As we wrote about 330 Banks up in Bernal back in January 2008:
On the market without finding a buyer at $649,000 last fall, 330 Banks is back on the market (but not the MLS) with a list price of $599,000.
Included in the sale are approved plans to add an additional “art studio” and half-bath on first floor. And while it’s usually “showings by appointment only,” it will be open this Sunday (1/27) for just one half-hour (from 2:00 to 2:30) if you want to take a peek.
Keep in mind that this single-family Bernal Heights home was purchased two and one-half years ago for $700,000 (on 6/8/2005). And yes, the sale at $700,000 was likely used as a local comp a couple of years ago. And so on. And so forth.
And as we added this past February:
This past June the bank foreclosed with $558,053 owned on its first (the 2005 sale was financed with a first for $544,000 and a second for $57,500) and the little Bernal home returned to the market asking $534,900 in September before being withdrawn from the market in December…
Re- listed for $499,900, the re-sale of 330 Banks has now closed escrow with a reported contract price of $450,000, 35 percent ($250,000) below its year 2005 price.