SF: Listings that Belie The Bubble
We’ve heard SF, or at least parts, are bubble-pop resistant, no matter what goes on in the rest of the country. Here are a few listings with that in mind.
Featured today on Socketsite, 3373 22nd St. is a restored home (really restored- the former version was a complete disaster) recently listed at 2,095,000 (purchased, in disrepair at $920K in 2005). The interior and exterior show beautiful make-overs, and you can assume– hopefully– the major systems have also been repaired/replaced. Still, is almost 3 million a lot for a 4/3 which, despite optimistic map reading, is more Mission than Noe?
Meanwhile, San Francisco Schtuff tells the tale of 752 Carolina St., a 5/3 SFH which at $3 million is the highest price tag ever commanded in Portero: and it sold in just 9 days.
Inspired maybe by their neighbors’ luck, sellers at 695 Arkansas St. also listed their 3/3 SFH for $3 mill. Coach A, a regular poster on Schtuff, has an opinion about this price. After visiting, he wrote:
- It’s a very cool, modern, architecturally significant house that is extremely unassuming from the outside.
- It has expansive eastern views which you could describe as water views with a heavy dose of industrial and a scoach of housing project.
- Location wise, it’s FAR from ideal in the neighborhood.
- Compared to the other 3 million dollar homes currently available (see list below), it fails miserably.
- First impression – A seller that doesn’t care about first impressions. The cornerstone of the house is the central courtyard [which] hasn’t been mowed or watered in weeks, the pool is dirty, bordering on filthy, [and]there were light bulbs out.
Damn, I miss being able to review properties with such candor!
Speaking of pools, my favorite “Bubble? What bubble?” listing lingers on at 610 El Camino. Purchased for $1 million in 2002, the sellers hope an Albert Farr re-design warrants the new asking price of $6.2 million. After over 150 days on the market, no one has agreed just yet, but with not a single price reduction, the sellers remain steadfastly optimistic.
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photo: citymice.blogspot.com
