Sunday, August 23, 2009

WeHo East SFR Sale

Catching up on some recent sales ... with the caveat that, in a nod to some of the prior posts about what's actually "WeHo", this block falls just to the south of the WeHo boundary ...

Remember our "At What Price Reality" post back in February with updates in March and July on the SFR at 955 N. Vista, which was a bank-owned 3+2.5, 1558 sq ft "fixer" that ultimately sold in late June for $700k after being listed starting at $819k last August.

At the time of the July posting, "Bubblewatcher" commented:
'In the meantime, this was the second lowest priced three bedroom sfr for sale in all of WeHo, according to the MLS. And there's another on the same street at $849K looking for backup. I think the lure in these instances is probably lot size and square footage compared to the other 3 bed listings, as well as price.'

I'm guessing the property being referred to is the 3+1, 1384 sq ft 942 N. Vista, which closed on July 24th for $812,500, with a prior sale in 2001 for $412,000. Lot size is 6100 sq ft as opposed to the approx 6500 sq ft of 955 N. Vista.

I either don't have access to, or am too lazy to find, the listing history on this one, although Bubblewatcher's comment would indicate only a slight prie reduction. Anyone remember if this one was upgraded, etc?


UPDATE: Some additional research shows that there were only two 3BR condos of comparable size sold in the past three months (in fairness, August data is not yet posted). Both were at 718 N. Croft Ave, aka the "Croft Villas", which we profiled as one of our very first posts back in February as an example of new-construction developer distress:

#201, a 3+3, 1700 sq ft unit sold June 17 for $850,000. "List price" from the Croft Villas website shows $1,099,000.

#301, with the same specs at #201, sold for $890,000 on May 28 following an initially absurd/"party like it's 2007" list price of $1,249,000.

Now, the Croft units are also technically not in WeHo, but some might argue they sport a better overall location to the 900 block of Vista.

No comments: