As homeowners (and their Realtors) in the Greater Los Angeles area can attest, selling a house is as much about timing and pricing as it is about location. Case in point being
The Academy Award-winning actress had lofty expectations in April, when she listed the Honnold & Rex-designed home for sale at $6.75 million. Since then, however, the 1954 Research House has seen two price adjustments; the latest of which, recorded in the Multiple Listing Service on May 31st, has dropped the ask to $5.25 million.
The home, overlooking Sunset Plaza on more than a third of an acre, was updated by celebrity interior designer Xorin Balbes, who added a range of designer touches while reconfiguring the two-story floor plan. The 3,700-square-feet of living space, designed for both indoor and outdoor living, boasts Italian marble flooring, rough-hewn stone features, skylights, walls of glass and a handsome staircase framed in walnut.
A gourmet kitchen, a living room with a large stone fireplace, and a smartphone-controlled media and security system are among its features. Outdoors, a patio with fire pit, pool and spa sits among tall palms.
Streep, 64, has been nominated for a record 18
Property records show that the Research House last sold for $4.5 million in February 2013. Ian L. Brooks of Berkshire Hathaway HomeServices California is the listing agent.