1581 Masonic

As we first reported last July:

“…the sale of the ex-Mayor’s ex-home at 1581 Masonic closed escrow today with a reported contract price $2,750,000. As plugged-in people know, the Newsoms purchased the property $2,738,000 in 2009.

That’s an official six days between being listed and having sold “at asking” according to industry stats. No official word on whether or not the buyer had already been lined up prior to being listed, however, as the property had been quietly marketed off the MLS.”

And as a tipster notes today, the Buena Vista Park home at 1581 Masonic has just returned to the market listed for $2,895,000.

15 thoughts on “Another Quick Flip For Our Ex-Mayor’s Ex-Home On Masonic?”
  1. The $145,000 “profit” is 5% of list, or just enough to cover the agents’ commissions and come out even (not factoring taxes, insurance, headache of moving). . .
    2,895,000 – 2,750,000 = $145,000
    145,000 / 2,895,000 = 5%

  2. And they will probably get asking on this as the market is definitely improved over a year ago. God knows why they are selling after being there less than 1 year.

  3. As a former pseudo-neighbor and now a pseudo-pseudo-pseudo-neighbor, I will say the neighborhood is lovely.

  4. Looks like I missed this going right back into Escrow on June 25th. And now it is -Firm.
    So we should have a pretty good 2009 to 2011 to 2012. And of course there is the Apple at 45 Lake for a nice 2010 to 2012 comp as well. Good pickings.

  5. Sold. Another “UP” Apple.
    2012: $2,895,000
    2011: $2,750,000
    2009: $2,738,000
    Take this with the 45 Lake Street Apple that shows a 2010 – 2012 increase.
    Interesting trends. When was the bottom again?

  6. definitely a better than average performance.
    Nominal price increase since 2009 -> 5.7%.
    Inflation since 2009 -> 6.7%.
    Boy, even the few great results since the “bottom” have left the owners worse off!

  7. yes, inflation is “real” which is why one uses the term “real cost” to account for inflation. This place just sold for below its 2009 price in real dollars.

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