The Vision Thing

Posted by Dave Fratello on Tuesday, June 21st, 2011 at 4:34am.

Sometimes, the home they're selling isn't the home you'd want. But imagine the possibilities!

(Don't look over here, look over there.)

One of our favorite sub-genres of listings is the home that comes with plans for something different.

MBC looked at this phenomenon quite a while back in "They've Got Plans," featuring 3 separate listings that touted plans for future new builds or remodels on the properties.

As it stands, 2808 Manhattan Ave. (4br/4ba, 3300 sq. ft.) didn't sell with the plans, but did sell after the (awesome) new modern was completed.

The lot w/ plans was offered for $1.799m in 2008, while the completed home sold for $2.9m in January this year.

626 Rosecrans was a little 1br/1ba, 600 sq. ft. home that was surprisingly spiffy, clean and well-staged when offered in '08, but it was 600 square feet! 

Progress demanded more, and the sellers knew it, so they offered "plans for a large 2000sf addition" with the property. 

Though the snazzy shack sold for $772k, the plans were ditched – just like the shack – and a completely new home was built instead.

Much more recently, 432 10th (3br/4ba, 3015 sq. ft.) hit the market (April 2011) and inspired a minor fervor.

MBC called it "a near-perfect execution of a walkstreet home, with its entire first floor dedicated to entertaining, flowing out to a big front patio and all the walkstreet action." The home's extremely close to downtown and featured a somehow Craftsman-inspired, Hawaiian-Caribbean style that is beautiful, casual and boundary-breaking. Terrific.

Oh, but there was this problem. 

With just 2 stories and 3br, the home failed to maximize the lot and didn't have enough sleeping space for most potential buyers.

This became a drag on the potential sale, so the sellers went out and got specific plans and construction cost estimates to add a fourth bedroom. The pitch for the home was amended to feature this in all caps (WHY ARE YOU SCREAMING?) at the beginning.

And guess what? The home found a buyer. Last list: $2.599m.

Now we turn to what may be the toughest case of this bunch.

2920 The Strand (7br/7ba, 5675 sq. ft.) last traded in July 2006 for $9.0m.

The big home on a corner lot-and-a-half has been offered for sale, without much seriousness, almost constantly since June 2009. That's almost 2 full years with just about 5 weeks off. (See last October's "Current DOM Champs.")

We've previously described 2920 The Strand as "a home with some virtues (location! size!) but plenty of issues." It's currently offered at $10.995m, basically $2m over 2006.

Now the listing points to an architect's video rendering of a reimagined 2920 The Strand.

The video purports to ask and answer the question: Wouldn't this home make a great, totally different home?

Maybe so. Meantime, there's certainly some credit due here for going much further merely referencing "conceptual plans" in a listing description.

Now about that $11m asking price...
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