Good-News Neighbors

By Dave Fratello | May 5th, 2010
It was odd when 2 neighbors on the Hill Section's Highview listed on the same day in mid-February.

A total coincidence. Not the same owners. Not the same agents. Not the same styles of homes at all.

But 925 Highview and 929 Highview shared their fates in another way – they made deals within several weeks and closed just a week apart.

925 Highview (4br/4ba, 2000 sq. ft.) is a smallish, very well redone 60s home (plus guest house) behind private gates and with those high-upon-the-hill ocean views.

The lot isn't big at 5,250 sq. ft.

925 began at $2.095m in mid-February and ran about 7 weeks before making a deal for asking (actually $2.1m).

929 Highview (4br/4ba, 3550 sq. ft.) is substantially bigger than the neighbor, and worlds apart in style.

The local architect who custom-designed the ultra-modern home nearly 20 years ago obviously had a forward vision. The exterior remains striking, while the interior's sense of height and abundant light and openness keep it all fresh inside.

The home was recently remodeled as well by the current owner, who paid $2.280m in Aug. 2006. That included a kitchen makeover – high-end stainless appliances, of course – and lot of other details from bath fixtures to carpet to custom paint.

929 started ambitiously at $2.895m, but closed nearly $450k lower at $2.450m.

That makes 929 Highview an interesting case where a 15% chop from start took a few weeks, not several months, once a buyer knocked. As they say, you never know what the seller will take till you put in an offer.

That closed price is +$170k/+7% over the 2006 price, perhaps recovering the remodel costs, perhaps not.

With both Highview homes sold, now the challenge is to keep the moving trucks from bumping into one another.

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