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| 660 33rd
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The history of 660 33rd (5br/5ba, 4475 sq. ft.) is an interesting tour through our market's boom and bust years.
Updated to 2012... since it has just re-sold.
This is a newer home that first hit the market in June 2008
(uh-oh!) seeking
$3m.
Oh, those spec builders were pushing and pushing. And some were…
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| 660 33rd |
The history of
660 33rd (5br/5ba, 4475 sq. ft.) is an interesting tour through our market's boom and bust years.
Updated to 2012... since it has just re-sold.
This is a newer home that first hit the market in June 2008
(uh-oh!) seeking
$3m.
Oh, those spec builders were pushing and pushing. And some were late to the game.
In November 2008, with the price down a trickle off $3m, MBC described it as:
truly not our kind of newbie, but it is vast... and it has its style points. What we find garish about the stonework, others will find opulent.
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| Kitchen at 660 33rd |
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But this huge Spanish-y home never sold, it foreclosed. It went back to the bank. Popped bubble being what it was.
The foreclosure was in
Oct. 2009, which many would mark literally as the
bottom of our market. Afterward, by Q4 2009, things at least flattened out.
When the property came back on public offer in Feb. 2010, the price was at $2.2m.
$2.2m for new construction, call it 4500 sq. ft. with a basement media room, a 600-block location, street-to-alley lot. Right now that doesn't look so bad.
Yet as the vultures swirled, even post-foreclosure, the value of this big, newer home kept going down.
$1.990m is what someone paid in April 2010.
Again, if you don't mind MBC quoting MBC, here's what we said at the time:
[F]or sheer size, there probably won't be a deal quite like 660 33rd for a while, if ever.
Now let's jump ahead 2 years to... right now.
660 33rd just resold. (Off-market, of course.)
A full 2 years after the bank sold this one for about $2m, the home found a new buyer for
$2.475m.
Call that the midpoint between bubble-era
hoo-ha and all those irrational expectations at the end, and the deep-down depths of 2009.
The midpoint. Is that 2012?
At 660 33rd, it is.
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 30th, 2023 at 11:02am 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.
