December 20, 2007

Tempt Your Buyer With A Sense Of Possibilities

francisco fsbo1 Tempt Your Buyer With A Sense Of Possibilitiesfrancisco fsbo2 Tempt Your Buyer With A Sense Of Possibilities

FSBO listings can make for good reading. Today, following Redfin’s recommendation to keep an eye on Craigslist, I give you this home for sale by owner. What I like about it is the owner’s flair for painting a picture of potential.

1717 Francisco Street (at Grant/McGhee) is a 3/1 family home near North Berkeley BART. Built in 1924 with some Craftsman-style built-ins, it’s had a kitchen remodel, and offers “lots of light, fireplace, hardwood floors and offstreet parking”. Price: $695,000.

But wait there’s more. First off, think what you might do with the 12’x19’ garage/shed” (love the detailed measurements), not to mention the “12’ x 11.5’ semi-finished ground-level basement. (A recording studio and meditation space perhaps?)

It would also, according to the owner, “be feasible to carve a second bathroom out of a bedroom or kitchen” (the kitchen… really?) and “ample crawlspace allows easy access everywhere for retrofitting and improvements, as well as plenty of additional storage!”

Finally, the owner would like you to ponder on the expansion potential of the property’s 5,130 sq ft lot. (An in-law bungalow, a home/office, another home darn it!)

It’s all very tempting. The question, as always, is why the owners didn’t turn all those ideas into reality themselves?

 Tempt Your Buyer With A Sense Of Possibilities


  • SurveyKid

    Yes no worries Tracey. I'm happy to swap the pint of English bitter, for a Cab Sav. You'll understand my mistake having already identified yourself as a UK transplant. Best of all, you risk nothing in the bet!

    Tracey, I'm an American who regretfully left Berkeley in 1995 and moved to London. And now, 12 years later, am about to move back to the East Bay. I wanted to mention Tracey that I make my living from making predictions. I have been in the weak dollar, strong oil game for 5 years now. And I began to bite my nails about the US banking system and the US Housing bubble 4 years ago. When I tell you that house prices in the **entire** Bay Area are going significantly lower and will not bottom until at least 2009, I can certainly be wrong. However, it's at least an opinion of some quality.

    Of course, if you are drawing from pile of GBP to make your down payment, then, that is a different matter. As the UK housing bubble is and remains one of greater excess than ours, here, you might find that the Pound weakens right along with the USD, and from time to time over the next 24 months, may slip back from "double parity" towards 1.80. If that's the case, then, some sort of intermediary position of East Bay housing price weakness, and GBP strength, may be to your advantage.

    Best to you and if that house sells I will arrange to get you your Cab Sav.

    --The Kid

  • David: What? Another glass of Cabernet? Sounds good. Now I just need to engineer a way for this house to sell high.

  • David

    I second the comment, it'll never sell for 695K.

  • Tracey Taylor

    SurveyKid: You're on! But could we make it a glass of good Californian Cabernet? Despite my nationality -- and the fact that I grew up in Belgium for goodness sake -- I've never been much of beer drinker.

  • SurveyKid

    Yes. Great location. I used to live a stone's throw from this house, in fact. The problem is that in the current downtrend, 695K is too much for 1200 sq ft.

    I'll buy you a pint of John Smith, Tracey, if this house transacts at, or above, this price.

    --The Kid

  • gfw

    Fantastic location!

  • Tracey Taylor

    Yes, so it's a maybe little misleading to suggest all these things can be done. On the other hand I applaud the owner for his or her chutzpa. It certainly helps their home stand out from the crowd. And they do mention proximity to Ohlone etc. In fact this home scores 72/100 on the wonderful Walk Score (www.walkscore.com), a fact that is also worth flaunting.

  • Two reasons the previous owner didn't:

    1) Lack of capital ($$$)
    2) The near impossibility of getting permits in Berkeley.

    Wonderful location, though, steps from Ohlone Park.

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