Here's a nice dual success story.
A very odd contemporary home at 534 14th hit the market in late February at $3.350m.
There wasn't much interest at that level, despite the Martyrs location, proximity to downtown and ocean views. (The home has mostly been listed on the MLS as a Sand Section prop, but it's the Tree…
Here's a nice dual success story.
A very odd contemporary home at
534 14th hit the market in late February at
$3.350m.
There wasn't much interest at that level, despite the Martyrs location, proximity to downtown and ocean views. (The home has mostly been listed on the MLS as a Sand Section prop, but it's the Tree Section.)
Gradually the price came down to
$2.999m (-$351k/-10%). And there it lingered a bit.
Last month, someone snapped it up. When the sale closed Monday this week, we saw that they had bid almost 10% lower. The buyers picked it up for
$2.7m, another $300k off the discounted list price.
The final sale price is
down $650k/-19% from that optimistic start.
Here's what's intriguing – this case shows that
you can grab a listing for about 10% off its price, even a discounted price, if only you show some interest.
There are plenty of wallflower listings out there these days on which the sellers may welcome a 10%-off "lowball." They just don't want to shift their list prices now for fear of what 10% off of
some new price might net them.
The caveat on this one is that the 14th St. home was unique – a little bit too much so.
In April MBC said of it:
[534 14th is] a large contemporary (ca. 1990) with 4br/4ba and 4100 sq. ft. It's really two buildings. Guests & kids get the front tower with its 3br and small hangout rooms. Grownups get the entertainment spaces and a master through which the back yard pool is accessed.
That's right, one bedroom is in the main/entertainment wing, just off the pool, while the rest of the BRs, all small, are up front in a separate building, connected by a hallway. Not everyone's idea of a family home.
Still, the sellers made a deal. For a home with 4br/4ba and 4100 sq. ft., and a strange vibe, they got a respectable
$659/PSF and, let's not forget:
$2.7m. Maybe they shot too high to begin, but they were ready to get real when they had paper to sign.
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 23rd, 2023 at 1:47pm 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.
