Testing the market last year, the sellers at 3200 Pacific put some thought into marketing, but they put none into pricing.
Around Labor Day last year, this home was featured on the cover of the thick, glossy, and yet free Homes & Land ad-zine you can pick up all around the South Bay. Asking price for this 4BR home…
Testing the market last year, the sellers at
3200 Pacific put some thought into marketing, but they put none into pricing.
Around Labor Day last year, this home was featured on the cover of the thick, glossy, and yet free
Homes & Land ad-zine you can pick up all around the South Bay. Asking price for this 4BR home with a 4400 sq. ft.:
$3.9 million.The price wasn't just high,
it was preposterous. Nothing came of that listing, and the signs came down. Now they are trying again,
starting at $3.45m.That's a drop of 11% in asking, but from such lofty heights, it's hard to call this a price cut or
reality check, as MBC might otherwise. Let's see what the competition looks like in the Tree Section over $3m:
Mostly the others are new construction, smaller lots, better locations.
This does not bode well.3200 Pacific was built in 1990. It is an imposing presence, ahead of its time in its styling, mixing a mini-castle feel with a quasi-Mediterranean look. But the inside seems to need a bit of updating, not to mention some color. This one has to feel right to a prospective buyer to justify the price, but it lacks soul.
What's worse, the sellers will be in no mood to bargain.
In their minds, they've just cut a half a million off their expectations. Try to drive them closer to $2.5-$3m and they'll slam the door on you. If, some day, that (overpriced) new home on 27th by Ladera School sells, this will be the most expensive home in the Tree Section, and how will the sellers justify that?
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 July 27th, 2024 at 9:20am 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.