There are currently 17 blog entries related to this category.
Monday, June 17th, 2013 at 3:30pm. 198 Views, 0 Comments.
There's something about being west of Highland.
Even if you're on Highland, apparently.
We say so because the newest closed sale to cause foreheads around MB to be slapped is going to be 232 30th Place (3br/3ba, 1375 sq. ft., on a half lot).
They didn't pitch this little former duplex as a dream house back in early May when they put it on the market. No, it was the "[b]est value in the sand section."
Maybe at $1.250M, the start price.
But then came the bum rush. Multiple offers again. "Must have" echoing among the masses gathered to spend, spend, spend.
Closed sale price: $1.361M, or +$111K (+9%) over asking.
Of course the buyer paid all cash. Doesn't everyone?
As we noted in our review around Mothers' Day:
[It] feels like a…
Monday, May 20th, 2013 at 1:01pm. 190 Views, 0 Comments.
Ready for another shocking overbid? Or maybe we don't get "shocked" anymore?
725 12th (3br/2ba, 1325 sq. ft.) is a nearly perfect little beach cottage inside, in a location that affords a quick walk to downtown, church and elementary school.
We said in our review:
It's a great example of the most you can do to a little 1950s cottage. Wide open, high ceilings in the great room, a modern kitchen – with marble, not granite – and attractive baths.
Those "must have" qualities sparked a bidding war when the home came out in April at $1.399M. Multiple multiples again.
What would happen?
First, look back. The same property had traded in very nice condition in 2008 at $1.187M, after a start at $1.400 and 100+ DOM.
But that was 5 years…
Thursday, May 16th, 2013 at 11:35am. 470 Views, 0 Comments.
It was almost 2 months ago that one of the more amazing Spring bidding wars broke out.
That was at 1312 Walnut (3br/3ba, 2100 sq. ft.) a remodeled (and added-onto) 1950s cottage in a nice location on a corner near the elementary school.
This one launched at $1.599M, which seemed clearly to be pushing the limit for the property.
After multiple-multiple bidders came in, it went 10% higher.
The newly closed sale price: $1.760M.
We had said shortly after the deal posted: "[T]he sale price here will simply shock you when it closes. Imagine what's the most you'd think it could go for. Then add. Then a little more. Wow."
We can still say that pretty comfortably about $1.760M, but word is they had an even higher bid in place at one…
Monday, May 13th, 2013 at 11:59am. 265 Views, 0 Comments.
They've just closed an above-asking deal at 2417 Crest (3br/4ba, 2300 sq. ft.), a rear-unit TH with great ocean views.
This is a bigger-than-standard TH at 2300 sq. ft., and they sought a bigger-than-standard $1,090/PSF when they first put a sticker on the home.
But those views, and the distinctive stlying, brought many suitors. And when that happens, prices jump.
In this case, from $2.499M to $2.575M, with an enhanced PPSF of $1,123/PSF.
This home, a 2002 build, got a thorough re-do with panache in 2009, and it's got several signature elements that stick with you.
Two unique features jump out: The long (14' long) built-in, modern dining table stretching from the kitchen – a bold statement that defines the home as an entertaining space.…
Monday, April 15th, 2013 at 12:55pm. 269 Views, 0 Comments.
Is the frenzied real estate atmosphere we're seeing almost everywhere today inflating a new bubble?
We liked seeing that Redfin, a consumer-friendly real estate firm if there is one, took on that question with some nerdy – but accessible – analysis. (Click here for Redfin's report.)
Redfin's conclusion: Mostly no bubble, but maybe a "mini-bubble" in some markets. Otherwise, the elements that overinflated the last bubble are absent.
Instead, Redfin sees a more classic supply/demand imbalance driving prices up. They don't see the same kinds of off-kilter factors breaking home values away from fundamentals as we saw last round. They even summarize their take in this handy chart:
So buyers are more real, credit is reasonable or tight – if cheap…
Wednesday, February 27th, 2013 at 11:01am. 504 Views, 0 Comments.
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Buy it or rent it? That's a conventional question.
Sometimes a property is offered both ways, and the consumer can make the choice.
Take 3521 Walnut (5br/4ba, 3250 sq. ft.), which sold for $1.435M just 14 months ago, and hit the market this year with big ambitions: a 30% markup to $1.850M.
It's down a little now to $1.769M, but they've got a backup plan. It's for rent at $7K/mo. (See the rental listing here.)
That poses a straightforward choice: Do you want to park at least $350K in a down payment and…
Friday, December 21st, 2012 at 4:30am. 316 Views, 0 Comments.
It looks like we can call 1201 Lynngrove (3br/2ba, 1975 sq. ft.) the last of 2012, unless some true shocker emerges in the next several days.
You know the drill by now, we suspect:
- Attractive, turnkey property
- High-demand market segment
- Occupying the field alone
- Priced reasonably
- "Deadlines" announced for bids
- Multiple offers
- Sale over asking price
So bravo to the sellers here. They had something people wanted. (Check out our weekend review.)
They put it out at a very strange time of year with a demand for immediate offers that would have sounded utterly absurd 12 months ago. (A fair paraphrase would be: "We know it's mid-December, but get your offers in…
Tuesday, November 20th, 2012 at 3:08pm. 394 Views, 0 Comments.
And what if it needed some updates to be fully realized?
How 'bout nearly $1.9m?
You can't call 2301 John (4br/3ba, 2600 sq. ft.) a "fixer," exactly, as it's nicely livable now.
But you have to look at it with some kind of vision. The midcentury modern floorplan flows nicely, but the kitchen and baths could use a little work to come into the current moment.
Heck, the outgoing owners bought this house 10 years ago with plans to scrape the house and start over, only to decide: Hey, we can make this work.
The location drove a frenzy this year.
As we noted in a post last week ("Two Other 'Auctions'"), the start price of $1.519m was "absolutely wiped out in a bidding war" that saw…
Wednesday, November 14th, 2012 at 6:28pm. 227 Views, 0 Comments.
There are 2 other recent sales which were effectively auctions – bidding wars, if you will. No yellow bidding placards here, just a swarm of offers and some kind of "process" to sort them all out in favor of the biggest and best.
512 4th (4br/2ba, 1920 sq. ft.) is a major fixer or (most likely) lot sale in the South End, adjacent to – but not on – one of the area's treasured walkstreets.
It came out in late October asking $1.369m.
That was an eminently sensible price for a non-walkstreet property. The obvious comp was 521 2nd, a house in superior (though dated) condition, which sold in May for $1.370m.
Dave guided clients to success in a bidding war for 521 2nd without…
Thursday, August 16th, 2012 at 2:13pm. 184 Views, 0 Comments.
Both first made deals in June, and closed this week.
We mentioned both in "Rockets in the Trees" back in June. Here's how they wound up.
The sellers drew multiple offers on a list price of $1.299m.
Dave had clients in the mix, and here's what we were all thinking at the time: Why not try to price it right? Why go low? You just incite yet another bidding war, with all the mystery and fear and dashed hopes that brings.
It was challenging…