September 28, 2007
Palo Alto: Builder Raises Price of “Wine Cave” House
Back in July, I posted a picture of an upcoming spec house at 144 Seale Ave (Palo Alto: Casa Nueva with “Wine Cave”), which originally was going to be listed for $5,195,000 by Linq Properties.
This week this house finally went on the market for $6,485,000, a whooping $1,290,000 more than the original price, and $3,487,000 more than the similar new spec house on the block (120 Seale), which has been listed on Redfin for 106 days.
One can only speculate about the logic of this pricing strategy, given that the market in Palo Alto began softening this month. (And it has a one-car garage.)
144 Seale will be open on Saturday and Sunday this weekend, and now I’ve really got to see that $3.4M wine cave in person.
