We almost can’t keep up with some of the brisk sales we’re seeing. 3130 Pacific is “pending”, after 7 days in MLS. Remember 3100 Pacific (next door), the $15,000,000 home that never made it to MLS, received two offers and is sold.
A quick explanation of “pending”. In MLS, and real estate in general, there are four steps to tracking the sale with MLS data. First a property is “active”, meaning on the market and very much for sale. Then, if/when an offer is accepted and there are contingencies (loan, inspections, appraisal, etc.) the property will be listed as “active contingent”. Once contingencies have been removed a property will be listed as “pending”, and this usually means it’s as good as sold, but not quite there. Then, of course, it is “sold” (no explanation needed).
With a property like this that basically goes from “active” to “pending” (skipping “active contingent”), it could mean any number of things, but generally there were no contingencies, meaning the buyers are comfortable with the home just the way it is, and nothing else is really negotiable. It is also a pretty good bet that the sale will be a cash sale. Not always, but basically obtaining financing is not a problem.
So, it’s a good day for everyone involved with the two newest homes on Pacific that have sold in practically the blink of an eye.
5 thoughts on “3130 Pacific, priced to sell at $12,495,000.00, and almost sold”
Yet 1771 North Point is still on the market…….
[editor’s note: Good obversation, yet you can’t compare 1771 Northpoint to 3130 Pacific. Completely different properties, location, and buyer profile.]
Only comparing new construction / high end places that are moving off the market fast. I remain interested in NP only to the extent that if that place goes for $5M it will be a significant statement on the health of the market.
[editor’s note: Indeed it will be a significant statement on the health of the market, and thanks for clarifying.]
Why should 1771 Northpoint be sold already? They aren’t accepting offers yet! Did you not receive the “Greening of The Marina” Builders Showcase postcard yet?
Their event is open till June 10th i believe, with still an auction to come this weekend ($90 tickets I believe, donno where my card went).
At any rate, with 2511 Steiner selling for $4.2 mil (asking $3.85 for 3300 sqft), and 3117 Buchanan selling for $847K (799K), I think the market is pretty darn healthy.
Anybody know about 2243 “A” Green St asking $1.395 mil? First open was last Sunday, and now it’s not on MLS anymore.
[editor’s note: pending…in contract, no contingencies, 7 days on market.]
I put the link in your comments, but if people don’t see that, here is the link…it is pending: http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSLogin&ARGUMENT=zvKJ9efrbFlwqvsrsX5LUuBB5BzztTw%2F6qoCnUTG0rk%3D&KeyRid=1&isPreview=Y