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Russian Hill Fancy Manse, Still Languishing, Drops Another $500K

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Then: $6,950,000
Now: $4,450,000
You Save: $2,500,000, or 36 percent!

Steady this one goes, from nearly $7 million when it hit the MLS more than a year ago, to just under $5 mil by the end of last month — and a month later, another $500K off the top to its price today of under $4.5 million. The 3-bed, 2.5-bath manse at 1188 Lombard was notable last month for its 80s-era Michael Taylor interiors, but also, as commenter glitzy bernini dryly noted, the current proprietor has "owned this property for decades. It's currently assessed value for taxes at $369K. And pay about $4K in taxes. And this is one reason why California is nearly bankrupt." But we probably won't be seeing that drastic a price reduction before the house finally moves.
· 1188 Lombard St [Redfin]
· Languishing Russian Hill House Drops $2 Million From Asking [Curbed SF]