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The two condos over at 1 Baker have been battling it out for the last few months in search of buyers.
Big news: #4A landed in contract at the end of April. Its last list price was $679,000 for this 2BR/2BA unit with about 1337 square feet. Is there a buyer for #3B out there (photo above)? That list price was just reduced to $675,000. Not sure what the hold up is; this is a nice Haight location right off Buena Vista Park, identical in the number of bedrooms, bath and square footage.
A good indication of market health is the number of properties sellers withdraw after the reality sinks in that buyers are not interested.
Sellers withdrew a total of 235 single-family homes, 331 condos, and 184 TIC interests from the market, from January-April 2009. Those are big numbers. Yes, times have certainly changed: Only 96 houses, 72 condos, and 87 TICs were withdrawn in the same time period in 2005.
Stay tuned: I’m sure many of these properties will appear on the market again over the next year, adding to the already heavy San Francisco inventory.
Fresh out of rehab and on the market for $1,495,000, 1990 Funston is a 5BR/3BA home on a corner lot in the Golden Gate Heights neighborhood.
I’m into the kitchen, and this bathroom:
The current owners remodeled the kitchen, bathrooms, and added a bedroom, bath, and family room, among other things. Looks like the property was transferred for $1,020,000 in May 2008. Will Funston fly off the shelf? Depends on how many buyers out there have the purchase power and willingness to live in a somewhat remote area with unfavorable weather.
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