Friday, August 04, 2006

Downtown Condo at Discovery #907

This unit is in pretty rough shape as it only has one parking spot which most large units downtown offer.

Discovery is a nice building located on Cortez Hill which is the outermost neighborhood in the city.

The MLS pictures show a vacant unit so there is likely a motivated seller holding this unit.

Resale Price: $625,000 (Range priced $599,649 to $649,000)
Cost: $725,000
Loss@6% Sales Expenses: $137,500

Purchase Date: 08/05/2004
Loss%: 18.97%
Holding Period: 24 months and counting...

MLS: 066053535

Bedrooms: 2
Bathrooms: 2
Square Feet: 1230

Purchase Details: view

2 comments:

nykid said...

In NY, real estate has A selling price. In SD I've noticed 2 prices. Some brokers have tried to explain what the 2 prices represent, but got hung up in rambling, double talking, BS, diatribe.If a property can be bought for 1 Million, why in the world would I offer 1.1 Million. Is there an explanation, or is it just a marketing ploy?

Mr. Brightside said...

nykid,

In my view it's a marketing gimmick that will probably go away as the bubble deflates.