Weekend Opens (9/5-9/6)

Posted by Dave Fratello on Saturday, September 5th, 2009 at 3:35am.

Readers who have been checking for new listings this week via Redfin's MB page or other sources have found very little happening this week.

Labor Day is generally about quitting the market, not joining it. And that means few debut open-houses this weekend for those who are staying around.

But there is a very nice surprise east of Sepulveda, plus a couple others worth dropping in on. The next week or two will see the dawn of the just-in-time for Fall listings...

Click here for the complete list of opens published in the Beach Reporter, or at any time use the link in the right-hand column under "Prop. Search Tools."

As always, click on any highlighted address for more pics & details via Redfin. We ask MBC readers who visit the featured homes, or any open house, to also report back in the comments here. Tell us what you see, what you like and what you don't like.


East MB

If East MB has one thing to highly recommend it, real estate-wise, it's the select few hidden estates nestled in the southwestern corner of the subregion – so near to, yet so far from, Sepulveda.

116 Terraza Place is new construction in one such hidden corner. (Update: Now on the MLS – click address for pics & details via Redfin; clicking here links to an older page with a few renderings.)

The home is called an "impressive estate" in some ad copy and a "private sanctuary" in another writeup, boasting 7br/10ba, 9900 sq. ft. on a 24,000 sq. ft. lot (more than a half acre).

That's a lot of house, more 90210 than 90266.

The builder's website lists a goal of starting at $11m, a defunct MLS entry called for $9.849m, and the Beach Reporter ad & MLS posting this week suggests $10m. Well, it's something around there.

It'd be an honor to check it out. (South of 2nd, take Ronda or Longfellow east of Sepulveda, down the hill to Terraza.)

Open Sun. 2-5pm.


Hill Section

906 9th (6br/6ba, 5300 sq. ft.) is a big, new Mediterranean that hasn't drawn much attention to date here at MBC.

Spacious, elegant, and on a quiet block – sort of a sleeper favorite of ours – the home has plenty to recommend it.

We had heard it was pre-sold back in February, but that deal didn't pan out and it hit the market at $4.9m.

It's down almost 10% now to $4.450m, and now offering builder financing for 75-80% (you put down $900k-$1.1m) at 6.75%.

Open Sat. 1-4pm, Sun. 2-5pm.

The John condos (1106, 1108 and 1110 John) are all listed as open this weekend.

MBC has previously referred to these as "A Surprising Development on MBB" and as the "MBB THs," but we have now realized that "the John condos" sounds best.

MBC readers will recall our (widely shared) surprise when these modern/green rooms with a view – of busy MBB – hit the market at high city prices. 1110 John is now in escrow (seeking "backup offers"), last at $1.250m, down $550k from start.

Both 1106 and 1108 are newly down to $850k each – down from $1.299m and $1.450m, respectively. (For more on the price histories, see "More MBB Surprises.")

All 3 are posted as open Sun. 2-4pm.


Sand Section

It seems like most of the beach-adjacent listings are putting off showings on a busy holiday weekend. That makes sense.

One that will have some foot traffic fairly nearby will be 229 24th (5br/4ba, 4230 sq. ft.), just one door west of Highland and near Bruce's Beach. They'll take all comers.

The home is maxed out sizewise and offers big, big ocean views. Great modern, Spanish details abound.

MBC generally likes the work of these builders, but we can't recall the last one we saw sell – they always seem to be priced a few notches high and then too slow to adjust to make a deal. (A property of theirs at the Strand and 35th went off market recently.)

229 24th is currently priced at $4.499m – that's down a million bucks from the first time we referenced the home in February.

Open Sat. & Sun. 1-4pm.


Tree Section

562 33rd (5br/4ba, 3550 sq. ft.) is the sole new entry in the Trees this week and has debut opens both days.

It's a newer (2003), Craftsman-inspired build in a quiet corner of the Trees. (There's a half-page ad in the BR.)

Purchased new in Sept. 2003 for $1.850m, the home's offered now at $2.199m (+$349k/+19%).

Open Sat. & Sun. 1-4pm.
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