Purchased for $860,000 in May 2005, the renovated single-family home at 1409 20th Street returned to the market as a “pocket listing” asking $949,000 in early 2009 before being listed for $899,000 in February 2009. As we wrote at the time:
A sale at asking would represent average annual appreciation of 1.5% over the past three and three-quarter years for 1409 20th Street. And if you’re planning on playing the “I told you so card” with respect to its eventual sales price, go on record now or forever hold your peace (bulls and bears alike).
Following three price reductions and a “LAST CALL! Final $ Reduction” listing plea, the sale of the Potrero Hill home closed escrow in June 2009 with a reported contract price of $799,000 (representing average annual depreciation of 1.8% from 2005 to 2009).
And while we missed its return to the market two weeks ago, a few plugged-in readers did not. Now asking $865,000 (8 percent over its 2009 price). Once again, if you’re planning on playing the “I told you so card” with respect to its eventual sales price, go on record now or forever hold your peace.
∙ Listing: 1409 20th Street (2/1) – $865,000 [MLS]
∙ A Potential Single-Family Apple Atop Potrero Hill: 1409 20th Street [SocketSite]
∙ Its Last Call Is Heard: Apples To Apples For 1409 20th On Potrero Hill [SocketSite]