Saturday, January 5, 2008

Idaho flopper: the Rerun

On November 11 we revisited this flopper at 2320 Idaho Ave., SM that we first visited March 26. Originally for sale in 11/05 at $1,399K (photo above), it finally sold 4/4/06 for $1,335K. Post-flip it was listed 3/22/07 for $2,395K. After price reductions in May and July, it was still unsold at $2,195K.

It's a 3 bed / 3 bath '20s house with a '60s 2-story addition on a tiny lot (4,750 square feet according to Zillow), next to an alley, across Idaho from the Franklin School playground, "Completely remodeled with hardwood floors throughout, new custom baths, kitchen with stone and stainless appliances."

It left the market at the end of November. Could it have actually sold? Nah. It's back, with a new listing date of 1/4/08. The punchline: they couldn't sell it in nine months during a hot market. So what did they do differently this time? They raised the price back to $2,395K!! Oh, that was the problem, it was too cheap!


WarChestSM said...

Nice catch.

I almost feel sorry for the agent trying to sell this thing.

I mean, for $50K LESS you can go buy 2714 Washington. I did a post on it so you can see that for a bit more info. But the point is, 2714 Washington's lot size is almost 2,000 sq ft larger, has 6 bedrooms and 5 bathrooms (Idaho has 4 beds/3 baths), Washington's interior has OVER 2,000 MORE square feet than Idaho's...oh yea, and Washington has a pool, a roof deck, a pool house...and I will be polite and not describe how cramped and small Idaho felt.

Ok enough with the rant..but do these sellers think that buyers are retarded or something? Ugh

Anonymous said...

2714 Washington is pending sale. It will be very interesting to see the sale price once it closes.