In June, MBC featured a South End walkstreet home that had hit the MLS after being listed first for some time on Zillow with a "Make Me Move " price of $3.75m.
Once 332 6th hit the MLS, the asking price took a 10% step down to reality, to $3.375m.
332 6th was sold within a month (hey, it's a lovely walkstreet home,…
In June,
MBC featured a South End walkstreet home that had hit the MLS after being listed first for some time on Zillow with a "Make Me Move " price of $3.75m.
Once
332 6th hit the MLS, the asking price took a
10% step down to reality, to $3.375m.
332 6th was sold within a month
(hey, it's a lovely walkstreet home, of course it went fast!). It closed the other day for
$3.141m. That's $234k off the MLS list price, and down
16.2% from that first dream price on Zillow.
Everyone's happy. One family has a nice $3m walkstreet home, and another walks with a nice $1.3m profit.
Uh-oh. Someone is
not happy. The sellers of another $3m walkstreet home have canceled their listing. Perhaps they finally saw the writing on the wall. Perhaps the 6th St. sale ended their delusions.
There was always something strange and half-hearted about the 7-month effort to sell
404 10th. Almost like the sellers were using an agent and the MLS as they might have used Zillow's "Make Me Move." They set a high price and waited to see what might happen.
The owners bought this high-style Lazar build (5br/3ba, 2900 sq. ft. –
1200 sq. ft. smaller than the 6th St. house) in April 2006 for
$2.5m. Not yet a year later, in Feb. 2007, they put it up for sale at $3.2m, and quickly raised it to
$3.3m, the price it had for most of the Spring and Summer.
Sure, people pay $3m for lovely walkstreet homes. But not every one is a bargain at that price, particularly when buyers know that you paid 33% less last year.
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 30th, 2023 at 10:47am 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.
