Too Expensive (Bayview)


#1

This is the most delusional listing I have seen all year…

Condo 2/2/1300 asking 1.2M in a sketchy part of Bayview. Yeah, inside is all new and dolly. But nobody in their right mind will buy a condo there given all the other choices in SOMA say.


#2

It’s not out of this world. Some townhouse right on 3rd got sold for $1 million last year. So they are in the ballpark…


#3

But this is just the top floor. It’s a condo not townhouse. And 3rd has street cars and shopping.


#4

Pros and cons. 3rd is noisier and busier street. Plus this was sold one year ago so you have to account for appreciation.

But for 1.2 couldn’t you buy a normal house in a better neighborhood?


#5

1.2 can buy you a townhouse in SOMA, or a SFH in Portola. No need to spend that money on a condo in an iffy area.


#6

By the way I think area around the 3rd St will see a lot of appreciation after the Central Subway is done. Techies can ride the T all the way to work in SOMA. Same for Chinatown?


#7

Yes, I think Bayview, hunters point, and East Palo Alto are definitely the future of housing :slight_smile:


#8

Def worth keeping an eye out on what happens. I suspect no takers and big haircut coming. If it sells at full asking price, then the Fab 7x7 is no joke…


#9

I think it will sell for full price maybe more…


#10

It’s a joke. If you guys never been to that part of town, drive there. One side of the street is industrial, the other side a mix of apartments, SFH’s and more industrials. You don’t get a warm and fuzzy homey feeling there. This condo marks the top of the market.


#11

I agree with manch on the neighborhood. I grew up in Portola,Excelsior. Which is nearby but west of Bayshore. The area east of Bayshore is not good.

This might look ok on paper, but considering the area, seems overpriced. However, I’m not familiar with SF prices.


#12

Big gentrification has already occurred. When I was growing up in portola in the 80s, the place felt like a ghetto and was down right scary. It looks a lot better now. Same with Bayview. Will only get better.


#13

This house is couple houses down from the delusional condo, in the same block. 2/1/1370 SFH. Asking 900K.

How can anyone justify spending 1.2M on a top-floor condo, which is effectively just half a house, when they can buy the whole thing for 900 next door?

I know we are only 3 months in this year, but I am calling this condo :clap: :clap: :clap: the most delusional seller of 2017. :clap: :clap: :clap:


#14

Bayview new condos are selling for a lot more than SFR at the same location. Apparently young rich millennials approach Bayview with a much more positive view. Usually young people are correct if this is the typical millennium mindset. They will reshape housing market in 10 years.

Bayview could become hip, just like Bernal heights


#15

Why not visit this 1.2M brand new condo and report your opinion after viewing


#16

Folks,

This was a heavy industry and military use site for so many years. What are the odds that it is really cleaned up? Some say it is not and that there is a cover-up. Wouldn’t surprise me. Smart people will not gamble with their family’s long term health by moving here just for a nice new home. I certainly wouldn’t.


#17

@sfdragonboy this is NOT Hunters Point. Many of these houses were built in the 1910s. I don’t think there is any heavy industry there. Some auto repair shops and warehouses.


#18

If you survive.


#19

Sure, maybe not exactly on the shipyard site itself but I am not convinced…

Bayview-Hunters Point or The Bayview, is a neighborhood in the southeastern corner of San Francisco, California, United States. The decommissioned Hunters Point Naval Shipyard is located within its boundaries


#20

That’s easily a mile or two away!

Anyhow upper Bayview near the T-line is one of my farm areas. IMHO it has the potential to be Dogpatch 2.0. I love its appreciation potential.