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October 27, 2010

Lake District Sales See Both Ends of Spectrum

166_19thave

The Lake neighborhood saw its share of rollercoaster sales prices in October. But that’s not surprising, as such activity exemplifies the mixed-bag nature of the San Francisco market these days.

The 4BR/2.5BA single-family home at 166 19th Avenue (above) came on the market as an REO property listed at $1.2M. This was a remodeled, 2464-square foot home one door down from the Richmond playground between California and Lake. The property was sold in four days for $1,255,000. Who says no one’s paying more than the asking price these days? Set a price low enough to attract interest—as banks are known to do—and you can move a house very quickly.

The other extreme sale took place at 181 8th Avenue:

Initially listed at $2,195,000 in March 2010, the 4BR/3.5BA home had 3464 square feet, a legal 1BR apartment, and a carriage house at the rear of the lot. 8th Avenue closed escrow in mid October for $1,725,000 after a series of price reductions. (The house has had its share of turnover in the past several years, selling in March 2005 for $1,950,000, and then again in May 2008 for $2,215,000.)

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