Thursday, February 28, 2008

$248/sq. ft. South of the Boulevard? You betcha!

4062 WITZEL DRIVE, Sherman Oaks, CA 91423
MLS #: F1752934

Bedrooms: 4
Full Baths: 3
Partial Baths: 0
Square Feet: 3,220
Lot Size: 7,988 Sq. Ft.
Year Built: 1977
Listing Date: 02/01/08
On Market: 27 days
List Price: $799k
Last Sale: 01/12/07
Sales Price: $1,450,000

Based on List Price: $248
Based on Zestimate™: $434
Based on Cyberhomes estimate: $461
Sold Homes: $417

Granted, this wasn't a gorgeous home. But it's big and it's in a good location. You never would've seen anything selling in this price range last year. And I'm a little surprised to see it this low, this soon, in the hills.


Anonymous said...

Clearly, the house has been priced to actually sell. But, I bet it doesn't. The price is still too high for a family of 4 who make $200,000 a year.

Anonymous said...

I tried to see it -- the real estate agent got us lost an our son got carsick lost in the hills, so we aborted...but at that time about 2 weeks ago we were told it had 2 offers over asking...

( we decided we didn't know enough about the area to be able to make a serious offer fast, so didn't go back.)

Kate said...

Well, this listing is currently inactive and I believe it is sold -- in record time for this market. In a week or two, we should be able to pull the sales price off Property Shark.

But $248/sq.ft. is a remarkably low price in the hills.

Anonymous said...

Wait a few months and you will get a gorgeous house in the same area for less than that price. Doesn't anyone notice that every time someone in the news mentions the word "HOUSING" or "MORTGAGE" that it is immediately followed by the word "CRISIS"?

Anonymous said...

Check Laurel Canyon, near Dona Pegita, there is an REO for 744K, close to 3K square feet. Last solf for 1.25 mil. enjoy

Anonymous said...

It's been trashed. Here's the articulate, realtor-written bio and link to pictures (buyer beware):

Wow panoramic city light views in the heart of Sherman Oaks!! High beam ceilings, smoothed ceilings, hardwood floors, family room with separate entrance, secluded, private. .. This home is worth 1 mill however for the last year property received lesser care then one would not hope for. .Be prepared for some dumpster renting and some 'fresh-ning up' House wants to be back to normal (lite/med fixer) see pictures, Definately. .has potential to be a winner again. .. Sold as is, 'short pay'

Anonymous said...

house is seriously trashed - was curious and took a look a couple weeks ago when there were "up to 10 offers..." layout is a senseless maze, place is a dump, but the view? Fantastic.

Anonymous said...

Senseless maze? That explains why it was purchased for 1.4m last year...

Emil said...

Past purchase price doesn't mean anything - there's always somebody willing to pay more than something is worth...