February 28, 2011
While One Is Ready To Sell A Neighbor Seems A Little Less So
It’s a plugged-in tipster that notes a pair adjacent condos for sale at 3110 California. Purchased in November 2005 for $967,000, this past September 3110 California #2B returned to the market seeking $979,000.
Reduced and relisted a few times since, they’re now asking $849,900 (12 percent below 2005) for the Pacific Heights two-bedroom as the agent notes "seller ready to sell" and offers the "buyer’s agent" a $2,000 bonus for making the sale.
At the same time, 3110 California #2A which was purchased for $1,000,000 in September 2004 hit the market ten days ago listed for $1,200,000 (20 percent over 2004) and seemingly a little less ready to sell the three-bedroom.
First Published: February 28, 2011 6:00 AM
Comments from "Plugged In" Readers
Who doesn't love a good race to the bottom?
Posted by: El Bombero at February 28, 2011 7:31 AM
The only rational way to explain this is that the owner of B is paying the owner of A to make unit B look much more attractive financially.
Posted by: gallileo at February 28, 2011 8:40 AM
something is extremely wrong with the kitchen in B, the realtor is intentionally hiding a corner and I don't see a refrigerator.
Posted by: EH at February 28, 2011 9:19 AM
"something is extremely wrong with the kitchen in B, the realtor is intentionally hiding a corner and I don't see a refrigerator."
Sold it to unit A for $350,100!
Posted by: Snowball at February 28, 2011 10:44 AM
Both overpriced. It will be a costly ending for the current owners. My condolences.
Posted by: eddy at February 28, 2011 11:13 AM
Maybe the fridge is gone. It might have been where that blank wall space is. Rare is it to find open bare wall like that in the middle of a kitchen.
Posted by: Rillion at February 28, 2011 12:25 PM
The issue is why the picture doesn't show the corner. I'll venture that there's an unsightly exposed ice maker water connector that's usually hidden by a fridge and that the photographer didn't want it in the pic.
Posted by: lol at February 28, 2011 1:12 PM
Yeah, I figured that might be fridge space...but why stage without a refrigerator?! It's just weird, that's all, I'm sure the unit is perfectly fine otherwise. :)
Posted by: EH at February 28, 2011 1:14 PM
I used to have that same cherry veneer floor in my place and ended up replacing it. There are two big problems. First, it's incredibly soft. Nudge a piece of furniture over an inch or drop your iPhone on it and you've made a permanent gouge. Second, it's incredibly light-sensitive. It starts changing color almost immediately. Within a few weeks all your large, light-blocking furnishings(rugs, sofas, etc.) have created big discolored areas on the floor. If you try to rearrange things a few months later it looks like a checkerboard. This flooring is sold as a premium product but it performs poorly.
Posted by: sunnyvalesteve at February 28, 2011 2:03 PM
I'm pulling from PS and the Recorder's website. YMMV.
Unit 2B - Purchase price, 2005: $967k (WaMu, $725,250 first). Refi in Dec, 2006 with WaMu. I'm betting they liberated some of their downpayment.
Unit 2A - Purchase price, : $1million (WaMu, $700k first). I'm not seeing any refi activity on the Recorder's website.
Posted by: EBGuy at February 28, 2011 3:05 PM
Unit 3B, which sold for $978k in Oct. 2007, also has a WaMu mortgage. Just sayin'...
Posted by: EBGuy at February 28, 2011 3:58 PM
> also has a WaMu mortgage. Just sayin'...
So this is the building that single-handedly took down WaMu? Argh matey ... :)
Posted by: SanJoseRenter at February 28, 2011 5:26 PM
The list price for 3110 California #2A has just been reduced to $1,099,500.
Posted by: SocketSite at March 23, 2011 2:28 PM
The list price for 3110 California #2A has just been reduced to $1,039,000.
Posted by: SocketSite at April 28, 2011 12:37 PM
The list price for 3110 California #2A has been reduced to $999,000.
Posted by: SocketSite at June 10, 2011 9:38 AM
The list price for 3110 California #2A has been reduced to $948,000.
Once again, purchased for $1,000,000 in September 2004 and having returned to the market in February listed for $1,200,000
Posted by: SocketSite at June 22, 2011 9:14 AM