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Tuesday, March 25, 2008

Mill Valley Shocker: Owners Ask Less For House Than They Paid For It

Real estate brokers here in our twee Northern California town have been circling like buzzards around this downtown house for weeks, waiting for the listing to go live. The big question on their minds was whether the owners, who paid $2,750,000 for the 4bdrm, 2 bath house less than two years ago, would try to push the price envelope upward by asking more than $3 million.

The answer? Apparently not. The house came on the market today with an asking price of $2,700,000. Although some brokers we talked to speculated the house was priced to encourage multiple offers, others weren't so sure. Despite its vintage charm, the house has some quirks—such as its flagpole lot—which kept it from selling quickly in 2006.