Friday, July 07, 2006

The Red Door of Sausalito is Back

This Sausalito POS is back on the market with a new picture and a new tight-arsed Marin price reduction of a whole 1.7%. I guess they couldn't sell it the first time and so they relisted it as a "new listing". Proof-positive that the days-on-market statistic that realtors like to use is pure, unadulterated BS.

Anyway, it still comes in at 1 br 1 ba, built 1948, 528 sq ft, 1045 sq ft lot, and one very red door. At the new asking price of $639,000 ($1210 per sq ft.) this is yet (again) another glaring example of how worthless your money is in the Marin real estate market.

Update: I'd also like to point out that of all the houses that ZipRealty says are currently on the market within my search price range of between $100K and $10 million (n > 700), this POS is the smallest in terms of square footage.

6 Comments:

Blogger marin_explorer said...

"New listing"--yes, despite realtors thinking they're tricky, it's pretty easy to check on a property's sales history; Google works wonders.

Let me venture a guess on this one. The owners are so confidently tight-arsed, the realtor could only squeeze out a 1.7% reduction. With languishing inventory, that sizzling 0.57 heat index, and boatloads of local realtors, will we see downward pressure on the market? Or will realtors calmly sit around, gratifying their clients, until prices and buyers slowly meet?

I'm sure realtors will always put their clients first, sales volume (and incomes) be damned.

July 07, 2006 12:50 PM  
Anonymous Anonymous said...

Is that them thar asbestos shingles I see? Hmm, maybe the buyer can get discounted fire insurance.

July 07, 2006 1:30 PM  
Blogger buyer2be said...

Funny - I have driven by that place when I lived in Sausalito.

Question: Other than google, are there other resources people use to track MLS listings of how often and how much a house has been listed and relisted?

July 07, 2006 1:36 PM  
Blogger marin_explorer said...

Something interesting to note:
If this property were bought for land alone, the effective land price would be $26.6M/acre!

What is wrong with this picture?

July 07, 2006 2:53 PM  
Anonymous Anonymous said...

Small one-bedroom cottage from the Forties. Looks like it's been well kept up.

Only thing wrong with it is the price -- 2-3x what it should be. And that'll come in the next crash.

July 07, 2006 4:14 PM  
Anonymous tom stone said...

at least 4 out of 5 realtors believe the horseshit they spew.my boss quoted eyler today to show that none of coastal california was at risk of a price drop.i heard of 3 realtors this week who are renting ,or trying to rent, rooms in their homes...one is asking $700 a month for a room in santa rosa.i know of 3 open houses last weekend that had no traffic at all...zero.one in sebastopol, two in santa rosa.from what i overheard this is now common throughout west sonoma county.

July 11, 2006 1:01 PM  

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