For some comic relief, reader Brad sent the Redfin link for this 3 bed / 2 bath house at 3766 Sawtelle Blvd., asking $549,500: "Definitely looks like a cute little house, until you look at the street view below..." Its MLS Description is:
"Bank owned foreclosure. Beautiful 3bed + 2bath home. Light & bright! Kitchen w/ stove, dishwasher & refrigerator. Good size rooms! Information herein is not verified by agent. Buyer to verify all information & rely on their findings. All offers must be submitted on CAR form w/pre-approval (NOT pre-qual), copy of earnest money check +proof of funds (if cash offer) & agency disclosure. For a guarantee receipt of your offer please check our private remarks for fax cover & faxing instructions...."
Redfin ends with a Google street view that says it all. Whew!
Friday, October 24, 2008
Cute little house on Sawtelle...
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Check out the sales history from Redfin:
Mar 23, 1988 $175,000 --
Mar 08, 1995 $184,000 0.7%/yr
Oct 22, 1999 $210,000 2.9%/yr
Jun 09, 2005 $463,000 15.1%/yr
Dec 22, 2006 $588,000 16.8%/yr
May 02, 2008 $493,807 -12.0%/yr
Is that May 02, 2008 price the bank taking the property back?
They're still trying to turn a 10% profit on that???
wow, that is beyond ugly
You are on the 405 in one minute though.
Funny...sandwiched between 2 apt. bldgs....how many units can you get on the lot? Maybe its a screaming deal, for an R-2, or R-3 lot....
Noisy apartments on one side, alley and strip mall with greasy donut shop and a Fatburger on the other side. The garbage fumes must be overwhelming!
Looks like "A Real Home of Genius" Dr. Housing Bubble style to me.
This is the funniest thing I've seen in a while!
$199,000.
Woo-Hoo! I made it onto Westside Bubble!
- Brad
Ooo, not just a fat burger and donut shop, there's more! You get a gas station within spitting distance, the current construction dust and future increased traffic filth of the 405, plus the 6 high-volume(both sound and flow) lanes of Venice Bl which includes the bonus of squealing/belching MTA buses every 10-15 minutes.
This is not a house for sale, this is a purchase of cancer, stress, litter and noise, all while watching your savings-by-way-of-home-ownership shed its value for next few years. Ahhhhh, the SFR dream of Los Angeles, how sweet it is!
Though I must temper my enthusiasm with the knowledge that the lot has R3-1 zoning. If the dream of ownership isn't enough, why not the dream of development? If you could grease enough palms to exempt from the R3 requirement of a 5000 sq. ft./lot, then blackmail enough people to be exempt from parking requirements, then build some Amsterdam-skinny apts/condos on the 25'x90' space, maybe you could make it work. Setbacks shmetbacks!
I don't understand why the 1988 sellers didn't cave in to the developer next door who built the apartments on 3 adjacent lots in '86.
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