A Number Of Notable Reductions (For One Reason Or Another)May 21, 2007
After just over a month on the market, three recent reductions caught our attention (for one reason or another):
1. 745 Detroit was reduced $105,000 (6.2%)
2. 3840 Market Street #301 was reduced $200,000 (12.1%), and
3. 20 Villa Terrace was reduced $780,010 (31.2%)
The reasons? The great (and sometimes not so great) neighborhood debate, an agent owner, and just one honkin big reduction. Yes, in that order.
∙ Listing: 745 Detroit (3/2.5) – $1,595,000 [Sotheby’s]
∙ Listing: 3840 Market Street #301 (3/2.5) – $1,450,000 [MLS]
∙ Listing: 20 Villa Terrace (4/3.5) – $1,719,990 [MLS]
∙ Not Just Cool But “Uber Cool” In Sunnyside [SocketSite]
Comments from Plugged-In Readers
There were also some notable reductions on some SOMA conversion lofts in the last couple weeks.
Clocktower lofts unit #C322: Reduced from 979k to 899k.
400 spear #115: reduced from 775k (original price) to 699k. there have been a few reductions on this one. 775k was the original asking price 60 – 70 days ago.
1097 howard # 203: reduced from 689k to 649k
31.2% HOLY CRAP!
of course this puts the price per square foot at 637.51 according to the MLS which seems likely to start a bit of a bidding war.
Smart move to generate interest and get the sale recorded as ‘over asking’.
No worries, folks.
This one’s bidding war should start any day now!
What if they started a bidding war and nobody came?
I’m not going
Anyone know who did the interiors at 745 Detroit?
“What if they started a bidding war and nobody came?”
My guess is that they would start a new and much bigger one. The market is so hot everywhere else, so they say. Why should this beautifully marketed home be any different?
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