Late-Season Sensation

By Dave Fratello | November 9th, 2011
These last couple of months of the year are interesting for RE sales.

In some sense, it's bargain-hunting season, as we've noted more than once. There are fewer buyers, lower inventory, but the properties that linger into the late Fall can become compelling bargains.

That's the backdrop, but then there are cases where a new listing launches, oddly, in this little window that has a ton going for it and draws a swarm of buyers. What the biz types love to call "pent-up demand" is suddenly unleashed.

800 19th generated tons of interest – in November.
That'd be 800 19th we're talking about.

19th didn't launch because one week into November is an ideal time to launch a listing.

That's just when it was ready. The sellers had completed their move to a bigger, newer house, tidied up and staged the house, and were ready for all comers.

And come they did.

The debut open house for brokers and the public was Sunday, 2pm-4pm. It was a who's-who, a constant stream of agents, clients and curious observers. We heard it called a "huge party" a couple of times. (Is this how teetotalers party?)

All this, for a $1.9m house on Pacific? Yes.

The 2001 build is gorgeous. The layout is somewhat different – the roughly U-shaped structure is oriented southward around a little patio/courtyard with waterfall and koi pond that allows light to pour into rooms on the first and second floors all day. The great room is large, the kitchen fully high-end, the master nicely proportioned with a very classy bath... and so on.

The back yard isn't huge, and there's that Pacific factor looming in the conversation – do I really want to be on Pacific? The house seems well constructed to mitigate traffic noise, but you can't erase that concern.

Mrs. MBC observed, in an almost understated way, "that's a lot of great house for the money." And there were lots who agreed.

Clearly, it's a huge plus to be alone in a market tier, and that's where 800 19th came in. Newer construction, a big house with unique features, obviously move-in-ready, and probably a home that goes somewhat over $2.0m on a different street. It came within reach for a whole new range of buyers because of the location.

Offers came in right after the open house. And kept coming. We're aware of at least 7.

The home's in "backup offer" status now. If you want to bet against that $1.899m start price moving up before the deal closes, go right ahead.

Fall's not just interesting because of the hobbled listings. Sometimes it's because of the rockets.

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