622 Gates (Image Source: MapJack.com)
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]

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Comments from “Plugged-In” Readers

  1. Posted by The Milkshake of Despair

    fish flipping on beach
    summer winds suck the tide out
    something big comes next

  2. Posted by curmudgeon

    milkshake of despair
    can count to five and seven
    haiyu must be proud

  3. Posted by asiagoSF

    or was it haiku?

  4. Posted by jd

    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.)

  5. Posted by bernal

    looks like an earthquake shack

  6. Posted by chuckie

    call me a meathead
    bernal is dead meat summer
    blue bird flower sky

  7. Posted by EH

    The Laidley purchaser must be stoked! Great location.

  8. Posted by EH

    I think SocketSite is using the MLS people to maintain their commenting system.

  9. Posted by Legacy Dude

    Bernal continues to sell for peak prices all the time.

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