Symphony Towers Price Slashing Success

From the press release and maybe a little proof (if you want to call it that) of the “it’s a great time to buy” mantra:

For Symphony Towers, high-rise condos in the heart of San Francisco at 750 Van Ness Avenue, smashing prices equaled a smashing success as their Turk Tower closeout sale netted a whopping 18 contracts [out of 20 available. Nearly 1000 inquiries (Web site or at sales center) in the 3 weeks of the promotion.]

During the sales event the weekend of Nov.14-16 and Symphony Towers dropped prices more than $100,000 on studios and one-bedrooms — and the public responded. Hundreds of condo shoppers visited the sales center a few weeks prior to, and including, the closeout weekend, attracted in part by the “market correction” that potential buyers have been waiting patiently for, and perhaps, even expecting.

“The success of this promotion proves there are buyers out there; many just looking for an extra reason to jump off the fence and purchase a new home,” said Kim Cole, vice president of sales for Pacific Marketing Associates, the local firm in charge of sales and marketing for Symphony Towers. “This developer cut to the chase and offered firm reductions that simply couldn’t be ignored.

“Couple that with some post-election optimism and a great product in the heart of the City, it’s no wonder these homes were so quickly snapped up,” she added.

With the promotion, studio homes at Symphony Towers started at $295,000 — virtually unheard of for new construction in San Francisco, and likely the most significant price reduction yet by any development in the City. Comparable options that inexpensive were previously only found in the East Bay. Moreover, since Symphony Towers was already about 70 percent sold and occupied, buyers discovered that loans were easier to get.

Only two homes remain in the Symphony Towers’ nine-story Turk tower, with about 30 remaining in the taller Van Ness tower.

Don’t ask for details, because we don’t know them. Just getting info to you with GodSpeed (means don’t shoot the messenger). And no, so far nobody has come forward for their 50% rebate.

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