I last featured 628 24th back in April 2009.It is a big, 2002 construction house in a great location.
Previous Purchase: 9/9/05 - $4,200,000
Listing History: 7/21/08 - $4,295,000
Re-Listed: 4/9/09 - $3,688,000
Price raised to: $3,795,000
Re-Listed #2: 3/24/10 - $3,795,000
SOLD: 5/28/10 - $3,517,000*
*According to the info in the listing sale notice, THIS RECORDED SALES PRICE WAS NET OF ALL SELLERS EXPENSES. BUYER PAID ALL SELLERS EXPENSES.
So that means we need to add back in any seller expenses to get the real sales price. Now, we all know the largest sales expense by far is the real estate agent commission you have to pay. I think any other expenses are going to be somewhat trivial in comparison. So, I'm going to assume all expenses together came to about 6%...
So that gives us a real sales price of: $3,741,000
That is about 11% off of the September 2005 price which means this is likely in the late 2004 rollback area. I think this is about where the market is so it seems like a fair transaction for both sides of the deal.
Well done house. Could use a tad bit of updating in certain areas. The seller was a doctor with grown children. Many people visited this house and there were many offers. The sellers accepted too quickly. They could have done better here. Buyer did well here
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