October 6, 2008

1409 Sanchez: Back on the Market

1409 Sanchez / Credit: Socketsite

This house can't seem to get a break. Socketsite tracked it's sales progress this spring, and now The Front Steps is reporting it's back on the market:
This property just closed escrow for 870K, that’s $2,000 more than it sold for three years ago. In the interim, it became a short sale, and had been marketed for $1.1M.
What's going on? No work has been done, no permits applied for, and the economy is ... not so hot right now. But is an 80 foot deep lot in Noe Valley only worth $800k now? What happened?

[MLS: 1409 Sanchez]
[SocketSite: A Total Noe Fixer/Tear-Down]
[The Front Steps: An interesting Noe Valley apples to apples]


Anonymous said...

The lot is now vacant -- the structure was torn down last year. Will be interesting to see how this one ends.