Not Settling InPosted on Wednesday, October 27th, 2010 at 4:01am.
A few newer price chops hint at real motivation by some sellers. But will they be enough to close 2010 with a title transfer?
3116 Manhattan Ave. (3br/3ba, 3300 sq. ft.) has cut 24% from its overly ambitious start at $3.1m, returning recently at $2.350m after a flopped deal.
As MBC said in our first reference, the home:
offers big ocean views, yet tends toward the wacky, with a remodel of a 1940s home that's got odd angles, decor and that rarest of MB finds: an indoor tree.The garage-door mural is yet another bonus.
513 17th (3br/3ba, 1700 sq. ft.) earned mention as a "special, inspired remodel on one of the great blocks in the Martyrs area" in our first reference 3 weeks ago, but boy, did the catcalls follow. "Lipstick on a pig" was the harshest judgment.
To our view, the home has a high-style "beach cottage" look, with good family living spaces and a surprisingly ample back yard. (Thanks to a 5200 sq. ft. lot.) But we can see that not everyone views it as a $2m property. 513 17th started at $1.999m and has just cut to $1.925m.
410 31st (3br/2ba, 1600 sq. ft.) is a late-60s original with updates on a corner with Vista up on the plateau.
31st was purchased for $1.450m in Dec. 2005, started at $1.195m in early October and is already down to $1.099m (-$351k/-24%).
A quirky asset is the roofdeck, a very spacious (800 sq. ft., they say) bonus outdoor space, which grabs a sliver of an ocean view. The layout is awkward, with the effective master downstairs in a space that evidently was once a separate, second unit.
420 1st (2br/2ba, 1000 sq. ft.) continues its downward trajectory with a new cut to $975k. And we'd be surprised if that's the end.
The little 2-building cottage, next to a school parking lot, was acquired for $1.075m in June 2007 and freshened up a lot. Efforts to secure a markup failed, understandably, and now the question is how far down the next buyer will drive it.
As some measure of renewed seriousness, the sellers just posted a sign in front for the first time in a while.
1605 Pine, a weathered and broken – and vacant – older cottage that, we once said, "fairly begs, 'take me down to the studs and start over.'"
It's under $900k now at $879k, still down just $80k from its start, but starting to show some real movement as we near 90 DOM.
Nice location, but the description of this home as a "white picket fence charmer" has just 3 accurate words.
1305 Church (4br/4ba, 3100 sq. ft.) just pulled a bogus re-list after a bigger name (?) in the same office took a lead role on the listing.
Regardless, the property has run 10 weeks without a buyer and maybe needed some kind of boost. The cut to $1.979m from $2.2m is actually a month old.
As MBC said in "Messages Behind the Cuts," back then, the sellers seemed to be saying:
We still think this is a beauty, a premium property, but hey, we overshot to begin. We get it.We still love the home, having gone on record labeling it "a brilliantly authentic-feeling, newer Spanish that's full of inspired, unique details," but the lack of a yard is going to be a drag.
They fix things like that with price.
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