Lake District Sales See Both Ends of Spectrum

Lake District Sales See Both Ends of Spectrum

The Lake neighborhood saw its share of rollercoaster sales prices in October. But that’s not surprising, as such activity exemplifies the mixed-bag nature of the San Francisco market these days.

The 4BR/2.5BA single-family home at 166 19th Avenue (above) came on the market as an REO property listed at $1.2M. This was a remodeled, 2464-square foot home one door down from the Richmond playground between California and Lake. The property was sold in four days for $1,255,000. Who says no one’s paying more than the asking price these days? Set a price low enough to attract interest—as banks are known to do—and you can move a house very quickly.

The other extreme sale took place at 181 8th Avenue:

Initially listed at $2,195,000 in March 2010, the 4BR/3.5BA home had 3464 square feet, a legal 1BR apartment, and a carriage house at the rear of the lot. 8th Avenue closed escrow in mid October for $1,725,000 after a series of price reductions. (The house has had its share of turnover in the past several years, selling in March 2005 for $1,950,000, and then again in May 2008 for $2,215,000.)

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Eileen Bermingham

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