwise, blues) while lower-price guesses went to the right (clockwise, orange/grey).
By a minuscule plurality, it was the narrow price range of $750k-$800k that drew the…