Listed for $2,995,000 in October 2007, the totally renovated 176 Palm closed escrow in November 2007 with a contract price of $3,100,000.
Back in the market for two weeks without a sale in September 2009 asking $3,100,000, the Jordan Park home is now back on the market in 2010 and listed for $3,150,000.
∙ Listing: 176 Palm (4/4.5) – $3,150,000 [176palm.com] [MLS]
∙ From Couch To Kitchen To BBQ And Back In No Time Flat: 176 Palm [SocketSite]
where is jordan park?
This is the outskirts of Jordan Park. 2.6 seems about right. Of course they could list it again next year for 3.2. That makes a lot of sense.
Apparently Jordan Park is the western part of Laurel Hts? It’s the 8 western big blocks. Who knew?
http://en.wikipedia.org/wiki/Neighborhoods_in_San_Francisco#Jordan_Park
Note to all the real estate agents reading this. If your vanity website resizes my browser, I will immediately navigate away. In such a tech-heavy area and with a tech-heavy buying pool, I’m positive that I am not the only perspective buyer who is turned off. It’s a potentially expensive mistake.
I remember this house from 09 and 07. Surprised it sold so quickly both time at its price. Not sure what will happen here to be honest.
I agree with Q. Many of the RE site links from this site direct to sites with somewhat annoying templates. Resizing – bad. Automatic slideshows – bad. Click for next pic – good. Keep it simple and fresh, like heirloom tomatoes.
As for the house, it’s gorgeous. I wish I had the money, but I don’t. Good luck.
Agree with Q and schlub … and let’s hold the syrupy music too.
Ditto on the browser window resizing and the music. Who are these idiots and what planet do they live on? Why not change my desktop background, or rearrange my filing system hierarchy, while you’re at it?
With a location just off Geary and across from the public Jr. High (that has a lot of kids that look like High School age gang bangers) I don’t think they will get $3mm (they are asking just a little less than the Perkins home on Maple sold for in a neighborhood that is not nearly as good near schools with much tougher kids that cause more problems)…
Also, no Flash! I cannot tell you how many times I’ve wanted info on a house while walking down the street with my iPhone, and now with iPad! The majority of sites are useless to me.
I know, perhaps I should bitch to Apple…yet I support them in their desire for a free and open internet, so that won’t happen.
Great looking place. Lots of extra storage/bonus space, don’t know the neighborhood though. 2.6mm?
Ditto on the website comments and about flash…
“I know, perhaps I should bitch to Apple…yet I support them in their desire for a free and open internet, so that won’t happen.”
Not to usurp the conversation, but if that’s the case, you should not buy Apple. Apple is only about open systems when it doesn’t apply to them. iPhones, iPads, iTunes, etc. are ridiculously locked down and controlled.
As for agent websites, flash is basically standard on almost any site, real estate or not, these days, so I don’t think it’s worth criticizing. The other criticisms are certainly valid.
As to this house:
“With a location just off Geary and across from the public Jr. High”
FAB — to be clear, that’s just a criticism of Laurel Heights in general, correct? Half of Laurel Heights is next to Geary, and the eastern portion is next to Trader Joe’s and Marin Day, with some of the rest along the north next to hospitals.
Seems like a valid criticism for sure, as opposed to the house on Maple. The one on Maple also has a ton more curb appeal than this place on Palm or the recent sales in the neighborhood on Jordan and Palm. From one angle, the recent sale on Jordan looks like some of the Peninsula crapshacks featured on Burbed.
Also of note, this is actually a FSBO (For Sale By Owner) according to the property website. FSBO’s are extremely rare in that location and with a luxury property price, hope the seller knows what he is doing! That alone might scare buyers away…
“hope the seller knows what he is doing! That alone might scare buyers away…”
tootie — What do you expect a seller to know and what are you concerned about? If you’re familiar with a real estate transaction, it’s not that hard to do an FSBO, and you can get the standard forms pretty easily. It’s not like realtors draw up custom forms for each transaction. If you are a seller concerned about the disclosure aspect or any other legal issues, you can hire an attorney for a fraction of the price you would pay a realtor.
If you’re saying it might scare away buyers’ realtors if the seller won’t kick in the 3%, well, that’s another issue entirely. But I don’t think that would deter a real buyer.
The only thing that deters buyers is price. For the right price, everything sells.
This is yet another M&A partner selling. Seems to be quite the trend.
How does one go about getting listed on the MLS as a FSBO? This is the second such property I’ve seen with this situation. The other being the Scott st home that has hit the market and not sold several times. FSBO sellers are too greedy. They should drop the price to attract buyers rather than try to eek out the premium. Make the agent work and market the property for the premium.
Also, I love the directions on the MLS: “Go west on California, turn left at Palm.”
