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Long Overdue Price Reduction For Kelton Home

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This home at 1545 Kelton Ave. LA CA 90024 finally had a long overdue price reduction this week down to $1,250,000. The home has been for sale since 6/8/07, originally starting at $1,400,000. There are several reasons why this home has not sold yet but I just want to point out the two most glaring ones. First, the original list price for this house was way too high for this particular neighborhood. There were no sufficient comparables to justify a starting point this high. Second, I don’t believe the house has had a fair chance at being exposed. Basically the home is for-sale-by-owner and looks to be represented by a flat fee, pay to get on MLS type representation. I have not seen a public open house nor broker’s caravan for this property since it was listed almost a year ago. Up until recently on the MLS, there was only 1 picture, which was an overhead satellite picture of the home location. Say what you will on the style, condition, type of remodeling, etc about the house, without corrective measures on my first two points the house has a low probability of selling.