A single-family at 1454 S Emerald Ave, featured around the midpoint of this recent University Village tour video with Realtor Gary Lucido, is now available for 27.7 percent below its 2007 sale price following yet another reduction.
The six-bedroom / 3.5-bath home sold in March ’07 for $1.2 million, went back on the market the following July for $1.15 million, and has inched slowly downward since then to a current list price of $871,900. When we shot this video with Gary last month, it was still listed at $940,900.
The home is one of two resales on the block of new-construction single-families — a 3,165 square-foot four-bedroom at 1413 S Emerald Ave is available in the $980s. A developer-owned five-bedroom with 4,299 square feet, located at 1401 S Emerald Ave, is listed for $1.32 million.
Just south of this block is a new playground ringed by new-construction townhomes, all featured in the video below.
Yeah, this one finally got my so curious that I went in there this weekend. So, like most REOs it will need a complete paint job, floors refinished, and new carpet. There are no window treatments either and there are some appliance issues.
But here is what is really interesting…the developer home at 1446 S Emerald, which was listed at $1.675 MM, went under contract this weekend!?!?!?!?!?! Can’t wait to see what it sold for. There is no way that home is worth almost twice as much. If it sold anywhere near ask then I’m betting the buyer did not have an agent. But will it appraise?