Lucky 7's

Posted by Dave Fratello on Thursday, September 24th, 2009 at 3:47am.

At practically the bookends of the local market, this week we've seen 2 sales (new escrows) with prices starting with a 7.

One is a $7m home at 218 Anderson, a splendid, sleek estate that actually seemed fine at $10m, where it started in February.

The huge (8br/9ba, 8500 sq. ft.) home on an ocean-view double lot offers all kinds of extras, like 2 masters and almost 2 kitchens (one a "caterer's cooking station") plus a gym and lap pool.

Maybe this is run-of-the-mill in Malibu, the Hollywood Hills or such places, but it's a landmark-type home for MB. See the lucky listing agents' site for this chattily narrated virtual tour. (One click shuts off the game-show-host voice.)

Just to dot our i's and so forth, the actual start price was $9.988m, and most recent price was $6.999m after 2 separate cuts of about $1.5m (see "Some of the Biggest We've Seen"). (Yes, we took a tiny liberty to run with that "Lucky 7" theme; no, we don't have the deal price.)

This is a big-dollar property that will set various records, one of which may, incidentally, be the biggest chop from start.

Now, divide by 10 (almost), and you come to the other sale with a 7, a Tree Section cottage at 3609 Poinsettia, which began last week at $779k.

The smallish home (3br/2ba, 1300 sq. ft.) was referred to in MBC's "Weekend Opens" feature last weekend as "a fixer with a location discount for its proximity to Rosecrans" and "a double deal for the family with elbow grease to spare and the wish to get into MB at the lower end."

The open house was busy and so was the listing agent, eventually posting a deal in less than a week.

Lesson: Keep bringing entry-level homes in at or around $800k, and the buyers will keep coming, it seems.
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