The then 3,078 square foot home at 2765 Union Street was purchased for $3,595,000 in early 2008. In 2010, 759 square feet were added behind the garage (the entrance to which was widened) and includes a new bath, “storage space,” and proper mudroom.
Purchased as remodeled in 2008, the baths and kitchen have been remodeled anew.
The Cow Hollow home is now back on the market and listed for $4,695,000.
∙ Listing: 2765 Union Street (5/4) 3,962 sqft – $4,695,000 [Redfin]
just saw that – very nice indeed but seems slighly overpriced for current market;
MLS lists this as 3962 square feet. This will not sell at the current $1185/psf. It is a nice home. No view. Not sure how this breaks 1k/psf; which would be a great market outcome if you ignore what capital they may have put in the home.
Eddy is correct, 2765 Union Street did not sell at its listed $1,185 per reported square foot, but rather closed escrow today with a reported contract price $4,795,000 ($1,210 per square).
wow. $1,210 per square foot
Yawn. About the same ppsft from before the complete remodel. It also got a useable garage (they dug it down-most cars wouldn’t fit) and they replaced most of the foundation. Love the expanded and remodled kitchen – the old one was small and out of date.
All that work, yet the same ppsft? One of the nicest blocks in SF.
Nice $115K rounding error there tipster. Yawn, indeed.
$115K? That’s 2.44% of the purchase price.
Zynga and Pandora stock are both down about 25% since their pending date ONE month ago, Groupon is down 35% in that same period, and options obviously amplify the losses tremendously. Tesla is down 10%. Even Yelp is around the same price as its first day close.
I doubt they’d get that 2.44% today. The only people still bidding the same prices as last month are those who didn’t realize how quickly all these new tech stocks are collapsing, leaving their holders with worthless options or those with greatly reduced value.
Tough to bid the same price for a house when you’ve just seen your option money evaporate.
So your saying next month we will see a disaster in house prices? That would mean that nothing would be going into contract at high prices, right. But I posted yesterday that Roosevelt and Clayton just went into contract, plus there is 3235 Pacific
350 Hill
1456 Willard
28 Hill
1466 Noe
and the 33 Fountain place that got all the overbids.
Those are all in contract right now. Why are they not getting out of contract with this breaking Pandora and Groupon news.
The king of bears is again as predictable as the rapture messiah. Except we never get any apologies when the looming disaster has not happened. One can always dream.
All I’m saying is that in the last six months, Zynga first gained more than 30%, and has now lost about all of that gain. Others have seen similar rises, then falls. I’m sure during the period it was up 30%, it helped housing prices, and I’m just as sure as stock prices are falling, it hurt them.
Even groupon, now down 55% from six months ago was showing a gain from the start of that same period through mid February. Things were pretty strong through that time period and now we’ve lost a lot of the gains.
A lot fewer people have option money to spend, and a lot of them don’t have as much as they did in February. So yes, things will probably tick down a bit from that period when just about every new issuance was doing pretty well.
Funny to see it that way.
What I see is companies that didn’t exist before, therefore with $0 valuation who are now worth 100 of Millions or even Billions. There are tons of these in the BA. Many of them are profitable. This is local wealth creation, often a transfer of wealth from other parts of the world. For instance the Chinese middle class grows, then millions more can now afford an iPhone or stream content or play online games.
But being fixated on looking at every downward twitch of the needle in real time just makes you miss the bigger picture: we’re on the right side of global growth. Lucky us.
The overwhelming majority of people working for Zynga got options at $10 or above.
The stock is at $10.06 as I write this.
Most of those people had jobs elsewhere, took a cut in pay to jump to Zynga to strike it rich, and now have nothing to show for it but the cut in pay.
It’s more jobs, that’s true, but the salaries cannot support the current valuations. When prices fall to the level where they are supported by salaries, more jobs will mean higher prices, that’s true, but not at these valuations, sorry.
And what never makes the headlines (but I see it every day) are the companies still struggling or going out of business. A few headline companies doing well is always the case, even when home prices are falling.
All of these companies had increasing valuations from 2008-2011, when home prices were falling. They all had shares tradeable. Didn’t help.
lol, tipster. At least you’re consistent with yourself.
Add all the laggards together then look at the increase in valuation from AAPL alone. Then add all the tech successes that we are hearing about, then the ones we never hear about because they are not sexy enough to be picked up by he media.
To go back to AAPL, I have a friend fresh out of a French Ivy league school who was hired at AAPL in 2007. All the GOOG friends were kind of amused, fresh from their recent cash-out. Guess who’s really amused today.