Open Forum (9/22-9/28)

Posted by Dave Fratello on Tuesday, September 23rd, 2008 at 5:50am.

It could be a coincidence, but this is the week that a couple of listings took big hits.

This being the Open Forum kickoff, your blog author gets license to mention a Hermosa listing.

First, an MB Hillie: 1015 Boundary Pl. first went on public offer in May. This 3br/3ba, 2400 sq. ft. home on an alley started two dimes short of $2.5m ($2.480m).

The home was the putative "winner" of an MBC poll comparing 3 listings, entitled "Who's Most Delusional?" The listing cleaned up, garnering 52% of the vote.

There were no takers. After 4 months, Boundary quit. Monday, it returned at $1.759m. That's a sudden cut of $721k/-29%. We're going to take that as a sign that someone finally told the sellers they were delusional.

Next, an MB-adjacent Hermosa premium property: 3410 Hermosa Ave., a bit of a landmark home if you know North Hermosa, on a big 5,000+ sq. ft. lot, started quite near $8m ($7.9m) in mid-August.

All of a sudden: POOF! went $3m. It's now at $4.995m.

Startling. But as it turns out, the discount is not, in fact, a sudden correction of 37%. The difference is that now you don't get the basketball court (or the adjoining lot).

At least this makes the home more, achem, affordable.

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UPDATE: The original version of this story did not account for the change in land offered with 3410 Hermosa. We'll stick to MB.


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