188 Minna #33D (St. Regis) in contract (~$3.7M) after one week…are you kidding me!?

[Update: As of 6/13/2008 at 8pm, it is again available. The buyers in contract pulled out, my buyer has had a change of heart feeling SoMa is a bit "dead", so we won't be writing an offer at this time, and now we wait to see what happens.]

I can’t believe what I’m writing. Months ago I tried to tell all of you and some clients about some pocket listings (off market deals) at the St. Regis.

stregisdrive

After playing phone tag a few times and finally getting a commitment from some clients to fly out and see unit 33D a 2 bed, 2.5 bath ~1800 sqft condo at the wonderful St. Regis, asking $3,695,000, I find out today it is in contract! (I find out after practically pleading for them not to ratify and give my clients a look.)

Are you kidding me! Why am I so upset? Because, in every other world class market in the world, when you have some clients that are ready to plunk down close to $4,000,000 it’s not much of a problem to find them a suitable home (forget personal tastes, we’re talking availability). When you live in San Francisco, it’s not so easy.

I’m disappointed, and of course had you been watching my new morphine habit (Twitter) you’d already know this. Silver lining…I know of more pocket listings at the St. Regis, so I’ll live to fight another day.

10 thoughts on “188 Minna #33D (St. Regis) in contract (~$3.7M) after one week…are you kidding me!?”

  1. Pocket listings suck. I’m surprised you’re willingly playing this game and even more surprised that you’re complaining about it.

  2. What’s the hoa on this place, and if u could provide us with the buyer profile of a $3.7mil 2/2.5, that would be very interesting.

    thnx!

  3. sb,

    Pocket listings do not suck. They suck for those that don’t know about them. I know about a lot of them, but not even close to all. They’re great if everyone involved is happy.

    4yoR,

    HOA I believe is around $2300. Buyer…mid 40’s, single, CEO type.

  4. there is at least one nanomarket in the city which has been exclusively off market.

    I used to be mad at “them”. now I’m like “to bad for them, they loose a lot agents and sellers and buyers”

  5. I guess you like information cliques and cowboy sales. That’s fine. So explain please, why are you complaining? This is how the (lack of) process works. Why the rant?

  6. Seems like that could be the new focus of TFS. Showcase pocket listings. Drive traffic and show potential clients that you are “in the know”. I guess maybe that might not work since there is some sort of reason that these listings prefer to be “pocket” listings. Would anyone else like to comment? Do sellers that go the “pocket” route be adverse to a showcase on a non-mls site such as TFS?

  7. @sb,

    The rant is because I knew about that unit, prompted the other agent to actually “secure” it, didn’t expect them to put it “on the market”, and couldn’t get my client out here fast enough…apparently. Because the market is so in the toilet and all. That’s what I’m sayin’.

    @yohan,

    I’m going to re-write MLS. It’s broken and needs an over-haul. Know any good techies?

  8. Looks like this unit is available again.

    [Editor's note: Yes it is, and my clients have had a change of heart. It's a sweet unit!]

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