May 21, 2007
A Number Of Notable Reductions (For One Reason Or Another)
After just over a month on the market, three recent reductions caught our attention (for one reason or another):
1. 745 Detroit was reduced $105,000 (6.2%)
2. 3840 Market Street #301 was reduced $200,000 (12.1%), and
3. 20 Villa Terrace was reduced $780,010 (31.2%)
The reasons? The great (and sometimes not so great) neighborhood debate, an agent owner, and just one honkin big reduction. Yes, in that order.
∙ Listing: 745 Detroit (3/2.5) - $1,595,000 [Sotheby’s]
∙ Listing: 3840 Market Street #301 (3/2.5) - $1,450,000 [MLS]
∙ Listing: 20 Villa Terrace (4/3.5) - $1,719,990 [MLS]
∙ Not Just Cool But “Uber Cool” In Sunnyside [SocketSite]
First Published: May 21, 2007 8:52 AM
Comments from "Plugged In" Readers
There were also some notable reductions on some SOMA conversion lofts in the last couple weeks.
Clocktower lofts unit #C322: Reduced from 979k to 899k.
400 spear #115: reduced from 775k (original price) to 699k. there have been a few reductions on this one. 775k was the original asking price 60 - 70 days ago.
1097 howard # 203: reduced from 689k to 649k
Posted by: Brad at May 21, 2007 9:29 AM
31.2% HOLY CRAP!
of course this puts the price per square foot at 637.51 according to the MLS which seems likely to start a bit of a bidding war.
Smart move to generate interest and get the sale recorded as 'over asking'.
Posted by: badlydrawnbear at May 21, 2007 12:10 PM
No worries, folks.
This one's bidding war should start any day now!
Posted by: blahhh at May 21, 2007 12:54 PM
What if they started a bidding war and nobody came?
Posted by: 94114 at May 21, 2007 1:25 PM
I'm not going
Posted by: anony at May 21, 2007 2:24 PM
Anyone know who did the interiors at 745 Detroit?
Posted by: pwb at May 21, 2007 9:33 PM
"What if they started a bidding war and nobody came?"
My guess is that they would start a new and much bigger one. The market is so hot everywhere else, so they say. Why should this beautifully marketed home be any different?
Posted by: blahhh at May 22, 2007 9:04 PM
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