A View to a Hill Sale

Posted by Dave Fratello on Monday, January 23rd, 2012 at 4:18pm.

For 3 months last Summer, you had a shot at a pretty big Hill Section remodel with far-above-average views.

That was 832 1st (4br/4ba, 4275 sq. ft.), which quit the market in mid-September. But it was certain to sell – the owners already had purchased their new property.

We half-expected to see the listing come back after the (Pats-Giants) Super Bowl. But no. It sold right at the end of last year. We just took note of it, since the sale did not post on the MLS.

3 months on market, 3 months off market – and a deal.

So how did the sellers do?

The start price for 832 1st was $3.595m. We toured it with a client while it was being marketed, and the client gave it some serious consideration. Standing outside, we agreed the home made sense at about $3.2m.

The actual buyers got a slightly better deal, paying $3.166m.

That's -$429k (-12%) from the list price, and -$34k (-1%) off our estimate of its value.

In case you never caught the home while it was offered, this was an early-90s home that was recently remodeled (2007) and modernized extensively. There's a French Country elegance to the place, with fine woodworking and stone, bolstered by a 21st century kitchen and master bath, among other touches. (There's a little more in our review from June 2011.)

The views are splendid, covering ocean, PV and (on a clear day) Catalina views from all over the top level. Views span nearly 180 degrees, depending on where you sit or stand.

Some of the views will be impeded some day when the neighbor to the west gets built up, but there will still be plenty left to love. As there should be for $3m+.
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