A Rather Suite Comstock Apple Is PickedFebruary 1, 2012
As we wrote about 1333 Jones #705 this past September:
The master suite within #705 at the Comstock (1333 Jones) sports a big San Francisco view, a designer bath (or at least shower), and a rather master worthy closet.
Unfortunately the guest bath didn’t get the same designer makeover as the rest of the unit. But if you were our guest, we’d say help yourself to a few of the 300 bottles in the built-in cooler and spend your time soaking up… the views.
Purchased for $2,400,000 in September 2007, the Comstock two-bedroom is back on the market listed for $2,349,000 four years later. As plugged-in people know, the unit two floors below sold for $2,000,000 in 2010 but wasn’t nearly as well “designed.”
The sale of 1333 Jones #705 closed escrow yesterday with a reported contract price of $2,269,000, down 5.5 percent ($131,000) on an apples-to-apples basis versus 2007.
Comments from Plugged-In Readers
We gave our cats fluffy sheepskins for Christmas gifts last year, so this dining table arrangement would be a bad idea for our home.
Wherever you see a sheepskin placed in a room in our home is THEIR TERRITORY.
Ouch, only 5.5% down for a condo bought at the peak of the bubble in the worst real estate bear market of our lifetimes. Sorry, bears. I know this is a great disappointment but it is good news to those of us who save and invest.
Now there’s always some guy who will invent some numbers showing that the seller’s pain is actually much greater. But imagine, if this is as bad as it gets, how much money investors who take the risk to buy are making when prices rise.
unwarrantedinlaw – How do you figure that this is as bad as it gets? If anything this is a case of a fairly good result and an evidence that the editor is trying to inform on the range of outcomes rather than cherry picking to support a bias.
A quarter million dollars (with selling costs) flushed away in 4 1/2 years. And I agree that is very “good news” for the seller, relatively speaking. Silly ol’ bears.
wow UWIL, talk about selection bias and rose colored glasses. . . But frankly I think both the bulls and bears on the site are guilty of this. I’ve thought for a while that the next five years could be grey and boring. Sideways/lower with nothing dramatic. Do I know what’s going to happen? Of course not– but the strong opinions on here are always people on one extreme or the other. We could easily get a sideways/slightly leaking market where the bears will have a lot of apples to point to and the bulls will say none are in the real SF or find one like this and say the loss isn’t that bad . . .
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