Price cuts in Pacific Palisades

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Catching up: Westside Bubble has an interesting price about significant price cuts in Pacific Palisades. The houses are in that tricky sub-$2 million price range.

The 3-bedroom, 2-bath pictured has been languishing on the market since January, when it was listed at $1.699 million. It’s now listed for $1.199, a price cut of 29%.

The other two price cuts mentioned aren’t as deep: !3% and 8%.

Our take: We’ve seen weakness for a while in this price range (too rich for first-time buyers, not rich enough for the suitcases-of-cash crowd), but we can’t remember anything close to a 29% price cut on the Westside.

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Photo Credit: Westside Bubble