Welcome to this version of "New To Market," our look at a listing with a reader vote. Consider this an unscientific way to take the buying pulse of a wary public. Feedback and nominees to the tipline, please.
A reader alerted us to this possibly historic, potentially cheap (in a relative sense) "mansion" in Mt. Washington. The five bedroom, three bath house is a bank foreclosure, and is looking for cash offers only. The property was designed in 1905 by John C. Austin, who was the architect behind Griffith Observatory, the Shrine Auditorium, and City Hall. Austin was also a civic leader, and as president of the Los Angeles Chamber of Commerce, "advocated federal spending as a means to stimulate the economy" during the Great Depression. But we digress. According to the listing, the house is "reminiscent of the Ante-Bellum plantations of the South" and includes a U-shaped driveway and two fireplaces. The house was last sold in March 2008 for $1.049 million (down from an April 2005 sale price of $1.2 million). Today's asking price: $499,900 or $86 per square foot. Listing is here.