Tuesday, February 19, 2008

It's Ba-aaaaack! (On Noble)

RELISTED 02/16/08 AT $740k



Price Reduced: 07/10/07 -- $849,900 to $824,900
Price Reduced: 07/17/07 -- $824,900 to $799,900
Price Reduced: 07/28/07 -- $799,900 to $769,900

Original blog post from last July: "These people bought this house in November for $705k. They have not increased the square footage at all but they think the house is now worth $850k. What could they have done to the house to justify that increase? Let me tell ya, for the additional $145k I could've put in a whole new kitchen, two new baths, a brand new jacuzzi out back, central air, a new electrical panel and all new windows in this 1,385 square foot house."

ORIGINAL MLS DESCRIPTION:

"This charming home is just steps from the blvd. With easy access to 101, 405 & pub trans. Harwood floors, smooth ceilings, crown molding, whitewashed wood plantation shutters, french doors, kit with custom cabinets w/glass fronts, bathrooms, eating in kitchen indoor laundry area, light fixtures and recessed lighting. The beautifully landscaped and lighted back yard has a covered brick porch and plenty of room for entertaining."

NEW MLS DESCRIPTION:

"South of the blvd.- incredible steal! Located in prestigious sherman oaks neighborhood of multi-million dollar homes! Charming traditional full of warmth & character. Features include hardwood floors, french doors, crown moldings, 2 fireplaces & plantation shutters! Lr with hw floors and fireplace. Gracious formality defines the dining room enhanced with chair rail & crown moldings. Beautiful sun-filled kitchen includes breakfast area, walk-in pantry & custom cabinets w/glass fronts & pot rack. Separate laundry room with extra refrigerator. Tranquil bedrooms have been tastefully designed. 3rd br/convertible den features fireplace, custom built-ins and french doors leading to gorgeous rear yard. Updated baths in neutral decor. Beautiful & serene rear yard is very secluded & features custom landscaping, covered brick patio & lawn. Perfect for entertaining or morning coffee. "

These were the pictures I posted to highlight the original MLS descriptions. I figured I'd trot them out again:







This house will not be selling for over $700k. The end.

4 comments:

Anonymous said...

I wouldn't pay $200 thousand for that house. I'm going to sit out the delusional happy dance everyone seems to be doing and wait until prices come down to something approaching sanity before I even consider getting out of bed to look at a house.

Cue whine: Real estate always goes up, there's a shortage in SoCal, it's in a great neighborhood, blah blah blah. Delusional.

Anonymous said...

Kate--what's your sense of when the market will bottom out? Like anonymous above, we are waiting things out, but friends (who mostly already own, please note) keep saying this is the trench. I doubt it, but wondered what your thoughts are as a savvy trend-watcher?

Anonymous said...

They would be very lucky to see $450k this year. Only going to be less later. Homes don't always go up in value, and at their wishing price you could get more than half of a Toll Brother's home.

What a joke.

Anonymous said...

I live right down the street from that house. It IS charming, but SO SMALL. Larger 2-bedroom condos down the street are NOT SELLING for $450-600k.