Details: 3 bed/2 bath (+3/4 bath in garage) 1,525 sq ft house, 5,175 sq ft lot
Description: Much sought after traditional Spanish style home Santa Monica is known for. Delightful warm living room invites you in and features a fireplace, large bright windows, hardwood floors and arched ceiling. The formal dining room is in the center of the house and will accommodate the largest table. The den is adjacent with large windows and tile floor. The master bedroom boasts a large walk-in closet, French doors, and a private bath. Well designed convenient kitchen is complete with an eat-in breakfast area and stainless steel appliances. There is a separate laundry room and a beautifully landscaped yard with lemon trees. A 3/4 bath has been added to the garage making it ideal for a guest house or office. The location can't be beat! Walk to farmers market, Clover Park or the award winning Grant Elementary School. You can't imagine how nice this is. It has charm, location and convenience.
Previous Purchase: 9/1/05 - $1,250,000
Listing History: 11/10/11 - $1,095,000
Since I recently featured another Spanish location snob rollback, I thought it was worth looking at another. This house looks just fine but once again we must remember "location, location, location" is what its all about. In this case the house is located on Pearl which in my opinion should be a fairly large location discount street. Don't believe me? Go stand in front of this house at about 5pm on any weekday.
With this listing the sellers are hoping to escape with a loss of just 12.4% from their near peak purchase price. If this house were on a less traffic riddled street I would say maybe, but I think it may take a deeper rollback given the street it is on. We'll see.
There is very little quality inventory out there right now, rates remain low, and the economy is still growing. So who knows...maybe someone falls in love with this house and can live with the traffic. Spanish houses are lovely, but location trumps all in my view and I think a deeper rollback is needed to clear this property.
0 comments:
Post a Comment