The story is one we keep writing over and over: Houses that couldn't sell before, have sold recently.
Does it always happen, though?
How about one of the most difficult listings from 2012? How will it fare now that it's back?
And how about its new price increase? Will that stand up?
We're talking here…
The story is one we keep writing over and over: Houses that couldn't sell before, have sold recently.
Does it always happen, though?
How about one of the most difficult listings from 2012? How will it fare now that it's back?
And how about its new price increase? Will that stand up?
We're talking here about 1701 Gates Ave. in East MB.
The listing fairly dares this market to prove that everything really is different in 2013. Approaching one year since it debuted, the listing has now increased in price by 13%.
In May 2012, 1701 Gates (4br/3ba, 3390 sq. ft.) launched at $1.598M.
No action through Summer. It went on "hold" in August.
In October, 1701 Gates returned $100K lighter at $1.498M.
The listing ran another 5 months like that, with no takers. It went on "hold" again in March.
Tuesday, Gates came back, guns a-blazin'.
The price is up $200K to $1.698M.
Oddly, the listing still begins with the words: "PALATIAL! PRICE REDUCED!!"
But no, it's up 13%. They might fix that language later.
This home has lingered based on location (far east, and along busy Redondo Ave. – check it out in Streetview) and due to the fact that it's a 1981 original which, while well preserved, seems blank and wants a lot of updating.
The very formal furnishings in the dated home make it hard to evaluate. (For some reason the pics aren't showing now on MBC, so try browsing them on Redfin.) The yard is also a bit cluttered (whoops, the description calls it "lush") and not, seemingly, well integrated with the living spaces.
It's easy for people to say "no" to a house with question marks, but this year, the mere availability of a house seems to be all you need.
So, market: 1701 Gates has issued a challenge. How do you respond?
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 19th, 2024 at 1:40am 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.