1602 Elm Avenue Costa Mesa Sold

1602 Elm Ave Sold

We at GateHouse Properties just sold this Costa Mesa real estate home at 1602 Elm Avenue in the Tree Streets neighborhood of the Mesa Verde area.

_{Just Sold in Mesa Verde by GateHouse Properties, this 3-bedroom home at 1602 Elm Avenue}

The home was priced (right) at $539,000, and we were able to get multiple offers for our seller, which ultimately led to a sale of $530,000.

The sale is good for sellers because it indicates interesting things about what is going on in the current Costa Mesa real estate market right now. First, a snapshot of the house:

Quick Facts – 1602 Elm Avenue Costa Mesa Sold

3 bedrooms, 2 baths, approx 1600 sq. ft, nicely remodeled bathrooms, large dining and family rooms. Original (retro) kitchen. Newer roof, large backyard, large “L” shaped driveway, 2 car garage. Standard sale.

Takeaways

OK, good news for Costa Mesa real estate sellers: You don’t have to have an amazing kitchen to sell a house. This home’s kitchen was original (some folks like the “retro” feel of it). It did have newer updated bathrooms, which makes it a lot easier to sell though. Buyers will usually settle for one room that needs to be updated (bathroom, family room, kitchen), but they will rarely go for a whole house remodel when they are buying Costa Mesa real estate homes. Seller tip: Get everything as clean and new as possible, including carpets, paint, and baths.

Why did it sell quickly?

_{This “retro” original kitchen did not slow down the sale of the home on Elm Ave, showing how hot the market is right now}

Mostly because the Costa Mesa real estate market has a lack of inventory, which I have written about this year. As of this writing, The Mesa Verde area only has 13 homes and condos for sale. Normally at this time of year, we would have 40 or more in a “regular” market.

It also sold because it was presented at the right price, and because it was “ready for sale”. Clean, and ready to go.

Does this mean you can price a lot higher? No, that strategy probably won’t work in this market. You can ask a little more, but don’t be surprised if you don’t get by the bank’s appraiser. Nobody does.

Other Signs the Market is Strong

Normally, a home with this kind of original condition would not produce multiple offers. Also, it has a challenging location – it sits directly at the exit of the Costa Mesa post office. It also was a mint green color, one that most people would look at from the street and say, “Honey, keep on driving to the next one”. This home would normally sit on the market for more than 90 days. This home sold in less than 3 weeks.

The market is hot for standard sales.

Thinking of selling or buying in Costa Mesa real estate? I know a really great broker who would like to help you! 🙂

Call Colin at (714) 743-9882 or E-mail me.