Not so long ago, if you wanted
2708 Pacific, you'd need to pay $1.849m. But not now.
Actually, someone once agreed to pay something close to that for the 5br/4ba, 3400 sq. ft., early-90s home with its graceful updates.
As you may recall from "Spring's Intriguing Signs," back around 3 months ago, Pacific had a quick…
Not so long ago, if you wanted
2708 Pacific, you'd need to pay $1.849m. But not now.
Actually, someone once agreed to pay something close to that for the 5br/4ba, 3400 sq. ft., early-90s home with its graceful updates.
As you may recall from "
Spring's Intriguing Signs," back around 3 months ago, Pacific had a quick deal, which MBC cited as Exhibit A for a series of "quick sales on new listings that don't even seem particularly well-priced."
The deal didn't stick, though, and Pacific hung around quite a while longer. It was last seen 2 weeks ago at $1.699m, when it quit. (See "
Luck Runs Out.")
How quickly fortunes reverse.
Now 2708 Pacific is teed up to be the sensation of the week.
Re-listed at
$1.399m, Pacific has a new come-hither price.
The sellers' orders are pretty clear: No more hanging around, nickel-and-diming, verbal offers, maybes, what-ifs, or etceteras.
Get 'er done.Every buyer hanging around near the $1.5m price point is being dragged off the fence.
You want 3400 sq. ft., updated, under $1.5m? Try East MB.
Whoops! West of Sepulveda?!?
The folks who closed last week on closely comparable
3517 Oak (5br/4ba, 3300 sq. ft.) for
$1.485m probably thought they were getting a healthy location discount. They're on an isolated block of Oak near Rosecrans and looking out at the hotel.
To now see a superior home and location up for almost $100k less a week later would be, at best, unnerving.
Look at
3213 Walnut a moment. That's 3br/2ba, 1850 sq. ft. The remodel's nice enough, the location pretty sweet, but it's lingering a bit at $1.399m.
For the
same price, Pacific gives you 1500 sq. ft. more worth of living space and a more luxe home overall.
The comparisons are endless, but they all wind up at the same place: 2708 Pacific isn't really a $1.399m house. It'll settle higher than that if the new price works its magic, drawing in multiple offers and finding the market.
Still, if they close at a $1.4-ish price, watch out. That'd be just about the most unwelcome comp of 2010, in a year when sellers are starting to feel kind of good.
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 21st, 2023 at 10:15pm 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.
