SF and Daly City: Signs of Distress= Your Chance to Make a Sweet Deal

This mornings, in reviewing a crop of new listings, I realized I was seeing lower prices than I have ever seen- and not just in those districts we all know are slumping right now. Signs of distress are popping up even in traditionally strong neighborhoods, and that might mean your chance to buy into an area you actually want to stay in long enough to appreciate your investment.

Some of the listings I’m sharing here are short sales, probate sales, or simply really “priced to sell,” to use the vernacular. I’ve selected only SFH since they are usually the least affordable, and highlighted SF as well as Daly City. For a more complete search, you can go to Redfin, click the search box, and enter your specifications: if you check new listings and set a price limit, you can really narrow in on these possible deals.  

San Francisco

2/1 SFH for $559,900 in Parkside at 2662 47th Ave., SF (Bank owned). I like this area: close to zoo, beach, SF State, Lake Merced, and freeway access.

3/1 SFH for $875,000 in Outer Richmond at 34 Point Lobos (Probate sale). Classic architecture, historic neighborhood (Sutro Baths, Lands End, Fort Miley, Cliff House).

2/1 SFH for $749,000 in Lone Mountain at 787 Spruce St. (no specific distress listed here, but the listing is in a great area and all the online appraisals put it at a much higher value; as the agent put it, property “priced to sell”).

3/1 SFH for $628,000 in Golden Gate Heights/Inner Sunset at 1719 9th Ave. (Probate sale). I have never seen a property in this area under $800K.

Daly City

3/2 SFH for $539,900 in Daly City at 139 Flournoy St. (Bank owned). Good size house, garage, yard.

3/2 SFH for $779,000 in Westgate area at 90 Northgate Ct. (Not a short sale, but the sign of distress here is that the property was purchased in 2004 for $750,000).

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Photo credit: Bloodhound Blog.com