As houses stay on the market longer, nervous owners have begun dropping their prices.
For four long months, there has been a “For Sale” sign in front of David and Jody Saltzman’s Malibu home. Located in Sea View Estates, on a cul-de-sac in a kid-friendly neighborhood with excellent public schools, the 3,100-square-foot Mediterranean has four bedrooms, three bathrooms, a bonus room and a remodeled kitchen with granite countertops. There’s no ocean view, but the owners believe garden enthusiasts will love the lush landscaping and tropical plants on the half-acre lot.
“I was hoping it would sell in 60 days,” David Saltzman said. When it didn’t, the couple lowered the price by $100,000 in April. They took another $100,000 off in May. With the house eventually listed at $1,495,000 — making it the least-expensive listing in the development for a house of its size — they finally entered escrow a week ago.