In these go-go times in the Manhattan Beach real estate market, it's no big surprise to see sellers overreach.
After all, it sometimes seems that list prices are merely the starting point for the inevitable bidding war. (See our post, "Always Over Asking?")
But there are also cases like at 1622 Gates (5bd/7ba, 5,500 sq. ft.), where sellers quickly realize that there isn't a buyer at the initial price, and make adjustments.
Gates stands out as a particularly nice, custom house. And it once did sell for $3.100M (in 2007).
This year's list price was $3.175M, but they swiftly changed that to $2.999M just 2 weeks into the listing (-$176K/-5%).
So if they began a bit ahead of the market, they saw it and made the needed changes before the listing got "old."……