And some newly built houses burn to the ground.

Sometimes it’s not about the almighty power winninfg … but it’s about being content with what one has – and being successful at avoiding disaster.

They were ultimately successful in getting a home, and are happy living where they are. However, they are not happy about the reduction in the value.

Per Property Shark, 636 Steiner closed for $975k on 8/20/2007. Per Zillow, the Zestimate for 636 Steiner as of today (8/25/09) is $825k.

I’m thinking that your clients really did dodge a bullet here, and I’m curious: Were they ultimately “successful” in completing a transaction in 2007 or did they continue to be lucky though 2007 and be outbid?

We bought the ~330th property we visited (open houses over 7 months – nearly all of them seriously targeted) – and we visited 20 more properties while waiting to close – just in case we wouldnt close (very strange sellers).

I would do it all over again. We set a foot in our house and at the second – we KNEW it was the right one. And yes, it needed some serious cosmetic – something very easy to do compared to adding a 1000sqft extention (needed in many houses we visited). We got it – and we were the ONLY offer – something totaly unexpected considering the war that went on about a very similar close-by property the same week. WHO KNOWS????

Anyway. Dont give up. Alex is a great agent – knows the city very well and I believe he’s appreciated and respected by most good agents in the city – your wild card if needed.

We thought for all of your trouble you went through listing those properties above, we’d post your comment on the front page as it’s own post for any of those that would like to discuss it with more people than are just following this thread, which should remain about 636 Steiner, if possible. Thanks.

There are so many people who have hand outs from mom and dad or grandma. There are 30 yr olds, yes 30 yr olds who still get help from Mom & Dad to buy in SF, and kids who live at home with grandma with no shame. This is the competition for buyers out there.. not a normal $300k/yr couples but 300k/yr + help from mom & dad.

The 23 yr old kids making $115,000 will go on to make $300,000 by the time they are 30, pretty much guaranteed.

Quality of life is all about, and if renters can pay my mortgage and then some, and if my assets continue to rise while my debt gets inflated away, i’m all for it!

Take a look at 2255 Washington St. for $1.498 mil. Open house was crazy today. Square footage? Not even 1,200sqft with no view. Bt this sells for asking within 3 weeks. Lower unit condo too.

I’m so impressed with someone age 23 just out of school making $115 k.

And I’m more impressed with the “kids” on Boomtimes block who live at home in their mid-20s with granny..Wow..these are the future leaders of our country.

Yea, right..

John, I’m so glad I bought in the ‘peak’ of 1998, 2002, 2003, and 2005. And I’m so glad i’m buying again at the peak in 2007. Donno how old you are, or how your finances are, but i’m doing just fine thank you. I just feel so sorry for so many people who had the means to buy in 1997,98,99,00,01,02,03,04,05,06,07 and who’ve watch asset prices run away from them. Look at [some other real estate bloggers]. [One is] an ex-investment banker who could have bought over the past 10 years. He’s 38 now and developed a blog to help cope. All is good, but I wouldn’t want to be him.

[Editor's note: We're trying not to point fingers, so we edited the name. Keep that in mind for the future.]