Address: 839 25th - 90403Details: 5 bed/3.5 bath 3,270 sq ft house, 8,350 sq ft lot, 1987 original construction, "extensively remodeled in 2008"
Description: Lovely contemporary Spanish extensively remodeled in 2008! Charm, spacious elegance and quality throughout. Designer details include Brazilian Cherry Wood Floors, Plantations Shutters, Pella Double-Paned Windows, Sconces, dramatic open Foyer, beautiful staircase, gorgeous stone fireplace. A Chef's Kitchen with all the amenities featuring w/Wolf, Subzero, Miele appliances including built in coffee maker, steam cooker and a 50-bottle Wine Fridge. Open family room leads to patio, fire pit, serene fountain and grassy yard. Master Suite features large walk-in closet, scrumptious bathroom w/over sized shower, soaking tub, Travertine stone floors and Grohe fixtures. Two additional bedrooms upstairs. Wired for Panasonic Phone/Intercom System, Alarm, Cat-5 and built-in Russound 6-Zone Sound System throughout the home. Instant Water Heater, 2-Zone HVAC. 2-Car Garage w/extra room for storage. First Showing Broker's Caravan Tue, May 11th, 11-2pm. Public Open House Sun, May 16th, 2-5
Previous Purchase: 12/27/06 - $2,128,000
Listing History: 5/7/10 - $2,875,000
This house was rented out for a while and more recently they did an interior remodel and landscaping. Looks like a bunch of fancy lipstick as the original house is 1987 construction and I don't think it looks like any square footage was added or major walls moved. The location here is good, lot is good sized, all the bells and whistles on the remodel, etc...
BUT, the big thing (as always) is the delusional price. They paid a peak bubble price and sunk some $$ in and now think they are going to get a fat profit? Remember, this is not new construction. An actual NEW house sold across the street (848 25th) back on 1/8/08 for $2,850,000. The market has declined a good amount since then...it all adds up to me thinking 839 25th is asking too much...15% too high?
I think possibly 20% too high. It would probably be close to the original purchase price based on mkt decline from peak, but ya never know.
ReplyDeleteAgreed, much too high.
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