What would
you pay for a rare lot in the Martyrs area of the Tree Section?
Well, maybe that's the wrong question, because someone just paid more than you would consider.
Over at
1805 John St., they just held something of an auction.
We're inviting you to vote in our new pricing poll, to guess what the closing price at…
What would
you pay for a rare lot in the Martyrs area of the Tree Section?
Well, maybe that's the wrong question, because someone just paid more than you would consider.
Over at
1805 John St., they just held something of an auction.
We're inviting you to vote in our new pricing poll, to guess what the closing price at 1805 John might be. Take your best guess; we'll run the poll till next Tuesday, 8pm.
Turns out, there weren't only 18 bidders. Last count was 20. One offer has now been accepted.
Twenty bidders reflects a lot of things. Scarcity. Rareness. A market that's heating up. The fairly prime location. (It's clearly an A if we can allow that there are also A+ and A++ locations, objectively.)
Mix into that the wild range of interests among those 20 buyers.
You could have people who just want a nicely located Tree Section home who, with a few upgrades, would be happy. (Admittedly, this is difficult to imagine, given the actual house on site.)
You definitely had people who would consider a bold remodel, with some partial scrapping of the current structure, some additions, tons of modernizing – it's almost hard to call it a remodel, but the city would treat it as such.
And then there would be the lot-value bidders.
Spec builders. (At least 3 were in the mix, probably more.)
Custom builders (people looking to make that lot into their dream home).
No surprise, then, with a mix like that, that a $1.1m start price would go up, up and up.
With 20 initial bidders, everyone was given just one chance, blindly, to increase their bids. A single "best and final" response. How high would someone go?
Blind betting like this is dangerous, isn't it? At least in an auction you'd know what someone else was willing to pay.
So what do you think the "winner" of the John "auction" offered?
Vote in our poll, and we'll compare our results here to the closed price in about 3 weeks when the deal for John wraps up.
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 March 19th, 2024 at 12:55am 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.