November 12, 2007
You Might Not Have To Sell, But What Happens If Your Neighbor Does?
Having last changed hands on 7/28/2006 for $700,000, 950 Harrison Street #202 was listed last week for $599,000 and is advertising “Great SHORT SALE opportunity.”
At the same time, 950 Harrison Street #210 (which is smaller by 104 square feet and last changed hands on 11/22/2006 for $679,000) and 950 Harrison street #123 (which is smaller by 276 square feet and a half-bath and last changed hands on 8/28/2006 for $605,000) have both been on the market for two months (and are currently asking $705,000 and $625,000 respectively).
∙ Listing: 950 Harrison Street #202 (1/1.5) 1,120 sqft - $599,000 [MLS]
∙ Listing: 950 Harrison Street #210 (1/1.5) 1,016 sqft - $705,000 [MLS]
∙ Listing: 950 Harrison Street #123 (1/1) 844 sqft - $625,000 [MLS]
First Published: November 12, 2007 9:57 AM
Comments from "Plugged In" Readers
for the neighbors sake, here's hoping they don't 'have' to sell and can wait out the slump or that a bidding war erupts over the 599k asking and drives up the price.
Posted by: badlydrawnbear at November 12, 2007 10:49 AM
This is what happens when all of your neighbors over-paid in a high rise new condo development.
Low comps will be set by bank-owned homes and sellers with lower buy-in prices (e.g., pre-2001) that can still lock in huge gains, but spell bad news for top of the market buyers.
What happens if #202 doesn't sell and the new short sale price? $550 looks cheap on PSF basis, but I always discount loft square footage anyway.
E.
Posted by: eddy at November 12, 2007 11:19 AM
950 Harrison Street #110, 2 bedrooms, 1331 sq. ft, recently sold for $690,000. I think the other two listings are over priced and this short sale is priced fairly.
Posted by: JZ at November 12, 2007 11:20 AM
Either I'm missing something...or there's another short sale in the same building:
Posted by: Dude at November 12, 2007 12:04 PM
I saw 202 yesterday. At least it is relatively quiet considering its window faces Harrison and 101 is only half a block away. I hate the loft with non-loft aesthetic -- worst of both worlds.
Posted by: ML at November 12, 2007 12:59 PM
The more expensive unit isn't just smaller, it's darker in the kitchen and in the sleeping area. That listing is doomed.
Posted by: Mole Man at November 12, 2007 6:07 PM
Post a comment
Continue Perusing SocketSite:
« S&P/Case-Shiller Home Price Index For San Francisco By Price Tier | HOME | Ritz-Carlton Residences Penthouse Shell: Now Seeking 2006 Price? »
