Purchased for $1,515,000 in August 2005, it was a plugged-in tipster that noted the sale of 226 Caselli for $1,420,500 back in November 2007. As our tipster wrote at the time:
Ironically, as new homeowners on the block (yes, we bought within the past year), you would think that we would be dismayed, or at the very least experiencing extreme denial, about these listings…But before we were homeowners, we were well aware that the SF market might be headed for trouble, and gaining a mortgage and a property tax bill did not suddenly make us grow blinders as well!
We bought a house this year…not because we were trying to ‘time the market,’ and not because we believed our house’s appreciation would beat out our stock market investments, but because it was the right time for *us* (recent job promotion, new baby on the way…all the reasons that normal pre-bubble citizens used to buy houses). We didn’t buy our house as an investment…and if the market declines by 10-20% (and I think this is a possibility)…well, we bought for the long-term and intend to stay here at least 5, if not 15, years.
So I do believe that one can be a homeowner AND a rational observer as well, and I bet there are many like-minded readers of [SocketSite].
Having been slightly updated (the floor in the kitchen for example), 226 Caselli is now back on the market in 2011 listed for $1,399,000. And our 2007 tipster weighs back in:
We are still real estate bears. In fact, we do not think the market has hit the bottom yet…which makes me happy that we still have jobs which will keep us in San Francisco for at least the next ten years.
In spite of being real estate bears, we still love being homeowners and are (embarrassingly so) completely in love with our house. [And] we are still huge fans of SocketSite.
Thanks for keeping it real…even back in 2007, when it wasn’t fashionable to do so!
∙ Listing: 226 Caselli Avenue (3/2) 1,712 sqft – $1,399,000 [MLS]
∙ Single-Family Apples To Apples (And A Reader’s Perspective) [SocketSite]