Cutie's Gone, Not Sold

Posted by Dave Fratello on Monday, September 1st, 2008 at 3:40am.

About 3 weeks ago, we heard a buzz developing about a new Tree Section listing – 1308 Elm.

It was coming on the market at $1.2m and was pretty cute, with decent square footage for an old cottage. (Hence "Cutie.")

Maybe it would be the perfect starter for a sidelined buyer waiting to get into MB.

Might it go quickly as a result? Or would a slowing market take its toll?

MBC tried a different kind of poll: Instead of asking readers to guess the right price, we asked you to guess how long the home would remain on the market. (See "How Fast Will Cutie Go?")

You may have noticed how the question we called contained the assumption that 1308 Elm would sell.

Well, if you voted in the poll while sharing that assumption, you can crumple up your bet tickets and toss them on the ground.

You see, Cutie went fast, but not like we thought she might. Pulled up lame on the first turn, in fact.

1308 Elm has been rented, so the listing canceled with 18 DOM.

The winners in our poll were the tiny minority of 12% who said Cutie "Won't Sell." (See complete results in "Sorry, Cutie.") They were right in a big way.

It's worth noting again that this home was purchased most recently in Sept. 2003 for $840k. (See the first story for the full recent sale history.) Were it to have sold for anywhere from $1m-$1.2m this time, the owners might have taken a nice profit away with them. Instead, they'll hold it a while longer.
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