Big Bear Closes at Full Price

Posted by Dave Fratello on Tuesday, September 14th, 2010 at 5:01pm.

Some of the discussion around 2600 Pine (see our recent "Weekend Opens" post) ties back to a bigger question about MB housing stock – are the old, original cottages worth preserving, or are they 'dozer fodder?

A lot of folks have a soft spot for the old little places, and that clearly includes the buyers of 1504 Pine (3br/2ba, 1600 sq. ft.). The listing creatively touted the early-50s cottage as one that offered "Big Bear at the Beach," meaning the quaint home had the feel of a mountain cabin. (Dead on.)

It also had location going for it – a midblock lot on a nice street near Pacific School.

And for that mix of charms and pluses, Big Bear found buyers quickly who loved the flow of the place and were willing to make some updates.

They paid full price: $949k, in a sale that just closed. 

No doubt part of what saved the cottage this time is the depressed spec market. No builders buying average lots, few spec projects in development – that means greater opportunities for buyers who just want in to the 90266 and will take what they can get, and get their hands dirty if need be freshening up a place. That's good for the charm of the neighborhood, while a full-price sale like this one seems a bullish sign for at least this tier of the market.
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