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The Dirt on Remodeling

Posted by John Hathorn on June 3, 2016
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2550.LaMesaWay

A new bathroom might give you a higher “joy score” but a new roof will get you a better return on investment. Sounds silly in this north of Montana Ave marketplace, doesn’t it?

According to the National Association of Realtors, aside from the need to upgrade worn out features, the two biggest reasons owners put money into remodeling are to increase the home’s value and to improve their enjoyment of the home, however, there’s not a lot of overlap between these two goals.

This first of its kind study examined the following projects:

  • New master suite
  • Kitchen upgrade
  • Complete kitchen renovation
  • Bathroom renovation
  • New bathroom addition
  • Basement conversion to living area
  • Attic conversion to living area
  • Insulation upgrade
  • Closet renovation
  • New wood flooring
  • Hardwood flooring refinish
  • HVAC replacement

The complete report can be found by clicking here.

Here is the latest and greatest 90402 real estate news of the past 2 weeks.

417 10th Street –  6 bedrooms and 7 bathrooms for $5,299,000.  A Contemporary Mediterranean by designer  J. Charles.  Almost 6,000 square feet on 3 levels. 3 en-suite bedrooms upstairs plus large master suite and a big basement with rec room or possible home theater, 2 bedrooms and 1.75 baths.  Covered patio in the backyard. Last sold in July 2004 for $3,215,000.

717 22nd Street –  6 bedrooms and 6 bathrooms.  $4,895,000.  Updated Mediterranean with a nice walk score to schools and shops. Master bedroom has a reading room and his and hers walk-in closets.  Last sold in April 2010 for $3,300,000.

301 20th Street –  5 bedrooms and 5 bathrooms.  $4,700,000.   This has been available for a while now but recently re-priced. 8,949 square foot lot in Gillette Regent Square.  Beautiful corner lot location.

New Sales for the Past Two Weeks

603 25th Street –  . 5 bedrooms and 6 bathrooms for $4,995,000. Took a little longer to sell than people expected. A couple of price adjustments did the trick  

610 18th Street –  3 bedrooms and 4 bathrooms for $3,680,000. There were multiple offers on this remodeled 1920’s Traditional on 8,949 square foot lot. 3 bedrooms with own baths, formal living, office and open kitchen, family room overlooking covered porch.  Detached guest house (no garage), tranquil backyard with swimming pool.   Last sold in June 2015 for $3,600,000.

Closed Sales this Past Two Weeks

523 9th Street5 bedrooms and 5 bathrooms.  $4,286,300.

428 18th Street3 bedrooms and 2 bathrooms.  $3,150,000. Seems like an under market sale price but the home was on the city’s historic inventory list so getting a demo permit will not be easy.

Call me for a couple of upcoming attractions that are not yet listed in the MLS, priced from $1.9 million to $8 million.  And….here are a few that we have listed in the MLS:

421 23rd Street – 5 bedrooms and 6 baths $6,495,000

2550 La Mesa Way – 4 bedrooms and 5.5 baths $6,250,000

416 18th Street – 5 bedrooms and 5.5 baths $5,400,000

369 22nd Street – 5 bedrooms and 6 baths $4,095,000

1012 2nd Street Unit# 2 – 3 bedrooms and 3.5 baths $3,895,000

300 S. Canyon View Drive – 4 bedrooms and 4 baths $3,895,000

802 San Vicente Boulevard – 3 bedrooms and 2 baths $3,288,000

1023 S. Bundy Drive – 2 bedrooms and 2.5 baths $2,395,000

858 19th Street – 3 bedrooms and 3.5 baths $1,895,000

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