The sale of 571 Bright closed escrow this past Friday with a reported contract price of $558,000. At the time the two-bedroom home hit the market five months ago there were 20 single-family homes listed in District 3 for under $600,000, today 27 are active and available with another 7 in contract.
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∙ San Francisco Association Of Realtors New Neighborhood Map [SocketSite]
I don’t know what the seller’s financial situation or existing mortgage was, but unless they had an extreme set of circumstances, I think they came out of this okay; only 3.6% under asking.
I viewed this property, which needed a reasonable amount of pest removal and you could clearly hear 280 from the living room. I would think that hearing the Detroit river from one’s living room would justify more than 3.8% under ask.
When I was growing up two blocks from the Detroit River I used to fall asleep listening to the foghorn of the Lake Erie Lighthouse and the calls of the lakers (Great Lakes freighters uo to 1000′ long) as they navigated the channel. Eye of the beholder and all that.
“you could clearly hear 280 from the living room” Really? You’re almost 3/4 of a mile from 280 here..
What kind of pests?
Still holding out for one under 5 (4?).
“pride of ownership”
It sounds like they did fine here, but it’s probably largely because they owned this place for 34 years and didn’t deal with bubbles. No idea what their financial situation was, but this house is nothing special and would be at home in Daly City with all the Doelgers. I wouldn’t have expected a premium price.
Thanks to Prop 13, their tax value was $65,808 in 2009, and they only paid $918 in property tax that year.
“…you could clearly hear 280 from the living room.”
Really? I checked Google maps and this place is 7 blocks away from the 280. Any traffic noise would be fairly muted.