Bits from the Week

Posted by Dave Fratello on Wednesday, April 22nd, 2009 at 5:15am.

No big trend story here, but a few notable changes on some listings:

Cheap in the Hills: 402 Larsson (pictured), a smallish (3br/3ba, 1800 sq. ft.) fixer on the "wrong" side of Larsson, has a deal – last at $875k.

Big in the Hills: 511 Pacific, a huge home (5br/8ba, 8300 sq. ft.) that we've pointed to a few times this year (see "2 Classy Hillies Down $2m") has canceled about 6 months after first going on public offer. Last at $5.995m.

Dropping in the Hills: 717 N. Poinsettia (4br/5ba, 4175 sq. ft.) is now at $3.449m, down $1.2m from start last November. You're now looking at a unique, incredibly landscaped and private corner-lot home priced $100k below the recent acquisition price of the equally sized lot next door. (Construction now at framing.) Listing now says, "Seller wants property sold!" Watch this one.

Dropout in the Trees, Part I: We really never paid any mind to 2504 Pine, a new home (5br/5ba, 3600 sq. ft.) one door off Marine that first hit the market almost a year ago. Began at $2.149m, last at $2.095m – and no, they were not moving much with the market. It quit this week and who knows what's next there.

Dropout in the Trees, Part II: MBC did recently call attention to 3619 Poinsettia (pictured), at the corner with Rosecrans, a 1950s cottage (3br/3ba, 1350 sq. ft.) that was purchased during the Spring Rally of 2007 for the surprisingly low price of $925k. After a substantial remodel, it was being offered for $1.149m just 2 years later. (See "Flipping for Rosecrans?") The listing has quit after less than a month.

Dropping in the Trees: One of the homes featured in our Tree Section-focused "Deals or No Deals?" story a couple weeks ago is now down a bit. 1813 Pacific has chopped to $1.399m. Not sure if that would have moved it up the list (see the results story), but here's guessing that if it had run at that price in 2008, instead of the $1.599m it began at, there'd have been a line at the door. Meanwhile, the new price puts pressure on comparable 1800 Poinsettia, purchased in June 2004 for $1.320m, now at $1.499m.
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