If you're browsing the Beach Reporter looking for your new home, you might come across this ad for 2709 Oak, new construction in the Trees. It fairly blares two claims:
"NEW LISTING"
and
"PRICED RIGHT"
Neither of which appears to be true.
2709 Oak was first listed on August 15, 2006, 314 days ago.
Perhaps some of those…
If you're browsing the
Beach Reporter looking for your new home, you might come across this ad for
2709 Oak, new construction in the Trees. It fairly blares two claims:
"NEW LISTING"
and
"PRICED RIGHT"
Neither of which appears to be true.
2709 Oak was first listed on August 15, 2006,
314 days ago.
Perhaps some of those days on market were pre-completion, but the home has been ready for a long while.
Is it "priced right?"The first list price, which lasted nine months, was $2.395m. This month, it dropped a token $16k to $2.379. Before this week's
deja vu debut, the price dropped again to $2.349m. That's a total reduction of just $49k.
Ten months on market, with little movement and no sale, offers evidence that the home is
not "priced right." Saying it doesn't make it so.
Of course, this is advertising, and readers will take all claims with a grain of salt.
If you look up the property using most MLS searches, however, that "new listing" claim
might seem legit. The "current" listing date (MLS #
S949367) is June 20, 2007. DOM: 5.
If your realtor looks it up, let's hope he or she doesn't miss that "CDOM" field (combined days on market):
it reveals 246 DOM as the actual age of the listing. (Much of that was accumulated with the MLS #S932160.)
That's still low by 70 days from our records, but it
gives the lie to that headline, doesn't it?The latest move does make 2709 Oak nearly the lowest-priced new construction in the Tree Section. (Only a smaller new one at
2309 Pacific is seeking less.) But the problem isn't just where you stack up against the rest, but how much you're asking for someone to live on Oak. And you might get off on a better foot by being forthright with the folks whose money you seek.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 18th, 2024 at 6:15pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.