Never give up the dream! (On Ben Ave.)

This is a really cute little house (click to enlarge image) that has been sitting on the market vacant for 252 days without a sale and counting. They say there are only three things that can interfere with the sale of a house: (1) condition; (2) location; and (3) price. So let's see if we can figure out which one it is, shall we?

"Condition" includes a lot of things. It's not just the aesthetics, it's the roof, a/c, paint, windows, electrical and plumbing. I have personally seen this house and can say that it is in move-in condition. It looks to me like it has a new electrical panel, new central air, new interior and exterior paint, a new bath, a newer roof, and a new kitchen (not a top of the line kitchen, but a very tasteful new kitchen). I would replace the louvered windows, but that is really a very minor change. In sum, I'm pretty sure condition is not the problem.

The location of this house is a bit of a mixed bag. I really like the neighborhood a lot. But, as you can see from the Zillow aerial photos, the house is, well, freeway close. That said, there is a sound wall with lots of trees so the noise is minimized and you can't see the freeway. Thus, I don't think the location is the real problem either. (You see where this is going, don't you?)



In my humble opinion, the only possible reason this house has not sold for nearly a year is ... waaaaait for it ... The Price! At $750k, this is the lowest-priced house in the neighborhood, but apparently not low enough. The records show that it was purchased for $650k a year ago, however, Zillow is currently estimating the house at $638k. It's not exactly confidence inspiring. I mean, you expect a really low Zestimate when the house hasn't changed hands in decades, but this house just sold a year ago. And even if you toss Zillow out the window all together, the MLS shows that right now you could buy a 1,600 sq. ft. 3 bed/2 bath on the edge of Sherman Oaks for that.

So that's what I'm dealing with day in and day out for the last six months. It's like the whole city was playing musical chairs, the music stopped, and certain people grabbed two, three or four chairs. Which left buyers like me standing around, scratching our heads, and wondering: "What the hell are you going to do with all those chairs?"

Note: This house went inactive and then came back up at the same price but with a new MLS #: F1724606.