It is with a strange sense of sadness that we must report that 2812 Elm has, at long last, pulled a bogus re-list.
Granted, this home has been on the market nearly a year. (It first went up on offer on 9/13/06). You could argue that a re-list was in order. Something to freshen it up, give it another chance.
For 350+…
It is with a strange sense of sadness that we must report that
2812 Elm has, at long last, pulled a bogus re-list.
Granted, this home has been on the market nearly a year. (It first went up on offer on 9/13/06). You could argue that a re-list was in order. Something to freshen it up, give it another chance.
For 350+ days, the sellers and agent had resisted the temptation to re-list. (MBC specifically
congratulated them nearer to day 300. With the same agent still repping the listing, we withdraw the praise.)
Actually, for much of that time, the sellers
also resisted the temptation to cut the price (from the start of $1.769m). That attitude started to change this Summer, and it was nipped down to
$1.649m just last week.
The owners paid $1.584m in June 2005. At 5% cost of sale, their current list price guarantees them
a loss of $17k. Obviously the loss gets worse with a lower sale price. That's pretty remarkable for a nice home in a decent, even B+, location.
There are few comparable sales near this square footage over the past few months. Examples:
- 3312 Maple, 3br/2ba, 2250 sq. ft. – got $1.45m in May
- 2804 Pacific, 3br/3ba, 2050 sq. ft. – got $1.42m in August
- 1140 Laurel, 3br/3ba, 2550 sq. ft. – got $1.535m in August
You can see why the sellers think they're not wildly out of line, but a lot has changed.
Lest MBC be accused of singling out one offender, it's worth noting that the following pulled bogus re-lists in the last few days:
- 811 Boundary Pl., 79 DOM, re-listed 9/5/07;
- 4104 Highland, 70 DOM, re-listed 9/5/07;
- 570 27th, 176 DOM, re-listed 9/4/07; and, the capper
- 844 11th, 497 DOM, re-listed 9/4/07
So, sure, everyone is doing it – trying to pull the wool over the eyes of buyers and buyers' agents – but for so long, 2812 Elm wasn't like them. It's a letdown to see them resort to deception, but if they sell, what will be the lesson others will draw?
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 18th, 2024 at 9:48pm 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.