Laguna cottage, '03 prices

We're going back to Laguna Beach today for an interesting property that just hit the market.

Beds:	4
Baths:	2
Sq. Ft.:	2,200
$/Sq. Ft.:	$363
Lot Size:	7,905 Sq. Ft.
Property Type:	Single Family Residence
Style:	Craftsman
Stories:	2
View:	Canyon, Hills, Trees/Woods, Has View
Year Built:	1944
Community:	Laguna Canyon
County:	Orange
MLS#:	L30596
Source:	SoCalMLS
Status:	Active
On Redfin:	1 day

From description: Laguna Beach's Best Kept Secret! This quintessential Laguna Beach style home has beautiful sprawling grounds with gardens, private patios, beautiful views and ocean breezes. In addition to the home's wandering paths, this home boasts an artist's workshop and a tranquil setting that is hard to find in the hustle and bustle of the active Southern California Lifestyle. When you think it can't get any better, it does! Even though you are in the perfect zen setting, you are an easy walk to town, the Sawdust Festival, Pageant of the Masters, fine dining, boutiques, Main Beach and so much more! Don't miss your opportunity to own this gorgeous home with large windows to absorb all the natural beauty that surrounds this property in a one-of-a-kind community with award winning beaches and Blue Ribbon schools that can only be found here in Laguna Beach...and all this at an affordable price!

How would you value this property? Does the artist's workshop do it for you? What if you would rather have all the modern amenities and granite counters instead of a crafstman cottage?

If you're interested, there will be an open house on Saturday and Sunday between 1 and 4 p.m. The listing does not considering this a short sale, so we won't either. We are told, however, that this property last sold for $825,000 in late 2003.

Assuming the house sells for the full asking price, and we factor in 6% for sales costs, the loss would be $73,940.