Pont Neuf, Ecole Militaire, Oberkampf

Last week was quite a whirlwind.  By noon on Monday we had two offers pending, one of which had been faxed over sight unseen, and on Tuesday we made a third one.  About that time I posted this to my tumblr:

3 options currently on the table:

-super central location at a killer price (like, bargain of the century yo, because the seller is rushed), but 6th floor walkup without a view (M: Louvre-Rivoli)

-posh neighborhood with a nice view of a church and concierge, but smaller than the other two and 5th floor walkup (M: Ecole Militaire)

-young/trendy neighborhood with balcony (but not a great view or anything, just a 3rd floor walkup overlooking a normal street).  The only “but” is the neighborhood, which is young and trendy and fine but would not be as good as an investment as the other two (in terms of resale and rental value). (M: Oberkampf)

So let me backup and explain.

Offer #1, Pont neuf:  Sight unseen.  On Saturday night I got a seloger alert for a 5th floor walkup on Rue du Pont Neuf (I die, I die, I die) that needed to be gutted.  Nothing exceptional…until I notice that it is listed with a non-Parisian agency at about half the market average for that street.*  I call my companion, who is out of the country, and ask him to fax an offer immediately.  Even though we are not looking for a 5th floor walkup overlooking a courtyard, we would be fools to pass up such an opportunity.  When my companion gets back in town Monday morning he calls the agency and asks if they received his offer and how to proceed.  “Which offer?” the agent asks.  Over the weekend they received over twenty offers at full asking price, also sight unseen! Wow.  The agency says they won’t accept any offers without a visit, and that there is an open house on Thursday.  We are tentatively hopeful, because we know that we have no chance against a cash buyer.  On Tuesday we call with some more questions only to be told that the apartment has already sold.  “What?!” my companion asks in surprise.  “The owner already sold it on her own,” claims the agency.  As is often the case, the transaction is shrouded in mystery and we are left with the impression that we’ve been scammed.

Offer #2, Oberkampf:  I was the fifth person to visit this third-floor walkup with balcony.  The building was in great condition: beautiful stone building that had just been redone, cellars that had just been redone, an interior staircase that had been voted on.  The apartment interior was also great – the seperate bathroom/WCs had been redone recently and the seperate kitchen was completely equipped.  The current owner had turned the one-bedroom into a studio, tearing down the wall between the living room and the bedroom, so we would need to put it back in (and possibly tear down the existing closet in the living room and add closets to what would become the bedroom).  No biggie, though, and I quickly made my offer at full asking price.  The agent says she’ll call back by Wednesday, but she doesn’t.  I am out of the country and my companion is not able to get in touch with her until TUESDAY of the next week, when she informs us that the sitting tenant has also made an offer and thus has priority over us.  Eff me gently with a chainsaw.

The apartment is the windows with the balcony and the one window to the left of the balcony.

Offer #3, Ecole Militaire: This was a by-owner listing on PAP, and though it was tiny, and nearly 12k/m2, we were really excited about the view.  There was only one photo in the listing, of the view to the east:

Eglise Saint-Pierre du Gros Caillou

But it was the Western view that took my breath away:

Dying. No caption needed =)

The apartment was tiny, and now that I’ve had time to think about it, not really functional.  Even though it was just redone – new floors, windows, heating, kitchen, and bathroom – there were no closets.  Not a single shelf!  And I don’t know where you would put a fridge, oven, or washing machine.  Still, we made an offer at full asking price on the spot.  But as usual, the owner was looking for a cash buyer, and we were informed a few days later that he was only considering the offers that did not have a clause suspensive.  Yes, an apartment with no closets had received multiple offers without clause suspensive.

At the beginning of the week, I was so optimistic – three offers by Tuesday, can you imagine?  But the reality of the Paris market is that an offer means nothing, and a week later here we sit with our hands empty.  So sick of this ish!

*I’ve posted here before about the crazy deals I have seen listed with non-local agencies who are too lazy or don’t care enough to figure out the actual market price of the apartments they’re listing.  When I see a non-local number now my ears perk up and I play a little closer attention to the ad.

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3 Responses to “Pont Neuf, Ecole Militaire, Oberkampf”

  1. Struggler Says:

    Wow, things really seem to be hotting up! Good for you for having the courage to make these offers!

  2. baresytapas Says:

    I entered this site by chance, but I found very interesting. A greeting to all the people who visit this page.

  3. Lani Says:

    Bonjour HousehuntinginParis!

    I just returned from France myself! Had I known they had auction houses akin to Skinner I would have explored further:)

    The scarf had a pre-auction estimate of 5-700.00, I assume because of the limited number, age, rarity, etc. If you look into the past sales at Skinner you can see what the items sold for. Hopefully this link works:

    http://www.skinnerinc.com/asp/fullCatalogue.asp?salelot=2488+++++740+&refno=++835881

    Gavel price was 250, with taxes and fees the total was about 300.

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