Rare is the high-end property around here that sells for the initial asking price (at least before the recent boom for move-in-ready Montecito). The question is: how far does the number have to drop before someone bites? Here are the week’s top reductions adjustments….
395 Asegra Road (↑$988K to $9.988M) has a fluctuating sense of self-worth: the photogenic five-acre compound above Summerland first came online in March 2019 for $11.5 million, only to be removed a month later. This past May, it showed up again, this time for a hair under $9 million; the listing was pulled after three months. Now it’s back for a million dollars more than last time….
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In the same general area is the 11-acre 209 Greenwell Avenue (↓$200K to $6.195M), but it’s a teardown.
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Every time 3102 Sea Cliff (↓$215K to $7.995M) chips away at its price—this is the fifth reduction in 12 months—I revisit the photos to see if there isn’t some way to make the property work. In an effort to be nicer, let’s just leave it at that.
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Don’t judge 260 Penny Lane (↓$200K to $5.55M) by its upscale suburban exterior—the interiors are stylish and comfortable. P.S. Do the people who live on Penny Lane in Ennisbrook love the Beatles song or hate it?
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A 1930 Spanish-style house that has been thoroughly updated, 18 W. Quinto Street (↓$100K to $2.395M) makes a convincing case for living downtown. It sits atop a small hill, so you look out over almost all the neighbors.
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