Usually homes that languish on the market take a hint and drop their price. Every once a while, though, we see a home that deals with a lack of buyer interest by doubling down and actually raising its price. When it listed back in June, 2800 Lake Street—a stately four-bedroom full of period details like beamed ceilings and wood paneling galore—was looking for $3.499 million, which amounted to a $491K gain over the property's 2013 sale price of $3.08 million. Few changes were in evidence to justify the markup, and so in September a big $305K price chop brought the ask a bit closer to Earth. Still, no one bit.
Lo and behold, the home just returned to market looking for $3.398 million, gaining back most of the ground lost in September's price chop. The home still looks largely as it did before, though the sellers have done some repainting and decluttered some of the furnishings. Also, is it our imagination, or are the new photos a bit more stretched than the prior set, thanks perhaps to the photographer's choice of an even wider lens?
· Once Noe's Priciest Home, 625 Duncan Takes a $1M Price Cut [Curbed SF]
· 2800 Lake Street [Redfin]
· Flip Fail: Sea Cliff Home Sans Upgrades Takes $305K Price Chop [Curbed SF]