"Days on Market" can be a tricky thing. Looking at the property history in the MLS this property was first put on the market July 26, 2012. They did two price reductions down to $579,000 and it went into contract two weeks later on November 21st. About the same time the sale became a short sale. (Why the seller and listing agents hadn't figured that out until after it went into contract is a question only they can answer). As we all know now, short sales can take a while to obtain lender(s) approval. In early June this year the price was increased back up to $649,000 which was the original listing price and at the same time the agents announced the property was no longer a short sale. (Again, only they know why). The existing contract was cancelled (probably by the buyer). Two weeks later the property went back into contract.
So, from the time it changed status from short sale to regular sale on June 3rd until it went into contract June 18 is just slightly over two weeks. About right in our current market.
This is a good example of why the MLS is still the best source of information and why, especially in a seller's market, you should be working with an agent who will be alerted to these sometimes very fleeting opportunities.... more
I bought a house on the south slope of Kansas St in 1990 for 199K. Seems to me, the values have NOT kept up with the rest of the city. We experienced a lot of "street crime" but the house was never bothered. Lived there for 7 years then moved out to Moss Beach....THAT house tripled in value in the same period of time. Great weather on the hill, but not so sure about home appreciation.... more
Melanie has her directions wrong. She is speaking of the north slope looking towards Downtown. The south slope looks towards Ceasar Chavez Blvd and the south bay.
Potrero Hill most desirable areas in order are north, east, west and then south. The south slope has some nice properties on it and will be undergoing much change in the coming years. Right now it is a bit isolated, industrial and has housing authority projects on it. When the Dogpatch area builds up and if SF can succeed in it's HOPE SF project it will join the rest of Potrero hill and probably be better than the west slope which overlooks and suffers in some locations from the freeway noise.... more