Alternatively, “Go West on Geary, turn right on Palm. 3rd house on Right after the ugliest US Bank building in the city.”
a broker entered it in the MLS for the owner – and they’re offering 2.5% to the buyer’s agent which is the most typical amount offered. we’re largely a 5% city, not 6%. you can’t use the MLS if you don’t offer some kind of commission to buyer’s agents – but you can pay e-list or whatever their called a few hundred bucks and get entered.
but fsbo’s are largely stupid – they over price and try to save themselves 2.5% instead of passing on the savings to the buyer for a quick sale or pricing it right and splitting the savings which would be $35k each if this sells for $3M.
fsbo’s also mostly don’t know how to negotiate or protect themselves from law suits. it sounds easy – hire an attorney, price it right, be truthfull and thorough in your disclosures – but greed is blinding.
“fsbo’s also mostly don’t know how to … protect themselves from law suits.”
hangemhi, can you back up that assertion? What can a realtor do that a real estate attorney wouldn’t do better? (and again, at a fraction of the cost)
i’m not saying it’s hard…. what i’m saying is that many don’t act smart. many don’t hire an attorney and try to do it all on their own. and even if they do, the seller fails to make full and complete disclosures. part of my job is to get them to admit things they really don’t want to admit because they’re afraid it will effect the sales price – well duh, if it would then you had better disclose it because you’re going to get sued when the buyer discovers it later on.
i think if a seller chooses to go fsbo because they know how to – great. but if they do it out of greed – chances are they will make greedy mistakes like not admitting to leaks during rainy season or neighborhood noise problems, or who knows what else, because they know it will net them less.
“i think if a seller chooses to go fsbo because they know how to – great. but if they do it out of greed – chances are they will make greedy mistakes…”
What a loaded diatribe. Do you also call people greedy if they change their own motor oil, or mow their own lawn???
I am just having a hard time creating the mental image of a realtor primarily acting as a truth slinger.
J – sorry to hear that you don’t know honest realtors. you should get out more often.
the fact is, even a dishonest realtor with half a brain would make sure the seller discloses material issues just to avoid getting themselves into law suits.
but how about if i take the word “greed” out? will you feel any better? how about stupid instead?
doesn’t the home in this thread make my point? you all think it’s worth $2.6 and not only does he go fsbo he INCREASES his list price $50k when it wouldn’t sell before. is that greed, stupidity or something else?
“the fact is, even a dishonest realtor with half a brain would make sure the seller discloses material issues just to avoid getting themselves into law suits.”
But what’s the incentive? If a realtor screws up advice on a disclosure, what real recourse does the seller have? If a lawyer screws up advice on a disclosure, the seller can sue the lawyer for malpractice. This seems like a no-brainer.
As far I know, lawyers do not negotiate on behalf of the seller. They dont strategize with a seller to pick the right list price to get the most that the market can bear for a property. They do not work with lenders to actually get the sale to close. In this difficult lending environment, good realtors with experience are well worth the 2.5% to get the deal to close.
Realtors in this market and price range work very hard to massage the price as high as it can go, often getting multiple offers on the table to push the price up. I wish this owner luck but I fear he wont get his price and guess that he will pull it off the market again. When he eventually goes back on, he will have his property history to contend with which will most definately affect his price.
“As far I know, lawyers do not negotiate on behalf of the seller. They dont strategize with a seller to pick the right list price to get the most that the market can bear for a property. They do not work with lenders to actually get the sale to close. In this difficult lending environment, good realtors with experience are well worth the 2.5% to get the deal to close.”
But, even if you dislike doing those two things yourself, paying a realtor 2.5% to do them seems overkill. Furthermore, there’s no reason that the cost of doing those two things necessarily varies based on the price of the property.
In any case, while I’m skeptical of the “market can bear” comment, I am truly skeptical at what a seller’s agent is doing to help the lender, per your claim. What specific lender requests are you referring to? How specifically does a selling agent help resolve those requests?
The right lawyer can negotiate on your behalf and they will focus on the contract terms where some tricky nuances might lie. Price is so easily understandable that the lay person need not involve a professional.
“In this difficult lending environment, good realtors with experience are well worth the 2.5% to get the deal to close.”
One could argue that if you need a professional (real estate agent or mortgage broker) just to get a loan in the first place that you might be reaching and cannot really afford the property in the first place. I’ve heard that a few people are finding out now that they have stretched too far. (Thanks for the help!)
Brokers have it good here in SF. There are magazines, such as Nob Hill Gazette, which promote them as if they were celebrities.
In London and in Paris, they are seen as the lowest level of salesmen, dishonest and self-serving. There are no brokers at major private social events in those cities, nor do the spouses of rich people or scions of great families choose this occupation as a genteel means of earning a living without working too hard.
That’s exactly my point, Milkshake. It’s one thing if you don’t want to deal with it yourself, it’s another thing to suggest that someone should pay overpriced fees for the thing you don’t want to do yourself. No realtor I’ve used can tell me about legal points within a contract. Their experience is basically copying a form and filling in some blanks.
The listing for 176 Palm has been withdrawn from the MLS without a sale.
It’s Baaaack. $2,995,000
[Editor’s Note: A Jordan Park Apple Returns On Palm (And To Its 2007 List Price).]
Original loan was for $2million (first only) with Countrywide. Refied by Citi (first & second, amounts unknown) in Dec. 2009.