Quick Deals and Relieved Sellers

Posted by Dave Fratello on Wednesday, February 13th, 2013 at 10:08am.

It seems to be no big surprise that a few of last week's new listings made quick deals. But we've also seen some longtime listings finally get some ink on the bottom line as well. 

We'll look at a few – wait, excuse, I need a drink of water... OK – we'll look at a few examples of each here below.

1829 Laurel (4br/3ba, 3250 sq. ft.) is a 1981 build on a corner lot home in a much-desired part of the Trees near American Martyrs.

This one was memorably described as "aching for a more thorough remodel." We were not able to tour in the narrow window that it was offered to agents to see it, but there was a queue of at least 20 potential buyers clamoring to get in.

The start at $1.970M reflects size and location. Refreshed, it might be valued at $2.3M+.

2104 Harkness (4br/3ba, 3200 sq. ft.) is Dave's co-listed property, a 1990 original that's been very nicely updated.

It began at $1.549M and drew multiple offers.

The sellers are now accepting "backup" offers.

Hold on, just another sip of water. OK, thanks.

1765 Voorhees (5br/5ba, 4125 sq. ft.) is a brand-new Cape Cod just 3 doors off of Aviation.

It came out looking fantastic in online photos (we never visited; it sold too quickly) and priced attractively, given the location, at $2.100M.

Listed Feb. 4, it had a deal by Feb. 8. (See update at the end of thi spost; property is now available again.)

317 27th (2br/2ba, 1475 sq. ft.) didn't make it to open houses, as it happens. (Though we had written it up for our "Weekend Opens" post last weekend.)

Priced at at $1.469M, this one was snapped up instantly. Technically, it's in "backup offer" status, so you'd think they might have held it open for the weekend, but no.

The huge draw here is the favorable position up the hill and ample views. The house is very charming, but barely has 2br and is pretty much original. No deterrent.

Those were the newer listings that went quickly.

But we've also seen a few long-timers finally make their deals.

1210 5th (5br/5ba, 5175 sq. ft.) is on one of the truly unique blocks of East MB, a cul-de-sac once referred to in a nearby listing as the "Fifth Street Forest."

It's a truly huge home, the lot is huge (8500 sq. ft.), but the house is a fixer – an early-90s Spanish that needs a lot of updating.

This one posts a deal during the listing's 8th month on market, with list prices dropping from $2.650M to $2.375M last. 

3308 Pacific (4br/3ba, 3100 sq. ft.) is a quirky 80s contemporary in a subpar location. But the listing had some promise because, when it hit in July last year, it was entering a high-demand, low-inventory segment of the market.

That was 7 months ago. The home has been offered for rent in addition to remaining on the market for sale.

List price began at $1.699M, which might have worked with a more conventional house or a location that had broader appeal. It was down to $1.549M as of last month, and now has a deal.

Making a deal seems to have helped avoid a real indignity – the forever listing across the street, 3309 Pacific, recent made an off-market deal and is in escrow now. (See "Look Who Found Buyers.") 3309 is clearly the lesser of the two homes, so it's good for the sellers here to make their own deal, too, and not be left out of the action on the block.

------------------

UPDATE: Both 1765 Voorhees and 3309 Pacific, which had been in escrow, have returned to active status in the week since this post first went up.

comments powered by Disqus