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Infinity re-sale #3C

by sfishome on April 2, 2010

Here come the Infinity re-sales. 301 Main #3C now asking $1,195,000.

But wait, I thought the Infinity was sold out – how is it possible to buy one that’s already been bought? Like the SOMA Grand email I got last month saying only 3 homes were left.  April fools, they do re-sell.

301 Main #3C appears to have sold for $1.2 million (if my math is correct – using SFTreasurer.org annual property tax assessment divided by the property tax rate).

They started at $1,295,000 so we already know the original owner, now seller, will lose money. Figure 6% of sales price to factor in commissions, County transfer tax and any Staging costs. Plus their moves – in and now out, plus closing costs when they purchased, and you could include any carrying costs over and above what they might have paid in a rental while they waited for their own re-sale.  So the need to be first for that “new car smell” costs at least $80,000.

We suspect many more resales coming soon, and more losses for the original owners.  But that’s good news for the re-sale buyers.

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