Friday, August 18, 2006

Up to $120,000 Price Cuts at The Lodge at Bankers Hill

The Lodge at Bankers Hill is a new development that was supposed to be rentals. The project has been converted into for sale condominiums. It should be ready for move ins this fall.

They have announced price cuts and a 4% commission for real estate agents.

I'll speculate that this is going to a very common occurance for the many new projects that are hitting the market over the next year. Stay tuned to this blog as I'll be posting on price activity as I document it.

8 comments:

Anonymous said...

Has anyone visited this development? I believe it is built now.

Mr. Brightside said...

Yes I've been there and am planning a post a review along with some pictures I took of the place.

Lindismith said...

Yes, please post pics, and any other info you have. their website says a studio is in the "low $300K". Isn't this block right in the flightpath???

Mr. Brightside said...

Hi Lindi,

It's one or two blocks off of the flight path, I have a number of pictures of jets landing from the roof and from the 3rd floor, southwest corner model unit. It's fun for the first one but by the second screaming jet the novelty wears off. :|

Anonymous said...

Too bad they didn't name it the approach hanger, but then again that wouldn't have gone over as well with the specuvestor crowd.

Anonymous said...

I live half a block south of the flight path on Banker's Hill in a 100 year old, poorly insulated building (though it does have double pane windows) and the planes are not the noise problem I have- the cars and street noise are. The planes are annoying if you aren't used to it but they do become background noise after a period of time.

Now if they are flying right over the top of the building, that is a very different story...

I wouldn't pay $300K for a studio, probably with no view, in the direct flight path. I pay $800 right now for this studio with a bay and city view and it would take something very special to get me out of here.

I look forward to your review, Mr. Brightside, and thanks for a great site.

Anonymous said...

Hi there... not sure how old this blog is, because I didn't notice dates of the posts. However I wanted to offer some info on The Lodge. I recently purchased one of the Row Homes at this development, and I must say that I shopped long and hard before making my decision. Suffice it to say that the row homes and condos are very different products at the lodge... but the quality in the build is evident with both products. I have extensive experience with ColRich (one of two building partners on this project) and I must say, even though these are not near their $2million SFD products, they are very very good. The incentives they are offering at the moment are some of the best in 92101. They are not conversions, and they are brand new. The HOA is a bit high, at approx $390 for the condos and $190 for the row homes (no trash, water, insurance incl for the rowhomes). You can probably get a couple years HOA paid by the builder. There is no pool, but the security parking, bldg security and gym are all more than adequate. Even the most southerly-west unit is still 1 block off the flight path, and I don't think the noise is excessive. I come from a quiet Mission Hills neighborhood and I can say that. Inside the homes, with their great insulation and window quality, you don't hear the planes at all. I'm not moved into my rowhome yet, but I've been there a hundred times and I feel I know the product quite well now. I've had the chance to speak to one of the architects, and the engineering level of The Lodge is Above Average to Excellent. My $0.02. Cheers.

Anonymous said...

Hi there... not sure how old this blog is, because I didn't notice dates of the posts. However I wanted to offer some info on The Lodge. I recently purchased one of the Row Homes at this development, and I must say that I shopped long and hard before making my decision. Suffice it to say that the row homes and condos are very different products at the lodge... but the quality in the build is evident with both products. I have extensive experience with ColRich (one of two building partners on this project) and I must say, even though these are not near their $2million SFD products, they are very very good. The incentives they are offering at the moment are some of the best in 92101. They are not conversions, and they are brand new. The HOA is a bit high, at approx $390 for the condos and $190 for the row homes (no trash, water, insurance incl for the rowhomes). You may get a couple years HOA paid by the builder however. There is no pool, but the security parking, bldg security and gym are all more than adequate. Even the most southerly-west unit is still 1 block off the flight path, and I don't think the noise is excessive. I come from a quiet Mission Hills neighborhood and I can say that. Inside the homes, with their great insulation and window quality, you don't hear the planes at all. I'm not moved into my rowhome yet, but I've been there a hundred times and I feel I know the product quite well now. I've had the chance to speak to one of the architects, and the engineering level of The Lodge is Above Average to Excellent. My $0.02. Cheers.