Flashbacks from '08

By Dave Fratello | May 20th, 2011
What kind of difference does 2-3 years make?

In recent days and weeks, we're seeing at least 3 listings hit the market that last sold in 2008, each with a not-insubstantial history at MBC.

Do they want more, or less, than their 2008 prices?

532 6th (4br/4ba, 2750 sq. ft.) is a high-concept modern that manages to be warm and family-friendly, too, though some spaces are cramped. Even with the Valley-front location, we've had a soft spot for this one somehow. We could rave a bit, but let's save that for another time.

The home sold for $1.818m in March 2005, tried (and failed) at $2.7m in late 2007, and eventually sold for $1.820m in Oct. 2008 – yes, just $2k above the 2005 price.

Just over 2.5 years later, 6th is back at $1.989m to start, a markup of $169k (+9%). 

742 27th (4br/4ba, 3550 sq. ft.) is a late-80s build that struck us last time as pretty special. We even ran a pricing poll on it. (Remember those?)

The 2008 listing called the remodeled home "better than new." While we explored that label critically, we tended to see it as accurate. In 2008, it showed really well, the layout seemed friendly and only the exterior seemed to need help. (See our story here reviewing the property and setting up the poll, and this one with the poll results.)

Ultimately the home traded for $2.075m in April 2008.

It's back now asking less: $1.999m (-3%).

Some longtime readers will remember a little controversy that bubbled up over 742 27th. A commenter reported hearing that there was a problem with a fence crossing a property line. MBC published a story refuting that. (See "Fence is Alright at 742 27th.")

Currently the home doesn't show as sparklingly as we recall from before. But it's still a huge and updated house with a good floorplan in a good location. One of these days someone will help the outside to properly advertise the inside.

462 36th Place (2br/2ba, 1200 sq. ft.) seems like a ghost we conjured.

It was just last week in "Under $800k in the Sand" that we happened to mention this home. We don't get to write about SFR sales in the Sand under $800k much, because they virtually never happen. But, once upon a time, 462 36th Place was one – in Aug. 2007, before a sorta remodel.

Our coverage was not complimentary. Around Thanksgiving 2007, we advised readers to give thanks that they did not live here. (See "A Real Turkey.") 

In Nov. 2007, after a quick remodel, the new owner, who paid $760k, tried to get $930k. In Aug. 2008, they got $825k, which might have paid for the costs of holding, remodeling and costs of sale, or maybe not.

The newer version of 462 36th Place seems to have had some additional work. They're up there asking $925k (+$100k/+12%) to start.

So look at these 3 flashback properties as a bunch.

All 2008 purchases. The best of the bunch wants 9% more than 2008. The middlest wants 3% less than '08. And the lowest-priced and most, er, acquired taste of the bunch wants 12% more.

Can anyone get more than a 2008 price here as Summer 2011 approaches?

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