April 17, 2012
The Over/Under For 568 29th Street
Repainted since purchased for $1,105,000 in August 2007 with an attic loft that remains unwarranted, 568 29th Street has returned to the market listed for $995,000 in 2012.
Call it $881 per square foot at asking for the two-bedroom Noe home, well over the neighborhood median of $670 per square in 2011, but 10 percent under its apples-to-apples sale price of $978 per square foot in 2007 (in which the median was $757).
The sale of 568 29th Street has closed escrow with a reported contract price of $1,014,000. Call it 2 percent over asking but 8 percent ($91,000) under it 2007 sale on an apples-to-apples basis.
First Published: April 17, 2012 8:30 AM
Comments from "Plugged In" Readers
So much for the "noe is selling for more than the bubble peak" arguments!
Don't forget the add'l 10.3% loss from inflation. Another $114,000 lost. When a market decline stretches on for this many years, it's simply dishonest to ignore the significant impact of inflation.
Posted by: anon at April 17, 2012 8:55 AM
Scare quotes around a
"made up argument" and yet
Posted by: [anon.ed] at April 17, 2012 9:00 AM
gotcha anoned, neither you nor anyone else EVER even suggested that things in noe are selling now for more than the bubble peak! My bad! But I'm glad we're all in agreement that such a suggestion would be ludicrous.
Posted by: anon at April 17, 2012 9:03 AM
You're a troll, mining
for rancor and nothing more.
Posted by: [anon.ed] at April 17, 2012 9:08 AM
You clearly are!
But I'm glad we're all on the same page subsstance-wise. Consensus is nice.
Posted by: anon at April 17, 2012 9:13 AM
look anon, you can't talk down the Noe market all by yourself by posting on the interweb. Nobody on here is making the market, you should have learned that in your Realtor Economics Class. You are just going to have to take your own advise and look for a house in a surrounding neighborhood that is less expensive. I told everybody to buy in '09, you should have listened then.
Posted by: sparky-b at April 17, 2012 9:23 AM
sparky-b, that's kind of you to stand up for your little, less intelligent, brother. And thanks for the advice! But, man, you really think I'd want to live in Noe Valley? Bleh. But I agree that buying there was about the least bad SF real estate move you could have made at that time. Not a good investment (just think how much coin you'd have if you'd put that cash into the stock market then, up 50%), but the least bad. At least you didn't buy during the bubble peak!
Posted by: anon at April 17, 2012 9:33 AM
"I told everybody to buy in '09"
You also told everybody to buy in '04, '05, '06, '07, '08, ...
Are you telling people *not* to buy now?
Posted by: tipster at April 17, 2012 9:46 AM
Why Tipster? Is the market trending up or something?
Posted by: [anon.ed] at April 17, 2012 9:50 AM
anon, I already sold the place I bought in '09. I sold the one I bought in '10 too. I didn't buy them to live in. I didn't buy anything during the bubble peak, and I did put money in the stock market in '09. But enough about me, let's talk about you. If you are not looking to buy or sell real estate in D5 why are you always on here talking about it? the witty banter.
I will give you this, you are spot on with your assessment of my brother.
Oh and pick a name.
No I didn't. you did. You were the one telling everyone to buy real estate during the bubble, to buy pets.com during the 1st bubble, and lately you have been telling everyone to buy linkdin and groupon.
^This is just as accurate as me telling anyone to buy real estate in the last bubble.
Posted by: sparky-b at April 17, 2012 10:14 AM
sparky got the height,
that's it. intelligence is
measured in haikus
Posted by: [anon.ed] at April 17, 2012 10:24 AM
Dear SS editor:
I thought you wanted people here to stick to the issue and not attack the individual.
Isn't calling someone a "troll" exactly what you don't allow?
Posted by: futurist at April 17, 2012 10:57 AM
^^^ I'll believe that once you construct a proper haiku. Chopping seventeen syllables arbitrarily into three stanzas doesn't cut it.
Posted by: The Milkshake of Despair at April 17, 2012 10:57 AM
^^oh, then you'll believe intelligence is measured in haiku. I don't think it is because I took an smart test on the world wide web one time and it did not have a haiku section.
Posted by: sparky-b at April 17, 2012 11:03 AM
@ futurist, meh. forgot what I was gonna say. You are just that boring to me.
try to not weigh in on things
less is more, homey
@ Sparky, sorry dude. Haikus make you smarter. Facts is facts.
Posted by: [anon.ed] at April 17, 2012 11:21 AM
Never start a land
war in Russia, build within
envelope in Noe.
Haterz stand no chance,
sparky-b and anon.ed
take victory lap.
Posted by: EBGuy at April 17, 2012 11:23 AM
The house is a small 2/1 with a strange layout (latter for the loft in DR). I think the seller got off rather easy.
Posted by: PPC at April 17, 2012 11:27 AM
Just want to add a few things:
- no one on the original post said it would go for over bubble peak / over it's 2007 price
- Uhm, I did guess $1M (and I think only person guessing it to go over-asking)...I'm off by $14k
- Closest to the price may not win anything...or for that matter...but I shall *bask* in the glory regardless!
Posted by: DanRH at April 17, 2012 3:52 PM