SF: Prices Going Down All Over Town
Hurray for recession! Okay, sorry, I don’t mean that. But I do like to see prices go down, mainly because prices here are ridiculous. I realize price reductions are less thrilling for sellers than buyers, so I dedicate this blog to buyers alone. Enjoy!
This one comes from San Francisco Schtuff, interesting A) because it is a $450K cut, and B) because it is in a swank area.
- 1170 Sacramento St., Penthouse B: a 3/2 penthouse down from $4,900,00 to $4,450,000.
In South Beach, we have almost 100K reduction at 88 King St., 101. This is a 2/3 condo down now to $899K.
In the Central Richmond at 1928 Clement, #1 is a 3/2 which has been reduced twice since it went on the market in June, landing now at $918K.
In the Haight, this pretty 2/1 flat at 658 Cole St. is down to $729K.
Even Noe is not immune: here is a 2/2 condo at 484 Alvarado St., down now to $899K.
Finally, over in Potrero Hill, this 3/2 SFH is now down to $1,049,000, after is third reduction. 507 Rhode Island St.
Want more? There are tons! Just do a search at Redfin for homes on the market over 45 days- most of them have been reduced once, if not twice. Sucks for the seller, but sweet for the buyer!
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Photo credit: Gizmodo.com
Smart said:
Especially like the prices going down in Monterey! It is about time! Things were way over priced down there! Especially for what one actually got for those prices.
August 21, 2008 10:43 AM
anna said:
Yes, I have been watching that decline with interest too as my dad lives out there and he has never been able to afford to buy. Maybe he’ll get his chance!
August 21, 2008 11:02 AM
Maggie said:
You know, I am a Real Estate Agent in the SF Bay Area and am all for my clients and friends and family getting a deal on Real Estate but there’s something really strange about all of this stuff posted all over RedFin. The facts are the facts of the Real Estate market, yes…BUT – ALL of the focus on price reductions, cash back to buyers, prices coming down, etc…You people are just perpetuating the market’s stall in a few areas and dont realize that if you’re a buyer, you’re just hurting the chances of a great return on your investment once you’re a homeowner…
August 28, 2008 2:06 PM
Anna said:
Hi Maggie: I can appreciate your perspective. As a buyer and a blogger though, my interest is very much in reduced prices, as those are the only sort I can ever afford. Many of my readers are similar.
And, since the data are true, I am really just reporting that truth…
September 2, 2008 9:26 PM
Mark said:
Haha- if anyone is to blame for the problems in the market, it’s agents and brokers who pushed people into homes they cannot afford.
September 3, 2008 3:11 PM
Anna said:
Definitely an arguable point, Mark
September 3, 2008 6:52 PM
Woo Woo said:
The prices in Monterey are still going down…a house lets say in the north end of monterey you know in the small portion that actually gets sun were approx over $500K last month on Zillow (which by the way everyone follows now) and now if you look they are mid $400K which is probably still too high for 2 beds 2 baths no view no garage really no yard!!! my buyers are waiting and if they still don’t go down they will go elsewhere like Florida where you can get your money’s worth and make $$$ later! Not a bad market afterall..ta ta!
October 21, 2008 7:52 AM