Westwood - Single Family Home Open House List - Sunday 8/31/08
Labels:
Open House,
Westwood Single Family Homes
| DATE | ADDRESS | BR | BA | SF |  LP |
| 08/31/2008 2:00 - 5:00 | 2250 SELBY AVE | 2 | 2.00 | 1,410 | $ 1,099,000 |
| 08/31/2008 2:00 - 5:00 | 2010 BENECIA AVE | 2 | 1.50 | 1,552 | $ 1,275,000 |
| 08/31/2008 2:00 - 5:00 | 10360 KESWICK AVE | 4 | 3.00 | 2,608 | $ 1,325,000 |
| 08/31/2008 2:00 - 5:00 | 811 WARNER AVE | 3 | 1.75 | 2,011 | $ 1,695,000 |
| 08/31/2008 2:00 - 5:00 | 10594 KINNARD AVE | 4 | 3.00 | 2,006 | $ 1,699,000 |
| 08/31/2008 2:00 - 5:00 | 2110 GLENDON AVE | 4 | 4.00 | 3,200 | $ 1,795,000 |
| 08/31/2008 2:00 - 4:00 | 10388 KESWICK AVE | 4 | 3.50 | 3,130 | $ 2,150,000 |
| 08/31/2008 2:00 - 5:00 | 10322 KESWICK AVE | 5 | 5.50 | 4,000 | $ 2,395,000 |
| 08/31/2008 2:00 - 5:00 | 257 TAVISTOCK AVE | 4 | 4.50 | 3,600 | $ 2,750,000 |
| 08/31/2008 2:00 - 5:00 | 1938 WESTHOLME AVE | 6 | 5.50 | 5,164 | $ 2,879,000 |
Subscribe to:
Post Comments (Atom)
August 31, 2008 10:56 AM
Please compare the 3 properties on Keswick, all on the same side of the street, with about the same property (land) area. Which one is priced wrong? Which is priced right? Can you build the most expensive one by buying the cheapest one or fixing up the mid-priced one?
One would think the ones with the high and mid-prices might be worried....
August 31, 2008 11:55 AM
There are currently 4 listings on Keswick. 2 of them are now in escrow, with 1 looking for a backup offer. And 2 of them are active listings. 10388 Keswick is a 4+3.5, 3,130 sq ft home on a 6,250 sq ft lot. This home is a completely remodeled Spanish home. The previous owner rebuilt the house from a single story home with the intention of living in the home for awhile. But then last year they decided to take on a new project in Beverly Hills and sell this home. The current owner bought the home last year for $2,000,000 and now its on the market for $2,150,000. The other active home at 10360 Keswick is a 4+3, 2,608 sq ft home on a 6,875 sq ft lot. This home is an absolute mess inside. The current owner tried to add on and remodel the house and stopped somewhere near the middle. The floor plan is very odd, starting with two front doors that are right next to each other and the original living room turned into an oversized master. Most of the finishes inside of the house remain to be done, including kitchen and baths. While it does have a decent square footage in the house, there is little yard space, with most of it either on the side or in the front. Its basically a project house. The current asking is $1,325,000.
Well as far as being priced wrong, the fixer at $1,325,000 is probley a bit high. With the unconventional floor plan, fixer condition, small yard, etc.. it will make this home hard to sell.
To buy the cheapest one and demolish and rebuild a new construction home like 10322 Keswick, it will probley cost more than a million to accomplish the build. Assuming your not a builder and your paying someone to build it, it may cost you for a house like that ~$250-350 a sq ft, depending on how high end you want the finishes to be. Additionally, because of the new mansionization ordinance in Los Angeles, I don't believe now you could build 4,000 sq ft on a 6,500 sq ft lot. Making that task unavailable and thus worth a little more in value.
August 31, 2008 12:45 PM
Thanks for the thoughtful reply.
Here is a serious question:
What sort of person thinks a house he/she bought for $2mm last year is worth more this year? If anything, one would argue for a 10%or greater cut in the value. Doesn't the market needs to clear of such thinking before there can be any real transactions?
September 1, 2008 1:10 PM
anon 1245pm
I am going to get to your question tomorrow as I will be researching and posting some information regarding resales. Homes that have sold in 2008 that have had prior sales in 2007 or 2006.
Post a Comment