All Blog Entries by Dave Fratello

There are currently 2,004 blog entries published by Dave Fratello.

For once, we see a couple of closed sales in this market that don't seem bonkers.

Both were townhomes on Alma, up in the North End, each with some views.

First was 2801 Alma (3br/4ba, 1960 sq. ft.), a 2005-built Spanish by a well-regarded builder with very nice details.

Views? Yes, some, off the balcony, probably blockable.

Don't let the build date fool you, the listing seemed to say: "[It] still looks new. It’ll look new next year. And it’ll probably look new 10 years from now." Hey hey, a house that never gets old!

This one launched at $2.500M and caused something of an instant buzz: Isn't that a bit high?

But they drew an offer within about 2 weeks. And here's what's smart: The buyers worked it. Even though the sellers had shot high and the…

A weird thing to see in a rising market is the phenomenon of short-term holds that are profitable upon resale.

We already noted last month that the midsized house on a half lot at 1560 10th got 10% more than the 2013 price in a resale that closed just 11 months after acquisition. (See this post.)

But that resale, at $1.479M, was practically a lower-tier sale.

Now comes the corner-lot Tuscan at 1603 5th (5br/5ba, 4700 sq. ft.) at pretty much the highest tier for a conventional home in East MB, with a new sale at $2.850M.

Scratching at 3 already?

Why, just last year, in April 2013, the same home sold for $2.575M.

So they didn't really need to worry about whatever led to such a quick exit. (We're not prying.) Ordinarily, you'd think any profit upon…

C'mon, you've noticed it. Some of those afternoons recently have seemed shorter, the light somehow dimmer. The shadows longer.

Summer's glory is pulling back. Soon, our local kids restart school. (Before Labor Day, what?!?)

The last great rite of Summer by the pier is the Catalina Classic paddleboard race: 32 miles in the water starting on the island Sunday morning, finishing throughout the day in MB.

For more than 55 years, this bit of wondrous madness has continued. Come cheer on the finishers Sunday!

Back to real estate, it's true, there has been a steady trickle of new listings over the past several days, but very few actually are leading to new opens this weekend.

As we noted last week, this is the second of 2 weeks as Summer ends where we are…

Call it 6 months ago.

Someone holding a newer ocean-view townhome in MB thought something like this: "Market's hot. Wonder how much I could get for this house?"

And so, the 2009-built El Porto townhome at 312 44th (4br/3ba, 2675 sq. ft.) was listed, as a FSBO, at $2.700M.

That would have been an absolutely extraordinary price, if they could even come close.

We noted in "Double Your Money?" that the same TH had sold new for $1.269M in Jan. 2011. (That post includes more of a deep dive into the original, ambitious, late-bubble project in which this TH was built.)

In February this year, they were looking to more than double their purchase price in 3 years.

Alas, they did not.

The FSBO string played out. Various agents made their pitches to the would-be…