Five words that don’t belong together in the same sentence: “luxury home” and “beautiful pergo floors” (and yes, Pergo does have its time and place). And two words it’s tough enough to see alone: “short sale” (last changed hands in 2005 for $900,000).
∙ Listing: 120 Cross Street (5/3) – $800,000 [MLS]
Zillow would have us believe this place is worth $990k and was worth $1.07m a few months ago…
Short sale.
So another 100K millionare bites the dust.
Looks like the lender financed 100% of the purchase. So the buyer’s credit is ruined for a while, and he won’t walk totally unscathed financially (the tax bite on the $100k “income” from the short sale will hurt), but it is the lender who really eats it — as it should be. Or if this was sold in the secondary markets, the buyer of the mortgage is the one left holding the bag — I also shed no tears there.
Hmmm….not much curb appeal. But it is big and has lots of potential. View is probably pretty at night. But I’m just not a huge fan of that area.
But, for those who are, check out 38 Sadowa. 3 bedroom, 2 bath, 1,360 square feet. Currently on market for $498K. No joke. An SFR in San Francisco for under $500K. Not gorgeous but it’s livable.
http://sfbay.craigslist.org/sfc/rfs/456392782.html
Oh, the last sale? December of 2006 for $670K. So in under a year, a $170,000 loss (or 25%).
Dude at October 22, 2007 1:28 PM
Its actually 598,888 not 498. Check the dudes website.
No, I’m pretty sure it’s $498,888. A lot of realtors get sloppy and forget to update their sites/brochures as they reduce prices. I think it was originally $598,888. Then the craigslist posting shows it at $548,888 in the text (as does Trulia), but the heading now shows $498,888. I double-checked it on Pac Union, where it’s also listed for $498,888. Would be tough to ask $600K for this place given 94112 has a handful of other SFRs under $500K as well.
If you’re skeptical that prices are down this much in outlying parts of the city, also check out 280 De Long. Currently listed for $488,888, last sold in November of 2006 for $800,000. So a loss of $312,000 in about a year, or 39%. Currently on market for $325/sq. ft.
Actually 280 De Long is now listed at $488k. And in another month, it’ll be $468k etc. etc. until its sold.
Actually not a bad deal as long as you are OK with living in the fog, right next to 280…
I don’t think many people will be surprised to hear of weakness in District 10 but I do think the magnitude of the drops and the spread beyond Bayview into other working class neighborhoods might shock quite a few.
Could we come up with a better term than “working class” neighborhoods? This is not to be critical of the person who used the phrase, for I hear realtors use it every day and it always makes me uncomfortable. Except for outer Broadway, didn’t almost everyone have to work for where they live?
“tradionally blue collar”? Hmm, maybe that’s even worse…
From Property Shark, there was a foreclosure auction to pay off 673k in debt on 280 De Long, scheduled to have been held last Thursday, Oct. 18.
So was the 488k price an attempt to sell the house before the auction, or an attempt to establish a minimum price before the auction?
280 Delong is in Daly City, not — ahem — The City. Maybe a local resident can chime in with the price difference when crossing the city limit. I’ve been casually watching this area ever since the BART Millbrae extension, and been astonished by the run up. It’s super convenient, and has that theater complex right there.
38 Sadowa looks to be a little too convenient to the highway. Like, you are on the offramp. What is Ocean View like these days?
Pergo, ugh. Just when I calmed down from my fake muntin rant. It seems like you could make your own Pergo with a color copier, some particle board, and varathane.
One word comes to mind after looking at this listing. It starts with Fu and ends with ugly!!