New on the MLS: 24 Hours on the Market

clock.jpgThere are a lot of houses out there that have been sitting on the market for months and months. I can name a few in my own little neighborhood—in fact, there is one just two doors down. It’s actually a cute place, but was overpriced from the get-go, and despite price cuts, it’s still sitting. I actually think this is in part a factor of the bad up-front pricing. It was clearly overreaching, so no buyers came…now that it has been sitting so long, I get the sense people are waiting to see just how far it will drop before they try to swoop in for a deal. I think it’s a common problem. Despite that, I’ve also noticed that there has been an uptick in sales in the area. I think houses that are well-maintained and desirable—and are priced right—are selling. I also think there are a few brave souls out there who are putting their houses up for sale without being under duress. I’ve noticed a handful of new listings lately that look interesting. Here are a few that have just hit the MLS: 

  • This 3/2 on Silver Lea Terrace is billed as a “stunning 50′s modern,” but with 1,580 square feet, it comes in at a hefty $630 a square foot. 
  • Over in Los Feliz, this 4/6 has more than 4,000 square feet and has only been on the market for 24 hours. It’s in a good neighborhood and it’s listed for $1,199—which brings it in at $282 a square foot. That’s pretty low, so I’m curious to check this one out and see what the story is. 
  • In a different part of Los Feliz—but a very charming little enclave—is this pretty 4/2.75. On the market for one day at $1,199. That seems to be the new magic number in Los Feliz, we’ll have to see if it holds. In March, a Spanish 3/2 sold on the same street for $1,169. 
  • This cheery 4/3 just hit the market at $1,129. It’s in the Franklin Hills, but looks like it has a nice flat backyard. 
  • In Echo Park, this one has technically been on the market 48 hours, but it’s interesting—it’s a classic Bunker Hill Victorian that was moved. It’s a 3/2 for $649,000 and was last sold in 2005 for $689,000. It’s got competition, though. Just down the street is this redone 2/2 that’s listed at $675,000 and has been on the market 165 days.