No Offers Below List Considered–Oh Really? Asking Price for a South Coast Metro Home Takes a Roller Coaster Ride
See if you can figure out the logic of the roller coaster pricing for a recently sold Costa Mesa home:
In October 2008. the asking price for the home at 920 Crocus Circle rose from $750,000 to $830,000. Later the same month, the price fell to an asking price of $800,000. Then, for about six months, the price did a roller coaster ride with repeated increases to $830,000 then fall backs to $800,000.
Next a series of falls: In May 2009, the price fell to $750,000; in August 2009, the price fell to $739,000; in September 2009, the asking price fell again to $700,000. After taking this roller coaster ride for over a year, this home in Costa Mesa’s South Coast Metro area sold for $700,000 in December 2009.
Considering the long ride this home took to reach a sale and the repeated price drops, here is an ironic quote from the online listing: “NO OFFERS BELOW LIST CONSIDERED.”
920 Crocus Circle, South Coast Metro, Costa Mesa 92626
- Selling price; $700,000 ($289/SF)
- What: 1973 detached house
- Size: 5 bedrooms and three baths with 2420 SF
- HOA fee: none
This home was listed under MLS P653661 and P685670.