Sand Notes

By Dave Fratello | October 14th, 2009
The market seems a bit quiet these days, until you look behind the headlines...

Keeping that short commute – In a move that could guarantee the owner some kind of "green" award for walking to work, 125 8th is off the market now after 5 months on offer, last at $2.995m.

Across the walkstreet is a sometime exterior location for a Showtime series with its own "green" theme in which the owner stars. You would almost have to work at home in bed to beat this commute.

For more on this listing and another nearby walkstreet classic that was once offered at the same time (both have now quit), see "Downtown Cottages at $3m."

Rebuild it, and they will come472 35th St. (3br/2ba, 1125 sq. ft.) was offered for many months over the past 2 years, but someone tired of trying to unload it as a fixer and went to work.

A completely redone ("to the foundation" – listing), classy mid-century home was the result.

No more asking buyers to have a vision – the execution was provided. Priced at $1.299m, it went pretty quickly.

Who'll notice a bump? 621 Valley is back after just a few weeks off. (It canceled in early September; see this page of our online spreadsheet for 9/15/09).

And yet, at $1.180m, the new "start" price is $81k higher than the last list price. Apparently, we are all meant to have forgotten that the home was once offered for less.

The 3br/2ba, 1035 sq. ft. remodel is intriguing and improved over its condition in May 2005, when the owners paid $1.0m even. Valley's a bigger issue in this market, and that third "bedroom" – a former bachelor with separate outdoor entry – is not exactly a big draw.

They're baaaaaaaack – Over at 132 2nd, it's got to be hard to count the number of times the home has been for sale recently. They're trying again, this time at $3.795m.

From MBC's most recent dispatch in early August, when the listing quit:
[F]or reminder's stake, 2nd had a deal (off-market) last year for $6.225m (see "Riches Slip Away") that fell apart; it later hit the market at $6.0m and didn't sell. This year it began at $4.5m and dropped to $3.795m, barely, almost desperately, holding above the $3.5m acquisition price from April 2005. They had a deal in late June that flopped.

Maybe it's just not worth more than it was in April 2005.

One of these days...

We're not in 2006 anymore, Toto – As MBC readers will see soon in our report on same-house sales from the boom years to the current day, a 2006 acquisition is not going to fare well today.

220 36th (3br/2ba, 1320 sq. ft.) starts out in recognition of that fact.

It's a west-of-Highland, well-done remodel with ocean views, but the owners plan to take a bath.

April 2006: $1.425m.

Oct. 2009: $1.149m (-$276k/-19%) to start.

Did we mention costs of sale?

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