The short sale of the single-family home at 4019 Mission has closed escrow with a reported contact price of $569,000. With a list price which was reduced to $549,000 in January (down from $650,000 in December), it’s officially “over asking” according to industry stats and good news to those who consider that synonymous with market hotness.
At the same time, the over asking sale of 4019 Mission in 2011 is 34 percent ($296,000) under its $865,000 sale in 2006 and 5 percent ($30,000) under its $599,000 sale in 2002.
In terms of 4019 Mission’s excellent location (per its listings), it’s still technically Bernal and hasn’t changed too much over the past ten years.
∙ 4019 Mission Comes Up Short Versus Its 2006 Sale [SocketSite]
So much for the last decade.
Ouch. Did these sellers get hosed or what?
$865k on mission st in nowhere neighborhood? Even in 2006, someone must have been smoking crack.
Ouch. Did these sellers get hosed or what?
Or what. It was a short sale. The banks and, in turn, the tax payers got hosed.
So far taxpayers have only picked up a fraction of the bill for all this mess which is why we have Japanese style balance sheet downturn while wounded institutions put their effort into paying down debt instead of improving or expanding business.