SF and Daly City: FSBO Homes not Immune to Price Cuts
I’ve heard it said that people who try to sell their own homes are like those who try to represent themselves in courts of law: Each has a fool for a client.
But with all the info on the web these days on homes, real estate, comps, price reductions, blogs, records of all kinds, it seems a for-sale-by-owner seller would have plenty of solid material with which to come to a reasonable listing price for his or her home. Still, few of us could have predicted the current market, and its effects on home prices is still evolving; thus, even the most educated seller is having to come down from initial asking, especially as homes linger on the market longer and buyers get harder to find.
Here then are a crop of FSBO listings that have come down in asking since they hit the market; or, if they haven’t come down, they should, because they’ve been on the market a long, lonnnng time. You might then find that special deal, sans commission, at an already discount price.
1. 112 28th St.: 2/1 SFH home in Noe, with parking, asking $929K. After 200+ days on the market, this one is ripe for a lesser offer. Know going in that it sold in ’05 for $825,000.
2. 1 Daniel Burnham Ct.: 2/2 condo with 1 parking space, shared deck and pool (pictured).
This one is interesting because it lists for $719,000. The write up claims this price to be a $75K reduction off the unit’s “recent market valuation,” yet comps show the highest current listing in the same building (and the same size/# of beds) at $660K, and one 2/2, #609 is $599K.
3. 101 Crescent Way: This is a 2/2 Bayview Heights condo that came on the market in July of ’08 for $665K. Today it’s still available, though it offers a 2 car garage and panoramic view (you can see plenty of light in kitchen below). Currently $639K.
Daly City
1. Down 4 times since first listing in April of this year is 310 Barbara Ln (pictured below), a 2/1.5 townhouse with parking. Currently rests at $539K.
2. 30 Clearview Dr.: $699,00 may be optimistic for this 4/3 SFH with 109 DOM. Highest priced nearby listing is $640K, and, more tellingly, the highest similar sale, in July of ’08, was $605K.
