After a “three-year total renovation,” and then 6 months on the market, the price on 2266 Vallejo has been reduced $1,775,000 (12%). Perhaps a 12% reduction is the new black across all price points…
∙ Listing: 2266 Vallejo (6/7.5) – $12,975,000 [Coldwell Banker] [MLS]
∙ Price Reductions At 188 King [SocketSite]
Comments from Plugged-In Readers
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Oh give me a break. $2000 per square foot? What planet does this developer think he’s living on.
The property description states the square footage both as 7000 and 8500. Which is it?
Still over priced. Call me at 7.95M
I get giddy when i see these listings. You’ll see people scream the market is crashing b/c of this big reduction. I get excited when I see a $1,625/sqft price tag for a house with no panoramic views and say wow… has the high end really climbed another 50% this year?
It’s so fun to fool renters 🙂
woza, has this house sold? No.
the buyer of this property is ultra rich people and not your average renter anyway.
I think this house has a better chance of selling after bonus season (December). This year has been huge for investment banking, lawyers, and management consultants. We’re talking 27-30 year olds with 200-500K bonuses. Imagine what the typical 40 year old couple is making!
yeah that 200K bonus is really gonna help pay for this 13M house…maybe a few months’ worth of property tax and maintenance.
Wowza – it’s quite clear you don’t have a clue what most professionals earn. According to Salary.com: The median expected total cash compensation (base + bonus) for a lawyer with 5-8 years of experience in San Francisco is $186,410; for a typical M&A Manager with 7+ years of experience it’s $193,572; and for consultants it’s about the same.
wowza — my wife and I are both lawyers at two of the highest-paying and most profitable firms in SF. We’re DINKs. There is no way we could afford that house. Only the most senior partners at my firm could realistically consider purchasing it at that price.
And there aren’t that many bankers who are looking in that price range either.
It was, clearly, a naive comment that is eliciting the appropriate responses.
ed. Do you have an update on this property? I don’t see it on MLS and can’t seem to find any details on what may have become of it?