November 3, 2006
Okay, So Perhaps Not The Final Final
While advertising a “Third and Final Price Reduction” on 9/25/06, the list price on 593 Missouri Street in Potrero Hill has since been reduced. Twice. And while the first four reductions ranged from one to two percent each, wednesday’s fifth (and final final?) reduction lopped another 15% ($70,000) right off the top (now asking $399,000).
Keep in mind that it’s a TIC but “Individual Loans Available Thru Sterling Bank,” “seller will provide interim financing for quick close,” and “no evictions.” Plus “all new systems…stainless kitchen appliances, washer dryer hook ups in unit, [and] refinished original softwood wide plank floors.”
∙ Listing: 593 Missouri (2/1) - $399,000 [anthonykoutsos.com] [MLS]
First Published: November 3, 2006 12:00 AM
Comments from "Plugged In" Readers
A friend spoke with the listing agent today to express interest in the property and was told that the property wasn't for her and that the price reduction was an attempt to generate interest. Same old game - different market.
Posted by: pixie sticks at November 3, 2006 10:10 PM
I would never buy a TIC. TIC's are for suckers. TIC loans are overpriced and most are ARMS/non-fixed rates
Posted by: Anonymous at November 5, 2006 7:57 PM
A few years back a place like this would have sold for under $100K. I wonder if the TIC buyers with their own loans know what they will have to pay the taxes if the other TICs don't...
Posted by: Apt. Investor at November 6, 2006 11:30 AM
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