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PriceChopper: Pacific Palisades Condo Going Down, Down, Down

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This two-bedroom, three-bath condo on Sunset Blvd in the Pacific Palisades went on the market in July 2008 and has had not one, not two, but five pricechops (and at least one re-listing) since it was first listed. The listing notes the unit is now a "verbally approved short sale! Jump right into escrow!" The condo was remodeled two years ago, features a double-height living room, travertine floors, two fireplaces and a roof deck. It was last sold in August 2006 for $727,500 and then went on the market two years later for $839,000. After the multiple pricechops, the new asking price is $633,000 or $455 per square foot for the 871 square foot apartment. Good luck with that one. A real estate agent who specializes in downtown tell us condo short sales are an utter migraine because of the length of time it takes to close the deal.
· 16040 W Sunset Blvd #305 Pacific Palisades, CA 90272 [Redfin]