We noted the other day that several weeks had passed in the Hill Section without a sale, and then, boom, two homes near each other on 9th St. sold (916 and 943). (See "Action on 9th.")
Now there's a third sale, almost enough to qualify as a trend: The Hill Section is on fire!
The lucky sellers this time have paid…
We noted the other day that several weeks had passed in the Hill Section without a sale, and then,
boom, two homes near each other on 9th St. sold (
916 and
943). (See "
Action on 9th.")
Now there's a third sale, almost enough to qualify as a trend:
The Hill Section is on fire!The lucky sellers this time have paid their dues –
811 Boundary Pl. has been on public offer for almost
9 full months, since mid-June 2007.
But let's dial back further first. In Sept. 2004, the current owners paid
$1.789m for a property listed as new in 2003.
Just 2 1/2 years later, they sought
$2.599m (+$810k/+45%).And yet, as great as a newer home in the Hill Section might sound, the sellers were repeatedly snubbed. Maybe it's that location, barely up east off of Ardmore, on a tight street facing a series of older, beaten-up Hermosa MFRs. Maybe it was the home itself. As buyers got pickier, 811 Boundary was passed over.
The price came down. Over the months, it dribbled a bit at a time, gradually reaching
$2.199m. (Still
+$410k/+23%).
At the end of March, the last big reduction hit: $2.199m to
$2.099m (+$310k/+17% over the 2004 purchase price). That's where it was when a buyer was found.
Of course, that last price was a big cut off the dream price of last Summer
(-$500k/-19%) and the final price may or may not leave the sellers in great shape. But you know they'll be better off with a sale this Spring than they would have been hanging around any longer.
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 November 30th, 2023 at 3:31pm PST. 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.
