Thursday, September 13, 2007

Somebody is serious about selling... in Fashion Square.

13953 HARTSOOK STREET, Sherman Oaks, CA 91423
(MLS # F1725799)

Bedrooms: 3
Baths: 1.5
Square Feet: 1,522
Lot Size: 6,712 Sq. Ft.
Year Built: 1952
Listing Date: 07/21/07
Price Reduced: 08/23/07 -- $779k to $729k
Price Reduced: 09/12/07 -- $729k to $669k (Down 14.12%)
Zestimate $743,562

These are meaningful price reductions on a house that was not insanely priced to begin with. And before you push that comment button (!) I know you think everything is insanely priced right now. I'm just saying that this house was average priced for its neighborhood and has dropped fast; this appears to be a realistic seller. Who knows, it might set off another wave of reductions in this neighborhood.


Ace said...

This one is a trust sale and someone really wants to move it.

The agent wrote 'reduced $120k'. My math says it only was reduced $110k. If you are going to put in an offer, put it in for a lot less. This agent doesn't do math too well.

Kate said...


Ace said...

Speaking of priced right, check out F173447. It is a 3 bedroom in the Studio City Hills on Sunswept.

It was purchased a year ago for $2.1 million and has now been repossed by the bank.

The price? $750,000.

There must be something fishy going on here. Is the bank really going to lose over a million dollars on this?

Kate said...

Do you have the street address? That MLS number isn't coming up for me.

Ace said...

The house is 3615 Sunswept Drive.

Oops, the MLS should be F1734407.

Kate said...

I can't find that house anywhere. Either I am technologically challenged or you have a better MLS feed.

Ace said...

It just hit the MLS today so you might not have access yet. I use Tempo.

How do you have access to the MLS anyway? It is very expensive to use.

Kate said...

I use Ziprealty and Redfin -- both free.

Also, congratulations on being the featured commenter on LA Land today!

poetchick said...

Redfin says it has been listed for 68 days at $1,190,000.


Kate said...

I dunno guys, the MLS number doesn't work for me and there are only three listings on Sunswept in Studio City on Redfin ... the lowest address number is 3722 Sunswept. Maybe it'll come up for me tomorrow.

Anonymous said...

It's listed on by the MLS.

It's free also.

l.a. guy said...

According to Zillow it sold for $1,688,117 in August, 2007.

But Ace is right, considering it sold for $2,105,000 in June, 2006, something doesn't seem right. Somebody got a bargain or somebody paid waaay too much to begin with.

Interestingly the Zestimate is for 2.1M, but we all know how inaccurate those can be.

Ace said...

The $1.688 million that zillow shows is the amount of the loan when the bank repossessed it.

If they sell for $750k, they will lose close to a million bucks.

There is a note for the agents that says 'Property may have geological problems- buyer to be responsible for all inspections and reports'

Maybe the land is going to slide down the hill any day now?

Ace said...

Wow, here is a real puzzler.

12643 COLLINS St

It took 144 days to sell but check out the price movements:

March - $1,299k
March - $1,152k
May - $1,125k
June - $1,099k
June - $1,125k

Sold in September.
Price? $1,320k.

Kate said...

I can't pull up expired MLS listings unless I caught them before they went inactive. Nevertheless, it's definitely a big ole house:

5 beds, 4.0 baths, 3,048 sq ft on an 8,100 sq.ft. lot.

And Zillow is estimating it at $978,856 despite the fact that it hasn't sold since 1996 (at $162k!)

But how do you explain paying nearly $300k over the lowest advertised price? And how the eff do you get that appraisal?

If you want to send photos, or a pdf of the listing, I'll post them once the property shark info comes up.

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