Close the Books on 742 27th

Posted by Dave Fratello on Monday, April 14th, 2008 at 5:51am.

We have results now from a sale on a home that was the subject of a prior MBC pricing poll.

At the time we featured 742 27th (see our story from late January), it was already pushing 4 months on market and had been marked down $300k (-12%) from its start at $2.4m.

The listing lingered for another month or so after that, dropped to $1.999m, and then went into escrow twice (one apparently failed).

The final price, closing last Friday: $2.075m, actually higher than the list at the time. (Someone pulled a rabbit out of their hat.) That closed price was only $25k below the price at the time of our poll.

Most of our poll respondents were much more downbeat about the home's pricing prospects – just 16% guessed right, that the home would sell within 5% of its adjusted $2.1m list price. (Click for the story on the poll results.) The bulk of voters thought it would wind up between $1.75m-$2.0m.

We'll remind you that MBC liked 742 27th quite a bit. It's a spacious and classy home in a quiet Tree Section location with a nicely integrated Great Room/Back Yard combo and terrific upstairs bedrooms. The sellers had upgraded the home inside so completely that it befitted comparisons to new construction in the area, in our view, though several readers disagreed, citing low ceilings and the exterior as the main beefs.

In comments on the first story, we also saw a baffling controversy emerge over whether the back yard fence was somehow violating the property line. (It wasn't.) At the sellers' request we addressed the issue directly after a survey confirmed there was no problem, and now thankfully (for all) we see that the confusion did not, apparently, cause much harm.

This is the first home that was the sole subject of a pricing poll to close. (Click the "label" of "pricing polls" in the left-side column for all of the stories to date.) The others still on the market are:
We'll gear up for another poll soon.
comments powered by Disqus