The results on our
1801 Elm poll are in. By late Sunday, we'll be able to do a very quick comparison of reader opinions with reality.
The public auction is slated for
4:45pm at the property Sunday night, Dec. 6.
Even though MBC offered 9 separate categories for reader votes, 3 categories spanning just $150k in…
The results on our
1801 Elm poll are in. By late Sunday, we'll be able to do a very quick comparison of reader opinions with reality.
The public auction is slated for
4:45pm at the property Sunday night, Dec. 6.
Even though MBC offered 9 separate categories for reader votes, 3 categories spanning just $150k in difference got the clear majority of all votes.
Fully
55% of all those casting votes believe the auction price on Sunday will wind up between
$700k-$850k.
To emphasize the consensus here, we've spun our pie chart around a bit; just note that higher guesses went to the left (counterclockwise, blues) while lower-price guesses went to the right (clockwise, orange/grey).
By a minuscule plurality, it was the narrow price range of
$750k-$800k that drew the most votes (
21%).
There's a clear rationale for this consensus. As referenced in our initial poll setup story (see "
Pricing Poll: 1801 Elm"), the neighboring home at
1733 Elm sold in May for
$801k. Though it needed work to be habitable, it wasn't a clear teardown like 1801. Still that value is a clear marker for 1801.
Now, the auction Sunday could get out of hand. With a buzz all over the property for weeks, and the emotion of the moment, someone could pay too much. However, MBC voters seemed to see the risk of a very high overbid situation on Sunday as limited. Just
11% thought the auction would get so crazy that someone would bid any more than $850k on site; only 5% were thinking more than $900k.
Could the on-site auction winner get a real deal Sunday? About a third of our voters seemed to think so, with
34% in total saying the auction would wind up
below $700k. With a price in that neighborhood, you could argue that the auction would be coming in below market.
Of course, whoever "wins" on Sunday is still subject to being overbid in 4-6 weeks when the court takes up the subject of the auction. The final price for 1801 Elm won't be set till then. And with that check on Sunday's proceedings, you can see why bidding might not go too high right away.
First things first: We'll report on the auction outcome Monday morning.
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 May 30th, 2023 at 11:31am 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.
