When 911 Duncan first hit the market in June 2007, the builder/seller had high hopes. The listing began at $3.770m.
The build was a unique, custom design, memorably touted for some time as a home that supposedly evoked Frank Lloyd Wright's "Fallingwater" – with a grass driveway on Duncan apparently subbing for the…
When 911 Duncan
first hit the market in June 2007, the builder/seller had high hopes. The listing began at $3.770m
The build was a unique, custom design, memorably touted for some time as a home that supposedly evoked Frank Lloyd Wright's "Fallingwater
" – with a grass driveway on Duncan apparently subbing for the forested setting of the Wright home. (We kid.)
By the 6-month mark, 911 Duncan wasn't moving, so the price did – down $470k
to $3.299m. As MBC noted in "Fallingprice
," this was the greatest drop in new-construction pricing in the Hill Section in 2007.
Now, with a closed price coming in at $3.190m
, we can shut the books. The final price was -$580k/-15%
off that optimistic start. That's the new record for cuts on new construction in the Hills.
And yet, to those who thought the home would wind up selling for closer to $3m, or perhaps below, the builder had the last laugh. With land acquisition costs of just $950k, and a home built with 5br/6ba, 3700 sq. ft., we're confident that the builder made some real money. Such a deal for both parties, no?
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 24th, 2023 at 6:31pm 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.