Case Study: Sunset/Parkside Homes On The Market


#201

It’s San Francisco! It’s where you’d need to pay the most for the tiniest square footage.


#202

Come on, you’re paying for the address number…:grinning:


#203

Also, where’s the fireplace? Not seeing any… :laughing:


#204

Let’s be honest right, the buyer probably is not extremely familiar with the area and the weather and of course went to the open house when it was probably gorgeous out. Heck, on a nice day who wouldn’t want to live by the beach…


#205

Ok, time to take the pulse of the Sunset with a small, Outer Sunset, fixer… Geez, 950K for this???


#206

“44”—everybody living on this street suffers double death.


#207

Here is a pretty nice one that people may go ga ga over…


#208

Bad number combo…58…


#209

Buyers wont care.

Leta not buy due to number… Said noone ever.


#210

Ok, let’s see what this gut job flip goes for in under a year… my guess, 1.6M


#211

100% over 1.6 is my guess.


#212

The flipper might have done too much for this one given the neighborhood…


#213

That is why I was struggling on what price I would be comfortable with. I mean, we are talking Outer Sunset at 40th Ave. Yes, nice, big, remodeled home but beyond Sunset Blvd. When you start talking 1.7-1.8M I mean that is starting to hit Golden Gate Heights or West Portal territory (granted smaller home but same price). Maybe the Kool-Aid is starting to wear off on me…


#214

Is it worth it ? Probably not, but people are paying top dollar for turn key Properties. I went into that house personally it looks way better in person as the finishing work is above average


#215

Uh oh…


#216

Typical flip game plan in the Sunset and SF in general. Buy a 2/1 for $1M or under, then add one or two more bedrooms/baths plus some lipstick and bam $1.5M+ within half a year.

The part that sucks is that there is no more “starter” homes for the regular home buyer…


#217

No more house for under $1M in Sunset anymore.


#218

OK $1.1 and flip $1.6+ then…


#219

Have to agree with this! For 90% of the regular primary home buyers - the emotional stress of going thru a renovation which is a must for most of the older SF homes is a lot! Little updates here and there are OK, but the work that really needs to update a pre 1950s takes some resources and mental toughness.


#220

Despite the unlucky address numbers, this one may go waaaay over…