Rare is the high-end property around here that sells for the initial asking price. The question is: how far does the number have to drop before someone bites? Here are the week’s top 10 reductions….
After a broker switch and a break, 999 Hot Springs Road (↓$135K to $4.25M), across the creek from the Hot Springs trail, is back with a new price. The 1977 house—once owned by Kenny Loggins, or so a former broker once told me—has some neat details that make it feel older. It started out at $4.4 million in August 2018; the current owner paid $3.81 million.
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HollyOaks, as the nearly 10,000-square-foot estate at 2697 Sycamore Canyon Road (↓$2M to $10.9M) is called, was built in 1928 and redone in 1997. It’s on a three-acre lot, with most of the yardage behind the house and away from the road. The new price is a long way down from last July’s original $14.5 million ask.
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715 Ladera Lane (↓$750K to $7.9M) is a lot of house—7,500 square feet, with two three-car garages, a detached two-bedroom guest apartment, an art studio, a gym, and even a hen house. It started out at $9.65 million last October….
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Seven bedrooms—and a tiki bar—for $2 million? 5330 Plunkett Lane (↓$100K to $2.045M), built in 1937, presumably feels a bit out of place amid the newer houses in, uh, does the area west of In-N-Out have a name?
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A thorough paint job would tone down some, but not all, of the camp at 3911 Via Laguna (↓$245K to $3.95M), so prospective buyers should start stocking up on caftans and turbans. Also, is the 7.59-acre lot a big enough buffer from Modoc Road and the 101?
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2020 Creekside Road (↓$100K to $4.295M), a.k.a. the house with a master bath that looks like a very fancy egg cooker. It came on the market in October of 2014 at $4.975 million.
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A developer spec renovation, 255 Bonnie Lane (↓$455K to $3.995M) has striking contemporary elements and a broad backyard, but it doesn’t exactly fit in on the street. The developer bought it for $2.495 million in late 2015 and put it on the market for $5.295 million in early 2019. If I were interested, I’d trying lowballing it.
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First listed at $3.79 million in October 2019, the Moorish-ish 581 Las Alturas Road (↓$45K to $3.25M) on the Riviera has been slowly dropping ever since. If you don’t mind some of the funky level changes, this is another ripe lowball opportunity.
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610 E. Pedregosa Street (↓$50K to $1.749M), where the Upper East meets the Lower Riviera, could use a more cosmopolitan aesthetic, the better to show off the 1926 house’s bones.
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If you can get past the asshole transporter helicopter in the first listing photo and the outer-Denver interiors, 4500 Via Rancheros Road (↓$1M to $9.9M) in Santa Ynez is an 8,000-square-foot “contemporary farmhouse” with a distinctive roofline and 103 acres, and it’s just 49 minutes to downtown. The property was first listed in January 2018 for $12.9 million.
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