February 26, 2008
Doin’ the Limbo: How Low Will It Go?
I think that today’s Daily Stat Leader has set a new record for the most price reductions in the shortest amount of time. 1404 Emeric Avenue in San Pablo started out on the market on October 15th of 2007 at $299,000. Now, just 4 months later, it has gone through 1 2 3 4 5 6 7, no 8, price reductions and now sits at $129,000. (To save you from hunting down the calculator, that is a 57% price reduction, the biggest we’ve seen.) Last purchased in 2003 for $258,000, it must be a foreclosure or short sale. It’s not the cheapest house in the neighborhood, but almost.
The house sits of a 3,375 square foot lot, which is below standard but typical for the neighborhood. Also on the small side is the square footage of the house—823—although again, this is typical of the area. What is not so typical is the color scheme. The home is painted a creamy white with turquoise trim, including the columns on the porch, and…get this…the grout in between the brick fence that surrounds the front yard. Definitely a bad combo. I’m wondering if this got so many hits because it was the butt of a joke on some blog somewhere? Academy Award winner for Most Hideous Paint?
Recent Sweet Digs Posts:
Walk the Length of Your Closet — It Counts As Aerobics, Apparently
It’s a Small World at Hamilton
Realtor vs. realtor vs. agent
Kim said:
Hi Susan,
Nice reductions :-),
Here is a couple of good reductions from my Berkeley Crash blog:
734 Cragmont Ave. Berkeley, CA 94708
September 07: $1,200,000
Price reduced September 07: $1,150,000
Price reduced October 07: $1,095,000
Price reduced October 07: $1,070,000
Price reduced November 07: $1,050,000
Sold December 07: $1,015,000
1249 Bancroft Way, Berkeley, CA 94702
Price reduced September 07: $699,000
Price reduced September 07: $639,900
Price reduced December 07: $599,900
Price reduced February 08: $549,900
1429 Harmon St Berkeley, CA 94702
September 07: $534,900
Price reduced October 07: $526,900
Price reduced December 07: $510,900
Price reduced January 08: $465,900
Price reduced February 08: $458,900
Kim
February 26, 2008 2:20 PM
Kim said:
And this just in:
Another reduction in Berkeley at 110 Brookside Drive Berkeley, CA 94705 to $949,000:
November 07: $1,095,000
Price reduced January 08: $995,000
Price reduced February 08: $975,000
Price reduced February 08: $949,000
That’s $146,000 of since it came on the market i November. How low will it go?
Kim
February 26, 2008 4:26 PM
Good Detective Work, Watson | Redfin San Francisco Sweet Digs said:
[…] you are. Lately you’ve been finding the homes that have the biggest reductions, like the home I wrote about on Tuesday in San Pablo, which had endured 8 reductions for a total of 57%. Today’s home atop the Daily […]
February 28, 2008 9:04 AM