It's Rosy on Palm

By Dave Fratello | December 15th, 2007
Two weeks ago, MBC noted that a price move by the sellers of 2623 Palm sent a message: We are ready to deal.

Message received. They're now in escrow. Bravo.

As we said in the recent story (see "Modest House, Bold Move"), the sellers appeared to have equity, flexibility and motivation. (The home was vacant.) That's a good combination if you can find a willing buyer.

2623 Palm, a one-story mid-century home that's been polished up in parts, offers 3br/2ba, 1950 sq. ft. on a corner lot. It began at $1.599m, which must have seemed reasonable at the time (it's all relative), but it shot down to $1.399m when it became clear that price wasn't going to work.

The listing sold in 76 days, no small feat this time of year, with all but a couple days being in October-December.

Another modest, much larger Tree Section resale went into escrow last week – 2413 Elm (4br/3ba, 3300 sq. ft.), also down about $200k from initial list.

Here's to happier holidays for at least the 4 families involved in these deals.

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