Address: 3024 Arizona - 90404Details: 2 bed/1 bath 952 sq ft house, 2,871 sq ft lot, "updated", short sale
Description: ADORABLE restored 2 BED, 1 BA bungalow. Updated kitchen and bathroom. Kitchen with beach wood cabinets and tiled floor. Inviting living room and dining room with brick fireplace, custom cabinetry, wall scones, period hardware crown moldings, and hardwood floors. Charming front porch and white picket fenced garden. Detached garage used as an office. Much loved home is waiting for new family. Close prox to Douglas Park, Whole Foods, restaurants, & stores. Easy freeway access.
Previous Purchase: 6/1/06 - $970,000
Listing History: 1/5/10 - $699,000
SOLD: 6/9/10 - $735,000
This short sale was only active on the market for 14 days before going into escrow. It is not surprising to see that escrow took a long time since this was a short sale. Buyer paid over list. Good job by the bank/lender to list it at an attractive list price and sell it quickly.
The previous sale was just stupidly high. This is a decline of about 24% which seems somewhat in line with where declines are right now.
I still think this price is high. The finishes are nice but it's a tiny house on a tiny lot. Condo alternative. I firmly believe prices for houses like this will start with a 6 in the near future.
ReplyDeleteI hope you're right. This price still seems outrageous for such a little place.
ReplyDeleteDirty little shack with 1 bathroom, not even north of Wilshire or in a good school district. Not worth 3/4 of a million dollars. What's wrong with you people.
ReplyDeleteIt's like in the Matrix, you all think we're done with the bubble, but really we're very much still in the bubble and the government is the one spending untol amounts to prop up the inflated housing prices. At some point soon it will not be enough, places like this have a good 15-25% to go down.