The listing description:
Drastic reduction! Spectacular chic entertainer's pad with wonderful view amidst a woodsy private setting.... blah blah blah
And here's the details:
(MLS #: F1760298)
Bedrooms: 2
Full Baths: 2
Partial Baths: 0
Square Feet: 1,185
Lot Size: 5,510 Sq. Ft.
Year Built: 1941
Listing Date: 03/27/08
Price Reduced: 04/17/08 -- $809,950 to $789,000 (2.6% down)
But it's not just the 2.6% (a.k.a. "drastic") reduction that set me off. It's also the outrageous price per square foot (even after the reduction).
Square footage stats:
Based on Original List Price: $684
Based on REDUCED List Price: $666
Based on Zestimate™: $685
Sold Homes: $420
This house is in a nice little neighborhood. But I can't imagine anybody shelling out around $800k for an 1185 sq. ft. two bedroom house on a small lot. In. The. Valley. I mean, come on. This house sold for $381k six years ago. Here's the Zillow chart:
8 comments:
$274K sounds about right. It's been stuccoed so something not too pleasant is going on underneath the exterior. It probably has a sliding back yard in desperate need of some pilings.
Yup. $274k. Not a penny more.
To get a feel for an area you're not familiar with, like this place, and the surrounding homes, Google has an answer, Street View. Most of LA/OC is videoed.
http://maps.google.com/help/maps/streetview/index_.html
$780k for this old place, in that neighborhood, no yards, no one keeps their houses up, way over grown. Please. Next!
I just noticed Katy already mentioned Google maps in the previous entry. Sorry for the repost.
I just wish we could send out a memo to all the knife-catchers: DO NOT BE FOOLED.
This seller has lost their mind. My friends live in apartments with more square footage! And at least they get a pool, tennis courts and a gym to use. But hey, I can't see why anyone wouldn't like to pay $4k per month, excluding property tax and insurance, to live in a home that can store both a set of dishes and golf clubs - at the same time... Oh - and even entertain two of your best friends in the house while siting on bean bags (the couch can't fit if the golf clubs are in the way).
Check out:
MLS: F1763487
Are the prices now starting to fall in Studio City as well this early in the housing slump? A bad omen for how bad things can get.
Although it could be just another overpriced tear-down, the proximity (noise) of the freeways, or ... (insert whatever substantial flaw you can think of).
Wouldn't give it a look north
of 400K ...and I'd be doing them
a favor.
So many amusing things in that listing description:
Drastic reduction.Spectacular chic entertainer's `pad' with wonderful view amidst a woodsy private setting. Bright & spacious- Exceptional sophisticatd retreat remodeld 2002/03-Massive gr8 rm & lrg granite gourmet kit overlooks lush gardns & pvt patios front/back-Master suite+separate deck-Amazing baths+gorgeous hardwd flrs+stone treatments-2 car gar-Quiet lazy/level cul-de-sac less than an easy walk mile from BLVD, shops, farmers market-Carpenter school dist- area of higher priced homes, a"10"!
1) as far as I can tell, the photo only shows a "wonderful view" of the houses own backyard
2) mentions a cul-de-sac, but is 8 lots away from the actual cul-de-sac
3) mentions being in an "area of higher priced homes" -- the home next door is a much better value:
$1,449,000
3656 Buena Park DR 0 miles
4 bd / 4 ba
3,200 Sq. Ft.
4) mentions master suite -- no picture
5) mentions "amazing baths" -- again no picture, which leads me to think that maybe they weren't included in the remodel 5-6 years ago and aren't the house's best feature by any means
Methinks the price needs to drop.
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