Good Homes Still Moving
December 21, 2008We’re aware that the title of the post makes us sound like market cheerleaders, but we assure you, we’re not. We value the truth over everything, and we’re not afraid to tell it how it is. There is no reason to cheerlead when opportunities abound in any market condition. Besides, it’s just plain old corny.
However, it is great to know that one of our theories about the market seems to be holding up, and that theory is:
San Francisco’s desirable homes continue to sell near or above their asking prices, and values are continuing to drop for the homes that nobody wants.
Case in point, a sale that just closed yesterday (December 20th) at 4036 26th Street in Noe Valley. This single family home hit the market during the extremely turbulent month of October and was on the market for just over a month before it went into contract and closed escrow within 41 days. The 4 bedroom, 2 bath Victorian measuring ~2,021 square feet was originally offered at $1,398,000 and ended up selling for $1,365,000, which is 97.64% of asking. Check out the pics:
4036 26th Street
4036 26th Street
For more pictures and info, continue reading –>
4036 26th Street
4036 26th Street
4036 26th Street
4036 26th Street
4036 26th Street
The lesson here: Even if I had to compete for it, I’d rather invest in a home that everyone will want when I go to sell in the future, rather than buy a home nobody will want for today’s deep discount.
