Tuesday, December 11, 2007

Flip Flop

Another data point on OC home prices. I hit a few open houses last weekend up in the area of Terry Road, the neighborhood by Nyes & PCH. I went into an open house and asked "What ever happened to the house for sale over at 2800 Terry?"
The agent at the open house said that the house had been taken off the market. Must be waiting for the spring selling season in hopes of getting an offer.

I looked at the house from the outside and it certainly looked empty. The last asking price on the MLS was about $2.5M, which is very high for the neighborhood. The entire neighborhood has inconvenient beach access and suffers from PCH traffic noise. The next time you get OC quotes on comps from an agent, take them with a grain of salt if they are before October!

The house is new, but it is pretty vanilla inside - scattered on three floors and really lacking in design energy or excitement. Methinks it won't be going anywhere fast in 2008.

1 comment:

Land of Delusion said...

I followed the link from your post on IHB. Dig your blog so far! I'll be sure to keep checking in.