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August 17, 2020

My Picks for Price-Reduced Properties

I’m seeing a lot more price reductions happening on a regular basis lately, especially in the $2M+ price ranges for condos. Sellers and their agents are trying to find their accurate home values and the corona market is a work in progress.

I always recommend seeing a property as soon as you can if there’s a big price reduction. A large list price cut tends to attract eyeballs, particularly belonging to folks who had already been through on a showing.

Here are a few notable homes that have undergone price adjustments. As always, make sure you’re currently preapproved for a loan or have proof of funds before you schedule an appointment. And wear your mask when you arrive.

1541 Filbert #1
Cow Hollow

3BR/2BA, 1167 sq ft, 1 pkg
List Date: July 7
Original List Price: $1,800,000
Current List Price: $1,624,999

This flat at the rear of a six-unit building has a remodeled kitchen, en suite bedroom and access to a kickin’ shared roof deck. The location is right near Polk Street and Union Street corridors, which will be convenient when the city opens up again. Filbert came on the market in mid July for $1,800,000, slid to $1,699,000 and is now $1,624,999. These are some pretty big price chops over the span of about a month, so I’d say the seller is motivated. (Listing courtesy of Corcoran Global Living)

134 Haight #A
Hayes Valley

3BR/2.5BA, 2 pkg
List Date: July 25
Orig LP: $1,650,000
Current LP: $1,599,000

134 Haight #A is the quintessential Victorian flat in a cool Hayes Valley spot. The two-level condo has many selling points, including a large deeded deck/patio, open living/dining area, en suite bedroom. There is only one other unit in the building, so it’s a small HOA. They’re moving things along with the $50,000 reduction. (Listing courtesy Sotheby’s International Realty)

2590 Clay #203
Pacific Heights

3BR/2.BA, 1 pkg
List Date: June 1
Orig LP: $1,695,000
Current LP: $1,549,000

This well-appointed unit is in the heart of Pacific Heights and has a spacious deeded deck. With three bedrooms, you have plenty of space for incorporating an office or homeschool area. Laundry is common with coin-operated machines, but if you can get past that and focus on location, location, location, you’ll be golden. (Listing courtesy of Compass)

903 Minnesota

4BR/3.5BA, 1 pkg
List Date: April 2
Orig LP: $3,350,000
Current LP: $2,845,000

903 Minnesota is as hip a location as you’ll find, on a nice block in Dogpatch. Single-family homes are rare in the neighborhood, and this one has two en suite bedrooms, Zoom rooms, and a modern aesthetic throughout. And, oh, that yard. Listing courtesy of Sotheby’s International Realty)

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