Just yesterday MBC noted that Tree Section builder/sellers seem reluctant to cut their prices
in reaction to a slowdown in that segment.
The sellers of a new Sand Section home have finally gotten over the same sort of hesitation and made a real move.
A nice view home at 2816 Manhattan Ave.
went up for sale on Labor Day last year.
The listing started near $3m (well, 2.899) and there it remained for almost 8 months.
Why would it linger so? The listing calls the home "fantastic," "magnificent" and "wonderful."
It's located on "one of the most prestigious blocks in manhattan beach sand," the listing says (and MBC tends to agree). "[T]his home will amaze your most discerning buyer."
The home is nice, but apparently the price was not. In eight months on market, you had to see some lowballs come in – $2.3m to $2.5m might be expected – but the sellers wouldn't go there.
Finally they began to move. Within the last 2 weeks, $100k was chopped off the top.
Today, on its 245th day on the market, 2816 Manhattan has dropped another $200k
to $2.599m. That's 10%+ off the original price.
Finally, the sellers are communicating that they know they got the price wrong, they're willing to move, and you should come talk to them.
It's almost enough to make you forgive the bogus re-listing they did to hide the pricing history.