When bidding wars break out, as we've seen a few times this year, you know a couple of things:
- It's not a depression everywhere; and
- Sellers have gotten some kind of message, maybe something like, "don't play around."
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| View from 636 9th
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It's certainly not 2009…
When bidding wars break out, as we've seen a few times this year, you know a couple of things:
- It's not a depression everywhere; and
- Sellers have gotten some kind of message, maybe something like, "don't play around."
|
| View from 636 9th |
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It's certainly not 2009 anymore in the Hill Section, where 636 9th, a lot sale, just closed for $3.6m – a marked step up from a start at $3.0m.
This is a 9425 sq. ft. Hill Section lot with "ocean view potential" that lasted only a week.
As we first discussed in a South Bay Confidential column, the bidding war that broke out over 9th included neighbors looking to protect their own views. Turns out, what they feared most was that view "potential" being realized by a new owner.
In the end, it was the neighbors who prevailed, paying more than others who might have liked to pay to build a dream home for themselves.
Meanwhile, 1720 Poinsettia (4br/4ba, 2700 sq. ft.) debuted in late October, a slow time, but the listing became an instant sensation.
MBC said, in our "Weekend Opens" review, "Certainly there will be interest; a quick deal isn't out of the question."
The nicely done remodel came on at $1.499m, a sweet spot of sorts in the Trees. Below $1.5m, you get a certain kind of home (less square footage, lesser location), while above $1.5m, you may expect a newer home, or a good combination of size, style and location regardless.
This one offers a pretty good location, even if Poinsettia is a minor thoroughfare, and the home is bigger than even that official 2700 sq. ft. in the listing suggests – a garage has been fully converted into an extra suite with bath.
The home drew immediate interest – as it was priced to do – and sold for a notch higher: $1.575m, logging just 9 DOM.
As the year draws to a close, MBC will include these 2 sales in a wrapup on the bidding wars we've seen this year.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of December 9th, 2023 at 3:30am PST. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
