152 Banks
To recap: 152 Banks in Bernal Heights was purchased for $675,000 in July of 2005; sold in April of 2006 for $900,000; appears to have been bought back by the bank three weeks ago; and returned to the market two weeks ago for $749,900 (“will go fast at 750K” according to one rather bullish “anon[ymous]” commenter). Just reduced to $699,900.
As a plugged-in reader notes, “just hope no one used that silly $900K price a few years ago as a comp!”
∙ Listing: 152 Banks (3/2) – $699,900 [MLS]
Bad Data In Bernal Heights Or Something Else Afoot? (152 Banks) [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by San FronziScheme

    Close to Cortland, a 3/2. This is a decent family dwelling. First house, first kid. Unfortunately this is a market that suffers today at 600+.
    With less and less banks around and more of the surviving ones setting rates like 9% for Jumbos (WF Wachovia, more?), houses like these were right into Jumbo territory. They’re getting closer and closer to exiting that territory…

  2. Posted by San FronziScheme

    Wait. Wachovia is now Citigroup. Maybe they can go to Wamu. Oh, Wamu is JP-M/C/BS/WM. Man, this banking mess moves fast.

  3. Posted by chuckie

    “Three blocks east of here is 45 Nebraska St. A 4 bed/2bath/2 car garage/ panoramic views languishing on the market for 58 days. List Prices has been reduced $130,000.
    Listing Price History
    Date Price
    Jul 16, 2008 $985,888
    Aug 13, 2008 $935,000
    Sep 04, 2008 $855,000
    Last Sale in Oct 2005 at $950,000.
    http://www.redfin.com/CA/San-Francisco/45-Nebraska-St-94110/home/762874

    45 Nebraska taken off the market? In contract?

  4. Posted by sparky-the-bear

    It’s not a jumbo loan at this price…

  5. Posted by Trip

    45 Nebraska is in contract.

  6. Posted by Snark

    That house is butt ugly. Maybe that’s why it’s not selling.

  7. Posted by chuckie

    snark, I think people said the same thin about 45 Nebraska and it’s now in contract. I find this quite amazing.
    [Removed by Editor (let's keep this discussion focused on 152 Banks or at least Bernal).]

  8. Posted by Foolio

    Bernal Hill properties suffering? Imagine that!

  9. Posted by kaya

    It must have a disclosure list that doesn’t quit. There aren’t any photos, so you’d have to hear from someone who’s seen the place.
    I spent the past couple months going to BH open houses and felt like I was in a groundhog day real estate movie. I kept seeing the same tiny houses on tiny lots that smelled bad and seemed to have almost zero potential to be anything other than the tiny 2bd/1ba they were (perhaps you could add a dungeon with a bathroom downstairs)… yet they kept going for ~ $800k.
    We’ll see what happens over the next couple months, but this home’s obviously got issues beyond the market. Still sounds like no one’s actually been here =)

  10. Posted by ANON

    I want the tiny green house next door!

  11. Posted by garrett

    as of today 10/1 the status is “act. cont.”

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