Sometimes you find yourself asking: Where'd the money go?
The last time the corner-lot home at 742 33rd sold, back in 2011, that was a pretty ripe (and sad) question.
But let's try to capture the whole history up till today.
742 33rd (5br/6ba, 3975 sq. ft.) first traded new at $2.700 in Summer 2008.
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Sometimes you find yourself asking: Where'd the money go?
The last time the corner-lot home at 742 33rd sold, back in 2011, that was a pretty ripe (and sad) question.
But let's try to capture the whole history up till today.
742 33rd (5br/6ba, 3975 sq. ft.) first traded new at $2.700 in Summer 2008.
Now, that was already a big disappointment to the spec builders, who had put it out at $3.295M in Summer 2007. The market went wobbly and they did not get their projected number – instead, at $2.700M, it came in 18% low.
But after that purchase, the (financial) world collapsed, and property values – even in MB – plummeted.
So when 742 33rd came back to market about 2 years later, chunks of equity in the home had vanished.
It eventually sold in Feb. 2011 for $2.275M, another step down of 16% from acquisition.
Yikes, that was a full $1.020M off how the spec project had, apparently, penciled out back in '05-'06.
So where did that $425K go? That was one of those questions everyone was asking about disappeared money in the recessionary years.
Today, 742 33rd is back on the market and the money's back, too.
The list price of $2.998M may well be supported in this market.
That would be up +32% since 2011. And, yes, that has been happening around here recently. Quite a bounceback.
Looks like the developers' projections were almost right. Just off by 6 or 7 years.
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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 March 19th, 2024 at 3:25am PDT. 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.