At a low enough price, houses get interesting

I was prowling through tomorrow’s preliminary open house list (not much that’s promising, but it’s still early) and noticed two houses that seem to be approaching realistic pricing and maybe even bargain status, depending on where negotiations ended up.

43 Doubling Road

43 Doubling Road

43 Doubling Road was purchased for $5.125 million in 2008 and is now asking $4.5. Good looking house that might be affected by the sale of the house next door for $2.9 last month but this one is not that one, so perhaps an appraiser will not downgrade its price. Back lot, which works for me because it removes the house from traffic noise, which is always doubling around here. It would be cruel to mention an offer extended for this a couple of years ago, an offer that was rejected by the sellers as ridiculously low and unworthy of even a counteroffer. As is always the case, I’m sure they’d like to see that buyer come back.

19 Terrace Ave

19 Terrace Ave

19 Terrace Avenue in Riverside is proof that not everything has recovered over there, although I’m not sure why not in this house’s case, because it’s quite nice. Owners bought it for $2.8 million in 2005, renovated it and put it back up for sale in 2008 for $3.495 and it’s been on and off the market since. Current price is $2.6, which seems like a good deal, but I haven’t seen it in years. In fact, I forgot it was still on the market. No back yard that I recall but that may not be so – I’ll stop by tomorrow and refresh my memory. But $2.6? There aren’t many decent Riverside houses for sale right now in that price range.

13 Comments

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13 responses to “At a low enough price, houses get interesting

  1. anon

    I’d take Terrace over Doubling any day – Doubling is strictly cookie cutter. Terrace has character, inside and out. Go see it tomorrow and find someone to love it.

    • ShedLessToolMan

      that is a real apple to orange comparison.. different size and price points and location.. it does seem that doubling is more the concept of a builder than an actual architect with respect to aesthetic choices if that is your point of comparison.. but, I actually like both homes and the prices are starting to get decent for the respective properties..

  2. Anonymous

    Ira? Is that you?

  3. Anonymous

    It seems houses in the $2.5 to 3.0 million range in RS are a tough sell except when they’re new.

  4. Interesting that 0.28ac is considered an “oversized” lot. Really? What is average for Riverside then?

  5. Anonymous

    Terrace Ave is really nice and it looks like they could have a real yard – just would have to take out that enormous tree! Be sure to check out its health and imagine what the backyard view / privacy would be like without it. Appropriate discount to new construction stuff, but I don’t think its comparable though. Just a nice house on an oversized lot. Technically, since its r-6, you could put an over 6k sf monster on that site. Good thing no one will tear this down though…

  6. FF

    I had a client offer $4.4 back in, I think, 2010 at 43 Doubling. Shot down without so much as a counteroffer. The owner lived in Dallas, had no loan, and was so painfully rich that they didn’t care if they waited. I hope they weren’t in the financial business, because I don’t want to know what the lost opportunity cost on $4.4 million over 3 years is. Probably a lot more than what their brilliance will earn them

  7. Anonymous

    There is no way Terrace ave is r-6….that’s a multi-family zone It’s got to be r-12. CF – are you able to confirm this.