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Monday, August 2, 2010

More 90405 Entry Level


Address: 3030 Paula Drive - 90405

Details: 3 bed/2 bath 1,443 sq ft house, 6,277 sq ft lot.

Description: Wonderful Sunset Park home bathed in light and with great entertaining floor plan. Perched above the street, this pool home has French doors, three bedrooms, two baths dark hardwood floors and a converted garage as a bonus room (no permit). Close to the park and featuring a lovely pool, this home has the California lifestyle down.


Purchase History:
1/31/06 - $890,000
9/8/06 - $1,050,000

Listing History: 4/13/10 - $995,000
Reduced down to - $975,000

SOLD: 7/28/10 - $920,000

This house appears uninspiring from the outside, but the interior photos didn't look all that bad. I would imagine that the January 2006 buyer might have completed some minor interior upgrades (paint, track lighting, etc) since the increase between the January and September 2006 period looks fairly large (but maybe no improvements were done and the market was just that hot back then?).

Looking at the $920k price against the previous sales prices and adjusting for some potential improvements, this rollback appears about as uninspiring as the exterior photos of this house. Even if I am correct about the timing of the improvements, I don't see how this can be better than a mid-2005 rollback.

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