Now it's clear that everything's murky over at
517 1st.
The owners launched and finished a custom rebuild in 2008/09. It was no spec project.
But then in October 2009, suddenly it was for sale. The sellers tried at
$1.899m, a price somewhat below a new-construction price and recognizing, we gather, the location…
Now it's clear that everything's murky over at
517 1st.
The owners launched and finished a custom rebuild in 2008/09. It was no spec project.
But then in October 2009, suddenly it was for sale. The sellers tried at
$1.899m, a price somewhat below a new-construction price and recognizing, we gather, the location liability of 1st St.
That start didn't seem so far out of line, but the listing had no traction for a few months.
Just a few days ago, on Feb. 5, the sellers appeared to be moving boldly to find the market, shifting down suddenly to
$1.599m. (See "
Rebuilt, Repriced at 1st.") MBC's take:
An essentially new, moderately sized (4br/2ba, 2550 sq. ft.) home in the South End, with a kid-friendly bonus of being right near Robinson School's athletic fields, for $1.6m?
In context, that looks like a serious deal.
That "serious deal" lasted only a couple of days, then the price
rose $100k. (See "
Re-Repriced on 1st.")
And now, can you believe it?
It's up again.
This time by $76k more, up to
$1.775m.
This means the bulk of the original $300k chop is ancient history. The listing's down $124k from start, and no longer down the other $176k.
This is not the normal mark-to-market scenario.
We don't yet have an insight into the sellers' actual thinking, just the outside evidence that they're unsure what to do. And proof positive that this listing isn't going to proceed in any kind of straight line.
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 26th, 2023 at 6:00am 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.
