July 16, 2007
Pick Your Proof: "See, I Told You The Market Is Up/Down!"
At least eleven (11) properties that we’ve featured on SocketSite have closed escrow over the past few weeks with results ranging from 20 Villa Terrace (which closed escrow on 7/13 for $1,523,660 or 39% below original asking) to 442 Anderson (which closed escrow on 6/29 for $1,230,000 or 27% over original asking). The full rundown tomorrow (including eight properties that were withdrawn) assuming, of course, that our servers have stopped smoking by then (sorry about that folks).
∙ A Number Of Notable Reductions (For One Reason Or Another) [SocketSite]
∙ A Modern Worldly Renovation In Bernal Heights (442 Anderson) [SocketSite]
First Published: July 16, 2007 3:02 PM
Comments from "Plugged In" Readers
I think you can blame the Chronicle for causing all your server problems. Keep up the great work, Adam.
Posted by: inmy20s at July 16, 2007 3:25 PM
Another property fearured here that has closed is 332 Comberland, but for $150,000 below asking. I was through this house and expected it to break $2.5M.
Posted by: wayne at July 16, 2007 3:46 PM
Or maybe there might be a tiny bit of rationality left in the market and a house will sell in a tight range regardless of the asking price. The asking price isn't an indication of actual value but rather often is what some ill-informed home owner wishes his house was worth.
Posted by: Monkey In Chief at July 16, 2007 4:23 PM
It all goes to show that SF is a city of neighborhoods and thus presents a very unique market. A few months ago, there were a number of single family homes for sale in my neighborhood (Forest Hill) asking around $1.5 million. I thought they would sit for a while -- wrong. All sold for asking.
Posted by: Anne at July 16, 2007 6:59 PM
The house on Cumberland was 339 and has not closed escorw yet. 332 is across the street.
Posted by: noe boy at July 16, 2007 7:55 PM
20 Villa Terrace - That's a good street with great views typically. Can anyone guess why it failed to see bids near the ask? Did anyone tour the property and do you have comments ? Thanks
Posted by: anon at July 17, 2007 9:32 AM
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