Along with the rule that fewer listings come out over the holidays comes a corollary: The properties that remain on the market probably mean to sell.
For this reason, the holiday season can be a heck of shopping season for real estate. Fewer buyers, more motivated sellers. What a rare alignment. Especially here…
Along with the rule that fewer listings come out over the holidays comes a corollary: The properties that remain on the market probably mean to sell.
For this reason, the holiday season can be a heck of shopping season for real estate. Fewer buyers, more motivated sellers. What a rare alignment. Especially here in 2013.
You start to see this shift in the market with public price cuts. A new chop Tuesday morning at 3603 Manhattan Ave. (3br/4ba, 1900 sq. ft.) seems to examplify the change.
This is a mid-90s Spanish style TH fairly near Rosecrans offering what are described as "Fully Executive Ocean Views."
In our prior reviews here at MBC, we've said there were "shooting for something special here, pricewise, at $2.499M."
As a look at the comps suggested, that was ambitious. 3312 Manhattan Ave. is comparable in size and location but recently sold for less ($2.299M, off market). We have invited MBC readers to browse this list of THs sold in the last 6 months to make your own judgment.
Well, now the sellers have made a judgment: Time to price it more like 3312 Manhattan Ave. They've cut $200K (-8%) to $2.299M.
This cut is a simple acknowledgment that December is not March.
If you mean to sell now, you can't shoot high and just wait to see what happens. 3603 Manhattan has been vacant since it hit the market in October. Were they going to run 3, 4, 5 months before making a necessary cut?
True, any buyer can approach any seller and offer less than asking price. You see what happens then.
But there's a message behind big, necessary adjustments like at 3603 Manhattan: Hey, look over here – we actually mean to sell. Come bring it. Please.
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 November 29th, 2023 at 10:45pm PST. 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.
