Friday, March 6, 2009

Ocean Views - $315 sq/ft in Arch Beach Heights!


I recently noticed that the house at 1420 Del Mar sold for only $832,500, about 50% of the original asking price. It is a 4 bedroom, 2640 square foot home with ocean views. I toured it a while ago.

That works out to $315 per square foot. This is about what Arch Beach homes were selling for in 2002 or 2001.

This is a price point that will attract buyers in Laguna Beach, yet there are plenty of sellers out there who are asking much more, hoping for an ill informed buyer to happen along and get suckered.

Luckily, no buyer gave any credibility whatsoever to the original $1.6 million asking price, as listed by Keller Williams realty. Sorry Keller, no morons bought your perception of "value".....

4 comments:

Anonymous said...

Yeah, prices need to come down up there a lot. In the meantime, a property down the road from this one, 813 Van Dyke is a bank owned property, I believe. I think the bank took it back for over $2 million. It's now on the market at a substantial discount -- $1,299,000. Comp killer.

Anonymous said...

Curious... what do you think is a good price for an ABH house with peek-a-boo views in this market?

Mr. Blue said...

I'd say a good price would be $300 per square foot for an average house.

Anonymous said...

wow that house had great views and lots of potential..can't believe it sold for $315 sq/ft