February 12, 2013
An Unofficial Million Dollar Reduction Over On El Camino Del Mar
As we first wrote about the designer home at 738 El Camino Del Mar Avenue last March:
"Purchased for $5,500,000 in early 2008 and then remodeled by Ken Fulk in 2009, the Spanish-Mediterranean Sea Cliff home at 738 El Camino Del Mar Avenue has just returned to the market listed for $6,995,000.
Tax records suggest 738 was built as a 4,308 square foot four-bedroom in 1927, but it appears to have since been remodeled as a three. And while there might not be any bridge views today, we'll be lounging by one of the three fireplaces waiting for it to clear."
Reduced to $6,500,000 after six months on the market, the listing for 738 El Camino Del Mar was withdrawn from the MLS without a reported sale in December. Today, the Sea Cliff home is back on the market "as new" having shed over 300 days on the market in terms of industry stats and now listed for $5,995,000, a sale at which would be "at asking."
And while listed with three bedrooms last year, it's now listed with four.
First Published: February 12, 2013 9:00 AM
Comments from "Plugged In" Readers
I find it odd that the meh Lake Street home goes into contract in 5 minutes at 8 million while this place just sits. Is it really tiny? Is there a terrible erosion problem? Hmmm...
Posted by: Denis at February 12, 2013 10:24 AM
This place is actually pretty spectacular and I too am surprised it is sitting. It has some floorplan challenges that make it hard for a small family but its very nice. Maybe they did some work on the floorplan and relisted it.
Posted by: Eddy at February 12, 2013 10:40 AM
Something about animal pelt patterns on stairs must turn people off...
Posted by: BobN at February 12, 2013 12:14 PM
Perhaps people are distracted/dislike the paint colors. Green walls. Red walls. Lavender walls.
Posted by: jlasf at February 12, 2013 12:20 PM
just heard that this is in contract.
Posted by: momonthego at February 12, 2013 1:17 PM
I see Denis' point re: valuation vs. Lake Street.
At $6mm, 4,308sf this house is $1,390 psf. Lake is closer to $1,250 ($8mm, 6400sf).
Whatever someone paid for it, the "Louis the old-ladieth" decor here appeals to a narrower buyer base than the restoration hardware-esque Lake Street. It's all Fulked up.
Posted by: soccermom at February 12, 2013 8:28 PM
It does amaze me that McMansiony homes with B- level finishes sell quickly, but anything that reflects the individuality of the current owner can be an impediment to a quick sale. The Lake St. sale just puzzles me. It's a house with no real outdoor space, decent, but not great, views, a ton of steps to the front door, located on a blah block.. and the staging is weak. Remind me if I attempt to sell my home to paint everything pale gray and fill it with a bunch of ikea furniture.
Posted by: Denis at February 12, 2013 10:21 PM
The sale of 738 El Camino Del Mar closed escrow today with a reported contract price of $6,000,000.
Yes, it's officially "over asking" and only 76 days on the market according to industry stats despite having first been listed for $6,995,000 a year ago, reduced to $6,500,000 after six months on the market, withdrawn from the MLS this past December, and then listed as new for $5,995,000 in February.
Posted by: SocketSite at April 25, 2013 4:34 PM