Sunday Opens (10/24)

By Dave Fratello | October 24th, 2010
People seem to make way for the pumpkins.

One way that's expressed is a new, unwritten rule: Don't debut an open house when the pumpkins are running.

This weekend marks the first we've seen in a while with nothing new under the sun (or clouds), though there are plenty of familiar offerings this weekend worth a look. Below is a small selection from among those which seem to be worth a tour if you haven't yet dropped in.

To plan your open-house tours for this week, use MB Confidential's online list of Manhattan Beach open houses (it's mobile-friendly!).

We ask MBC readers who visit the featured homes, or any open house, to also report back in the comments here. Tell us what you see, what you like and what you don't like.

Sand Section

445 33rd (5br/5ba, 3600 sq. ft.) is now entering its fifth month on market, a bit of a shock because it found an immediate deal way-back-when, and that actually wasn't surprising.

The home's a sharp custom build we called "a true modern beach delight" when it debuted back in June. (See our "Weekend Opens" post from then.)

The big home is on a double-wide, but otherwise standard-size lot (2700 sq. ft.), up on the plateau. The top-floor kitchen and great room open, via nanawalls, to a big patio/deck with some ocean peeks and views across the Sand Section.

The home's still priced at $2.999m, not far below its start. The question is looming larger: Is a newer home on a regular-size lot on the plateau worth $3m?
445 33rd is open Sun. 2-4pm.

224 31st is a newer (2005), custom-built Mediterranean west of Highland with max square footage (5br/5ba, 4200 sq. ft.) and ocean views.

It's been on and off the market over the past 3 years. The home's been a rental on and off, partly accounting for the erratic marketing schedule. It began much too high – $4.995m in Aug. 2007 and down only slowly over the next year. It served some time in 2009 at $3.6m and spent July-September this year at $3.499m.

It turned some heads when the same home came back this week with the same agent at a higher price 3 weeks after the last listing quit. It's now at $3.679m (+$180k/+5%).

Is this just another unrealistic price, or is the seller a seller? We'll find out, but this one could actually go this year.

We're sure that one trigger for the price bump is the sale of the brand-new modern right next door at 228 31st (4br/4ba, 3930 sq. ft.) for $3.8m last week. Big views, the cachét of new, but the same basic location. You can see why the sellers of 224 see that as an endorsement of a mid-to-high-3's price.

A close comp propertywise – similar style & age of home – remains 204 19th, which was new in Aug. 2006, resold this year at $3.9m. (See "Way Lowe-r.") 19th provides a clear location advantage there, so that's a very high top-end for what 224 could fetch. Adjust for location and you're back in the mid-3s somewhere.

Whatever 224 31st ought to fetch, it hasn't often been vacant, or open to the public, as it is this weekend. It's worth a good look this time.

224 31st is open Sun. 1-4pm.

132 20th (5br/5ba, 4000 sq. ft.) has location going for it, but the mid-80s vintage of the home is dominant. Stylistically, it isn't quite beachy or contemporary, but some compromise between them. Updates are rare.

The home offers some ocean views from the front, but more from the big, top-floor patio/deck/outdoor room off the kitchen and dining room in the rear.

With the main living spaces up top, the walkstreet level features a game room/media room and one extra bedroom.

132 20th began at $3.750m and is down to $3.599m after 4+ months on market. Here we can again look to 204 19th, a block over and up the hill a tad, as a touchstone – $3.9m then bought a newer and currently styled home, whereas 20th needs attention to bring it up to the standards of a typical $3m+ buyer.

132 20th is open Sun. 2-4pm.

East MB

Since we're pointing to a couple of evergreen listings, let's look east of the highway for an old standard.

116 Terraza (7br/10ba, 9900 sq. ft. on a 24,000 sq. ft. lot) began last Fall at $10m, and then began a long, almost unbroken string of weekend open houses.

If making a sale is partly a function of exposure, they're getting that part right after a year or so.

Along the way, the price is down $3m to $6.999m.

The big Spanish mini-estate features a terrific, open great room that flows nicely to the outdoor entertaining spaces and pool, a ginormous master suite, separate kids' living room upstairs and guest quarters.

If they're not going to sell the place any time soon, maybe they ought to rent it out for parties, holiday visits, that sort of thing, while waiting for a buyer.

116 Terraza is open Sun. 3-5pm.

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