It seems like several characters in our local real estate drama want to get noticed this week.
In the Hill Section (kinda), a 1950s-vintage house on an odd "flag lot" at 612 11th has hit the MBC radar twice in the past year or so.
In April 2007, the owners tried – oh, they tried – to sell the home for less than $1m;…
It seems like several characters in our local real estate drama want to get noticed this week.
In the Hill Section (kinda), a 1950s-vintage house on an odd "flag lot" at
612 11th has hit the MBC radar twice in the past year or so.
In April 2007, the owners tried – oh, they tried – to sell the home for
less than $1m; actually
$975k, to be specific. They failed. A bidding war broke out, and it went for $300k more.
The new owner apparently spiffed up the home a tad and rented it out, but several months later decided it was
flippin' time. On Feb. 20, 612 11th hit the market at
$1.599m. (See "
Flag It As Overpriced.")
We wondered if maybe they were kidding. They weren't. No improvements, a 10-month hold, and suddenly a 25% ($325k) increase in value?!?
Here is what is great about
612 11th – the flag lot, which is sort of a way of saying the location. You're surrounded by other people's yards. It's quiet. It's near downtown.
But the house is a bit of a dog, and the current owner overpaid.
This is not just MBC's view, it's the owner's view, now, too. On Thursday, the price dropped to
$1.199m,
$76k less than last April's purchase price.
A year ago, the owner won the bidding war. Or maybe lost.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 18th, 2024 at 7:30pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.