Even in a hot real-estate market, prices need to get reduced sometimes. Then again, sometimes they go up.
···················
If Donatella Versace decides to forsake Milan for Bel Air Knolls: 1485 La Cima Road (↓$100K to $1.895M).
···················
Sorry, 3102 Sea Cliff (↓$300K to $7.695M), but I just don’t see this happening in the 7s.
···················
Professional photos make a better case for 3555.5 Padaro Lane (↓$150K to $9.75M) than the agent’s shots that first accompanied the listing. Still, the house is barely over 2,000 square feet….
···················
Taking a break from reductions for a moment, let’s look at two properties that have increased in price. First, 475 Woodley Road (↑$310K to $5.695M) in Pepper Hill looks move-in-ready, with nice style (assuming the bathrooms are less yellow than they appear in the photos). The price has been all over the place since the initial 2015 listing, starting at $5.875 million and bottoming out in December 2017 at $5.385 million.
···················
1100 Palomino Road (↑$120K to $2.395M), meanwhile, was $2.275 million at the end of 2018. Now it’s $120,000 more—and already gone pending.
···················
Back to reductions: the 21.62-acre 450 Lambert Road (↓$1.8M to $9.95M), west of Toro Canyon, definitely had the week’s largest cut. New renderings show how one could attempt to contemporize the house.
···················
1757 Glen Oaks Road (↓$100K to $4.67M) has been on the market for 505 days now. Maybe this price cut will do the trick. P.S. The listing says the backyard has been updated since that photo was taken. And I love the vignette above—there’s nothing like an afternoon watching golf while you drink a glass of wine by yourself and ponder Mona Lisa.
···················
The white-brick facade of 1180 Fife Lane (↓$195K to $6M) gives me all sorts of WASPy tingles—my jaw is locked and my arm is cocked, ready to receive a jumbo gin and tonic on a needlepoint coaster.
···················
A cute enough house—it just needs some updating—with a kid-friendly backyard, 214 Middle Road (↓$200K to $3.275M) would seem ripe for a family looking to get into Montecito Union School.
················
Love real estate? Sign up for the Siteline email newsletter.
Comment: