Here are tales of two spec builders north of Montana, which some of you can never get enough of....
One may have sold the highest-priced new house on a regular lot (60-foot, 8,700 SF) east of 7th Street. The 5 bed / 6 bath house at 2502 Marguerita (above) was listed 10/1/08 for $5,625M, beating our last record of $5,200K, and entered escrow 11/4. Last sale was 10/23/03 for $1,695K, according to Zillow. It's described as:
"Beautiful, warm & spacious super cool contemporary in coveted No of Montana location. Almost 7000 sqft feet of brand new, quality construction w/top of the line finishes. The main level of the home features a large open floor plan, a study and sleek eat-in kitchen. Upstairs is home to 4 generous bedrooms inc. grand master w/spa bath, & lower level is an entertainer's dream: screening room, gym, wine cellar, office. The outdoor areas offer dining patios, nice grass yard, and a great rooftop deck." 
The other appears to be bailing, attempting to sell the vacant lot-and-a-half (11,250 SF) at 444 10th Street, with Richard Ramirez (architect of high-end Spanish houses) plans (but apparently not permits) for $3,130K. SM Distress Monitor covered this today. Wonder if construction financing dried up?
Listed 12/21/06 for $2,700K, I recorded it selling 6/6/07 for $2,750K. Above is a "time warp" interior photo of the two-story old bungalow that has since been demolished (I was hoping to find a photo of the front). But its most recent sale appears to be 8/15/07 for $2,950K. Did the first buyer resell it?
Added (thanks, Frank!!): Here's the MLS photo of the old house, and confirmation of its 6/7/07 sale for $2,750K.
Saturday, November 15, 2008
Success and failure north of Montana
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5 comments:
i spent time inside 2502
nice - but the main great room felt too long and narrow
like a bowling alley
but a nice job overall and i am glad to see the nice young couple that built it make a healthy profit
Click over to forbes
they feature venice as a place where house prices are solid - they say venice is one of the easiest places in the usa to sell a house
http://www.forbes.com/2008/11/06/homes-sellers-suburbs-forbeslife-cx_mw_1106realestate_slide_9.html?thisSpeed=15000
(I was hoping to find a photo of the front).
Ask and you shall receive
These are shacks
go visit 808 Adelaide - that is an example of fine quality craftmanship
let's step back and see what that baby sells for - will be a good sign of whether the market for high end in sm is up or down
Actually, 2502 was not a spec home. My husband and I built it to live in it, and ended up moving as quite a surprise. We loved that house and built it with the total care for our own family! We are happy the new owners will enjoy it.
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