As we first reported last month with respect to Matt Cain’s former home:

Having not been remodeled since the 60’s, the 2,628 square foot home at 1901 Diamond was purchased for $1,450,000 in 2007, underwent an “eco-friendly” and “no expenses spared” renovation, and sold for $2,050,000 with 2,819 square feet in October 2008.

Listed for $1,950,000 this past September, reduced to $1,850,000 “by Motivated Sellers!” in October, and then withdrawn from the market in December, yesterday the hill-top home with a Noe Valley address returned to the MLS listed anew and asking $1,795,000.

The sale of 1901 Diamond Street closed escrow on Tuesday with a reported contract price of $1,800,000. While officially “over asking” (by $5,000) according to industry stats and newsletters to be, it’s also 12.2 percent ($250,000) under what Cain paid in late 2008.
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A Motivated Matt Cain [SocketSite]

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Comments from “Plugged-In” Readers

  1. Posted by anon

    old matt cain does have a knack for doing well financially! Really good result. Only lost 12.2% plus another 7 1/2 % from inflation. Call it a 20% loss. And another $90,000 in commissions. Far better than most SF buyers are seeing. At least he can afford it
    Way to go. Now go work on your slider.

  2. Posted by tipster

    so he was 6 months ahead of “the bottom” in early 2009, and yet he still lost a quarter million dollars, plus another hundred thousand in selling costs, transfer tax, etc?
    I don’t think you can time things perfectly, but I think it’s better to have the bottom well behind you than a little ahead of you.

  3. Posted by [anon.ed]

    and in other breaking news, water is wet

  4. Posted by Rillion

    Yes, it is always better to have perfect 20/20 hindsight.

  5. Posted by anon

    20/20 foresight is far better than 20/20 hindsight. Everyone has the latter. Those who lacked the former (or heck, 20-40 or 20-100 would have been good enough) have lost a ton of $$$ in sf real estate.
    And a 94 mph fastball with a wicked changeup is always good.

  6. Posted by NoeValleyJim

    What is that weird black stain to the right of the front door? For $2M you would think they could at least paint the exterior.

  7. Posted by NJ

    Selling this house was obviously the key to throwing a perfect game.

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