An interesting property was pointed out to me today. I hadn’t noticed it because I don’t have any clients in this range unfortunately. It’s weird that I didn’t notice it anyway because I actually lived at the place for a period of time. That’s a whole ‘nother story.
It’s 4545 25th street. Purchased in February of 2007 for $2.725M. It was basically brand new construction at the time. Not having seen the pictures yet, I cannot confirm that this is a true apple. I do know that the property was done, done, and done when it was last on the market. So I doubt a remodel happened in the interim but I could of course be wrong about that. It’s on the market now for $2.895M.
What’s interesting is that it sold in Feb 2007 after a price reduction, a change of listing agents, and it sold for under asking. Now they are out at more than it was initially listed for. I’d link you guys to it but there aren’t any pictures yet. I’ll edit this when they come out.
–Kenneth Kohlmyer a k a der fluj
november 2004 sale:
$1,050,000, 931 sq. ft.
2007 listing: by leslie de B.
How is this an apple? Doesn’t it have to sell first?
You are comparing previous SELLING price, to the current ASKING price. Two different things. IMHO you won’t have an apple until it sells.
It’s a grocery store apple; cost vs. last years cost. Purchased or not the asking price has gone up.
“How is this an apple? Doesn’t it have to sell first?”
Is that your apple criteria? OK. Let’s see what happens.
This is certainly an apple. It was listed at end of ’06 for $2.95 after the seller completed a 2 year project of massively refurbishing the place. It required a minor price reduction, 2-3 months and an under asking offer.
The house is big (30′ wide lot) and nicely done, two problems though. Too far and finishes were really boring.
Seems like the seller is trying to break even (after commissions), I think this would be a challenge at this price point. Irrespective of the market, you can’t have any issues near $3M.
555 diamond as well as 636 28th are similar story apples. Both were sold ~2 yrs ago, both under asking and didn’t sell right away.
Pix are up. Yeah, you’re right Someone. It was 2.995M at first.
The bedroom with the big skylight used to be mine. Anyway, that isn’t just a skylight. There’s a small room up there. In my opinion they should have made that one a two story master. Damn the torpedoes (because they would have had to sprinkle the house). They could have made that one the master with a staircase to a study, above. There is a city view from that area. I hate leaving space unused, and this is a very unique space. The neighbor called it “the hobbit room.” haha. It’s definitely cramped. Nothing a dormer or two wouldn’t have fixed … they could have made an amazing crow’s nest study up there. I told the developers — really good guys — to do it. They didn’t want to sprinkle the house tho.