Tracking Two Craftsmen

Posted by Dave Fratello on Monday, January 14th, 2013 at 9:09pm.

1031 Duncan
The Craftsman style is pretty rare in Manhattan Beach, but when you spot one, it's a nice alternative to the usual crop of Cape Cods and Caliterraneans.

Now, 2 of the 7 listings in the Hill Section (29%!) are in the Craftsman style. (Two Craftsmans? Craftsmen? Craftspersons?)

They are 1031 Duncan (4br/4ba, 4200 sq. ft.) at $2.799M and 624 6th (4br/4ba, 3450 sq. ft.) at $3.700M.

And though the homes are similar in several ways, they're different, too.

Both were built by the same builder, and around the same time. (Duncan in 2004, 6th in 2006.)

But Duncan is much larger (+750 sq. ft.) thanks to a basement family/media room. (Per the property website, it's a "man cave" that "the entire family will enjoy." Right. A family room.)

624 6th
Both have an open floorplan and an upside-down layout to feature ocean views. Duncan is way-high-up the hill, so those are big panoramas – they were particularly nice last Friday in the crisp, clean air we had that day. 6th St. is much lower down and near Ardmore, and while it claims "panoramic" views, we haven't seen those yet to confirm.

Locationwise, 6th Street wins in a walkscore. It's closer to downtown, school and the beach, while Duncan is high up the hill and buffered from a large commercial building by just one other home. (Whoops, check that: Both Duncan and 6th get actual WalkScores of 69 out of 100; Duncan must be getting credit for amenities along Sepulveda.)

Duncan is being listed in a conventional manner by a traditional agent, with a gradual whisper campaign prior to the formal debut on the MLS last week.

624 6th first emerged as a FSBO listing, and then hit the MLS via a flat-fee, do-it-yourself listing service.

And of course, the homes are priced nearly $1M apart, with larger Duncan being the less expensive of the two.

There's some historic support for a real price difference between these.

In July 2004, 1031 Duncan sold new for $2.275M.

In May 2007, 624 6th sold new for $3.400M.

So that's a $1.125M difference, with 3 solid years of market inflation in between. The greatest factor is (as ever) location.

It's perhaps most notable, though, that 6th is looking for a boost over 2007's market price – something that is actually happening from time to time, but infrequently.

We'll see how each of these Craftsmen fares as 2013 unfolds.
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