December 23, 2010

You See, It's Not Pacific Heights Prices That Are Falling...

2111 Franklin

Now that the listing for 2111 Franklin #4 includes photos, the 33 percent difference between the purchase price in 2005 ($1,075,000) and the list price today ($725,000) for the Pacific Heights condo all makes sense. Apparently the building is falling over.

But hey, what would you expect when there’s only $38,750 in sales commissions at stake.

The Short Sellers Come Up Short As 2111 Franklin #4 Returns REO [SocketSite]

First Published: December 23, 2010 9:00 AM

Comments from "Plugged In" Readers

It's leaning in the other direction in the MLS photo. It must sway back and forth, maybe a clever constructive technique for earthquake country.

Posted by: A.T. at December 23, 2010 9:34 AM

It's not easy taking pics of buildings in this city. Trees everywhere to block your way, plus these darn bloody hills.

Posted by: lol at December 23, 2010 9:36 AM

this is the latest trick in making the street look less steep.

[Editor's Note: The Only Appropriate Headline: “What The Hell Were They Thinking?”]

Posted by: condoshopper at December 23, 2010 9:53 AM

No reasonable person would dispute that prices are substantially down everywhere, especially for the high end homes in Pac Heights. But although technically at the edge of Pac Heights (by the realtors map), this 100x47 lot has it's primary frontage on the down-slope of the Franklin freeway with only a 3' at best sidewalk in front so every one of its' 10 units are immediately exposed to some of the highest (and fastest) moving traffic in the City.

Posted by: bran at December 23, 2010 10:07 AM

Maybe it's like the Mystery Spot? I wonder if balls roll uphill once you're inside.

Posted by: Scooter at December 23, 2010 10:19 AM

Didn't realize it was this building. The top floor has a really cool rounded window with nice views. It comes up for rent every once in a while I think.

Posted by: eddy at December 23, 2010 10:31 AM

Meanwhile sf.curbed is reporting that 2939 Vallejo sold for $1M over asking ask 8.5 sold 9.5. Not clear about how the lot was or was not factored into the sale. So there are clearly some people buying high end and prime prices.

[Editor's Note: Over Under Asking For 2939 Vallejo (Plus The Lot Next Door).]

Posted by: eddy at December 23, 2010 10:43 AM

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