Call Off the Bump

Posted by Dave Fratello on Wednesday, May 28th, 2008 at 3:43am.

A 3-week experiment with a price increase now has been called off at 923 1st.

As we noted earlier this month (see "One Up, One Down"), on May 6, the list price for 923 1st shot up from $7.375m to $7.595m, same as the price from March 26-April 28. There were just 8 days to catch the discount then.

Today, the price is down again to $7.350m, $25k below where it stood from April 28-May 6, so it seems buyers didn't completely miss out on a bargain here.

It's hard to figure what's up, but it's not hard to imagine some terse meetings about pricing. (We're guessing.)

The listing began at $7.998m in early January, so it's now down $648k (-8%) from there.

The home is spectacular in many ways, and would be an especially great place to visit for a rollicking pool party. (See "Unpredictable.") In fact, in that alternative universe in which your blog author is a single guy with deep pockets entertaining the rich and famous, it'd be a spectacular choice for a radical pad – big views, big fun.

Alas, it's not a family home, and that sticker price (er, those various sticker prices) doesn't work but for a few. We still think there will be quite a bit more cutting to come if a deal is to be made.

Another Hill Section listing that recently made a bump, 312 S. Dianthus, is standing firm for now at $3.749m, a boost of $259k (+7%) after it began at $3.490m. We'll check in later to see how that's working out.
comments powered by Disqus