December 26, 2007

A Fat Price Reduction in ‘The Dell’

As you might expect, there’s not a whole lot of activity happening as far as listings right now.  But this update came across this morning.  Apparently, this five-bedroom, four-bath house in the Hollywood Dell area (in L. A., south of Hollywood Reservoir) has fallen out of escrow after 237 days on the market, and its exasperated owners have chosen to slash its price – from $2,495,000 to $1,999,000.

This is a huge house on a fairly big lot (nearly 10K square feet).  It kinda looks like a big tract home — I’m sure it was a teardown.  But a 20 percent cut in price is certainly worth noting.  We’ll have to see whether this does the trick.

Prices in the neighborhood vary wildly:  For sale on the same street are this three-bedroom “pre-foreclosure” for $777,777 (cute; lucky for someone, but not the seller); and this seven-bedroom, 10-bath for $6,695,000.