Active Mar Vista Rollback *Update 1*

I last featured 3711 Wade back in July as an active rollback property in Mar Vista. When I first featured it I noted that the asking price seemed interesting, especially given that it seemed to be a standard sale and that the property didn't seem to have any huge flaws.

Previous Purchase: 6/8/06 - $1,249,000

Listing History: 7/13/11 - $879,000

SOLD: 9/1/11 - $925,000

This house went into escrow quickly (11 days) and the sellers were smart to price it at/below market price as it generated enough buzz to get people pretty interested. Thus, they were able to actually receive $46k more than their asking price.

This $324k loss amounts to a rollback of 26%. Mar Vista is an expensive westside market but it is not as desirable and expensive as Santa Monica. Thus, we would expect to see rollbacks a little bit deeper than what we are observing in Santa Monica, and that is exactly what you have here.