Here are the week’s top price adjustments….
When I visited 696 Romero Canyon Road (↑$1.085M to $2.995M) last October, I thought it photographed great (still does!), but that tearing it down and starting over would probably be easier than attempting a thorough renovation. Someone has either done the necessary work or believes the market has changed everything: the house is back online for $1 million more.
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The 1900 George Washington Smith Tudor at 1321 School House Road (↓$504K to $4.995M) started out at just under $6 million in March. It has great old-house bones, but I can’t shake the fear that it needs work.
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A $50K price-chop two weeks ago must not have rustled up any interest, so 1051 Arbolado Road (↓$125K to $3.775M) is back with a more substantial reduction. The house is in fabulous shape, and the lovely decorating certainly helps. But it’s pretty small for the high threes and/or that part of the Riviera.
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1379 Oak Creek Canyon Road (↓$900K to $9.95M) has joined the parade of Mediterranean Montecito mansions dropping from eight figures to seven. That includes its neighbor directly above, on the market for the same price—and both are flanked by construction projects, which might be anathema to buyers in this range.
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I can see how to turn 1708 Paterna Road (↓$545K to $2.95M) into a glamorous Riviera villa. Unfortunately, I can also see the bill.
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That did the trick: a few days after a $50K reduction, 309 San Roque Road (↓$50K to $1.249M) went pending.
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A 6,875-square-foot house on a double lot in Birnam Wood, 1185 Fife Lane (↓$900K to $5M) suffers from dated interiors. The wide covered veranda is a beaut, though.
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Part of a 1930s house downtown, 310 E. Canon Perdido Street (↓$50K to $2.25M) has charm to burn. The price has come down a fair bit from its high of $2.6 million, but the question remains how much anyone is willing to pay for half a duplex.
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