Even if the market has cooled, and properties are seeing price reductions, they are still selling. There is a technique to employ that usually leads to the same outcome: Reduce, and Sell, and we might add, don’t panic.
Case in point, 411 Banks, a two bed, one bath, 1600 square foot single family home in Bernal Heights, listed in May at $750,000, price reduced and relisted in September at $699,000 and now on track to becoming a done deal during the holiday doldrums. From what we can tell it spent ~160 days on the market. The last recorded sale on MLS was in 1997 at $165,000.
What’s your favorite? The pink, the picket, or the 1997 price?
I saw the inside of the house and the pink exterior is wonderful compared to what you’ll find inside. The place is a dump and not just any ole’ dump but one with terrible floor plan that will cost booka bucks to redo. Just like they say “there is someone for everyone” the same goes with RE.
Update: this place is sold. 679 was the selling price, I believe.