As we wrote this past September:
Having failed to be awarded in the third annual San Francisco Dream House Raffle, the “$2.8 million” dream house at 65 Mountain Spring Road has returned to the market listed for $2,675,000. As we first reported at the time of the raffle:
Listed for sale at $3,950,000 [by the agent owners in June of 2010], the list price for 65 Mountain Spring was reduced five times over the next four months before being withdrawn from the MLS [that December] last asking $2,775,000 for the 4,139 square foot (per its old listing) four-bedroom home.
Having been reduced to $2,495,000 shortly thereafter, the sale of 65 Mountain Spring Avenue finally closed escrow on 12/29/2011 with a reported contract price of $2,360,000.
∙ A Regularly Recurring Dream [SocketSite]
∙ San Francisco Dreaming At 65 Mountain Spring Avenue [SocketSite]
∙ The “$2.8 Million Dream Home” On Mountain Spring Drops To $2.5M [SocketSite]
Nice TV tower looming over backyard.
In the mean time places much lower down that slope are selling in the $800s/sf or more. The big difference is access (for instance the core of the City as well as the 280). People want to be able to drive, not be forced to drive.
2820 Union street with bay views and on one of the best blocks in the city just closed for $874 psft.
If places around Mountain Spring are selling for $800+ psft, all I can say is:
not
for
long.
http://www.redfin.com/CA/San-Francisco/2820-Union-St-94123/home/1931378
tipster,
“much lower down that slope”, like say, Noe Valley or Eureka Valley.
All this area up the hill is nice but there’s a lifestyle choice of having to drive on weekdays for almost everything you need to do. It’s a paradox for an area that is pretty close to the center of gravity of SF: it’s not central enough.
What an ugly garage door. And looks like the beam is sagging.