23% Off in the Hill Section

Posted by Dave Fratello on Friday, November 16th, 2012 at 5:55am.

The election's over, the year's ending, and you'll start to see some would-be sellers who mean to sell actually showing that they mean to sell.

One case in point is a Hill Section listing into its 6th month now.

1034 Duncan
1034 Duncan Place (5br/4ba, 3150 sq. ft.) is a 2000-built home with a 90s feel, though it has been refreshed and updated and is sharp in places.

They launched this one in June, amid all the chatter about an upswinging market, at $2.4m.

It has tumbled since.

As of Thursday, they're asking $1.849m (-$551k/-23%).

It gets ocean peeks, and maybe you'd say views, from a couple of spots, including the rear balcony. The home has an upside-down layout with living spaces up top, to feature those views.

Worth noting: The listing calls these "fantastic ocean views," and they've slated a sunset brokers' open for Friday 4-6pm to show them off. We're saying "peeks." They're saying "fantastic" views. Well, you say tomato...

Whatever the home's appeal or views, the location along Duncan Place – an alley – isn't helping.

Now, here, the cuts aren't just about the fact that the selling season is all but over now for 3 months. (Slight overstatement.) The sellers seem to need this deal to move on another property.

That's motivation x 2.

Can they pull it off with a sub-$2m price?

1027 Boundary
Substantial cuts on Hill Section alley properties... that reminded us of 1027 Boundary Place (4br/4ba, 3250 sq. ft.), a reasonably large, quirky, old-world European-inspired home that sold in September for $1.475m (-$174k/-11% from start).

Interesting contrast here – very similar interior square footage to 1034 Duncan Place, but a much less updated or straightforward house.

But Boundary had clearly better views, and a price nearly $400k lower.

No way 1034 Duncan drops near $1.5m, right?

The last trade was in April 2003 at $1.3m.

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Note: We could not link to 1034 Duncan via Redfin, despite a few attempted workarounds. Our old link didn't work. That's why we linked to the property promo website instead.

If you haven't noticed (you probably have), Redfin's been messing with success and degrading their information and user experience with purported "upgrades." Sad to say.

Update: Here's a working Redfin link. Whatever the hiccup was, it's fixed. 
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