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December 8, 2010

SF Market Shows Its Mood Swings

It’s always a kick to point out recent sales that are typical of the current market’s mood swings. Random examples of homes selling for well above or below their list prices pop up on a regular basis. And there were two good examples last week.

151 Mendosa in Forest Hill is a 4BR/3.5BA ocean-view home with 4250 square feet on a very cute cul-de-sac street:

What it lacks in exterior appeal, it makes up for in views, as this ornate dining room outlook attests:

The house was listed at $1,495,000 in early October, and closed escrow last week for $1,650,000. It helps to know that this particular listing agent is known for underpricing properties, but the point is that buyers are still falling in step with that strategy.

At the other end of the spectrum was 176 Palo Alto in Clarendon Heights:

The 3BR/1.75BA modernist home featured 20′ glass windows and lots of wood. Listed in September for $2,280,000, the property sold last week for $1,925,000.

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