Just Hangin'?

By Dave Fratello | June 9th, 2015

It seems there are some sellers in this real estate market who can really only be called "sellers" if they get a big number.

There's been no lack of exposure for the Hill Section corner-lot home for sale at 1007 Pacific, for instance.

The listing for this 5br/5ba home on a nearly 9400 sqft. corner view lot dates back to last October.

Hey hey! A sprawling Hill Section lot with views, and close to downtown Manhattan Beach, to boot. Come and get it, right?

The start at $6.600M was high, though, and the current $6.200M list seems not to be resonating with the market, either.

Is anyone stressed out about it?

It would appear not, even at 220+ DOM.

Either the market will come to them, or the sellers will just enjoy the home.

Down in the Sand Section, with 100 fewer days on market, 501 Manhattan Ave. has persisted. Like the Pacific listing in the Hills, the bulk of the value is in the land – but they're looking for a big number for the dirt.

It's currently at $5.999M, after a brief, prior listing even higher at $7.000M.

Maybe its day will come. In the meantime, the little income property on site will just keep doing its job.

There's some reason for hope here, as you now have 2 pending sales up 4th St. near Highland: 229 4th (lot sale, pending, list of $5.000M) and 235 4th (on Highland, lot sale, pending, list of $3.999M).

Both of those could help the argument for a number in the territory of 501 Manhattan's list price, but it's all in the eye of the beholder/buyer.

There's a lot of new construction racking up DOM as well, but that's more typical prior to completion.

One last one that stood out for us as just kind of waiting for a big, fat number is a flat family walkstreet home at 340 7th (5br/5ba, 3850 sqft.).

You have to love that mid-block location on one of the kiddiest, kid-friendly family streets in the whole South End.

The house is challenging, to be clear about it. It's got lots of space, but bears the hallmarks of multiple remodels and additions and does not really hang together cohesively. Livable for sure, but unusual.

They launched at $4.599M more than 3 months ago, and have cut a bit to $4.500M. It's obviously aspirational for now.

What's the worst that could happen if they don't sell soon? They spend the Summer on the walkstreet?

Oh, the torture of just hanging around on the market in Manhattan Beach.

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