If there's truth in advertising, then one ad in this weekend's Beach Reporter
entitles you to $1m off a Hill Section home.
The ad, for 407 Larsson,
prominently features a gigantic markdown from $3.150m
(in red, to boot).
Hey, that's a whopping $1.2m
chop. Take notice!
But no, that'd be a typo. (Sue the free weekly!)
You can't get this 6br/6ba, 5000 sq. ft. home for $2m. The actual price is closer to $3m – $2.949m
. (Click to enlarge the ad.)
The listing is nearly 300 days old, with fairly little movement. The current version of the listing began in late April at $2.999m, with a cut to $2.949m in early May. Hardly worth the special treatment.
Well, there's this... With that cut, the sellers – for the first time – conceded they'd be losing money on the transaction. They paid $2.980m
for the home new in Nov. 2005.
But the current price is still a wish for limiting the losses, and wishing right now is not a great strategy.
We'll grant that this is a real nice house, but it's on Larsson in a glutted Hill Section market where the low $3m range could get you ocean views, even new construction. Larsson is a street you settle for. Today, you sell on these streets with impressive pricing. See, for instance: 1825 Oak
(mentioned in "Trees en Fuego?
If the sellers succeed in unloading 407 Larsson, we'll bet this blooper of an ad actually had it half right.