See, so you bring up a great example. Why did this one sell way, way over asking but that one @manch brought up (listing below) is literally languishing on the market and even had a price reduction??? I think it was not staged very well (unlike yours with COLOR) and may have been originally priced too high. Weird…
One was a high end, 21st century futuristic flip. The other was stuck in the 1930s. Thus the difference.
But I would have still expected it to sell though. Everything sells in the Sunset!!!
That 1930s house should have gone with the tactic of listing way below value like $888k to induce overbidding.
Well, that would have been too low for inner Sunset. It certainly needs some work so pricing should be more reflective of that need. But the few furniture pieces are not exactly nice and appealing and the tv hanging out of the wall is gross. I didn’t mention it before, but that tree in the front of the house looks terrible too. The house has that old world charm but the seller/agent really didn’t market it well and did not have a realistic price point. So, yeah, it shouldn’t be a surprise that it has not sold yet. I am thinking if they drop it to 1.45 or 1.5 it should go this Spring…
Yes, that sounds about right…
Offer them 1.2 and see if they take it.
Granted it is a fixer and way out there, but this one did not crack a million…looks like great bones for inlaw action…
@sfdragonboy how much does “unwarranted bedroom and bathroom downstairs with its own entry” that fetch? ballpark.
Well, the unwarranted part is somewhat vague, but a Sunset inlaw can easily go for slightly over a grand + utilities.
With San Francisco Extreme Pro Tenant - I would best avoid any unwarranted rental properties or at the very least factor in the expense to legalize any unwarranted units before renting out.
The SF rent control and building code much more favors the Tenant… If need to vacant a rental - one most likely need to PAY-OFF the tenants to move out of your rental property even after the lease is expired!!! Imagine how much more at risk if the rental is “illegal/unwarranted”
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Agree and thanks for the disclaimer @BAzx. When I did my remodel, the spaces on the ground floor were built to code and fully permitted. With sky high Sunset pricing, one should do it anyway if only for resale purposes and as you indicated for supplemental income purposes. Would hate to have to tear down anything…
This one in outer Parkside just had a price reduction! What’s going on? Sky is falling???
https://www.redfin.com/CA/San-Francisco/2122-40th-Ave-94116/home/1833889
Yeah, staging is crap because sellers are still living there? 3/2/1300 reduced price from 995K to 925K.
The divider in the middle looks awkward.
Yes, I am a bit surprised this one did not sell and now has been reduced. Perhaps, the winds are changing in the Sunset. This is out on 40th but still not too bad. The divider thingy can be easily taken out. Sometimes, buyers are just not feeling it…
Perfect flipping opportunity guys! Buy it for 900, doll it up and it can easily sell for 1.3 or 4. What am I missing?
Yeah, it doesn’t seem to need a whole lot. Now, the kitchen is a tad small though. A nice paint job on the outside might do wonders. Agreed, the staging (if you want to call it that) literally tanked the selling of this one. It was better to just have the place completely bare then than throw out a few Asiany looking furniture (sorry, I had to go there…)
You bet owners are still living there. But man at least move those fugly file cabinets to the garage or something.
But the market used to be that even the pigs can sell for top dollars. Are the buyers finally saying enough is enough?
The inventory seems to be increasing, so there is no longer the fear that one will miss out on a home. So if that is the case I would expect less overbidding in general (unless again you are talking about an exceptional piece of property). Plain Janes are gonna have to put on the make-up to get noticed…
Uh oh, price drop!!! Bad street avenue number!!!