[quote=sdrealtor][quote=jpinpb]Here is another listing that took a hit. 3345 Lucinda Sold in August 2006 for $1,365,000. They actually started out thinking they could sell it for more w/a price range $1,375,000 to $1,575,000.
Beds/Baths: 3 / 4
Est Square Feet: 2,630 sf
Lot Size: 7,500 Sq. Ft.
It just sold for 900k. It is in coveted La Playa, not in the flight path w/some pretty nice views, juding from the photos. Maybe this was just another exception. But this high end just priced itself down in sdr’s “sweet spot.”[/quote]
Hardly. my sweet spot is homes listred between 600 and 900k. This was a short sale listed at 1.13M where the listing agent slipped in their own buyer over $200K below the asking price rather than systematically lowering the price to find the market.
Its defintely an exc eption not an open market arms length sale.[/quote]
So if it’s listed between 600 to 900k, that’s the sweet spot, but if it sells for 900k, that’s not the sweet spot?
As you know, when I bought my house, I contacted the LA directly. There is nothing wrong w/that, so why are you undermining a sale by saying the LA slipped their own buyer for 200k below asking. It could be a legitimate person who contacted the LA and made a lower offer. Point is that it SOLD and for much less than peak, less than LP and inching it’s way down to the sweet spot range.
At this point if I were shopping for 900k home, I guess I’d start looking at over a million and start low balling and seeing what sticks. Why bother looking at LP houses w/the sweet spot price tag. Over a million seems to be reducing quite a bit down to that price range.
