You Can Get Good News in August

By Dave Fratello | August 21st, 2018

August... the doldrums. One of the worst times of year to have a home on the market.

Right?

For rules, there are exceptions.

1701 N Meadows Avenue Manhattan Beach CALook to 1701 N. Meadows (5br/5ba, 4000 sqft.), which got stuck on the market after debuting too high at $3.199M in April.

This 2005 corner-lot Mediterranean took 6 cuts of nearly $700K, and it took 4+ months, but now they finally have a deal.

In August!

Or look at 204 Anderson (3br/3ba, 1800 sqft.), one of the first deals made in August.

It's a Hill Section "tall and skinny" with excellent updates/expansion, a little ocean view, air conditioning, etc.

Yes it took 10 weeks and price cuts totaling $150K, but it was at $2.350M on Aug. 1 when they made a deal.

124 38th Place Manhattan Beach CAIn the Sand Section, both an El Porto new construction home at 124 38th Place (3br/4ba, 1920 sqft.) and an older home on an epic walkstreet corner lot at 2601 Alma (5br/5ba, 3650 sqft.) made deals this month after 10 weeks each on market.

The El Porto home had listed at $3.099M and made a fairly quick deal in late May. (That drew our notice in "El Porto Record Coming?")

But luck wasn't with them, the property fell out of escrow, they had to cut the price to $2.795M and wait for a new buyer. The papers were signed Aug. 3.

After an unlucky June, it was a lucky August.

2601 Alma began sky-high at $4.000M, but gradually adjusted to $3.495M.

At that point, multiple offers eventually came in. It was time. In August!

750 35th Street Manhattan Beach CAMeantime, a freshly listed property at 750 35th (5br/5ba, 3700 sqft.) has just gone into escrow.

Unlike the other listings referenced above that "turned it all around" after several weeks on market, this one went within a week... this time.

The 2014 beachy-modern home got major designer treatment shortly after it was purchased, but soon came back to market in the first of a few unsuccessful attempts to re-sell.

Instead of reselling, the home became a rental for a period of time. (At $15K/mo. for one period and $13K/mo. for another.) 

Listed this August for $3.500M, it has a deal within a week.

So, if you're told that August is a poor month to sell, understand, that's often correct. The best advice is to avoid the month if you can.

But clearly, you can be fortunate any time of year.

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