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Telegraph Hill: Dream Houses Plunge Into the Abyss

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[31 Alta Listing Photos Credit: Jean Pedigo] Two high-profile Telegraph Hill properties have taken a total of $4,400,000 off their asking prices. While they're both different, both fall into the category of San Francisco "dream homes" for some.

Was: $3,800,000
Now: $2,800,000
You Save: $1,000,000

The first, a house from 1853 that's managed to hang on, limpet-like, 31 Alta Street AKA "The Captain's House" was offered at $3,800,000 with much hoopla last year, as possibly the oldest surviving house in San Francisco. It's since had a challenger from in the Mission- which was practically another town back then. And late last week, the handsomely-restored 3-bed, 2-bath was re-listed and took a pricechop of $1,000,000. So now the former speakeasy is "new to the market" without any mention of giving up more than 25% of its previous asking price.

Was: $12,900,000
Now: $9,500,000
You Save: $3,400,000

Equally tragic (from the owner's point of view) is the fate of 260 Green Street, the 4-bed, 4.5-bath house with the bull's blood red lacquer library and perfect San Francisco views, now available for $2,400,000 less than last year. Perched on the edge of Telegraph Hill and not visible from the street, it was offered in September, 2010 at $12,900,000, underwent a pricechop six weeks later to $11,000,000, and is now asking (begging? pleading?) $9,500,000. Check out the gallery for what one commenter called the perfect "girl's dream come true" closets.
· 31 Alta Street [Redfin]
· Telegraph Hill: Is This the Oldest Surviving House in San Francisco? [Curbed SF Archives]
· The South Mission: Another Contender for SF's Oldest House [Curbed SF Archives]
· Telegraph Hill Massive Price Chop [Curbed SF Archives]