The Moral: Try, Try Again

By Dave Fratello | May 12th, 2015

You know the old motto: When at first you don't succeed, try, try again.

That certainly can work for selling.

And if you're not impatient, these days, merely waiting seems to be a formula not just for success – but for netting a greater profit.

1335 19th Street Manhattan Beach CAOur case study here is 1335 19th (6br/6ba, 5000 sqft.).

The home's been on and off the MLS so many times in the past few years, you could hardly remember when it was a "new" listing, or off-market as a "pocket," or on-market, or in escrow, or whatever.

But now they've closed up a sale there, at the princely sum of $3.050M.

The on-again, off-again story that preceded the sale went like this:

  • July-Aug. 2013: asking $2.799M, 34 DOM, quit
  • June 2014: asking $3.099M, 14 DOM, quit
  • Sept.-Nov. 2014: asking $2.949M, 27 DOM, got an offer, lost it, quit
  • March 2015: asking $3.099M, got an offer, lost it, went back to market, got another offer... and closed it

You can see why they say real estate isn't for the faint of heart.

You're on, you're off.

You're in, you're out.

You've got an offer, you don't.

Nothing's done until it closes.

In this case, for all the possible stress and ambiguity, there was a plus. They got $250K (9%) more than the first asking price from 2013.

Which is a decent payout for any pain and suffering from the time in between.

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