August 26, 2009
Bank Owned No Longer On The South Slope Of Bernal (622 Gates)
As we wrote in May:
Purchased for $510,000 in September 2005 and then flipped five months later for $631,000 ("Buy, sell, repeat, retire!"), 622 Gates Street was taken back by the bank in September 2008. The Bernal Heights home is back on the market and asking $428,900.
The sale of 622 Gates Street closed escrow yesterday with a reported contract price of $404,900, only 6% under asking but 36% under its previous comp setting price in 2006.
In somewhat related news, a plugged-in reader reports the lot value 533 Laidley in Glen Park "[s]old and closed in 16 days for $300,000 all cash" (40% under asking).
∙ Bank Owned And Back On The Market On The South Slope Of Bernal [SocketSite]
∙ Telling It Like It Is For 533 Laidley [SocketSite]
First Published: August 26, 2009 7:00 AM
Comments from "Plugged In" Readers
fish flipping on beach
summer winds suck the tide out
something big comes next
Posted by: The Milkshake of Despair at August 26, 2009 7:42 AM
milkshake of despair
can count to five and seven
haiyu must be proud
Posted by: curmudgeon at August 26, 2009 8:00 AM
or was it haiku?
Posted by: asiagoSF at August 26, 2009 8:40 AM
There once was a site name of socket
which tracked the up and down rocket,
through comments oft snide,
flippers to deride
who ended with nothing in pocket.
(Sorry, I am haiku'd out.)
Posted by: jd at August 26, 2009 8:43 AM
looks like an earthquake shack
Posted by: bernal at August 26, 2009 9:52 AM
call me a meathead
bernal is dead meat summer
blue bird flower sky
Posted by: chuckie at August 26, 2009 10:03 AM
The Laidley purchaser must be stoked! Great location.
Posted by: EH at August 26, 2009 12:26 PM
I think SocketSite is using the MLS people to maintain their commenting system.
Posted by: EH at August 26, 2009 12:27 PM
Bernal continues to sell for peak prices all the time.
Posted by: Legacy Dude at August 26, 2009 2:20 PM