Rare is the high-end property around here that sells for the initial asking price. The question is: how far does the price have to drop before someone bites? Here are the week’s top price cuts….
A charming house in good condition on a quiet street, 3511 Sea Ledge Lane (↓$1M to $8.75M) has a lot going for it. The initial ask of $10.5 seemed high, even for oceanfront, but now it might be more in the appropriate range, depending on what the inspections turn up.
The 1962 house at 1000 E. Mountain Drive (↓$300K to $2.95M), up near the Cold Spring trailhead, needs a thorough redo—but let’s hope that the groovy porte cochere survives. The house tends to be open every weekend; the owners are brokers, so you will be given a complete tour.
Can you paint adobe white? That’s the first question I have every time I look at the photos of 2960 Torito Road (↓$100K to $2.65M) in Toro Canyon—because the windows tend to be in the bedrooms, not the communal areas. (Still, with the right decorating….) The second question: whether the property will still be red zone once the revised Debris Flow Risk Map is revealed on December 5. / Open Sunday, 1-3 p.m.
The New England–style 256 Santa Rosa Lane (↓$180K to $4.4M) would seem to appeal mainly to families: It backs up against Laguna Blanca school, the guest rooms are all in a row, with shared baths, and it has that big lawn for playtime.
If you want to the roll the dice on the fire risk—and you don’t mind self-insuring—there’s an unfinished house (with ADU) at 3040 Gibraltar Road (↓$446K to $2.05M). According to the broker, “The cost to complete the houses is about $650,000. Seller has a $2.8M lender’s Appraisal for the finished project.The Seller (local builder) has submitted changes to the existing county permits, and could finish the project, depending on Buyer’s choice of amenities, finishes & landscaping.”