We featured 8616 Sherwood Ave back in April in our "Walking Dead" post.As a reminder, this was a bank-owned, 2BR / 2 BA 1,440 sq ft SFR on a 3,100 sq ft lot in what I would argue is a nice "WeHo West" neighborhood.
It appeared that the most recent buyers ran out of money while renovating (although having seen the place, it looked complete), and the bank buy-back was $782,000.
First listed in November for a ridiculous $1,049,900, it was reduced/relisted multiple times, with the last listing being in March for $849,900.
Well, it looks like the property sold on June 1 for $810,000.
Congrats to the bank on this one. Hard to tell what exactly transpired, but it looks like they might have come out even on this. Best of luck to the new buyers - given the property and lot size, I'd argue for a mid $600s market value, although it does get a location premium (but not 25%).
3 comments:
8616 was ridiculous asking $1,049,900 in Nov. 08, but even more outrageous when it wanted $1,159,000 in Oct. 08 and around $1,250,000 earlier than that. Agree that even at a $810,000 sold price, it seems high for these times.
For a WEHO street as short as Sherwood Drive with only a handful of SFRs, there's an abundance of REO activity. Tiny 8709 Sherwood (765 sqft of home) went for $588,720 in 01/09 -- It had been asking around $800,000 during 2008, but now appears to be back with the bank or may have been bought at auction.
Other recent Sherwood activity:
8712: $915,000, Dec. 07
8564: $850,000, Oct. 08
8616 was ridiculous asking $1,049,900 in Nov. 08, but even more outrageous when it wanted $1,159,000 in Oct. 08 and around $1,250,000 earlier than that. Agree that even at a $810,000 sold price, it seems high for these times.
For a WEHO street as short as Sherwood Drive with only a handful of SFRs, there's an abundance of REO activity. Tiny 8709 Sherwood (765 sqft of home) went for $588,720 in 01/09 -- It had been asking around $800,000 during 2008, but now appears to be back with the bank or may have been bought at auction.
Other recent Sherwood activity:
8712: $915,000, Dec. 07
8564: $850,000, Oct. 08
His most recent interview on CHLY can be listened to HERE. Features: • Handheld, pocket sized, perfect for outdoor enthusiasts. I paid $70 USD per night for a superior room which at the time was about 2100 Baht and it includes taxes and full buffet breakfast. Industrial Oval Gear Meter.
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