There are lots of ways to make price cuts.
You can do 'em slowly, over the long term, reluctantly.
Or you can make your move quickly, when it's clear that you started too high.
Maybe you know MBC's preference. We like to see sellers move toward the realistic end of the spectrum as soon as possible. Who enjoys having…
There are lots of ways to make price cuts.
You can do 'em slowly, over the long term, reluctantly.
Or you can make your move quickly, when it's clear that you started too high.
Maybe you know MBC's preference. We like to see sellers move toward the realistic end of the spectrum as soon as possible. Who enjoys having a listing run 6 months or more?
And this is the time, by the way, to make your moves, with the calendar squeezing the buyer pool. (See "Selling You Home? Then Act Like It.")
Today's example is 748 11th (5br/5ba, 5700 sq. ft.), an early-90s Hill Section manse with some updates on a quiet block west of Pacific.
The home began at $4.495m less than 2 weeks ago, and has now cut $500k (-11%) to $3.995m.
Seems like they weren't so attached to that inflated start price, after all.
We noted in our review for the first public opens:
It's practically 2 houses, with 4 [out of 5] bedrooms and a living room downstairs – one bedroom has a kitchenette and extra space, making it living quarters for a long-term guest or the help.
Upstairs is the master with 2 walk-ins, a great office with treetop views, a big and modern kitchen plus living/dining spaces. One separate living room has a little peek at the ocean...
[T]hroughout the home are details that many buyers will want to update.
A reader who also toured the home had this to say:
"Honey I forgot to remodel half the House". 1992 Dated downstairs, 2010'ish current upstairs.
The reader had it right – a striking feature of the house is that the upstairs feels now, and the downstairs... not so much. What will you do with all the extra space? First, remodel it.
So we've got a tough case here, and the smart thing is to start showing movement before the listing vanishes into obscurity.
If the attitude holds, the listing's a contender for a sale this year.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 30th, 2023 at 10:02am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
