November 7, 2011
A Few Steps Back For 17 Costa Over In Bernal
Listed for $599,000 in July 2005, and having been purchased for $319,000 four years before, the 900 square foot cottage with an unwarranted bedroom in the garage of 17 Costa sold for $645,000 that August.
A year later the property appears to have traded for $641,000 in 2006. And in July of 2010 the Bernal Heights home returned to the market priced at $699,000.
Withdrawn from the market after four months and two price reductions (last listed for $649,000), 17 Costa has now returned to the market as a "short sale" for $399,000 but missing any reference to being pre-approved, a sale at which would represent a 38 percent ($242,000) haircut from both 2005 and 2006.
And yes, in the backyard lies "the original foundation of a previous expansion," the permits for which were approved in 2003 but then cancelled in 2004.
∙ Listing: 17 Costa (1/2) 900 sqft – “$399,000” (short sale) [Redfin]
First Published: November 7, 2011 6:30 AM
Comments from "Plugged In" Readers
I first read this as being on Coso rather than Costa and that would have made it the lowest price house on the north slope of Bernal. Alas this house is on the other side of the neighborhood. $400K seems about right for this place especially if that foundation can be salvaged for a renewal of those expansion plans.
Posted by: The Milkshake of Despair at November 7, 2011 12:14 PM
I first read this as Costa del Sol, which would have made it the lowest priced house in Marbella. Alas, this house is not overlooking the Mediterranean Sea.
Posted by: Dan at November 7, 2011 10:04 PM
And ironically this place would be overpriced had it been positioned in an equivalent location (i.e. inland middle class neighborhood, near the autopista, no view) in the Costa del Sol.
Posted by: The Milkshake of Despair at November 8, 2011 7:29 AM
MOD, just keep on telling everyone what pops into your mind at all times. Turkey or pb & j for lunch. Matlock or Scooby Doo. The message board wants to know.
Posted by: [anon.ed] at November 8, 2011 7:55 AM
Well, I for one thought all 3 riffs were pretty funny
Posted by: dont get it at November 8, 2011 9:24 AM
"Turkey or pb & j for lunch. Matlock or Scooby Doo.'
Actually, for Matlock, it would probably be hot dogs for lunch, and for Scooby Doo, Scooby snacks and stoner food.
This would be an impressive sale at asking relative to the 2001 price.
Posted by: sfrenegade at November 9, 2011 10:13 AM