Summer 2017 Market Update: Homes Between $700k – $800k

June 23, 2017
In this series we’re taking a look at homes sold at various price points around LA’s Eastside in the first half of 2017. Since homes in today’s market rarely sell at their asking price, we’ll be focusing instead on selling price. What will a budget between $700,000 – $800,000 get you in Eastside LA and what kind of process should you expect? Read below to find out.
839 N Avenue 64

839 N. Avenue 64: Be still my little vintage heart! This 888 sq ft Garvanza bungalow had me at hardwoods, arched doorways, casement windows, moulding, farmhouse sink, and clawfoot tub but that was before I went outside to the redwood decking, pergola, converted garage (oh those exposed beam ceilings!), and bonus studio. All this and it even sits right in the middle of historic Garvanza. Sigh. Was asking $585,000 and closed 3 weeks later for $760,000.

 

1167 montecito dr

1167 Montecito Dr: Who could resist this beautifully landscaped Montecito Heights gem with an enclosed private courtyard area, original hardwoods, fireplace, arched doorways, an updated kitchen, a lovely deck, and a huge yard with a bonus studio, and panoramic views? Buyers pounced on this one –  it got over 30 offers within it’s first week on the market and closed less than a month later. Was asking $625,000 and closed for $792,500.

 

6301 Meridian

6301 MeridianThis 1924 craftsman in Highland Park’s coveted Garvanza pocket is the perfect fit for someone looking for a home with original character. Hardwoods, a fireplace, casement windows, leaded glass, period light fixtures, wainscoting, and crown moulding are just the tip of the iceberg with this vintage home sitting on a small but nicely-appointed private lot complete with a pergola, kid’s playhouse, and bonus studio space. Was asking $759,000 and closed for $765,000.

 

2823 w avenue 32

2823 W Avenue 32: For homebuyers interested in a bonus guest house for in-laws, friends, or potential air bnb income this character bungalow centrally located in Glassell Park hits all the marks. With 1,040 sq ft in the main house, 400 sq ft in the guest house, and a 200 sq ft office space there’s plenty of room to spread out not to mention restored hardwood floors, built-ins, and super hip gold accents throughout. Was asking $697,000 and sold for $775,000.

 

1521 Wellesley Dr

1521 Wellesley Dr: This dreamy Adams Hill home has plenty of character, a  great school zone, is centrally located near Glassell Park, Eagle Rock, Highland Park, and Atwater Village and damn if a tree growing through a deck doesn’t get me every time. I picture dinner parties, fairy lights, and maybe even a tree swing. Swoon! Was asking $698,000 and sold for $780,000.

 

What to expect with a $700,000 – $800,000 budget:

As you can see with some of the rather drastic price jumps above, this price point is one of the most competitive right now. But the good news is there is plenty of inventory to choose from with updated character homes in wonderful pockets. For the most part you’re still hovering around 1,000 sq ft but you’re getting better locations and much better finishes than the price points below. If you want more square footage you can have it but you’ll need to make some concessions with finishes and location, depending on what’s important to you. 

Again, it’s good practice to set your search about $100,000 or more under budget, leaving some wiggle room for a potential bidding war, closing costs, and any unexpected repairs you may encounter. Ready to start looking? Click here to contact me today!

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