auctions

There are currently 23 blog entries related to this category.

It's like yesterday... just 2 weeks ago.

512 Pacific Avenue Manhattan Beach CAThe Hill Section lot sale at 512 Pacific came to market determined not to waste one minute. And there was no time wasted.

The starting price for this 11,400 sqft. plot was $4.599M, a "come hither" price if there ever was one. (In our blog post, we called the number "a clarion call that echoed across the Manhattan Beach landscape.")

Multiple offers came immediately, the price shot up, and the sale has now closed. My, that was all quick.

Closed price: $5.500M on Tuesday.

Now, what does that say about the neighbor, 500 Pacific, now in its 5th month on the market, priced 14% higher today at $6.280M?

As we said in that prior post, "the lots are the same. Both 11,400 sqft. Couldn't be more comparable unless they…

The masses gathered, $5,000 cashiers' checks in hand. 

2701 Oak Avenue Manhattan Beach CA2701 Oak (2bd/1ba, 900 sqft.), a corner lot on the "right" side of Oak, needed a new owner. All the hopefuls came ready to play.

The jokey $799K start price was there merely in place to fulfill a requirement that an MLS-listed property have some kind of pricetag on it.

The auction, however, set the market level: $1,340,000.

That's reasonably in line with an extremely recent comp: A lot sale at 1405 Oak, listed for $1.249M, drew multiple offers and closed last week for $1.300M.

And 1405 Oak lacked the corner location and boasted only 4200 sqft. of land, 280 sqft. less than 2701 Oak. Clearly 2701 was worth more.

Next stop for 2701 Oak: A court confirmation process. This could result in an overbid,…

There's a long and often silly history behind the efforts to sell 2323 N. Herrin (3br/2ba, 2020 sq. ft.).

But what matters now is that this "Roth-built" 60s original fronting busy Marine Ave. has now actually closed a deal at $1.115M.

They have tried to sell this home in hot markets and cold markets dating back to 2006. Most recently, they tried and failed to sell in 2013 – which wasn't easy.

The sellers have asked as much as $1.350M and as little as the high 900s over that long span of time.

Twice in 2006, the MLS listing officially called the sale an "auction."

Once the listing was very clear that the property would sell to the highest bidder on a specific date – then, no deal. We also have records about a proposed auction at Herrin in Summer 2007.

Oh there are bidding wars, and overbids, and shocking sale prices.

And then there's the case of 1023 Dianthus.

This is a smallish 50s house on a lot that's very small for the Hill Section (3br/2ba, 1250 sq. ft., 4425 sq. ft. lot).

The location is sub-sub desirable. We won't call it an 'F' location, but you know, if there's going to be a grading scale, some properties have to be more at one end for some others to rate an 'A.'

Here Dianthus is a fairly busy street and the corner lot suffers for that. It's in sight of traffic from MBB, and during heavy traffic times, some will dive off MBB onto Dianthus rather than wait for the light at Sepulveda – boosting rush hour traffic on this block. It's also pretty darn far east.

The house itself – you'll see it…