This Is 'Cheap' in MB

By Dave Fratello | July 11th, 2014

The lowest-priced house in MB has just sold, and it might lead to a pause-and-reflect type of moment.

The home in question is 1658 11th, a little 2br on a half lot on a corner that we can fairly call busy.

So what was that rock-bottom price for the little darling? $872,340. That's the lowest number for a single-family this year.

In 2013, there were 6 sales lower than that, headlined by one that almost looks like a misprint: a half-lot fixer nearby at 919 Herrin at $605K. A 6 in front!

But what can you get for that kind of money outside of MB?

Golly, just head across Artesia from Mira Costa in the Golden Hills neighborhood of Redondo, and you can have your pick of full-size homes (tall-and-skinny, sure, but full-size). As just one example, Dave sold 1644 Steinhart (4br/3ba, 1780 sq. ft.) earlier this year for $801,173.

But you could go to a lot of parts of the South Bay or southern California and have a lot of buying power with $872K to spend.

This morning's palm-to-forehead moment came when we got word from someone shopping in a nice neighborhood around Portland, Oregon. They've tied up a 5,500 sq. ft. house with land and views of trees and 3 mountains... for about that same price.

Sure, it's kind of a hike to the beach from Portland – and a bit cold once you get there – but there's a lot to be said for that town. Great food and microbrews, and no sharks!

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