Can Palm Turn the Corner?

Posted by Dave Fratello on Wednesday, July 20th, 2011 at 3:42pm.

It's hard to believe more than 4 months have gone by with 1801 Palm (4br/4ba, 3900 sq. ft.) still on offer.

An attractive, newer (2000), corner-lot home in a great location – what's the holdup?

Yesterday Palm made its second cut, and is now offered at $2.129m, more than 8% below its 2004 purchase price ($2.325m). 

Maybe people don't like the tiered layout (as you can see here, the home runs along an upslope), or the thick, long shag carpeting, or the limited number of bedrooms (4) for the square footage. But none of these are major issues, and that location does sing.

The home also has a couple of bonuses, as we noted in our "Weekend Opens" review back in March:

A smallish basement space that's adequate for a small media room plus wine cellar – nicely faux-painted to look a bit like a room in a castle. Also, a sunny kids' play space/office at the very front of the house, down a couple sets of stairs, is a great hideaway.
Watch out, Palm – there's a neighboring home, even bigger, getting ready for market. The price isn't fixed yet, but it will be competitive. This week's move at 1801 could prove timely, if it renews interest and draws a buyer before the neighbor pops.
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