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Price Reduction - 2010 Benecia Ave., LA CA 90025

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This property at 2010 Benecia Ave, LA CA 90025 received a price reduction this week of 1.5% or $20,000, down to $1,275,000. Originally listed on 7/10/08, the home has now been on the market for 43 days now with one price reduction during it's listing term. According to public records the home is a 2 bedroom / 1.5 bath, 1,552 sq ft home on a 5,750 sq ft lot. You can read my previous review post of the home HERE.

In the previous review post, this home sparked a mini conversation about a home selling in 2007 that is now being re-listed in 2008 as being a good barometer of the market. So we should pay close attention to this particular house to see how it does. Now I believe this house on Benecia falls into the category of being a challenged house, which I think is harder to sell in 2008. Because the home is only 2 bedrooms, sits on a smaller lot, close to a busy street, and close to multi-unit residential property makes it more dificult to sell. These are the types of properties that are not doing as well in this current market. There is another home that hit the market yesterday on Keswick Avenue that sold mid 2007. I don't believe any work has been done to the already extensively remodeled home and they are asking $150,000 more than the sales price of 2007 for the home. I will be doing a post later this weekend of all homes that have sold in 2008 that have also sold in 2007 or 2006 in Westwood to give us an idea of how recent resales are doing.

Karl J. said...
August 22, 2008 at 11:43 AM  

I look forward to seeing the home sales this year and their prior sale prices.

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