I toured 2175 41st. There is in fact a dishwasher to the immediate right of the fridge. Itâs just disguised as a cabinet.
Oh ok⌠yes I was feeling weird about that kitchen not seeming to have a dishwasher because the description clearly said it did.
Insight? Hoards of people? Disneyland turnstile roping action? Double parked cars? Worth every dime, or not so much in your opinion?
Oh, I just posted that earlier today under my new homage thread to THE MACHINE!!! He picks up a check practically every week, what realtor does that???
Location location location. Does not help that it sits on a big o road. Looks like very close to the forever busy 19th and Sloat intersection too.
Hey, 1.57M is not a bad payday forâŚTHE MACHINE!!! Give me my money, B*tchâŚoh sorry, got a lil carried away thereâŚmy bad
Thatâs true, could be very loud there
Weâve been looking in Sunset/Parkside for a few months. This place was pretty typical as far as open houses go - lots of people in and out the door but definitely not hordes. Looked to be pretty well maintained. Decent ocean views out of the bedrooms. Backyard was very nice (most backyards in the Sunset - very not nice). Original bathroom up and not great quality on the downstairs buildout.
In the current market, 1.4 is probably the right price for this one. Definitely not a big overpay and definitely not a steal. Closer to golden gate park and it would have pushed closer to 1.5 - it was nicer than some of the places that have sold just above 1.5 further north in the outer Sunset.
How perfect! We have someone actually looking to buy in the Fab 7x7. So, are you primarily looking in the Sunset/Parkside area or are you considering other neighborhoods or even cities? What draws you to the Sunset/Parkside? Have you already bid on homes? Prefer a fixer that you can customize to your liking or would you prefer a dolled up house? Ok, does the tunnel entrance style of a lot of the Sunset homes bother you?
I find it interesting that you thought that the pricing was about right. Come on!!! Even I, the most pro Sunset person since Jason âThe Machineâ Chan, thinks this is kinda overpriced (since beyond Sunset Blvd).
How could it be overpriced if you take into account 5 years from now the average Sunset home will be worth over $2M maybe?
Well, the run-up in pricing has been so spectacular that one should consider whether or not we are due for a pause or even a correction in the near term. Nobody goes to a buffet and eats non stop. One has to pause, eventually. If you felt the market were surely heading up still, we would expect you to be behaving accordingly, which would be to snap up every Sunset property that you could get your hands on. Why wouldnât you? Like you said, imagine all Sunset homes averaging 2M in 5 years. But, because you are investing in other areas, your actions speak more loudly than your words about investment allocation.
Just because Iâm investing in other areas doesnât mean I donât believe in rising Sunset prices though. You should know that all BA neighborhoods rise and fall together, right? If Sunset goes to 2M, then Walnut Creek might go to 1.5M. But buying in WC might be more cost effective for me than Sunset because of the lower entry point, so I can save my cash and invest some more elsewhere.
A prudent investor, whether it be in RE or comic books, should never assume that the good times will roll forever, especially considering a huge run-up already. Incomes def havenât kept pace (even in SV as reported) and there is reporting that yes even in the Fab 7x7 the unemployment % inched up lately. Driving through the city, I am seeing more vacancy/rent signs than before in the areas that are prime (Pac Heights, Cow Hollow, Marina). Believe me, I would love to see Sunset average 2M because that would mean you and I would be well over that since our homes are not average by any means.
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Donât worry! I think BA real estate has room for improvement! If you look at SF obviously prices have more than doubled since 15 years ago when I bought my house. But if you look at a place like Antioch, prices have not even reached back to its previous peak yet! Iâm not saying prices wonât fall before they reached back up to their previous peak, but just as a comparison from the past, weâve had better times before in some neighborhoods. So depending on where you are looking, you can say that there was a huge run-up (SF), but also there wasnât (Antioch).
Our kids go to school in the Richmond. We want a SFR and we want our school commutes to not be terrible, so we are looking in the Richmond and Sunset/Parkside. Richmond inventory is really low and a lot of it is too $$$ for us. Not considering moving out of SF - we prefer a more urban environment even if weâre going to live in a less dense part of the city, and I bike to work which would be a bit much in Marin or down the Peninsula (and not possible from East Bay).
Prefer something in between a fixer and a total remodel - we donât have the patience for a total fixer but do want some room to make our own changes. Tunnel entry seems like a silly waste of space but beggars canât be choosers! We have noticed that anything with the slightest bit of differential value (ocean view, 3rd bedroom up) is really getting bid up. We have been very close on a couple places, but very close doesnât get you anything when the competition has 50-100% cash to put down.
Not trying to time the market for our own residence. Now is the right time for us to buy so thatâs what we are going to do. Weâre looking for a place to live in for at least a decade and I have very high confidence that the Sunset will be more expensive in 10 years than it is now. I also think comparing median SF SFR costs to median incomes is a bit silly. No one at median income is buying an SFR in SF - inventory is low enough that the top end of the income/wealth distribution can easily buy all of the houses.
My own take is that the concentration of capital in tech companies is sufficient to keep the low/medium end of the SFR market in SF strong. There are plenty of dual income households with 300k+ in combined salary (not to mention stock bonuses) and very little inventory for them to buy. Tech buses increase the pool of families like this that want to live in SF. It doesnât take that high of a rate of IPOs from SF companies to distort the market - a company that unleashes a thousand new qualified buyers in the 1-2M range can have a real effect in a market that only sees hundreds of homes trade hands each month.
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Awesome stuff there, @lasse. Well, good luck with the hunting. It sounds like you def know what you are doing and it is just a matter of time before you land one to your liking. Shoot, had you been on here a month or two ago, I would have steered you to my sis-inlawsâs family home on Lawton Street by 30th Ave (across from Lawton School) that went for 1.36M(?) on the open market. Before remodel, her siblings balked on my offer of 1.1M. Oh wellâŚ
We actually saw something we kinda like in DC Westlake last night. Private sale. @dioworld, @myo, I will be PMing you guys for some insight regarding DC and regulations around permitting and evictions. Anyone else who has experience with permit process in DC and also eviction rules let me know. I would love to chat with you.
Um, I donât think @lasse would cry over missing out on your sis in laws house. You know what kind of feng shui it hasâŚ
Come on, I know that, but good pricing heals all wounds. I look at every opportunity with an open mind. You have to, in this marketâŚ
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Too cheap?
Bigger lot than usual.