Fixer Property Sold On Callicott

I’ve been following the properties around my new neighborhood in Woodland Hills. One home in particular interested me. It’s 6311 Callicott Avenue in Woodland Hills. It’s a three-bedroom, two-bathroom fixer with just 1,150 square feet of space. According to my records, it was on the market way back in March ’08 when it was reduced from $509,000 to $499,000. In May, it dropped again to $474,900. In July, the home made its final price reduction to $459,900. Well, recently the seller accepted an offer. I’m told it’s $435,000.

That would put this home at $378 a square foot. And that’s for a fixer. As far as I could tell, this home had no structural damage. It was clean, but not pretty. There was a lot of updating to be had – kitchen cabinets, bathroom fixtures, grass for the backyard, and the list goes on.

Taking a look at the current snapshot of the market, the average sold price per square foot is just $290 a square foot. Perhaps the difference in price is due to foreclosed homes? But this home had a number of things going for it.

1.  A nice 7,500 square foot lot with plenty of room to expand.

2. Open floor plan, making the existing space seem a little larger than it was.

3. Mostly cosmetic type upgrades needed, bringing down updating costs.

4. Location on a good street – plenty of trees, no busy traffic.

5. Good schools – Welby Way and El Camino School District.