by “Eddy”
[Editor’s note: This is the first direct post we’ve done from a member of the Stammtisch that is NOT a Realtor (as far as we know ;-) .) Let’s give “Eddy” a big welcome and thank you. We encourage all of you to participate.]
“So 2 new properties hit the market today at similar prices / features and I thought it would be fun to watch both of these listings mature. The first is 2679 Sacramento, a small 3 bed 1 bath single family home in Pacific Heights at Pierce Street for $1.55M. Needs work and a garage, but you can’t beat the location.
[Editor’s note: We chose the floorplan photo, because the other photos were crap! Rule #1 when putting a property in MLS, have the most/best photos you can right when it hits MLS.]
The other property is 689 Douglass in Noe Valley near 23rd Street for $1.895, a totally redone property that looks pretty clean inside and out and has a great location near 24th street. It’s also not too far up the hill in Noe to make it less desirable.
[Editor’s note: much better pictures…the winner, by far!]
Both properties probably appeal to similar buyers — young famlies looking for a single family home.
The Noe listing is boasting an “offer date” of July 17th; no doubt counting on some of the recent record breaking sales prices in Noe to drive interest there. The Sacramento listing isn’t touting an “offer date”, but there aren’t too many single family homes that come up in this area for under $1.5M. So it’s attractive in as much as you get to own a ‘home’ in a prestigious neighborhood and be a bit closer to downtown.
I’d love to hear everyone’s thoughts on pricing and marketing strategy. I thought it would be interesting to track these properties. For me, I’m going to say that Noe goes over asking and closes fast, while Sacramento sells for asking, or slightly under, after seeing a healthy DOM of 45-60 (Days On Market). How about you?”
Thanks “Eddy”. Much appreciated.