March 2, 2012
No Noe Apple For You As 946 Elizabeth Is Withdrawn Without A Sale
Having been reduced to $2,495,000 two weeks ago, the listing for 946 Elizabeth was withdrawn from the MLS yesterday without a reported sale.
Once again, the single-family Noe Valley home was purchased for $2,375,000 in November 2010 having previously traded for $2,675,000 in April 2007, apples-to-apples style.
∙ Can You Correctly Re-Pick This Noe Valley Apple To Be? [SocketSite]
∙ 946 Elizabeth Is Picked
Up Down At 11 Percent Under Its 2007 Sale [SocketSite]
First Published: March 2, 2012 10:00 AM
Comments from "Plugged In" Readers
Ha ha, I just LOVE all the comments from the prior thread, about how we have so many tech workers, this will go so much higher, etc.
Then it doesn't sell.
Great job in predicting from all the usual cheerleaders.
Then, the thread before that, where we find out who came the closest in predicting it's sale price the last time around:
"The winner of our 'think you know Noe' closest to the closing price challenge? A plugged-in 'tipster'..."
Posted by: tipster at March 2, 2012 10:34 AM
Wow. Guess I'm off the cheerleader squad in your reckoning. Because I called it a "tough sell." Either that or now you're only imaginging phantom comments, and then talking about them in subsequent threads.
Posted by: [anon.ed] at March 2, 2012 10:45 AM
For somebody who ranted about selling Apple, LinkedIn, Pandora in December - only to have them all up about 30%+ since then - maybe you should tone it down, lol?
Or take your small victories, but just know overall you're a hot mess.
Anyway, anybody who actually saw this place knew it wasn't going. Showed like absolute shit.
Posted by: Agent415 at March 2, 2012 10:51 AM
tipster, I was the only one who said it was going to go quick over asking; tongue firmly in cheek.
Posted by: sparky-b at March 2, 2012 10:58 AM
Maybe potential buyers bought this place instead. It just sold for a shade over its 2000 price. 12 years, bay view, no appreciation.
Posted by: tipster at March 2, 2012 11:12 AM
Right. So he was gloating about comments that didn't even exist in the first place, and he still thinks we're all cheerleaders. Seems like ole Tippy is definitely stuck on the 2009 Holodeck, fighting raging Romulan bulls.
Posted by: [anon.ed] at March 2, 2012 11:16 AM
Maybe tipster, or maybe we can look at the exact same timeframe and assume the potential buyers bought this places instead:
bought in 8/99 for $3,062,500
sold in 2/12 for $ $4,995,000
with no updates and a crappy lot. 63% appreciation. And that wasn't even the most egregious example I found. Go to the flips to see the real money makes (aka 2531 Washington, 2250 Washington, etc..)
You suck (:
Posted by: Agent415 at March 2, 2012 11:32 AM
Not everyone working at tech companies makes or will make tons of money. Heck 99.99% of the worker bee software engineers are making tops $150k and few are getting tons of options.
Posted by: Facebook This at February 9, 2012 12:32 PM
Facebook This, few are getting tons of options you say but enough are getting options to fight over the limited supply in Noe.
And anyway if it's not a FB person then it will be a French guy. Either way, this apple will sing the sweet song of cash.
I will go a step further and tell you that the 2013 buyer next time around is going to pay $2.8M
Posted by: sparky-b at February 9, 2012 12:42 PM
I WAS FACEBOOK THIS...AND AHEM...WHERE ARE YOU NOW SPARKY-B?
Posted by: Facebook This at March 2, 2012 11:55 AM
Where am I, I posted 4 lines up.
Besides, everyone at every tech company has at least $1M in Facebook stock. It is known.
Posted by: sparky-b at March 2, 2012 12:01 PM
What did 145 Magnolia sell for (has it closed)?
That place was on the market a looong time
Posted by: DataDude at March 2, 2012 12:14 PM
"Besides, everyone at every tech company has at least $1M in Facebook stock. It is known."
Yeah, Plus It is known that
23 Offers = Hot MicroMarket
No Offers = All the Active Buyers left Noe to go back to France
Unless Maybe just Maybe Price & Valuation has a wee bit to do with number of offers....
Posted by: ReadingForRealtors at March 2, 2012 12:17 PM
I think it's clear that I did not remember that sparky was kidding in the prior thread.
I withdraw my snarky comment.
