There are currently 129 blog entries related to this category.
Thursday, May 9th, 2013 at 11:47am. 176 Views, 0 Comments.
To say that 217 9th St. has been offered for sale for a long time might miss the point.
It came to market in February 2012, hoping to strike while last Spring's market was just starting to heat up.
But at $3M, this little 3br/3ba, 1700-odd sq. ft. modern on a half lot did not look like a deal. It began at $1,701/PSF, much higher than you'd find on The Strand.
The listing limped through Summer last year and only made a big, bold cut when a new agent took over in October.
That cut dropped the asking to $2.500M. Still steep.
Another 6 months passed, but now the little modern city house has closed for $2.250M. Officially, 309 DOM tolled for the property from Feb. 2012 through April this year.
Sure, that sale was 24% off the start price, but…
Tuesday, April 23rd, 2013 at 10:11am. 308 Views, 0 Comments.
Having trouble selling? Hanging around too long, accumulating DOM?
Eventually you might have to cut your price.
When we reported here daily on the buyers' market of 2008-2011, price cuts were the norm.
Very nice, mainstream properties price in reach of most MB buyers (let's say under $2M) would linger and linger, trying to find their market, along the way generating a trail of pricing attempts that would help tell a story.
Today, "mainstream" properties under $2M enter an overheated market and tend not to last.
Higher-end properties, though, sometimes do hang around. Put in one question mark or more, and the property may be passed over a while.
Here are some of the big-dollar homes in MB that have recently made cuts:
448 1st (4br/4ba,…
Monday, March 4th, 2013 at 1:10pm. 365 Views, 0 Comments.
It's easy to talk about the overheated market conditions around Manhattan Beach these days.
To see only the fast deals and bidding wars, you'd think that buyers are neither choosy nor price-sensitive anymore.
And then you get a case like 3308 Pacific, which provides some kind of reminder that a more sober reality does still intrude – from time to time.
This is a home we have called "a quirky 80s contemporary in a subpar location."
That's 8 words that may tell you all you need to know as to whether the property might have been interesting to you, or not.
Memorably, the listing for this property in 1996 called it "Manhattan's most exciting modern home." The 2012 listing also went for the excitement factor, touting it as an "architectural…
Thursday, February 28th, 2013 at 10:06am. 285 Views, 0 Comments.
When is a "huge price reduction" not all that impressive?
When the start price was preposterous.
Still, they're right to claim that 421 32nd Place has, in fact, made a new "huge price reduction." (We've dropped out the all-caps you see in the listing, because we don't mean to scream at you.)
Yes, it's "huge" to drop from $1.3M to $1M ($995K) in just over a month.
It's a 23% cut.
These sellers must be crazy with how they're discounting the place, eh?
But no, really, they're just approaching market value. They must have noticed the lack of offers in an otherwise hot market.
How do you value a little old cottage like this on a half lot on an alley?
This one is officially 2br/1ba, 725 sq. ft., and, frankly, cramped and old. It lacks a…
Tuesday, February 26th, 2013 at 7:10am. 459 Views, 0 Comments.
Hey, look. We’ve built something new!
And the change is good, with the new look, feel and function here at MB Confidential.
Building on our tradition of regularly producing insightful analysis of local real estate, we’ve now added the best hyper-local search and data you can find.
You can now search quickly, with one click, by region or subsection of Manhattan Beach.
Say you’re only looking in the Sand Section...
One click on our Sand Section search gives you the active listings in that area only. (Use the "MB Search" dropdown menu.)
You’re wondering how much Tree Section homes have been selling for recently?
One click delivers the past 6 months’ worth of sales in the Trees, listing the newest first. (Use the "MB Sales Data" dropdown…
Wednesday, February 13th, 2013 at 10:08am. 312 Views, 0 Comments.
It seems to be no big surprise that a few of last week's new listings made quick deals. But we've also seen some longtime listings finally get some ink on the bottom line as well.
We'll look at a few – wait, excuse, I need a drink of water... OK – we'll look at a few examples of each here below.
1829 Laurel (4br/3ba, 3250 sq. ft.) is a 1981 build on a corner lot home in a much-desired part of the Trees near American Martyrs.
This one was memorably described as "aching for a more thorough remodel." We were not able to tour in the narrow window that it was offered to agents to see it, but there was a queue of at least 20 potential buyers clamoring to get in.
The start at $1.970M reflects size and location. Refreshed, it might be valued at…
Thursday, January 17th, 2013 at 1:14am. 275 Views, 0 Comments.
What we do see here and there now is the return of 2012 listings that didn't catch on. They always meant to sell, but took the holidays off.
Here's a recap of the newest returnees:
810 1st (5br/5ba, 4850 sq. ft.) is an 80s original on a big, flat, 9425 sq. ft. lot with some very nice ocean views – surprising, perhaps, for a house that's so close to Ardmore.
The issue here is that absolutely everything needs a 21st-century update. That takes vision and will take some cash. At the end, we see potential for a terrific house, but you've got to buy it at the right…
Tuesday, January 15th, 2013 at 8:06pm. 311 Views, 0 Comments.
Add a huge lot – nearly a triple lot at over 14,000 square feet.
Add in some ocean views from high up the hill.
What's that worth?
|"Summerhill" at 250 S. Dianthus|
With 243 DOM under the bridge, Tuesday saw another big price cut at 250 Dianthus, as the sellers attempt to find their market.
The launch on the MLS was at $11.9M in early June 2012, but $2M came off the top quickly, before that month's end.
The listing shed another $1M in September before chopping a fourth $1M this week.…
Friday, November 16th, 2012 at 5:55am. 202 Views, 0 Comments.
One case in point is a Hill Section listing into its 6th month now.
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…
Friday, October 12th, 2012 at 2:52am. 199 Views, 0 Comments.
Oh, yeah, hey, it's Fall.
And if you mean to sell this year, the clock is really ticking. Find your buyer.
Gotta sell within calendar year 2012 to avoid extra capital gains taxes? Tick tick tick! You have to open escrow before Thanksgiving, 6 weeks from now.
Every seller's got a different situation, of course, but we won't be surprised to see a further burst of price-cutting urgency here as Halloween nears the horizon.
Here are some of the most recent sellers to make cuts, hoping to draw an offer soon.