As we wrote in March:

While we typically wait until a property has closed escrow, or at the very least until all contingencies have been waived, a plugged-in tipster notes that 5950 Margarido just went into contract. And we never get tired of looking at that house (click image to enlarge).

Keep in mind the asking price was reduced from $5,500,000 to $4,795,000 last month. And note our reference to March Madness in our October headline. Coincidence? (Yes.)

Now about those margaritas…

As a plugged-in tipster writes today:

The Margarido house has fallen out of escrow due to the pending sale of the new owner’s house [having also fallen out of escrow]…

Yes, it’s a Margarido (sale) on the rocks (ba-dump-bump). And it’s back on the waiting until a property has actually closed escrow wagon for us.
Now about the strength of the Bay Area’s luxury market
March Madness For 5950 Margarido (Coincidence?) [SocketSite]
There’s Green (And Perhaps Even Platinum) Up In Them Thar Hills [SocketSite]
It’s March Margarita Margarido Madness As 5950 Goes Live At $5.5M [SocketSite]
“San Francisco” Prestige Index Up 1.1% In First Quarter [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by EBGuy

    The listing price for 5950 Margarido has been reduced to $4.3 million. Across the street, 6001 Margarido (4,953 sq.ft.) received a NOTS on May 18, 2010 and is now listed for $1.695 million (purchased for $2.15 million in Oct. 2005 with $1.935 million from Countrywide). Nothing like a little competitive pricing…

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