If 2006 and 2007 were pretty much the end of the bubble years, one question would be: When are those prices coming back?
On one prestige block of the Marytrs neighborhood of the Tree Section, 2007 isn't just back – it's been topped with a resale of a property for
13% more than its 2007 acquisition price.
|
624… |
If 2006 and 2007 were pretty much the end of the bubble years, one question would be: When are those prices coming back?
On one prestige block of the Marytrs neighborhood of the Tree Section, 2007 isn't just back – it's been topped with a resale of a property for
13% more than its 2007 acquisition price.
|
624 14th |
624 14th (5br/6ba, 5765 sq. ft.) is the subject here, a home we called "a ginormous, newer Mediterranean in an A+ location."
Getting all gushy,
we added: "Elegant and kind of fun, this one is a pleasure to behold."
Part of the charm is the abundance of outdoor living spaces – a big front patio, a center courtyard and a cabana out back by the pool and jacuzzi. And if that's not enough, there are 5765 other square feet inside to hang out in.
The home is opulently decorated and gets a bonus basement home theater.
We could go on, but you may get the picture without that.
Despite all these pluses, we heard polite grumbling at the first brokers' open house to the effect that the $5m asking price was out of range. "This is a really nice $4 million dollar house," one broker said softly.
In MBC's review, we said that a price near $5m "would really be something categorically new, even for Martyrs."
Well, here it is, something "categorically new." The new resale, posted Wednesday:
$4.900m.The home had been acquired new in March 2007 for
$4.350m, making the markup this year
+$550k/+13%. Yes, we should try to account for any costs of customization – the pool, theater, décor here and there. That $4.3-ish house had a lot more into it before it hit the market this Summer.
But whatever market value 624 14th lost during the local market decline sure came back with a vengeance.
And reasonable skepticism about stratospheric prices was dealt another blow by the action on the ground in 2012.
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 March 19th, 2024 at 4:10am PDT. 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.