Marginal Properties, Quick Deals

Posted by Dave Fratello on Thursday, November 8th, 2012 at 1:37am.

If you think the current environment in which properties list and sell immediately is going to last forever, don'tcha kid yourself.

But if you're assuming it's only the very premium properties that go quickly, don't kid yourself on that point, either.

Cases in point include these marginal properties to make deals in the past few days:

2100 Blanche (3br/3ba, 1800 sq. ft.) is an awkward 1940s rancher with a double-whammy location issue at the corner of Valley and Blanche, both busy streets. A noisy 3-way stop is just outside the living room window.

Improbably, the listing describes this as a "Showcase location." That's sales for you.

They also push the large lot size. It's true you have almost 8100 sq. ft. of land here on a semi-trapezoidal lot, nearly twice the size of a typical Tree Section lot. But dream houses rarely spring up in heavily compromised locations.

The old house has been spruced up some to freshen it up for show, but when we visited recently, the cleaning up was still in process, with bits of flooring missing and many dated features obvious.

Still, this listing lasted less than a month at $1.4m.

2702 Ardmore (2br/1ba, 800 sq. ft.) is the house we referred to the other day as "that funny little house on the triangle lot on Ardmore."

And while it shows up as 2br, on tax records it's a 1br with just 498 square feet. An addition of some kind, apparently enveloping the old garage, gives you the extra.

Lots of questions.

So last year, this one didn't sell, given 6 months on market. This year, it had immediate, multiple offers when listed for $675k.

What a transformation: From fuggedaboudit to must-have in just one year.

1603 2nd is for those who like their plots big, their houses from the 70s and don't care so much about being on a busy traffic street.

Technically, the build date on this 4br/3ba, 3875 sq. ft. house is 1982, but it's got the 1970s written all over it. Just like with those brown suits Reagan used to wear... the 70s continued a couple of years into his administration, when those suits – and homes like this – stopped getting made.

What you do get here is a giant plot of land: 13,264 sq. ft., not quite a double-size East MB lot. (The sought-after "big" lots in East MB are 7500 sq. ft.)

The listing came out at $1.750m just 2 weeks ago.

They were so confident that this one would sell quickly, they didn't even bother writing a word in the "description" field.

They were right not to write. They've got a deal.
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