A Challenge from Gates Ave.

By Dave Fratello | April 16th, 2013

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.

Latest Listings Among
Manhattan Beach Homes For Sale