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Not Moving: Green Oak Drive in the Oaks

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Not Moving looks at a property that is lingering on the MLS and tries to find an explanation for why it hasn't sold. Suggestions, tips? Email us.

Address: 5524 Green Oak Drive, Los Feliz
First listed on MLS: Feb 2008, $2,987,000
Price: $2,925,000
Chops: One (price dropped, then went up)
Broker's explanation: "This is a high-end luxury good, and in this market, it's harder to move a property like this. Depending on what happens to the economy, I think it could take another three months to sell." Any offers? "Yes, but the worry on the part of the [would-be buyer] was whether they'd be able to sell their own house in this market to pay for this one." --Holly Purcell, Prudential