The Manhattan Beach price diet: Reduced by $800,000

A quickie from Manhattan Beach Confidential about the pressures on builders of high-end custom spec homes: 560 36th St., pictured at left, has been reduced in price by $800,000 since March, from $2.99 million to $2.19 million.

MB Confidential actually likes the house: "It's big – 4br/4ba and 3800 sq. ft., a good 500+ sq. ft. larger than the typical Tree Section newbie. And though it's sharply modern in style, we've always liked the warmth of some of the materials and the overall flow of the house.... Though the builder thought $3m to start was reasonable, just 2 months later, the price was already down $500k/-17% and the listing was screaming "please submit all reasonable offers!" (Listing price history taken from Redfin.)"

-- Peter Viles

Your thoughts? Comments?

Photo: Manhattan Beach Confidential

Comments

[Zia]

Is this the home used in Shear Genius?

[Laker]

I thought High end areas have nothing to do with the subprime /housing crisis....
According to shock, these areas will never drop in price.

[TrojanDLA]

This is not a very good "modern" design and is already dated/cliched/tired in its approach. The builder should have browsed the pages of Dwell before creating this forgettable piece of bleh.

[Nick]

You should be publicly mocked for using the term "reasonable offers" without defining what you, the seller, consider reasonable. In today's market, what's reasonable for the seller can be insane for the buyer, and visa-versa.