“Seems outrageous to me” (2566 23rd Ave.)

I’m going to keep quiet on this and do as this reader suggests…”let the readers decide”.

This listing [2566 23rd Ave.] in SF’s Parkside caught my eye.

Bought in March for $1.04M (expensive for Parkside), this home was flipped and is now back on the market for $1.6M!

Seems outrageous to me, but let the readers decide.

256623rdave.jpg

Okay…I can’t keep quiet. This area of Parkside is not like what you’d expect of the “Parkside”. The homes are much different, and much nicer than most. Many have great views, which add a good bit of value (in the fall ;-) ) Looking at comps it’s actually priced spot on for average price per square foot, but in my opinion that’s too high. It’s the most expensive home in any recent comp and the market is in a dicey phase. I’d expect a sales price in the $1.3M’s, but I’d like to get inside before I’m held to that prediction. I’m going strictly off comps and pictures…not good medicine.

-2566 23rd [redfin]

-Parkside [sfnewsletter's Tour de San Francisco (real estate)]

4 thoughts on ““Seems outrageous to me” (2566 23rd Ave.)”

  1. You’d hope to get a bigger yary for that king of money.

    On a separate topic, this is where sellers go wrong with FSBO or redfin. They get greedy. Not only do they try to cheap out on the commission but they try and get the top end of the market. I’m sorry, if you want to get the top end of the market you need to use a realtor and pull our all the tricks. Sellers using FSBO or redfin should price their place right at market and hope to save some commission. Make the realtors work to get you a premium and earn their comission. The likely outcome here, and for most unsuccessful FSBOs is that a Realtor will come in, convince them that the price should be lower, scoop up the property and steal a commission from the sorry seller who probably could have sold it FSBO or redfin and actually saved some comission at the final selling price.

    [Editor's note: It's actually a Coldwell Banker listing, but the reader sent the Redfin link, so I went with it. I almost made the same judgment.]

  2. How did they get city approval to build out so much in the back? From the size of the yard, it seems the building structure has taken over more than 80% of the lot…

  3. I heard the 289 Marina Blvd. house just sold. Asking $2.795 mil… north of $3 mil…. can anybody verify? I went inside… 1950′s…. needed A LOT of remodelling.

    [Editor's note: Correct. Sold for $3.7M. Seven offers.]

  4. As to the rear yard build out they either did it with permits or they didnt. (which would be hard to do with neighbors not aware. And there are BIG fines for doing work without a permit.

    The rear yard setback is based on the lot zoning. Assume RH-1: therefore 25% of lot depth must be open. and it’s also based on the rear wall line of both adjacent neighbors.

    The planning code is complex. That’s why you need a good architect like me for this kind of work.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s