OUCH! A Few Recent Sales Discounted over 40% from the Original List Price

Two homes in the Palisades, one home in Malibu and another in Santa Monica take some big hits in comparison to the original list price. The seller’s left a lot of money on the table by not pricing correctly right away…it is tough to catch a falling knife. ..

554 Almar, Pacific Palisades (Left) – This 6 bed/5.5 bath, nearly 5,900 sq. ft. home built in 2008 was originally listed for $5.395M almost two years and ago and just sold for only $3.175M…a 41% difference between list price and final sales price. The home is very nice with a finished basement, home theater, wine cellar and parking for three cars.

17832 Tramonto, Pacific Palisades – This 4 bed/3.5 bath , 4,273 sq. ft. home featuring ocean views from every room originally listed for 3.825M in March of this year before finally selling on September 27th for only $2.250M. The house was updated but did have floor plan issues and appealed to a very limited number of buyers.

23816 Malibu Road, Malibu Beach (Right) – This 6 bed/5.5 bath on 17K of beachfront land was recently completely remodeled and features a 3 bedroom guest house, pool and ocean front master suite. It was originally listed for $23.5M and finally sold for $15.3M after being on the market for over 400 days!

560 Latimer Road, Santa Monica Canyon – This 3 bed/3 bath, 2,607 sq. ft. home on a 17K sq. ft. lot across from Rustic Canyon park provides a good floor plan but definitely is in need of remodeling. It was on the market for 118 days and debut with a list of price of 2.795M before finally selling for 1.975M, a 28% drop from the original list price.

On the flip side…

3701 Grand View, Mar Vista (Right) – This 4 bed/4 bath, 3,263 sq. ft. home situated on a very large lot (15K)for the area, sold in multiple offers and 7% over the asking price. It was listed at $1.468M and sold for $1.575M. The house has a wonderful vintage feel and is in solid condition. You can’t go wrong with the Mar Vista hill location.

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