This week, a couple of sales closed (good news!) with sale prices that will surprise to the downside.
Down at the much-discussed flat South End walkstreets (see "Quiet Walkstreets"), the one listing to make a deal since May was 500 7th (pictured).
It was listed as a 4br/4ba, 3100 sq. ft. home, though one of the…
This week, a couple of sales closed
(good news!) with sale prices that will
surprise to the downside.
Down at the much-discussed flat South End walkstreets (see "
Quiet Walkstreets"), the one listing to make a deal since May was
500 7th (pictured).
It was listed as a 4br/4ba, 3100 sq. ft. home, though one of the "bedrooms" was fishy – currently a living space off the kitchen and dining room, not easy to see as a BR.
The listing began at
$3.195m on June 3. Almost instantly, there was a deal – verbal, not formal.
And why not? The 7th St. walkstreet is
one of MBC's "Great Streets."Alas, that deal did not happen. After a couple months, someone else came along.
And you might say they got a steal: the sale closed for
$2.650m this week. That's a substantial chop of
-$545k/-17%. Here's an interesting case of a start price that did not seem, on its face, to be over the line. (Hence the immediate, though failed, deal.) But the sellers moved big, and moved quickly (at only 2+ months, 73 DOM) when a new party came along in order to make a deal possible.
A different situation is presented by
621 Marine.
This was a one-year-and-out situation, and everyone expects sellers to take a hit for a short-term hold. (Job transfer, we first heard.)
The home is spacious (5br/4ba, 3100 sq. ft.) and extremely attractive, done mostly in a Spanish style with delightful living spaces, lots of light, a custom feel, a decent yard, and
much, much more quiet than you might expect from an address on Marine.
In March 2007, the buyers paid
$2.436m.This week, they sold it for
$2.150m.That's a rather sudden decline in value of
$286k, or a drop of
12% over 18 months.
It would appear that the sellers who are making deals these days are not holding out at all. They're taking seriously the offers of buyers who come in well below list. Whatever it takes.
Please see our blog disclaimer.
Listings presented above are supplied via the MLS and are brokered by a variety of agents and firms, not Dave Fratello or Edge Real Estate Agency, unless so stated with the listing. Images and links to properties above lead to a full MLS display of information, including home details, lot size, all photos, and listing broker and agent information and contact information.
Based on information from California Regional Multiple Listing Service, Inc. as of March 29th, 2023 at 10:30pm PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.
