Back in early February of 2007, Your Mama came across a 5 bedroom and 5 bathroom house up in the hills of Hollywood on N. Crescent Heights Boulevard that carried an asking price of $3,600,000. We had a devil of a time sorting out ownership and by the time we managed to figure out that the house was owned by ex supermodel and Rod Stewart ex wifey Rachel Hunter, it was late May and the asking price had been karate chopped to $2,995,000.
The property lingered on the market for quite some time with the lower price and then, POOF!, it vanished, apparently unable to attract a ready, willing and able buyer. The 4,078 square foot sort of Tudor style house (which is now be marketed as an “English country farmhouse” evaporated from our mind until just the other day when, KABLAM! the property popped back up on the MLS with a new asking price of $3,250,000.
All due respect to Miz Hunter and her pee-pol, but what’s the thinking process behind re-listing the property with an increased asking price after it languished on the market for a good long while at a lower price? Are we missing something?