A Tree Section house partly covered in ivy, featuring barred windows and gold shag carpeting, has found a new owner. The deal price:
$995k.
That's really just the start of the issues we found over at
3100 Laurel (4br/3ba, 2100 sq. ft.). When escrow posted in early March, we said the home "has almost too many flaws…
A Tree Section house partly covered in ivy, featuring barred windows and gold shag carpeting, has found a new owner. The deal price:
$995k.
That's really just the start of the issues we found over at
3100 Laurel (4br/3ba, 2100 sq. ft.). When escrow posted in early March, we said the home "has almost too many flaws to count," with a layout we said was "shockingly awkward," partly due to the mid-level garage. (Bedroom, bedroom, closet, garage.
What, garage?)
We had previously called it "a major project that shows every bit of its mid-60s vintage," and said "[i]t'll take a visionary."
But we also viewed the inclined lot as poorly suited to development, imagining that this would be a remodel at some point. We remain eager to see what someone can do with it.
Going back, back, back to September last year, we were also astonished to see 3100 Laurel start at $1.399m. At the time, the (first) listing called the home a "diamond in the rough" and a "tropical paradise," suggesting that it needed only "some TLC."
Sometimes, you really can't believe what you read – and you shouldn't believe that the price tag means anything at all.
On our first tour of the property, the (first) listing agent did not attempt to justify the start price. She intimated that the seller would be considering a reduction if it didn't sell quickly.
Well, yes, that had to happen, but if you aren't frank enough to say "you're asking me to price this property 30% too high," you won't be around when a deal is finally made. And she wasn't around when Laurel sold for 29% less.
It's an odd house with uncertain potential, north of Valley and steps away from Pacific. We keep mentioning the issues with the house for one reason: A sale price just short of $1m is actually a decent sign for the immediate neighborhood, which also includes a recent sale at
2920 Laurel, a sharp remodel of a 2-level, traditional home (3br/2ba, 1875 sq. ft.) that closed for
$1.249m.
Also looking at 3100 Laurel as a sign:
3201 Laurel (3br/2ba, 1650 sq. ft.), a 50s cottage that has lingered since November, now asking
$1.124m, right in the middle of these 2 neighbors pricewise. When will they get a bite?
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 December 1st, 2023 at 10:15pm 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.
