It Only Took 5 Years to Sell This House

By Dave Fratello | March 27th, 2015

We half-joked yesterday that when a home sits for 30 days in this market, it almost seems like a "crisis."

Where's my bidding war? Where are the all-cash offers?

Well here's a case of a home that took 5 full years to sell.

906 9th Street Manhattan Beach CA906 9th (6br/7ba, 5425 sq. ft.) is a Hill Section spec home that first came out in April 2010 asking $4.695M.

Along the way, asking prices dipped as low as $3.895M.

It's been rented out for much of its time since completion.

Around this time last year, 906 9th came to market asking $4.895M. It hung around for 9 months.

Finally, this week, it sold. The new closed price: $4.300M, somewhere in between the up-and-down asking prices of the last few years.

But now, through some combination of persistence, timing and luck, it's done.

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Disclosure: Dave represented a buyer who wrote an offer for 906 9th last year, when the list price was $4.895M. At the time, the seller was not open to the buyer's verbal counter of $4.300M, though that's exactly the number they eventually took.

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