Start Big, Cut Big

By Dave Fratello | July 21st, 2017

As Summer rolls along, everyone on the market has to consider cutting prices.

Those that begin with the highest prices tend to make the biggest cuts. Some quick examples:

3420 The Strand Manhattan Beach CA3420 The Strand (5br/6ba, 5500 sqft.) is a gorgeous custom corner-lot Strand house.

Yes yes yes. That's an artwork by the sea.

Described as "A Once-In-A-Generation opportunity to obtain the rare combination of elegant newer construction on a coveted corner lot... the finest craftsmanship and detail in this elegant and timeless California Coastal property."

But there are only ever going to be so many takers at this price point.

Launched at $17.995M, it's now down to $16.500M.

Cut: $1.495M.

1912 The Strand Manhattan Beach CA1912 The Strand (4br/5ba, 3500 sqft.) is, by terms of the property description, "all about the land."

A lot sale.

The listing calls that location "as solid gold as that sunset out front every night."

The start in February was $13.995M.

They're now in the 6th month of marketing, and down to $11.990M.

Cuts to date: $2.005M.

2400 The Strand Manhattan Beach CA2400 The Strand (4br/4ba, 4000 sqft.) is a 1936 build, with updates that we'd place around the 1980s.

It was probably a lot sale. It emerged in November last year at $15.900M.

After cuts this Spring down to $12.999M, they made a deal.

After making a deal, the agents withdrew the listing from the Internet. (Booooo!)

The sale hasn't posted yet.

Cuts before deal: $2.901M.

121 16th Street Manhattan Beach CA121 16th (4br/5ba, 4200 sqft.) is a modern that was redone completed in '06.

Its views may be the greatest asset.

Due to the quirks of the homes to the west and the lot configurations, it would appear that the westward (and south) views can't ever be taken. Yummy.

Start in Feb. '16 was $9.650M

Currently: $8.200M.

Cuts to date: $1.450M.

108 The Strand Manhattan Beach CA108 The Strand (5br/8ba, 6900 sqft.) is a recently completed modern with levels and a car lift. 

They've filmed for one of those reality TV shows (the filming was anything but "reality," however) and you might see it on the flat screen some day soon.

They might or might not tell you on TV that this one began in Aug. 2016 at $19.985M, switched agents and raised the price $10K, then just this past week, pulled a bogus re-list and dropped to $18.950M.

Cut from last price: $1.045M.

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