CFAH

The sale of 1438 Filbert #402 closed escrow yesterday with a reported contract price of $532,500. Call it 17 percent below its year 2004 price ($640,000) or 15 percent below its year 2001 price ($630,000) for the top floor one-bedroom condo on Filbert off Polk.
Ten Of Thirty-Nine Already Owned By The Bank (And Eight Just Short) [SocketSite]
SF Listed Sales Volume Up 1.5% In Feb As Medians Continue To Fall [SocketSite]

Comments from Plugged-In Readers

  1. Posted by Rillion

    Interesting to see that there was just 1.6% appreciation (or about .5% annual) between the 2001 sale and the 2004 sale.

  2. Posted by kathleen

    high density multi family
    housing does not hold value

  3. Posted by lyqwyd

    right… that’s gotta be it, couldn’t possibly have anything to do with the market.

  4. Posted by A.T.

    kathleen was not entirely wrong; she just put a realtor spin on things and did not tell the wh0ole story. Let’s look at a couple of yesterday’s closings.
    Exhibit A:
    http://www.redfin.com/CA/San-Francisco/402-8th-Ave-94118/unit-19/home/1110304
    1989 $335,500
    2002 $550,000
    2005 $680,000
    2011 $565,000
    2005: “Wow, high density multi family housing really holds its value and appreciates nicely!”
    2011: “high density multi family housing does not hold value”
    Exhibit B:
    http://www.redfin.com/CA/San-Francisco/1489-23rd-Ave-94122/home/1684905
    1993 $245,000
    March 2005 $800,000
    June 2005 $950,000
    2011 $735,000
    2005: “Wow, single family housing really holds its value and appreciates nicely!”
    2011: “single family housing does not hold value”

  5. Posted by [anon.ed]

    You posters are so ridiculous. Stop acting as if everyone has to present a thesis exploring a subject in depth every single time. They made a couple of nuanced comments that fit just fine within the editor’s celebrated “Cheer the market down” meme. Stop falling all over yourselves to insert snark and idiotic paraphrasing that your navel told you was funny. It’s easy enough to snark it up when the moment is right.

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