By Coach A:
Put this in the “Reason’s why we hate Realtors” box. 958 Carolina St, a 2500 square foot, 4 bed, 2.5 bath single family house in Potrero Hill came on the market on September 10th for $1,795,000. A steep price in my opinion but in this market, it’s probably best to allow the property ample time on the market before making any wild adjustments in price–OR–you can change the price every time a stiff breeze rolls through the Bay Area.
Property History:
- 09/10: New on the market for $1,795,00
- 09/18: Lowered to $1,760,000 ($35K reduction in 8 days-little quick in my opinion)
- 09/20: Lowered to $1,698,000 (really? 48 hours after a reduction, another reduction?)
- 09/21 6pm: Lowered to $1,600,000 (hmmm - did ya give the $62K reduction a full day?)
- 09/21 8pm: Raised to $1,680,000 (guess the interest @ $1.6m was GREAT for 2 hours)
- 09/22: Lowered to $1,678,000 (ahh yes, the effective $2K reduction!)
- 09/25: Lowered to $1,650,000
- 09/29 12:51pm: Lowered to $1,495,000 (ok - now we’re getting closer to the realistic value of this home - 300K below where we started)
- 09/29 12:53: Raised to $1,650,000 (a 2 minute price reduction - DAMN - I missed my chance)
Seriously - what the FU*K is this agent thinking? If it’s done to get the listing popping up on our database which does occur when the price is lowered and raised, well that’s just pathetic. I can think of a few better marketing ideas–shit, Cooper (3.5 years old) can come up with a better strategy! Here’s an idea–why don’t you price the property appropriately - let’s say $1.4m (and that’s PUSHING it) and leave it the hell alone for 3-4 weeks.
Imagine going out to eat with this agent- “I’d like the garden salad and lasagna, no wait, make that the minestrone soup and the burger,
no no - the salad and the burger, wait - did I say salad and burger, I meant the salad and the soup, wait wait - can I get the lasagna and the soup. That’s what I want - lasagna and soup — WAIT WAIT - let me just get the burger……”
958 Carolina Street [Home SF]
*image a la mapjack.com
9 comments
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September 30, 2008 at 6:47 am
rolfsf
hey man, it’s a volatile market. Ya gotta keep up with it
October 1, 2008 at 7:46 am
Weekly News Round-Up | Redfin San Francisco Sweet Digs
[...] had to share the hilarious story posted by Coach A over at San Francisco Schtuff, “The Extremely Curious 958 Carolina Street.” In this post he recounts the ridiculous antics of one listing agent, who over the course of 19 days [...]
October 1, 2008 at 12:49 pm
Garrett
just noticed this was reduced today to $1.495m
October 1, 2008 at 1:00 pm
homegreg
fear not - it will change by Friday.
[editors note: this listing was "accepting offers" on 10/14/08 and now they are "accepting offers as they come." the price has also been raised and lowered today...]
October 15, 2008 at 3:10 pm
Yogi Bear
FYI- The listing agent is the owner… So, this isn’t your “average bear” of a listing…
October 15, 2008 at 3:20 pm
Yogi Bear
The asking price of $1,495,000 is not really out of line. Take a looksy at the square footage of 958 Carolina. Then, pull some comps that have sold in P-hill. Note the price per sold square foot. 958 Carolina is on the less expensive side (when you look at it from a price per square foot basis) for being as renovated as it is…The pricing has been erratic, yes….but the price is not out of line.
October 15, 2008 at 3:30 pm
Garrett
@ yogi Bear:
i don’t disagree at all. it’s a lot of house and it’s nicely finished. the problem is, the marketing of the home has been in such disarray, that it’s hard for anybody to take the price seriously. that, coupled with the fact that there is just a lot of stuff in the place is what has kept folks away. i’m pretty sure it will sell, but if the agent priced it at the lowest price she’s had it at and just let it chill for 2 weeks and perhaps took a few pieces of furniture out, the place would show much nicer and the price would resonate much better with buyers (personal opinion).
October 15, 2008 at 3:30 pm
Yogi Bear
Correction…Seller is a agent, not “the” listing agent…
October 15, 2008 at 3:30 pm
Garrett
Yogi B: you were right the first time. the seller is also the agent…