The Sunset Rocking The Overbids!

sanfrancisco

#524

Wow, and I was going to say that was a nice, healthy Chinese sold price. You are a tough grader! :grinning: For us to be talking about a Sunset home selling for 1.8M is absurd enough, but I am not complaining. Keep it coming…


#525

#526

They have pictures at Zillow for this one. This is the record for SFH in " central sunset " but the materials on 33rd is FAR more superior


#527

And this one sold super high for a small house, one way street with an electric pool on yard ok their lot.

Would take the 33rd one anyday with ocean views


#528

Is sunset now more expensive than bernal? Noe and bernal seem to be sleepy for the last 2 years with little appreciation.

Sunset buyers might be mostly Asian, Noe and bernal buyers might be mostly white. Did Asian buyers speed up their buying when the white buyers slowed down?


#529

I noticed that too. Some have even slipped in pricing


#530

Yeah, I believe we have already covered this one (looking at the July sold date). The occasional 2M+ price tag for Sunset is not surprising anymore. Flippers or just homeowners are not only thinking that there is a marketplace for that price level but getting it in the Sunset. In order to get it though, you really need to step up your game in terms of materials used and of course your home has to have the attributes like views to command such a lofty price.


#531

Wow, you think 4/4 nearly 2000 sq ft is small? Materials/design are nice though and I think that again speaks to some of the remodels that are selling near or above 2M. We are not seeing chinese cabinets and cheap granite in a house selling for 2M. I guess the saying is true, you build it they will come…


#532

I went to the open house, it’s a small house. Materials is like a 7 overall. The 33rd Ave is probably a 9 imo. Rating is in terms of pricing for the materials


#533

Don’t mean to harp on this thread. But something like this

Crappy flip imo materials rating probably a 4-5 sells for only 80k less than 33rd Ave with no views. Cost for 33rd Ave is probably 2x this one.


#534

Ok, can’t argue if you went there and got the feel of the places. Honestly, I don’t know if I can remodel to any of these places’ degree on my own at this point. These are all very nice. I would have to hire a designer and a contractor who really knows his/her stuff. My house is a 4/4 with two extra, permitted separated living spaces and if I want to hit that 2M bar I will need to go all out on the remodel. My once cherry wood cabinets and Cambria countertops ain’t gonna cut it anymore…


#535

My logic has always been willing to spend Money to make MORE MONEY


#536

Seller overpaid for this one.


#537

Well, that definitely seems to be the case. Again, my sis inlaw’s place was lightly remodeled, sold for 1.36M if I remember correctly, only to be gutted again for a rebirth at probably 2M. Who does that?


#538

Location trumped material with this one. 16th is inner parkside which sells for more.


#539

1.36 regut to sell for 2.0 is a bad flip. Construction costs are so high now that it’s cutting into the profits.


#540

Not really. Healthy profit with that.


#541

Must have been the case. Personally since I saw both flips even both at 1.93 we would have taken the 33rd one


#542

I still say the commonality in all the places you brought up is 4 or more bedrooms. These are good to very good sized homes. Ok, if a legitimate 2/1 home, but nicely remodeled, goes for north of 1.5M that says something.

Good stuff anyway, @Esfgiants, you are on it!!!


#543

How much do you think gutting a 4/4 2200 sf will cost ? How does your breakdown work and your definition of “healthy”?