Call Off the BumpPosted on Wednesday, May 28th, 2008 at 3:43am.
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.
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