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….
Oceanfront in Hope Ranch, 4045 Bajada Lane (↓$1.247M to $11.75M) has some very sexy details, including a corner room with killer views (pictured at top), ambitious ceilings here and there, and a swirling staircase. Speaking of descents: the property was first listed in July 2018 for $17.7 million.
On 2.5 acres with ocean views, 956 Mariposa Lane (↓$1M to $10.45M) is now priced to move after being on the market for nearly a year. (It started out at $14.5 million.) The house only has five bedrooms, which is remarkable given the size (8,700 square feet). But as you can see from the floor plan, the master suite is substantial. And note the “secret” office above the gallery above the loggia.
Or spend a little more for 900 Knollwood Drive (↓$1.5M to $16.25M), on nine acres with a house designed by Edwards & Plunkett and renovated by Lutah Maria Riggs. Think of the fun family meetings you can convene in the lower-level conference room! (Make sure there’s something left in the budget to put toward the op art kitchen.) Update 3/11: Listing photos removed at the request of the new owners.
If prices keep going up instead of down, I’m going to have to start calling these posts Price Adjustments instead of Price Cuts. The latest one is 1404 Greenworth Place (↑$855K to $3.45M). First listed in February 2018 for $2.949 million, it was chopped a few times until it was $2.595 million. Yanked from the market when the pandemic hit, it’s now back at $3.45 million—someone having decided that the rising market is lifting this boat, too.
$5.995 million for a three-bedroom Hope Ranch house with ocean views sounds like a decent deal, until you realize someone is trying to unload 4403 Via Abrigada (↓$1M) after starting on interior demolition.