Speaking of bank-owned listed inventory in San Francisco, the three latest bank-owned listings in San Francisco are: 1998 Broadway #702 in Pacific Heights (purchased for $198,000 in 1996), 520 Chestnut Street #404 in North Beach (purchased for $904,000 in 2007), and 166 19th Avenue in the Lake District (purchased for $1,300,000 in 2005).
Bank-owned listings have just about doubled over the past year in San Francisco.
∙ Listing: 1998 Broadway #702 (1/1) 700 sqft – $599,000 [MLS]
∙ Listing: 520 Chestnut Street #404 (2/2) 1,018 sqft – $725,000 [MLS]
∙ Listing: 166 19th Avenue (4/3) 2,464 sqft – $1,199,800 [MLS]
∙ SocketSite’s San Francisco Listed Housing Inventory: 8/16/10 [SocketSite]
1/1 in Broadway Towers purchased for $198k in 1996? That seems cheap even for the good old days.
“1/1 in Broadway Towers purchased for $198k in 1996? That seems cheap even for the good old days.”
And if it wasn’t for the Federal Reserve idiots and speculator/flipper d**chebags I cold actually afford this unit.
1998 Broadway #905 is a 700 sq.ft. 1 bedroom/1 bath unit, refinanced in 2005 for $750,000 and again in 2008 for $1,500,000!
The highest reported sales price in the building happened in 2007 — two units each sold for $1,310,000. Both of them were 3 bedroom/2.5 bath and almost 1,400 sq.ft.
Happy in SF wrote:
> 1/1 in Broadway Towers purchased for
> $198k in 1996? That seems cheap even
> for the good old days.
High HOA dues (currently $755/month) kept the sale prices low on many Pacific Heights condos in the mid 90’s. I graduated from business school in 1995 and quite a few of my classmates bought condos in Pacific Heights for around $200K and all had high HOA fees.
My first job out of Business School was in the South Bay and I did not want to drive from the city every day so I paid $360K for my nice 4 br home in Burlingame, but there were many smaller Burlingame homes for sale back in ’96 for under $300K.
“I graduated from business school in 1995 and quite a few of my classmates bought condos in Pacific Heights for around $200K and all had high HOA fees.”
So we have gone from college grads being able to afford condos in Pac Heights to this…
“so I paid $360K for my nice 4 br home in Burlingame”
If only that were possible now, even adjusted for inflation. That’d be right around $500K.
I hope that all of the North Beach real estate flipper dirtbags lose all of their money and head back to the peninsula or the midwest or wherever they came from. They have in large part ruined the neighborhood, bringing in moneygrubbers with glazed eyes and rapacious attitudes. Maybe we will luck out and they will hang themselves in frustration over losing their “wealth.”
Now that is schadenfreude.