It was a long-planned sale.
It was a delayed sale.
It was a rush.
All of those things were true of our recent listing, and sale, of 3208 Agnes Rd. in the Tree Section.
Background and Buildup
Our clients custom-built this landmark home, completing it in 2016.
(We told some of the backstory in "A Great Sale Never Made," referencing our clients' decision to build new instead of buying from available inventory way-back-when.)
Early this year, our clients realized this might be the year to sell. We met. We all put a pin in it, and kept in touch.
Months went by.
"Not right now... we're still looking at it... maybe, if... so busy with other stuff... we should know more this Summer..."
Then, in late July: We've decided. How soon can we meet?
This call kicked off a frenzy of activity.
It ended with a closed sale just 6 weeks later.
Sure Looks Easy
When you're on the outside looking in, a nice house, nicely presented, nicely photographed, listed for sale, should be easy on the eyes.
That means everybody responsible for the marketing did their jobs.
For 3208 Agnes, our calendar, and all the work, was uniquely compressed.
We don't want to list in the depths of Summer, but something near Labor Day could make sense. As long as the schools are back in session (August 20th this year), you have a somewhat more normal market.
We knew that 3208 Agnes was magazine-worthy. We always planned to get it on the cover of South Bay DIGS magazine, which includes a feature story and several more photos.
When was the next DIGS cover available? August 22.
That date created our whole schedule.
Move, Paint, Fix, Clean, Stage - All At Once
To have photos ready for DIGS, we needed to have photos by August 13th.
This meant just about 2 weeks to get ready.
Our sellers had custom-built 3208 Agnes and lived there with their family for years. Though they had mostly been spending time elsewhere, their whole lives were still at Agnes. LOTS of stuff.
But the schedule dictated: Get out ASAP.
If you had to, could you move your whole life in about 10 days?
Our office helped coordinate a maelstrom of preparatory activity. After much blood, sweat and tears (not too much blood, thankfully), the house was ready.
The day before staging was to be done, our designer asked, skeptically: "Are you sure it's ready? Everything's out and the house is clean?"
Yes!
(How dare she doubt us all!)
Two days later: Photos.
8 days later:
- Live on the MLS.
- DIGS arriving everywhere.
- LA Times "Hot Property" featuring the home.
Interest Runs Hot, Offers In Fast
We've had popular listings, but it's hard to compare most to what we had with 3208 Agnes, and the public reaction. The open houses were surely our busiest this year.
The list price of $5.895M was going to limit who could actually offer, but we had plenty of solid interest.
In the end, 3 strong offers materialized.
They competed, with a cash offer coming in at $6.250M, to close in 12 days.
(Moreover, the buyer was not asking for buyer agent fees from the seller. You could argue that the price was "like" an offer over $6.400M, when considering the sellers' net.)
Having just scrambled to get the house ready, now the sellers needed to get fully out in no time flat. They were motivated. They did.
It was 6 weeks from our "decision" meeting till the closing date.
Sale Is Tops for PPSF in the Trees
No Manhattan Beach Tree Section home of a comparable size to 3208 Agnes has ever sold for a higher price per square foot.
Here, we define "comparable size" as a standard-sized lot and 3000-4000 sqft. house.
Based on the purchase price of $6.250M and the 3505 sqft. interior space, 3208 Agnes hit $1,783/PSF.
If you want to consider the value to the seller as more like $6.400M – due to the aforementioned lack of a request for the seller to pay the buyers' agent – the PPSF is actually over $1,825/PSF.
One recent sale nearby on new construction at 640 29th (5br/6ba, 3357 sqft.) edged close, at $1,713/PSF.
The high price for Agnes is a testament to the extraordinary style, detail and one-of-a-kind nature of the home. Its west-facing corner lot, with an alley behind it, only added to the must-have qualities.
Did the buyer pay too much?
Ask the backup buyers, who decided (a bit too late) that they would have paid more.
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.
