Friday, June 23, 2006

2102 Swehtam: Poster child for North Redondo?

If there is any property that is struggling to get sold it's this one. It's unfortunate, because it's located in a tree-lined area of North Redondo, toward the west side (near Manhattan Beach), as opposed to the more questionable east side (Lawndale). Over 2000 square feet, built in 2001, 3 bedrooms, 2+ baths, with a large deck for entertaining.

The first I knew of this property was during Christmas vacation last year (before New Year's), when it was listed for $995,000. It was obviously listed at a price by a realtor who assumed the boom momentum would keep going. It has been relisted at $889,000, then $869,000, and it is now listed at $849,000. That's a 14.6% markdown, which is getting more substantial, as markdowns go. Days on market 180 and counting.

It can be frustrating then downright painful when reality suddenly sets in.


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