Sunday, September 30, 2007

Open House Report (September 30)

4734 NORWICH AVENUE, Sherman Oaks, CA 91403
(MLS # F1735844)
Priced at $819k
UPDATE: Price Reduced: 10/02/07 -- $819k to $799k

Bedrooms: 3
Baths: 1.75
Square Feet: 1,273
Lot Size: 6,750 Sq. Ft.
Year Built: 1948
Listing Date: 09/22/07
Last Sale: 06/15/05
Sales Price: $535,000
Zestimate $687,571

This house has been tastefully remodeled. It's ideally sized for a couple, especially a couple who want a turnkey house. This is a highly desirable neighborhood and this home would've sold at this price maybe six months ago. Today, I think they would have to price closer to $750k (due mainly to the small square footage) if they really want to sell.

4702 HALBRENT AVENUE, Sherman Oaks, CA 91403
(MLS # F1735558)
Priced at $959k

Bedrooms: 2
Baths: 2
Square Feet: 1,967
Lot Size: 7,800 Sq. Ft.
Year Built: 1941
Listing Date: 09/17/07
Last Sale: 04/23/86
Sales Price: $226,000
Zestimate $905,442

There is simply no way on God's green Earth that this house will sell for $959k. It's has an overwhelming patchwork hodgepodge feeling to it. It has no emotional appeal. If I had to pick one word to describe this house (and overpriced could not be the one) I'd go with: Blah. There's just nothing special here and the price is outrageous.

13953 HARTSOOK STREET, Sherman Oaks, CA 91423
(MLS # F1725799)
Price Reduced: 08/23/07 -- $779,000 to $729,000
Price Reduced: 09/12/07 -- $729,000 to $669,000

Bedrooms: 3
Baths: 1.5
Square Feet: 1,522
Lot Size: 6,712 Sq. Ft.
Year Built: 1952
Listing Date: 07/21/07

This house has a great layout with a nice yard and at $669k it's a bit of a bargain. It needs a total face lift -- but it's not as though you'd have to move walls, IMHO. There's wallpaper everywhere and wall to wall rust shag carpet (covering the original hardwoods which looked to me like they could be restored). Back in January, I would've thought long and hard about bidding but I believe this house will further depreciate in coming years and there will be no shortage of listings like this in 2008.

4606 VARNA AVENUE, Sherman Oaks, CA 91423
(MLS # F1735911)
Priced at $889k

Bedrooms: 3
Baths: 2
Square Feet: 1,929
Lot Size: 7,011 Sq. Ft.
Year Built: 1951
Listing Date: 09/23/07
Last Sale: 04/23/96
Sales Price: $275,000
Zestimate $866,217

It's a pretty house. The bedrooms are a bit small and the house is placed pretty far back on the lot (the garage and drive take up a big chunk of the front) such that the back yard is not maximized. The kitchen is a bit dated. I felt like, once again, this house was priced for six months ago. Expect to see some reduction.


Pioneer10 said...

4734 NORWICH AVENUE, Sherman Oaks, CA 91403

Correct me if I read something wrong but its listed for 819 and just in 2005 it was sold for 535k. It would have to be really one hell of a remodel to be worth even 750k. We'll know this bubble is over when houses like this sell below there 05 price

Jeff said...

That home on Norwich is adorable. I walk my pup passed there every morning. Great neighborhood and not unreasonably priced.

FYI, I'm the reader who mentioned the free doggy dogs from The Weiner Factory some time ago.

If your planning on attending the open house, make sure to swing by the factory and pick up a few dogs for the dog (and some for yourself as well) :)

Anonymous said...

I work in medical research with MDs everywhere--only a two physician household could afford these prices and how many households have two MDs in them?

Now that the money has dried up let's see what happens to the prices.