Back in mid-November, I blogged about four new listings, wondering why anyone would choose to list during one of the worst selling times of the year. At the time, I said they would have to be priced extremely well to stand out enough to sell. Let’s see how they fared.
Listing #1: 8455 Fountain Ave., #730, Los Angeles
Original listing price: $1,049,000
2BR/3B; “amazing penthouse” 1/2 block from Sunset Strip
Status: This home is “back on the market” — meaning it might have fallen out of escrow — and reduced to $999,000. However, its status is listed as “looking for backup offers,” so maybe the price reduction a month ago did the trick. Other units in the same building have been selling, including this penthouse unit that went for $890,000.
Listing #2: 1223 N. Hayworth Ave., #1/2, West Hollywood
Original listing price: $759,000
2BR/1B; “seriously hip” unit in restored fourplex
Status: The unit has been reduced in price twice, to its current $649,000. The Nearby Similar Listings show that all four units in this “restored fourplex” are still waiting for buyers.
Listing #3: 1853 Taft Ave., Los Angeles
Original listing price: $1,395,000
4BR/2B; “wonderful 1911 Craftsman…meticulously restored”
Status: This homeowner has taken a machete to the listing price. After four aggressive slashes, it’s down to $999,000. This certainly sounds like a more reasonable price, although there are few comps in the area, which includes many multifamily dwellings.
Listing #4: 1815 Manning Ave., #301, Los Angeles
Original listing price: $729,000
2BR/3B; “front corner unit with fabulous views of Century City”
Status: Sold! on Feb. 12, for $695,000. According to the Property Shark record, the buyer was from Ohio.