Santa Monica : 90403 848 23rd st Lot Value – Santa Monica homes for sale
Address: 848 23rd – 90403Details: 2 bed/2 bath teardown on an 8,000 st ft lot
Description: BIG OPPORTUNITY! THIS SWEET COTTAGE SITS ON A FLAT 8000′ LOT ON THE BEST BLOCK SOUTH OF MONTANA. AMAZING DEVELOPMENT OPPORTUNITY TO EXPAND ON OR REBUILD. GREAT WIDE STREET, FRANKLIN SCHOOLS. STEPS TO MONTANA SHOPS + RESTAURANTS. VERY QUIET AND PRIVATE.
Listing History: 12/14/10 – $989,000
OMG, a well located teardown in 90403 for less than a million!…Well, not so fast. Despite the fact that it is a pretty slow time of year for real estate, high quality lots get a lot of attention when listed for well below market value.
I actually think this listing strategy isn’t crazy when trying to get a relatively quick sale done. Lots of excitement clearly got generated in this case with such a low list price and the ensuing bidding war is likely in its final stages as I post this right now. Somebody I talked to guessed this would sell for about $1.35mm when it is all said and done. I think that will turn out to be a pretty close guess. We’ll see.
20 offers in this market . Why bother when all you have to do is list the property correctly get 5 or 6 offers and still get the fair market price. The agent obviously dosen’t know what they are doing.