A Twin Makes a Deal

Posted by Dave Fratello on Friday, November 21st, 2008 at 7:28pm.

More than 8 months ago, MBC took note of two brand-new homes, built by the same developer on a split lot, with the same layout but different design features.

We dubbed the pair, 3307 and 3309 Poinsettia, the "Twins in the Trees." (Click for details on 3309 via Redfin.)

It also seemed obvious that The Twins were starting much too high. Both homes are 5br/5ba, 3250 sq. ft. – pretty much the max on 4640 sq. ft. lots – and both started at $2.795m. Newbies aren't generally going for those kinds of prices these days. So we put the subject up for discussion in a poll.

MBC's pricing polls often – but not always – appear to generate quite bearish results. This time, the vast majority of voters erred high. Though most were skeptical of that start price, fully 70% thought the Twins would go for more than $2.2m. (See "Poll Results: Twins in the Trees.")

That doesn't seem likely. 3307 Poinsettia (pictured) has now made a deal, but the last list price was $2.195m. If this one goes through, we won't have a closed price until, perhaps, year-end or early 2009.

Kudos appear to be in order to the 27% of voters who said the price would fall below $2.2m. (That was in March – do you even recall how you voted?)

And congrats are in order, as well, to the builders, who are among the very few sellers to make a deal this November.
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