off-market sales

There are currently 30 blog entries related to this category.

Among the many issues that can arise between neighbors, one is envy.

In real estate, price envy can turn quickly to calculation.

A person sees the neighbor sell for $X, and starts to think: "What's my place worth?"

From the outside, that looks to be what evolved over at 408 26th, a newer, rear-unit townhome near Grand View school, over the past couple of years.

Way-back-when, when the kids were young and smart phones were small, back in 2013, the front unit of this 2009-built Mediterranean complex snagged a then-astonishing $2.799M off-market. That was 2520 Alma (3br/4ba, 2520 sq. ft.), which gets panoramic views since it is the front unit and the top floor is set somewhat higher than neighbors across Alma.

That sale, basically unprecedented when it…

There is no neighborhood in Southern California quite like the "flat" South End walkstreets of the Manhattan Beach Sand Section.

Once people see it, they want it. Then it's a question of: Can you get it?

Dave has sold 3 homes on those treasured blocks in just the past couple of years, always off-market. These properties just don't trade much. And with scarcity, you see prices jump.

That's how a lot recently traded near $4M, and a built home way over $5M.

First let's look at one that has finally closed, after hot rumors flew for weeks.

316 4th St. is a full-size corner lot running along the alley at Crest.

You can go either way on whether the alley is a plus or minus. You've got no neighbor on that west side and there are ocean views down 4th Street,…

Back a bit before Christmas, we tried to calm MBC readers who were thinking that the the ocean-view lot at 864 5th in the Hill Section might be selling for less than $2M. Such a deal?

In "No, That's Not a Lot Under $2M," we pointed out that the active listing price of $1.949M had already been exceeded in a first-round bidding war.

The price had settled around $2.6M, but that was pending an all-important "court confirmation" with a potential for overbids in court.

That court hearing happened Jan. 23, and overbidding happened there.

The closed sale has now posted: $2.900M. That's for a 5700 sq. ft. lot that gets some views from front and back (that photo's from the back deck of the current structure).

Next stop: New construction. And do you even want to…

Just 14 months ago, there was a bidding war for 109 Bayview.

The ocean-view townhome (3br/4ba, 2030 sq. ft.) in the South End of the Sand Section was built in the early 90s and still looked very much like that in 2013. And the floorplan's a bit choppy.

Still, it was easy to see why multiple bidders drove the price up $200K at the time: Ocean views that are simply jaw-dropping, awe-inspiring... heck, they're darn near a religious experience. (Over the top?)

Those views are partly thanks to favorable topography, and partly thanks to old height limits. You can't build this tall again, so there's a special kind of scarcity factor built into this building.

In November 2013, the sale closed at $2.600M. Then the new owner started thinking through a remodel.