Having been completely restored and remodeled to yield “unparalleled luxury and refinement,” the nearly 6,900-square-foot, six-bedroom Pacific Heights home with multiple living, dining and outdoor spaces; a guest suite, sauna and home theater; and a two-car garage at 3149 Washington Street hit the market listed for $9.95 million in June of 2017 and sold for $9.7 million that July.

Returned to the market priced at $11.25 million two months ago, the list price for 3149 Washington, which remains on the market, was reduced to $10.4 million three weeks ago, a sale at which would now represent total appreciation of just 7.2 percent over the past five years for the luxury home, or a little over 1 percent per year, while the widely misreported index for “San Francisco” home values, which is rapidly dropping, is up nearly 50 percent over the same period of time.

On this traditional day of thanks, here’s to hoping your homes are warm, your pantries aren’t bare, and your tables are surrounded with family and friends. Safe travels if you are, we’ll see you next week.

9 thoughts on “Food for Thought 2022”
    1. Won’t pretend to “know the market” in Pacific Heights, but am assuming that the sellers know what they have, and they aren’t going to just give it away. Your guess would represent a 27.9% under asking price, which is highly unlikely outside of a distressed sale.

Leave a Reply

Your email address will not be published. Required fields are marked *