Recent East MB Sales Around $1.6mPosted on Thursday, August 9th, 2012 at 4:49pm.
Typical, except where it's not. The home is built into a downsloping lot (are you noticing how common these are?) and, as a result, is replete with little sets of stairs. It's not a split-level home, exactly – all the main living areas downstairs are kind of on one level. It's just that every room downstairs has its own set of 2-3 steps up or down for access.
Typical, except for the 2, not 1, downstairs/ancillary bedrooms. Do you need 2 guest rooms? Or one plus office? Or is this a waste?
The layout, dated kitchen and overall feel of the place were instant turnoffs for a couple of our clients. And the home's 98-day run on the MLS was a near-eternity in a hot Spring.
But they eventually made their deal, dropping from $1.850m asking to $1.699m (-$151k/-8%) in the final sale.
In a review, MBC said "they're really over-hyping this one when the listing describes it as 'wonderfully detailed' with 'stunning' elements." Instead, we called it "a pretty good base for a substantial update," noting also that the location "is something of a drain, just a block from the high school and Artesia."
After a start at $1.679m, they closed 7% lower at $1.565m.
Interesting, is it not, that both homes had to come down 7-8% to find their market in this fairly sizzling market? Anyone can overshoot to start.
We called this one "a slightly confused home showing much of its 1980s vintage, but with some notable updates (like the kitchen) and a big surprise asset... a big outdoor room, complete with fireplace, TV and bar." Very cool feature, newly added.
The home lacks an extra office or bedroom downstairs, with all 4 br upstairs. The master bath desperately needs an update.
This one traded in Sept. 2007, without the outdoor room, at $1.689m. This year, the sellers asked for $1.599m, and came very close, ending up at $1.585m.
That one officially sports a 1992 build date, but what we think we see is a massive addition/rebuild from around that time. Inside the home has a newer kitchen and other updates. They listed at $1.499m, but it was quickly bid up and will approach $1.6m territory if all goes well.
Current, comparable inventory is limited to 1521 Curtis ($1.599m) and 1324 Marine ($1.485m).
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