I've previously written last July about the value of 3216 Tyrol, which at one time was listed for sale at $3.2 or $3.4 million, and more recently listed for about $2 million. I said at the time, i'd pay 20%-30% less, given that the home was purchased in 2007 for $2M, back when values were a lot higher. My inescapable conclusion? The home in my opinion was worth to me much less than $2 million.
Well, it just sold for $1,685,000.
This is why I do not trust whatsoever the original listing prices for some of the homes for sale in Laguna Beach as being representative of what I should pay for a home.
This sets a comp price point of $358 per square foot for homes in the Top of the World Neighborhood. This is yet another decline. You probably won't hear about this from your agent. Until you ask.
2 comments:
You were correct on this one 100%
Congratulations.
Mr Blue, you are correct in many ways, but I must correct you in some numbers. You state that this house was listed at 3.2 million.
I bought it in 2006 for 2 million. The highest my agent ever listed it at was 2.9 million in what 2007 around the time the bubble burst. I took it off the market and At the time your blog was written, I had it re-listed it at $1,998,000. According to the MLS data $1,685,000 was sale at 85% of its list price. You can "stand by your comment" but that does not validate it as fact.
I do believe the listing agent (when I bought it) may have had it at 3 million, prior to 2006. Research it a little more,
I am very pleased with the outcome of the sale and this is a fine home.
Keep on blogging blue.
Chrissie
PS: What do you think of 655 Brooks Street?
My children and partner are enjoying the move to this great home!
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