Monday, February 25, 2008

Right Price + Toys + Diplomas = Multiple Offers

Here's 2304 N. Sparks, in Burbank. Ew. It has been on the market forever, but just had a price reduction down to $575,000 (original price $699,000). That's an okay price for a 3+2 with 1450 square feet, although this is very close to noisy Glenoaks. HGTV's "Designed to Sell" redid the kitchen last year, which is no big deal -- they just painted the cabinets and put in a new floor. If they did the countertops, I recommend never watching that show again as they used the cheapest laminate available. It's also a short sale, and the occupants left in such a hurry that they left their kids' toys and their framed college diplomas there. I guess that shows the value of higher education. But anyway...they have two offers. I guess that's what "price discovery" is all about. Update 2/29/08: Listing agent Tricia Ebert has left me a voicemail berating me for my lack of professionalism in writing this post. She and I obviously have different opinions regarding the condition of the house and also what blogging is about. At any rate, she told me that the owners are in the process of moving out, and have not left their children's toys or their diplomas behind.


  1. Anonymous8:58 PM

    $575,000 for this? I live on planet Earth. This is a $200k house in Burbank, $60-85k most anywhere else in the US. Gezzz

  2. Anonymous8:33 AM

    There's no such thing as a $200K house in Burbank. Most US metro markets are not below $100K. What kind of stuff are you snorting?

  3. Anonymous9:00 AM

    Please, please tell us: from what colleges and in what majors are the degrees?

  4. Anonymous9:35 AM

    Original price. Agents LOVE to use this one. First list was when? 2006? Even at a short, it's not worth $500k.

  5. Anonymous10:19 AM

    It's great to read " Two Offers ".
    Means nothing! Bottom feeders coming in for a kill? I'll be impressed when you show us the offers. Not the crap every agent tells you. i.e. Oh we have a better offer than that! The property is worth it!
    Like they are there to help pay the mortgage and taxes.
    I'm with Anonymous; What degrees are on the wall?
    Real estate is far to valuable to leave to Realtors-the made up name for salesmen/women. Get a lawyer.
    You need protection from Realtors and Bankers.

  6. Wow, I think I need to start prohibiting comments from "anonymous"! Points of fact: the listing agent tells me her highest offer of two is for $550k. And the degrees were both from UCs, one was in psychology, the other I don't remember.

  7. Hey Judy, I just came over on a link from Pete Viles blog. Wow, you must take a lot of abuse seeing that your innocuous post about this house generated such venom.

    I'm not a big fan of RE professionals but there are good ones out there (such as you I'm sure). Unfortunately the bad ones have created quite a backlash against the industry.

    Thanks for the blog, it's informative. Keep your head up.

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