price cuts

Found 166 blog entries about price cuts.

Watching some recent sales come in, you see how some sellers' ambitions got out way ahead of the market.

Notably, some were spec homes that eventually had to sell. But not all.

Here are a few of the bigger recent ask/close spreads. We had an update like this in October, also, which you may want to reference (see "Biggest Recent Ask/Close Spreads.")

1321 21st Street Manhattan Beach CA1321 21st (5br/6ba, 5050 sqft.) is East MB new construction in a... what is that? Mediterranean style?

People are building Mediterraneans?

Actually, this one looks to be a case of counter-programming, if you will. No one else was building Mediterraneans, so they decided to give it a shot here. To take the field for themselves and occupy it alone. After all, there used to be a market for…

Now and then throughout the year, you'll see a listing pop up as "new," and you'll know that it just ain't so.

MBC readers are, by and large, the types who pay attention. So we know you have that reaction.

Now, here on the site, we've added a nifty new feature to MB Confidential that will help you see the truth through bogus re-lists. If your instinct says, "That's not new," you can easily check it out.

As you see in the image above, we now display the "Combined DOM" right under the standard Days on Market figure for every listing. (We highlighted it in blue here to make it stand out; normally it's plain text.)

Even when a seller and agent pull a bogus re-list, you'll be able to see the true Days on Market here. (In a bogus re-list, the…

People want to sell their homes. They know the Manhattan Beach market has been white-hot for as long as anyone can remember. (Well, 3-4 years, but how long can you remember?)

So they try for the most money they can. And then reality intervenes.

Here's more proof that the market in general, and 2016's market, in particular, doesn't look like those go-go days when you could simply name a number and people would be lining up at the door to offer more.

This list of recent sales with notable price cuts simply comes from sales so far in the month of October:

933 9th Street Manhattan Beach CA933 9th (4br/3ba, 3950 sqft.) is a Hill Section home on a big (7500 sqft.) downsloping lot that was built in the 1980s.

There have been updates since, with a glam polished-stone floor,…

Here we were just saying last month that "[a]uctions are fun. Auctions are interesting."

710 Manhattan Beach Boulevard Manhattan Beach CAThere was one coming up for a condo at 710 MB Blvd.(3br/3ba, 1675 sqft.). On Saturday, they were going to auction it off. (See "Auctions Aren't Always Distress Calls.")

But no.

Because the "luxury auction" was much more in the discretion of the seller. By setting what they thought to be a low "come-on" start price of $1.475M, they planned to draw a bunch of offers and sell for more.

Now the whole gambit is postponed.

Instead of sorting through bids on Saturday, they cut the price $100K to $1.375M and extended the time for the "auction" to take place.

Now it will be Oct. 22. Probably.

Are buyers feeling the need to rush?

They're not really doing…

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