August 2, 2006
Three Blasts From The Not So Distant Past
2. “Lefty” just might be in luck as 1081 Pine Street #401 was reduced another $200,000 this morning (now listed at $2,095,000). That’s a total reduction of $800,000 (27%) from the beginning of the year, and only $170,000 (10%) over what it first sold for in early 2004.
3. There might only be “three homes left!!” at the brand new Glen Park Market Place, but at least two of them have been reduced (#301 down $40,000; #202 down $50,000). Nothing quite like being in contract only to find out that the unit next door was just reduced $50K...
∙ But Isn't The Median Sales Price Up? [SocketSite]
∙ Listing: 2760 Sacramento Street #11 (1/1) - $749,000 [Coldwell Banker]
∙ Comments: 1081 Pine Street Redux [SocketSite]
∙ Not Huge (But Not Bad) [SocketSite]
∙ Listing: 1081 Pine Street #401 (3/3) - $2,095,000 [MLS]
∙ Glen Park Market Place: Range Of Prices And BMR Deadline [SocketSite]
∙ Listing: 53 Wilder #202 (2/2) - $739,000 [MLS]
∙ Listing: 53 Wilder #301 (2/2) - $739,000 [MLS]
First Published: August 2, 2006 9:15 AM
Comments from "Plugged In" Readers
I'm only hearing negatives.
No, no, no, nooooo....
Posted by: Anonymous at August 2, 2006 9:32 AM
STOP POSTING LIES - How can there be price reductions in "The City"? LOL.
Posted by: crispy&cole at August 2, 2006 12:49 PM
But real estate value in SF can only go up, up, up, dammit! Just like One Rincon and The Infinity!!!
Posted by: Sexy & Sassy in SF at August 2, 2006 6:36 PM
Oh, and while we're on the topic, don't let 776 Tehama fall off the reduction radar. Since your last post on it in June 5, as of today there has yet been another reduction on two of the units, and there are supposedly only five units available: three in 776 Tehama and two in the "sister" building 1277 Howard:
1277 Howard as of today:
Unit #3: $699K from $735K in June (largest unit)
Unit #5: $739K
776 Tehama as of today:
Unit #12: $459K
Unit #13: $529K
Unit #17: $735K down from $749K
Oh, yeah, and you even get the oh-so-nifty option to put in your own shower door/curtain, whatever suits your fancy, as they are deliberately left unfinished, AND you get to hire your own California Closet people to put in the master closet, as there are no rods or shelving in.
The selling agent and my own said that this is now a common practice -- that is, to leave these items unfinished. Perhaps I'm just out of the loop, but this is a first for me!
Posted by: Sexy & Sassy in SF at August 2, 2006 7:13 PM
Finally. Starting to see the market cool off and some decent digs available.
I think prices will be heading back to 2004 levels. Why buy that 700k condo right now when it is only worth 550k?
I hope to one day see the situation where people actually need 20% down to get a place. Flush out all of the hot money flippers robbing the workers and savers of a proper middle class.
Posted by: lord_truth at August 2, 2006 7:49 PM
Dang, I'm excited that a 1 bedroom only costs $749K nowadays! Sweet!
Posted by: ladid at August 2, 2006 8:20 PM
Why are so many of you so angry?? The market of the last few years has not been "normal"..2-3 months on market..couple price reductions..greater inventory...this is normal.Let's all take a deep breath here and be a little more civil.
Posted by: herminie at August 3, 2006 2:48 AM
Has anyone purchased a unit in Glen Park Marketplace yet?
Posted by: anonymous at August 11, 2006 12:28 PM