price cuts

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What's that? Your start price shot the moon?

Don't worry. Buyers can fix it for you.

That's what happened with two sales that closed this week, somewhat defying the market-wide trend of ever-higher shockingly high sale prices.

The sellers knew what they had in 2009 Palm (5br/5ba, 4050 sq. ft.): An oversized, remodeled house on a prime street. They asked for $3.150M starting last Fall.

Now, there are homes in the Trees hitting the 3's nowadays, and the extra square footage was a part of the argument for that kind of a number at 2009 Palm.

But still, it's an early-90s custom home that gets the extra square footage by shortchanging the backyard. (Pre-ZORP, this was common.) The remodeling was very specific to one family's taste, edging toward modern. (In…

Unusual listings sometimes linger. Up in the North End of the Sand Section, there's one: 445 35th St.

The listing recently took a $1M cut, and you can now get the 5br/5ba, 3575 sq. ft. home for $2.775M – instead of Thursday morning's price of $3.775M.

Has the price been 25% too high since the listing launched in November last year?

Hard to say, because this isn't your typical price chop. They've also removed 25% of what they were offering to sell.

Taken out of the equation now is a half-lot 2br/1ba home in that is essentially surrounded by the main home.

So the 2-for-1 special is over. If you want the back home only, it'll set you back $1M.

As to the main home, it's certainly "unique," as the listings says. It has the feel of an older, classic home…

Yes, it's possible to overprice in a sellers' market. And it's possible to recover from that as well.

We're looking first at 319 S. Poinsettia (6br/6ba, 4830 sq. ft.), right down at the boundary with Hermosa Beach, which has just made a necessary 10% adjustment to the ambitious $4M start price that we first noted in "How Perspective Changes," late last month.

At four weeks in, it would appear they've had no action on this nice Cape Cod, and they diagnosed the reason. So, off came $400K from the asking price.

It's now at $3.599M, and touted as the "best value" in the Hill Section in the revised listing description.

This home surprised us in 2011 by selling at a notable markup over its 2004 (new) sale price. (See "A Big Markup Over '04.") The 2011 sale

Along with the rule that fewer listings come out over the holidays comes a corollary: The properties that remain on the market probably mean to sell.

For this reason, the holiday season can be a heck of shopping season for real estate. Fewer buyers, more motivated sellers. What a rare alignment. Especially here in 2013.

You start to see this shift in the market with public price cuts. A new chop Tuesday morning at 3603 Manhattan Ave. (3br/4ba, 1900 sq. ft.) seems to examplify the change.

This is a mid-90s Spanish style TH fairly near Rosecrans offering what are described as "Fully Executive Ocean Views."

In our prior reviews here at MBC, we've said there were "shooting for something special here, pricewise, at $2.499M."

As a look at the comps suggested,…