Recent Tree Sales Around $1.6m-$1.8m

Posted by Dave Fratello on Wednesday, August 8th, 2012 at 4:56pm.

Last week we discussed what you might get as an entry-level or "starter" home in the Tree Section.

So what if you're beyond "starting?" What if what you really want is a full-fledged, sizable family home for a budget well above $1.5m, well below $2m?

There's a little cluster of $1.6m-$1.8m-ish houses that have sold recently to give you some sense of what's been available.

Curiously, most have got their oddities and imperfections. For nearly $2m. Wow.

Today we'll look at the Tree Section, and later East MB, the 2 most common "suburban" areas of MB where families wind up purchasing.


Tree Section

2409 Elm (4br/3ba, 3150 sq. ft.) is a late-90s build that has been refashioned with something of a beachy, Cape Cod-type of style. It's just a few doors up off of busy Marine. 

Some surprises: The layout is "upside down," with living spaces on top, not so much because of the views (treetops to the west) but because the downsloping lot forced a choice, and the builder went with living spaces upstairs and high ceilings.

Also surprising, the home is functionally a 3br, with a 4th large bedroom on the (top) living level working best as a separate family room. Yard surprised us to the positive, a little bigger than expected.

The home has been upgraded and customized nicely since its 1990s construction, but it still feels its 90s vintage anyway – some of the arches within the rooms, the half-moon windows, even the wallboard... they're fine, just showing evidence of the era. The kitchen cries out most for an update.

Whatever the combination of pros, cons and puzzles, this one went fairly close to asking. They began by seeking $1.799m, and just sold for $1.725m (-$75k/-4%), having run about a month on market before accepting an offer. 

Worth noting: This year's price was in reach of the peak-year (2006) trade at $1.750m. There were some upgrades between 2006 and 2012.

2417 Elm (4br/3ba, 3450 sq. ft.) is a neighbor with a notable location downside of being right along Marine.

However, here the builder did not go with an upside-down layout, and the updates were much  more recent on this 1981 original. (In fact, the listing called it "[c]ompletely remodeled from the ground up... the perfect blend between Modernity & Warmth." We never saw that one, so we'll have to take their words (and pictures) for it.)

A year ago, they were pushing for $1.9m for this remodel. The listing took some time off, came back this Spring, and just closed for $1.639m (-$256k/-14% off last year's asking, FWIW, and -$60k/-4% off this year's start in May).

3008 Poinsettia (4br/4ba, 3525 sq. ft.) went the other way compared to the 2 sales mentioned above – it went over asking, by a notable amount, in a quick sale.

Perhaps that's because this one is on one of THE sweet blocks of the Tree Section. (Location...)

But the home is not without its question marks. This one makes 3 in a row we're discussing that were built into a notable downslope, and with its own layout quirks resulting. It's almost a 4-level home, with the kitchen on the middle (entry) level, family room downstairs, separate, and the bedrooms on both a third "middle" level and the top floor.

To the positive, the kitchen was updated 4 years ago and some key baths are brand new, very sharp.
The master is quite large, with high ceilings, a big walk-in closet, nice views out to the front, and a splendid, fully modern, large bath. 

MBC predicted in a review, "Someone will be fine with this layout, love the yard, and will say 'must have.'"

Right-o. 3008 Poinsettia began at $1.725m, and got bid up to $1.830m.

3409 Maple
3409 Maple (4br/3ba, 3200 sq. ft.) sold off market in late June for $1.825m, a substantial tick above the prior, Aug. 2008, sold price.

(That sale price was $1.722m if you go by the MLS, $1.679m if you go by public records. The buyer represented himself in 2008 and the listing agent apparently "inflated" the reported sale price "as if" a buyers' agent commission had been paid. We still hate this practice.)

It's a 2000 build with a conventional layout, great room in back, modest yard on a 4640 sq. ft. lot. The location pretty far north got our attention most with that $1.8m+ sale price.

721 27th
Most recently, we saw 721 27th (4br/3ba, 3450 sq. ft.) go into escrow off-market, with a reported price (so far) of $1.675m. It's a 1980s house with updates in a pretty great location – a flat portion of a block that has a hill rise nearby.

Dave was among those chasing the property on behalf of clients once it was being discussed pre-market, but a buyer swooped in immediately with an all-cash offer, clearing the field at once. The property was barely exposed. Do we think it will go above asking? Could be.
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