More Low Listings Go

By Dave Fratello | November 12th, 2013

Was it just Friday when we were talking about the limited number of sub-$1M listings?

There are fewer now, with new deals posted.

Even a $1.4M property that seemed to us to be "unlikely" to find a suitor at that price found a buyer quickly.

Downsloping lots were all the rage these past few days:

1554 2nd (3br/2ba, 1300 sq. ft.) offers 3br and a 5000 sq. ft. lot on one of the busier streets in East MB.

If you saw this one as an immediate "must have" type sale, good for you. You've got your finger on the pulse. This one racked up all of 4 DOM.

One attraction was surely that this one came out under $1M.

As of last week we noted that it was one of just 3 listings of SFRs in MB under $1M, all of them priced at $950K. (OK, $949K in this case.)

3521 Poinsettia (2br/2ba, 1675 sq. ft.) was perhaps the greater surprise, listed at $1.400M

That seemed not only like a lot of dough for 2br in a subpar location, but the home's got a shared driveway with the neighbor and that downsloping lot to contend with.

And marketing-wise, this one defied the rules. First, they decided to stick it to the man: just 2.0% for buyers' agents, not the standard 2.5%. They offered few and poor photos, one of the street with a FedEx truck and driver featured. The description was brief, in ANNOYING ALL CAPS and with a misspelling, seemingly the expected norm. Plus, this one is a bit tougher for buyers – it's completely as-is, no repairs, etc.

It ran 8 DOM.

And here we'd gone out on a virtual limb at MBC and said 3521 Poinsettia seemed "very unlikely to hit its moonshot target." (Alas, you learn, as a blogger, that reality will sometimes make irrelevant your published opinions. We risk being proved "wrong," because what fun is it to be safe and say nothing?)

The other sale taking a lower-priced option off the board was over at 1641 21st (3br/1ba, 1000 sq. ft.).

That was less of a shock. We saw this one and found it, while smallish, pleasant enough and a decent starter home.

There were multiple offers against the $950K start price, so look out above on that one as the East MB entry-level bar gets raised.

There's one new entry on the market in the Trees: 750 30th St. (3br/1ba, 1150 sq. ft.) coming in at a jaw-droppingly-low $1.150M.

If you're paying close attention, though, you know it's not going to sell anywhere near that number. (Uh-oh, Dave, there you go again, predicting!)

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