Tuesday, March 18, 2008

No hope on Hopevale Drive

3954 HOPEVALE DRIVE, Sherman Oaks, CA 91403
(MLS #: F1758841 )



Bedrooms: 3
Baths: 3
Square Feet: 2,234
Lot Size: 6,029 Sq. Ft.
Year Built: 1987
Listing Date: 03/17/08

Last Sale: 09/20/06
Sales Price: $1,355,000
Zestimate™ $1,171,500


And the current list price? Wait for it... wait for it...

$834,400.00

Sure, it's an REO. But that's a big (and kind of unusual) house in the hills of Sherman Oaks. This is gonna rock the comps fo' shizzle.

Here's the details on the priors:


10/12/2007
Sale price: $1,035,000
Buyer: Citibank NaN/Avail , 0
Seller: Quality Loan Service Corp

9/20/2006
Sale price: $1,355,000
Buyer: Farrah Madrid
Seller: Pechter,Steven J & Pamela M

5 comments:

Anonymous said...

$373.50/sqft sounds much more reasonable than the ridiculous price the previous buyer paid. But I think there might still be some more dropping yet to come.

Kate said...

Indeed! The listing description seems to indicate that this is a turnkey house. So, I guess we'll all just have to wait and see.

Kate said...
This comment has been removed by a blog administrator.
Anonymous said...

Great, Kate.

I read the following description for a new listing at 4188 Sunswept Drive, Studio City (3+3, 1818 sq ft, asking $950,000), and just had to share it:

"Prime location. This unique house has been totally updated and has views to die for. Open floor plan for entertaining. Downstairs is a very private 1 bedroom with living room, bathroom and large closet with private access. Freshly painted. Perfect move-in condition! Nice backyard. Don't miss it!"

So what is the "prime location" with "views to die for"? This house is literally across the street from the Arco station at Ventura Blvd. and Laurel Terrace. Fill your tank and watch the housing market tank.

Any guesses on what the market-clearing price will be?

Kate said...

It's hard to believe that this house would dip below $750k this year. I think somebody might pony up in the low 8's -- but gosh who knows these days.