Posted by: tipster at March 2, 2012 12:32 PM
Wow, that 3196 Pacific house brings back memories. The CEO of Robertson Stephens lived there. Robbie Stephens, the King of Investment Banking during the dot com boom, is shut down and the CEO moved away to Los Angeles.
Financial services is so dead here. A couple more big IPOs and then that will be the end of it. There is so little on the horizon that a guy like that finally sells his SF home.
Sad to see a power player move out of the area and admit he's not coming back. I guess it truly is the end of an era.
Thanks for bringing it up. :)
Posted by: tipster at March 2, 2012 12:43 PM
The power player moved cause he got fired. For losing $60 million in 2001.
What does this have to do with anything?
Posted by: R at March 2, 2012 12:59 PM
"think it's clear that I did not remember that sparky was kidding in the prior thread"
No, it's clear that you only want to say certain things and you'll distort any source material to get there. That time you used the plural, "comments" when it was only one fake comment.
Regardless, you're slipping big time. You used to at least distort the gist of long articles by seizing on smaller points. Or link to random things such as other blog comments as evidence. You used to at least be calculated enough to know that few, other than those directly arguing with you, would be bothered to double check your distortions. But nowadays? You're trying to spin Socketsite's own links that the editor all but invites people to look at.
Posted by: [anon.ed] at March 2, 2012 1:06 PM
Tipster, Get a life. You must be a sad guy to need to get your kicks out of posting negative comments and wasting time reseaching links. But oh well, you are worth a laugh.
Posted by: j at March 2, 2012 1:14 PM
Good lord, tipster. Does it ever end?
"Sad to see a power player move out of the area and admit he's not coming back. I guess it truly is the end of an era"
We've just had 5 homes sell in Pacific Heights in the past half year for over $20M. If you're going to have an agenda, could you at least pick and choose your spots a little better?
Posted by: Longtime Lurker at March 2, 2012 1:29 PM
Ya ALL are Weird!
Here's the moral of this story:
1) Number of offers is useless unless you know the amounts.
2) More buyers at lower prices. More sellers at higher prices.
Posted by: ReadingForRealtors at March 2, 2012 2:20 PM
^ Thank you for the deep insight. I'm going to give you the benefit of the doubt and assume you're either 11 years old or drunk.
Posted by: Agent415 at March 2, 2012 3:19 PM
no wonder people get the idea that real-estate is a short term investment, this house has been on the market 3 times in 5 years.
Posted by: leo at March 2, 2012 3:52 PM
" Thank you for the deep insight."
Gotta Get Smart and put down the shoe phone Agent86 you're wading into KAOS!
Posted by: ReadingForRealtors at March 2, 2012 4:23 PM
The VIX2 index continues to forecast an uneventful sideways to sideways-lower housing markets for the next five years.
VIX2 (not a volatility index) is the socketsite Vitriol Index which tracks keywords and content to measure the level of vitriol in socketsite forums. High levels of vitriol between perma-bulls and perma-bears is generally indicative of stagnant markets where buyers wait for lower prices and sellers hold off for an improvement from current market levels. During these markets, apples and comps tend to give just enough evidence to preserve faith on both sides. Also, properties often cycle on and off the market without sale.
If evidence were overwhelming for strength in the housing markets, the level of Vitriol falls as realtors no longer feel the need to try to counter the evidence of negative apples-to-apples sales.
Posted by: VIX2 at March 4, 2012 11:18 PM
Do you think tipster and sparky own Socketsite?
I have seen their names on a lot of comments.
I just love it when they trash all these properties on Socketsite. Great way to attract traffic to the site. All my renter friends love them.
Posted by: Renter for EVER at March 5, 2012 6:59 PM
Where did I trash this property? What other property did I "trash"?
What makes your renter friends love me so much? Do you think I have a vested interest in bringing down property value and I have chosen facebook as my platform. When I do, you and your renter friends can ride my coat tails to cheap housing. Doesn't seem like that's it as you handle is "Renter for EVER". So it must be that by bringing down property value I will bring down rental rates and you will be able to enjoy those benefits.
You got me I'm a renter too and I am trying to keep my landlord from raising my rent.
Posted by: sparky-b at March 6, 2012 8:07 AM
Was just looking through Redfin and noted this property was now listed as pending...so perhaps a chance at an apple after all?
Posted by: no_ vally at March 20, 2012 11:06 AM