Today on sfnewsletter we did a “Walk Down Lake Street”, to share some insight on what’s happening in that area.
125 and 129 Lake
These two properties are literally in the same building, and have seen entirely different results.
125 Lake is a 3 bed, 2 bath, 2-level condo, with zero parking, but a top-notch location.
Listed on 4/25/07 for $1,150,000, it received a pre-emptive offer, which was declined, was marketed for a couple weeks, had an offer date, received multiple offers, and sold over asking ($1,227,000) and spent a staggering 13 days on the market.129 Lake, also a 3 bed, 2 bath, zero parking, but middle floor unit, is not doing so hot.
It hit the market on 9/06/07 for $1,195,000 (surely priced compared to 125 Lake), had a price reduction to $1,079,000, and is getting stale. Why? Square footage? Middle Unit? Parking? Price? Market?
The full text is here. [Update: The full report will no longer available online after 11/9/07. Please contact sfnewsletter or an sfnewsletter provider to send you the full report.] To be added to the distribution of the sfnewsletter, please tell your Realtor/Mortgage broker to send it to you. If you are not working with a Realtor already, you can get Alex’s sfnewsletter by following this link.
Not only is it full of fun information about our market, but each week sfnewsletter puts out comps for the whole city that are sortable, accurate, and will ensure you know more than your neighbors, but not as much as us. ;-)
Yes…baby needs a new pair of shoes, so a little promotion every now and then can’t hurt.