From the October listing for 1357 9th Avenue #2:
Auctioned to highest bidder…Starting Bid is $288,000…Fantastic location in the heart of Inner Sunset a few steps to restaurants, cafes, shops, BART and more…Nice renovated 1 bedroom TIC in 6 unit bld…One garage space included.
From the MLS: closed escrow on 1/19/09 with a reported contract price of $278,000. So much for that starting bid (and expectations for an old fashioned bidding war).
∙ Up For Auction With No Reserve! (But A Starting Bid Of $288,000) [SocketSite]
Wow, even the bears got this one wrong!
eddy,
Not completely. It was a dutch auction after all, but my 250K bid was too aggressive.
BART in the inner sunset? That would be cool
These days I’m shocked whenever anything sells, regardless of price.
Wow. This is a testament to just how much leverage the buyers have in this market. I’m starting to think it would be foolish to offer anything above 20% under asking for any property in town right about now.
Jason,
Good point. I remember low ball offers were deemed insulting at these levels just a few months ago. Today the market is a different animal.
Holy @#$%*&!
as I said the last time this property came up, I used to live just 1-2 doors down from here. This is in a great neighborhood but on a VERY busy street with the N-Judah running right in front of the building. Loud loud loud. parking is grim but not horrific.
most of the people are UCSF related… and UCSF doesn’t pay very well. The students and residents are basically strapped for cash.
so i’m not surprised that this went for so low, especially if it’s in the front of the building (I never figured that out)
Good to know that they consider 2+ miles a “few steps” re BART. Ah, but N-Judah is “basically” BART…
The bears all settled on a very narrow price range of $288-289 and it sold for about 3.5% less than our estimate.
I’d say the bears have a better grasp of what is happening in the marketplace than some of the so called real estate professionals who claim to live the market every day.
“Ah, but N-Judah is “basically” BART…”
LOL. And having a bike is “basically” the equivalent of owning a car!
TIC’s don’t count. They aren’t real homes