To recap: 152 Banks in Bernal Heights was purchased for $675,000 in July of 2005; sold in April of 2006 for $900,000; appears to have been bought back by the bank three weeks ago; and returned to the market two weeks ago for $749,900 (“will go fast at 750K” according to one rather bullish “anon[ymous]” commenter). Just reduced to $699,900.
As a plugged-in reader notes, “just hope no one used that silly $900K price a few years ago as a comp!”
∙ Listing: 152 Banks (3/2) – $699,900 [MLS]
∙ Bad Data In Bernal Heights Or Something Else Afoot? (152 Banks) [SocketSite]
Close to Cortland, a 3/2. This is a decent family dwelling. First house, first kid. Unfortunately this is a market that suffers today at 600+.
With less and less banks around and more of the surviving ones setting rates like 9% for Jumbos (WF Wachovia, more?), houses like these were right into Jumbo territory. They’re getting closer and closer to exiting that territory…
Wait. Wachovia is now Citigroup. Maybe they can go to Wamu. Oh, Wamu is JP-M/C/BS/WM. Man, this banking mess moves fast.
“Three blocks east of here is 45 Nebraska St. A 4 bed/2bath/2 car garage/ panoramic views languishing on the market for 58 days. List Prices has been reduced $130,000.
Listing Price History
Date Price
Jul 16, 2008 $985,888
Aug 13, 2008 $935,000
Sep 04, 2008 $855,000
Last Sale in Oct 2005 at $950,000.
http://www.redfin.com/CA/San-Francisco/45-Nebraska-St-94110/home/762874
”
45 Nebraska taken off the market? In contract?
It’s not a jumbo loan at this price…
45 Nebraska is in contract.
That house is butt ugly. Maybe that’s why it’s not selling.
snark, I think people said the same thin about 45 Nebraska and it’s now in contract. I find this quite amazing.
[Removed by Editor (let’s keep this discussion focused on 152 Banks or at least Bernal).]
Bernal Hill properties suffering? Imagine that!
It must have a disclosure list that doesn’t quit. There aren’t any photos, so you’d have to hear from someone who’s seen the place.
I spent the past couple months going to BH open houses and felt like I was in a groundhog day real estate movie. I kept seeing the same tiny houses on tiny lots that smelled bad and seemed to have almost zero potential to be anything other than the tiny 2bd/1ba they were (perhaps you could add a dungeon with a bathroom downstairs)… yet they kept going for ~ $800k.
We’ll see what happens over the next couple months, but this home’s obviously got issues beyond the market. Still sounds like no one’s actually been here =)
I want the tiny green house next door!
as of today 10/1 the status is “act. cont.”