BLOG: 'Pretty Woman' Producer's House Selling for $11.8 Million

June is often a tricky month for real estate sales in our area. As proof, there was only one sale in the 90402 flats in the past seven days at 208 Adelaide Dr., which was listed April 6 at $11.85 million.

It is a common misconception that summer is a real estate agent’s busiest time of the year. Most homeowners are unaware that early spring is when the market heats up and that by the time kids are graduating and vacations have begun, the number of sales usually drops way off.  If this pattern is indeed repeated this year (and it seems it will), the next bump up in sales might not be until September, when many schools are back in session and family vacations have ended.

There are many theories as to why this is but most common are the most obvious: buyers and sellers have less time and more distractions in the summer months.

Here is your real estate news:

ACTIVE/AVAILABLE LISTINGS

305 10th St.: 5bd + 3ba., $2.45 million, new listing.  This house has been talked about for several weeks and finally hit the market today (see photo to the right). It’s a very well-priced, fixer upper (or scraper) and its nearly 11,000 square feet will cause it to sell despite the seasonal slowing of summer. It's a historic home and the city's landmarks commission will no-doubt have the final word on its development.

NEW SALES (IN ESCROW)

208 Adelaide Dr. : 4bd + 5.5ba., $11.85 million, very Hollywood-esque décor and situated behind gated gardens and mature trees on the most coveted block of Adelaide. Was owned by Laura Ziskin, a producer best known for Pretty Woman. Ocean and mountain views.

SOLD/CLOSED

733 19th St.: 3bd + 2.5ba., $2.49 million, we finally closed at $2.46 million.  Tastefully updated, dramatic 1920’s Spanish style with huge bonus room off the garage.

514 9th St.: 5bd + 4.5ba.  $3.5 million, last sold in 2002 for $1.75 million.  Mostly nice upgrades but still a bit 1980’s in places. Good value based on the square footage.