As we wrote in May:
Purchased for $510,000 in September 2005 and then flipped five months later for $631,000 (“Buy, sell, repeat, retire!”), 622 Gates Street was taken back by the bank in September 2008. The Bernal Heights home is back on the market and asking $428,900.
The sale of 622 Gates Street closed escrow yesterday with a reported contract price of $404,900, only 6% under asking but 36% under its previous comp setting price in 2006.
In somewhat related news, a plugged-in reader reports the lot value 533 Laidley in Glen Park “[s]old and closed in 16 days for $300,000 all cash” (40% under asking).
∙ Bank Owned And Back On The Market On The South Slope Of Bernal [SocketSite]
∙ Telling It Like It Is For 533 Laidley [SocketSite]
Comments from Plugged-In Readers
fish flipping on beach
summer winds suck the tide out
something big comes next
milkshake of despair
can count to five and seven
haiyu must be proud
or was it haiku?
There once was a site name of socket
which tracked the up and down rocket,
through comments oft snide,
flippers to deride
who ended with nothing in pocket.
(Sorry, I am haiku’d out.)
looks like an earthquake shack
call me a meathead
bernal is dead meat summer
blue bird flower sky
The Laidley purchaser must be stoked! Great location.
I think SocketSite is using the MLS people to maintain their commenting system.
Bernal continues to sell for peak prices all the time.
Comments are closed.