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]

9 thoughts on “Bank Owned No Longer On The South Slope Of Bernal (622 Gates)”
  1. 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.)

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