EFTA01837186

To: 'eevacation mail. om[[email protected]] From: Sent: Sun 2/20/2011 7:26:28 PM Subject: 252 El Bravo Jeffrey 252 El Bravo (sw corner of Travers and El Bravo) is going to a court-ordered auction on March 1. Marty List, who had the listing, is now concerned that the highest bid will be $6.3. It was listed at $8,995,000 and there was an appraisal around that. There were two offers the highest at $7.9. People thought these prospects would come back and bid but, according to List, not so. There is a prequalifying process which he is privy to. Of course, they may be waiting in the high grass until the last day. It is a John Volk. with Mizner stone details, 9958 sf a/c, 12,357 sf overall on 150x160x168x165 (25,500 sf). It shows well and is very pretty. It is in good condition. If it sells in the mid $6's it is good value because, minus the feathers and distress signals, it should bring in the mid $8's. Consider: Last week, 111 El Brillo (179 x 167 x 193 x 167 or 31,000 sf) with a house thought of as a teardown brought $6.6 (plus a commission). 130 El Bravo closed at $9.3 (listed at $9.995). It is a landmarked Wyeth on 193x175. The house is 8000 sf a/c and 11100 o/a. And 300 El Brillo ( abutting to the south) brought $9.5 for 9952 sf a/c (13,000 sf oa) on an acre but a much less desirable house. The bidding process is detailed. If you might be interested, I will get into it more deeply tomorrow. Paul EFTA_R1_00218583 EFTA01837186