Details: 3 bed/2 bath 1,422 sq ft house on a 6,400 sq ft lot
Description: A Very Special Property! Sweet & Charming – the open floor plan of living room & dining room flows perfectly to a large kitchen. Included are: 2 Bedrooms downstairs with a wonderful full bath. The Upstairs Master suite with beamed ceilings, loft/office and beautifully appointed bath overlook A truly amazing yard and magical gardens with sitting areas and secret spaces. The garage has been re-fashioned into a Separate Studio. A gated driveway completes this home.
Previous Purchase: 5/27/05 - $1,308,000
Listing History: 6/13/11 - $1,195,000
SOLD: 7/26/11 - $1,183,000
This 9.6% decline from the mid 2005 price means this is probably in late 2004 rollback territory. I think everyone fared well here.
Buyer: Got a 2004 rollback on a higher quality property. While prices can go lower, this is a "leading" downside transaction for this type of property.
Seller: Didn't take that huge of a loss considering they bought it not far off from peak bubble territory. They also got rid of this before the recent stock market volatility and crappy economic data. I think they wouldn't be able to get the same value if they had to sell it right now.
Also, kudos to the sellers for pricing it right and moving the thing. It went into escrow after just 8 days on market and sold near list price. This is the proper way to conduct business.
0 comments:
Post a Comment