Launching a listing just a few days before Christmas – that's strange.
But that was the situation at 3121 Alma (3br/3ba, 2600 sq. ft.), an REO that just happened to be ready for the market then. (See "REOs East and West (WoS).")
It launched at $1.147m, a price we called "curiously precise – and very low."
We…
Launching a listing just a few days before Christmas – that's strange.
But that was the situation at 3121 Alma (3br/3ba, 2600 sq. ft.), an REO that just happened to be ready for the market then. (See "REOs East and West (WoS).")
It launched at $1.147m, a price we called "curiously precise – and very low."
We predicted "a little frenzy" for the property, and a "stampede" broke out (as Blake Roberts called it in a post with a fun Photoshopped graphic). A deal was cemented a few days into 2011.
The sale closed Wednesday at $1.425m.
Considering its size, views and condition, we said late last year that "you can readily argue that it belongs in the $1.5-$1.9m range now." If that's your measuring stick, the buyers still wound up with a deal, even after overbidding by $278k to win the bidding. (Blake says it "[d]oesn't seem to have the same sweet deal feel" at this price – so it's official, MBC guessed high.)
Alma last sold for $650k more than this year's price, at $2.075m in July 2006 – before a remodel was undertaken (see video here, from a 2009 sale attempt, but turn down your volume). However, the outgoing homeowners defaulting borrowers removed some of their updates, leaving a less-idyllic home in their wake. Some rehab work was done to shape the property up again – but here's wondering if that mattered at all amid the rush.
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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 May 2nd, 2024 at 2:25pm 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.