New Low for Riverfront in Ortega?

4404 McGirtsA riverfront house that was originally listed for nearly 1.9M at 4404 McGirts Blvd. has closed for $965K — that’s almost 50% less than the original asking price! Was the property ever worth 1.9M? Maybe not. There was, however, an offer of well over 1.4M that another realtor brought them early on in the listing period that was turned down – ouch!

There’s an existing house on the property that will eventually be torn down to make way for a new construction home. The lot had about 150′ of riverfront and beautiful views of both the marina across the way and of downtown.4404 view

I wrote a post yesterday about a non-waterfront lot on a prime street in Ortega that just closed for about $250K — between that low on Arapahoe Avenue and now this one for waterfront, my prediction is that this is the bottom. If you’re waiting for deals, you should choose quickly because at these prices, they will begin to disappear.

If you’re looking for something special, please let me know. Sometimes I know about things that aren’t yet listed and/or price reductions that are about to happen. Inside information can help you snag a great deal.

Thanks for reading. Please join me for my next post about what’s happening in Ortega, Avondale and Riverside!