Comments on: A Tale of Two Districts http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/ San Francisco Real Estate Blog with a Twist and some Flavor Fri, 25 Jul 2008 14:55:16 +0000 http://wordpress.org/?v=MU By: eddy http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-929 eddy Wed, 11 Jul 2007 17:05:32 +0000 http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-929 Thanks for that update. Buyer psychology is really important. Somehow it feels good to lose a property or two before you're comfortable overbidding to win a property, assuming that is what you need to do. Thanks for that update. Buyer psychology is really important. Somehow it feels good to lose a property or two before you’re comfortable overbidding to win a property, assuming that is what you need to do.

]]> By: alex http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-928 alex Wed, 11 Jul 2007 15:34:42 +0000 http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-928 I saw Douglass yesterday along with about 30 other properties. They all tend to blend into one after a while. In order to protect the interests of some clients I have that may be interested in writing an offer on Douglass, I won't discuss price. I did not get in to Sacramento though (son needed Kindergarten shots), so I can't speak for Sacto. Douglass however was beautiful. Had everything a family is looking for...space (inside and out), hardwood, new kitchen, dining area, living area, good bedrooms, eastern exposure (blocks wind in the backyard), garage, nice room down that opens to yard, charm, and of course...location. If we write an offer and get blown out of the water, I'll be sure to let everyone know. Until then, I have to keep my lips sealed about price, but I can't imagine it goes too far over asking. Actually, a bit of a tangent here. Regardless of what I think a property is worth, and what my clients are paying, somebody who is just fed up, comes in and blows everyone away. Very common on property like this, when you get 10 offers, 7 are around asking, one is an _____ thinking he can steal it $500,000 under, and two are well above, and one of those is usually so outstanding a seller can't pass it up (read: way over and with zero contingencies, often cash). The point of this tangent being, when there are so many buyers competing for the same place, logic often takes a back seat to emotion. I saw Douglass yesterday along with about 30 other properties. They all tend to blend into one after a while. In order to protect the interests of some clients I have that may be interested in writing an offer on Douglass, I won’t discuss price. I did not get in to Sacramento though (son needed Kindergarten shots), so I can’t speak for Sacto. Douglass however was beautiful. Had everything a family is looking for…space (inside and out), hardwood, new kitchen, dining area, living area, good bedrooms, eastern exposure (blocks wind in the backyard), garage, nice room down that opens to yard, charm, and of course…location. If we write an offer and get blown out of the water, I’ll be sure to let everyone know. Until then, I have to keep my lips sealed about price, but I can’t imagine it goes too far over asking.

Actually, a bit of a tangent here. Regardless of what I think a property is worth, and what my clients are paying, somebody who is just fed up, comes in and blows everyone away. Very common on property like this, when you get 10 offers, 7 are around asking, one is an _____ thinking he can steal it $500,000 under, and two are well above, and one of those is usually so outstanding a seller can’t pass it up (read: way over and with zero contingencies, often cash). The point of this tangent being, when there are so many buyers competing for the same place, logic often takes a back seat to emotion.

]]> By: eddy http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-915 eddy Mon, 09 Jul 2007 20:49:10 +0000 http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-915 I didn't go inside; but I did a drive by of Sacramento and its on a great block. Again, a single story Vic about 2/3'd the size sold for just over a 1M a year ago and had no room for expansion. This one is 1 of 3 in a row of a similar style, with one of them having added a garage (so its possible). I think the sales price is close to listing price when its all said and done. And a small family could be very happy there. Anyone get to Noe to see the other listing? I didn’t go inside; but I did a drive by of Sacramento and its on a great block. Again, a single story Vic about 2/3′d the size sold for just over a 1M a year ago and had no room for expansion. This one is 1 of 3 in a row of a similar style, with one of them having added a garage (so its possible). I think the sales price is close to listing price when its all said and done. And a small family could be very happy there.

Anyone get to Noe to see the other listing?

]]> By: CuriousCat http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-908 CuriousCat Mon, 09 Jul 2007 00:55:56 +0000 http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-908 Checked out Sacramento today. Here are some thoughts: Better than expected! I can see why someone would buy it, as there is potential to remodel the unfinished basement, and install a full bath and rent it out. The basement is around 650sqft. The house does feel like it's around 1,600-1,700sqft.. or smaller than the recorded 1,800sqft in the tax records. It's easy to do the math. The lot is only 17 FEET X 64 FEET vs. the standard width of 25 FEET. No backyard really at all, and the rear wall needs some major reshingling. Overall though, I can see this house selling for $1.5 million. Great location, good upside potential. Checked out Sacramento today. Here are some thoughts:

Better than expected! I can see why someone would buy it, as there is potential to remodel the unfinished basement, and install a full bath and rent it out. The basement is around 650sqft. The house does feel like it’s around 1,600-1,700sqft.. or smaller than the recorded 1,800sqft in the tax records.

It’s easy to do the math. The lot is only 17 FEET X 64 FEET vs. the standard width of 25 FEET. No backyard really at all, and the rear wall needs some major reshingling.

Overall though, I can see this house selling for $1.5 million. Great location, good upside potential.

]]> By: CuriousCat http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-896 CuriousCat Fri, 06 Jul 2007 05:11:37 +0000 http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-896 Hi Guys, Anybody know what the following sold for? 3612 Webster 2502 Broadway 2467 Vallejo 2255 Lyon ? I just got a postcard from a real estate agent. I'm most interested in 3612 Webster. Thnx. [<strong>Editor's note</strong>: Absolutely! We did a post <a href="/2007/07/05/when-readers-want-prices-we-bring-it/" rel="nofollow">just for you</a>. Thanks for reading, and spread the word!] Hi Guys,

Anybody know what the following sold for?

