Tuesday, May 15, 2012

Gold Coast Sell Off?

Anybody else notice that there seems to be A LOT of homes for sale in the Gold Coast?
I don't think that I can remember a time when so many houses were for sale simultaneously, can you?

A quick check of RedFin shows that there are seven homes for sale, two of them being the most expensive homes for sale on the island.
These are not reviews as such. Most of the houses listed are not having open houses so I'm not sure if I will ever be able to review them.

Gold Coast Homes For Sale
1629 San Antonio
This place has an awesome location one block from Franklin Park and school. Its a modern house and from the pics it looks like it was stopped most of the way through a renovation. Though being 4-2.5 for $650k in that 'hood, it'll go fast I bet.

919 Central Ave
This is a fourplex on the GC border. Its a 5-4 for $565k...if it doesn't have any serious issues I bet that it sells pretty fast.

1134 Bay St.
This is a Colonial Revival a 3-1.5 for $989k...its on a great block in a great neighborhood and it looks like there's been some upgrades but still.....that seems like a lot of dosh to share a bathroom with your teenagers.....

1118 Grand St.
I've reviewed this house already...they've dropped the price from $700-$650 but I think they need to drop it another $100k still...

1626 Alameda Ave.
I reviewed this a loooong time ago and its back on the market....a quick look at the permit record shows that no legal work has been done on the place since then....price is still nuts.

And finally the two most expensive houses for sale in Alameda.
1221 Sherman St.
This house looks amazing from the pictures and outside. Its huge and on a large lot....a 5-4 for $1.675M....wow, that price is just well...I don't know...the current owners of this place were in and out of it in under a year!?!??! Amazing.

1217 Sherman St.
Same comments as above...except its a 4-3.5 for 1.6M even...

No Longer On Market
1007 Morton St.Its not listed as sold just off the market.?

1223 ST Charles St.
I reviewed this a while ago..its listed as pending. Good for them.

I think thats all of em. Did I miss one?

So, Realtors, what's up? Why is everyone trying to sell now? Are these people who have held on since the crash and now think its time to sell? Or, is it that they just can't hold on anymore?


Curtis said...

I'm pretty sure the Sherman Street property was purchased by flippers. I remember seeing this place for sale last year and then watching it get sold. Almost immediately there were workmen out on site. Then soon after they were done it looks like it's back on the market. I'd love to pull permits and see what they did as there's no way that roof was decent if the rest of the house was an indication.

The MadScientist said...

Ya I guess that's what they did..flip the place...I just didn't think flipping went on in that price range.
They bought the place for $1.1 million and within 11 months they had it back on the market for $1.8M since dropped to $1.675M.
The work they did too...full basement foundation redo, new roof, new kitchen, new, new, new...
They used real contractors too...not the typical fly by night types flippers use...
I bet they have put at least $300k into the place...and it looks like the family lived there the whole time...Crazy!
Its just an amazing amount of work to have happen in such a short amount of time.....
And that price...sheesh....

Leslie Harvey said...

1221 Sherman has a sale pending sign. Curious to know what it is going to go for! We need a good comp in the neighborhood in case we refi again to take advantage of the lower interest rates.

The MadScientist said...

Sale pending sign went up on 1221 Sherman yesterday I think! With this one, and the place on ST. Charles pending I'm hoping we'll be able to refi too!