Rare is the high-end property around here that sells for the initial asking price (at least before the recent boom for move-in-ready Montecito). The question is: how far does the number have to drop before someone bites? Here are the week’s top reductions adjustments….
The listing for 851 Buena Vista Drive (↓$1.4M to $13.5M) pushes the pandemic-retreat angle hard, calling it “a safe haven” and “the best space to shelter in place.” It’s certainly one of the biggest: the main house is 13,850 square feet, with seven bedrooms and 10 full baths, and the property has enough amenities to rival a world-class inn (65-foot-long pool, sport court, five-hole putting green, fitness room, craft room, 10-seat theater…). Where better to teach your daughter about the value of luxury accessories?
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No one bit when the stylish spec renovation at 684 Ladera Lane (↑$500K to $4.395M) came on the market in April 2019 at $4.395 million, or later, when the price was subsequently cut twice, first to $4.15 and then to $3.895. Sensing opportunity, the owner has brought it back at the original price with a new broker and a semi-staging.
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I still think someone with great taste and a lot of bougainvillea could turn 1218 Harbor Hills Drive (↓$200K to $3.795M) into a real showpiece.
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The 8,620-square-foot beast at 380 Woodley Road (↓$75K to $6.42M) in Pepper Hill has great views but limited outdoor space, likely a deterrent for families looking to move here so they don’t have to spend so much time inside. P.S. That’s a heck of a front door.
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Five-thousand-dollar price cuts aren’t worth getting out of bed for, but I do love a tiki bar, and I’m a bit fascinated by 5330 Plunkett Lane (↓$5K to $2.04M), a 1937 Spanish house lording over a bunch of new tract homes.
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