3612 Webster
2502 Broadway
2467 Vallejo
2255 Lyon

?

I just got a postcard from a real estate agent. I’m most interested in 3612 Webster. Thnx.
[Editor's note: Absolutely! We did a post just for you. Thanks for reading, and spread the word!]

]]> By: Boomtime http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-894 Boomtime Fri, 06 Jul 2007 01:17:18 +0000 http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-894 YEs, thnx for the update on 818 Noe St. Will be interesting to see what it sells for. That Bernal Heights house for $800/sqft is a joke. The seller scored. YEs, thnx for the update on 818 Noe St. Will be interesting to see what it sells for.

That Bernal Heights house for $800/sqft is a joke. The seller scored.

]]> By: Robert http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-884 Robert Thu, 05 Jul 2007 16:39:54 +0000 http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-884 818 Noe had been listed last year for at least 1.475 before it was reduced to 1.375. I'm not a realtor but a neighbor so I don't have exact figures. 818 Noe had been listed last year for at least 1.475 before it was reduced to 1.375. I’m not a realtor but a neighbor so I don’t have exact figures.

]]> By: Boomtime http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-882 Boomtime Thu, 05 Jul 2007 05:21:17 +0000 http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-882 Thanks for the 818 Noe recap. In retrospect, I think many of us will realize that 4Q06 was a very good time to buy. Very slow, a lot of fear, and then everybody got paid. Does 1,160sqft sound right for this home? That's what tax records show. [<strong>Editor</strong>: Which Home? 818?] Thanks for the 818 Noe recap. In retrospect, I think many of us will realize that 4Q06 was a very good time to buy. Very slow, a lot of fear, and then everybody got paid. Does 1,160sqft sound right for this home? That’s what tax records show.
[Editor: Which Home? 818?]

]]> By: thefrontsteps http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-880 thefrontsteps Thu, 05 Jul 2007 05:06:19 +0000 http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-880 I will decline to comment, until I am able to get inside both properties. (Disclaimer: If I get busy, I may not make it in...so I'll quickly say, from the MLS listing, the Noe home is blowing doors on the Sacramento home. You never get a second chance on a first impression and when that "MLS Auto-prospecting" goes out to countless people, if you miss them the first time around, they may not come back.) I will decline to comment, until I am able to get inside both properties. (Disclaimer: If I get busy, I may not make it in…so I’ll quickly say, from the MLS listing, the Noe home is blowing doors on the Sacramento home. You never get a second chance on a first impression and when that “MLS Auto-prospecting” goes out to countless people, if you miss them the first time around, they may not come back.)

]]> By: Boomtime http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-878 Boomtime Thu, 05 Jul 2007 03:55:52 +0000 http://thefrontsteps.com/2007/07/03/a-tale-of-two-districts/#comment-878 Did i read somewhere about this charming 2/1.5 SFH in Noe? Tues tour cancelled, and in contract already. http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N720498810,-N208424,-N,-A,-N9323901 [<strong>Editor's note</strong>: You may have heard it from the other best source of real estate information in the city...the <a href="http://www.sfnewsletter.com" rel="nofollow">sfnewsletter</a>, which was last published 6/29: "A Reader Notes a Noe Flip We take absolutely no credit for this find. One of our readers, E.L., recently sent us an email: "818 Noe - sold last year after quite a few days on the market (2 months??), in contract today with an asking price of another 100K after one weekend showing. Is this a strong market or what? Quite pricey on the $/sqft and smallish....the interesting part is that it didn't easily sell last year, the current owner was an out of towner that paid quite a bit IMO at the time, but a year later it sells so quickly." 'Tis true: in September 2006, the single family at 818 Noe, a 2 bed, 1.5 bath, listed at $1,375,000, spent 75 days on the market, then finally sold for $1,350,000. That very same property just hit the market on June 19th (9 months after selling last) for $1,495,000, and got into contract on June 25th (six days on the market). Now...we don't hold a crystal ball, but we're betting it sells over $1.5. That is not bad for a 9 month hold. Thanks E.L. for pointing that out."-sfnewsletter Did i read somewhere about this charming 2/1.5 SFH in Noe? Tues tour cancelled, and in contract already.
http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N720498810,-N208424,-N,-A,-N9323901
[Editor’s note: You may have heard it from the other best source of real estate information in the city…the sfnewsletter, which was last published 6/29: “A Reader Notes a Noe Flip
We take absolutely no credit for this find. One of our readers, E.L., recently sent us an email:
“818 Noe - sold last year after quite a few days on the market (2 months??), in contract today with an asking price of another 100K after one weekend showing. Is this a strong market or what? Quite pricey on the $/sqft and smallish….the interesting part is that it didn’t easily sell last year, the current owner was an out of towner that paid quite a bit IMO at the time, but a year later it sells so quickly.”
‘Tis true: in September 2006, the single family at 818 Noe, a 2 bed, 1.5 bath, listed at $1,375,000, spent 75 days on the market, then finally sold for $1,350,000. That very same property just hit the market on June 19th (9 months after selling last) for $1,495,000, and got into contract on June 25th (six days on the market). Now…we don’t hold a crystal ball, but we’re betting it sells over $1.5. That is not bad for a 9 month hold. Thanks E.L. for pointing that out.”-sfnewsletter

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