Are the days of real estate windfalls over? Probably not, but now those egregiously overpriced shacks are only somewhat overpriced. With the “cooling” of the real estate market, we begin a new feature here on Curbed LA: Biggest Price Losers. We’ll be finding those overpriced homes that have endured the greatest price “corrections.” This week we feature L.A. homes priced over $1 million. Of the homes we looked at, the following three had the greatest price slashes.
3700 Mandeville Canyon Road
Original List Price: $2.395 million
Sale Price: $1.6 million
Percent Reduction: 33%
WIth a price slash of $795,000, these sellers may have set their sights a bit to high for this 4 bedroom ranch. Welcome to reality.
2240 24th St.
Original List Price: $2.138 million
Sale Price: $1.688 million
Percent Reduction: 21%
Well, you have to admire the ambition of these sellers for trying to cash in on a house that is probably a starter in most other markets. Looks like they missed that boat.
922 Masselin Ave.
Original List Price: $1.595 million
Sale Price: $1.295 million
Percent Reduction: 19%
This looks like a fire sale to us. After 130 days on the market, the sellers may be having a bit of nostalgia for Real Estate Market '04.
All listings from Zip Realty.