Rare is the high-end property around here that sells for the initial asking price. The question is: how far does the number have to drop before someone bites? Here are the week’s top reductions….
Built in 1981 as one of Ennisbrook’s four original houses, 1930 Jelinda Drive (↓$245K to $6.75M) has more character than you might expect from a house on a golf course. The current owner bought it for $3.15 million in August of 2016, which may be giving prospective buyers pause—hence the quarter-million reduction just a month after hitting the market.
First put on the market in January 2019 for $8.5 million, 857 Picacho Lane (↓$799K to $6.2M) dropped its price twice before removing the listing. After a brief hiatus, it’s back at $6.2 million. The design has quirks but the property feels well made, and the fireplace porch is dreamy. Bear in mind that the house directly behind it, 859 Picacho, recently sold at auction and could get torn down. / Open Sunday, 1-3 p.m.
108 Loma Media Road (↓$225K to $3.05M) has been listed as high as $4.4 million, and if you value a view, you might be willing to overlook the 1980s choices—so many stairs, weird-shaped windows, a pink toilet…. / Open Sunday, 1-4 p.m.
Another week, another Tudor slashes its price: HollyOaks, as 2697 Sycamore Canyon Road (↓$750K to $12.9M) in Montecito is called, was built in 1928 and redone in 1997. It’s on a prime three-acre lot, with most of the yardage behind the house and away from the road. This is the second big reduction in three months, so perhaps someone is getting itchy.
I shouldn’t really include 165 Middle Road (↓$5K to $6.78M) because a $5,000 reduction isn’t worth getting out of bed for. But I love the 1929 house and I want someone to buy it, fix it up, and have us all over.