Saturday, September 29, 2007

People! Our first auction!

Well, at least it's the first auction that I am aware of here in Sherman Oaks. You might remember that I wrote about this house a little while ago because I thought it was funny that they were touting this house as the "best deal on the street." Well, I take it all back because now it might very well be the best deal on the street.

I just read the (cap-happy) ad in the Times. I have reprinted it below for your convenience.

"AUCTION! By Owner! 2+2, 1,754 sf, Huge Yard, Rock Pool, Firepit, Spa, Ex-Lg Master, Opening Bid $589,000. Inspections Sat-Sun 10/6 - 10/7 Noon-5PM. Home To Be Sold Sunday Night to Highest Bidder"

14749 VALLEYHEART DRIVE, Sherman Oaks, CA 91403

I have to say that $589k is a great price for this home today and if for some reason you have to buy a house today (I can't think of why that would be, but nevertheless) then this might be the one for you. Personally, I think this home will be less than $589k in the not-too-distant future so I won't be bidding despite the fact that I would have lost my mind over this last January.

I do have some questions about this, however. Like: if it's "by owner" does that mean that there are no agent commissions paid? Also, if the highest bid is $589k will they sell it at that price? If the highest bidder cannot close, will they move on to the next bidder in line? Hmmm.

Anyhoo, here's the rest of the property details:

MLS #: F1735357
Bedrooms: 2
Baths: 2
Square Feet: 1,914 (NOTE: different from that listed in ad)
Lot Size: 7,910 Sq. Ft.
Year Built: 1945
Listing Date: 09/19/07
List Price: $889k
Last Sale: 05/17/04
Sales Price: $600,000
Zestimate $851,857


Westside Bubble said...

Did you see ABC News' "20/20" last night? It included an item about just such an auction. The result was that although the $400K top bid was above the low $299,500 starting price, it was below the $470K the sellers wanted and they didn't sell.

Here's its website link.

Kate said...

I did! Can not wait for result!