Here’s a Hayes Valley condo in the thick of it-342 Hayes is a contemporary condo building in the heart of Hayes Valley. The location is fantastic; close to everything Hayes Valley has to offer. Close to public transit, the symphony, opera, great restaurants, fun shopping.
I happen to be a fan of this loft-like unit at 342 Hayes. They don’t come up often. As a matter of fact, the first one I ever saw was this unit (unit J) several years ago when it was on the market. Given the location, size (one bedroom, one and a half baths) and in-unit laundry, I think $559,000 is a good price. There is a new construction condo building across the street, in which the one bedrooms start quite a lot higher. Dues are $418 per month and parking is included with the unit.
After 30 days on the market with no offers, unit J was reduced $20,000. My experience this year so far, is that if a property is priced where you think it should be, it often sits on the market and has to be reduced, while a property that seems under priced often sells with multiple offers and over asking. Go figure. Same buyer mentality as the dot-com boom.
Closed at $525,000 9/15/10