Where readers ask and we try to answer:
Can you help find out if 1409 Sanchez closed? This was a total tear down and it was listed for $1.1MM.
If this sold anywhere near ask, then Noe [Valley] is still hot…
The status of this property is “pending” and scheduled to close in March. Make no mistake, Noe is indeed still hot.
We’d post a picture, but it must be one of these, as the agents didn’t provide one.
I used to live near this place when it sold in late 2005 for $868,000. I believe the woman who owned the place passed away and her brother (who lived in the midwest) sold the place off as is.
I remember it had no parking and was a “dump”, but was in a great location. I assume the person who purchased had hopes to build up the place and flip it but appears little or no work has been done.
If they can turn around and sell this place 2 years later for $232,000 more (with little or no work done), then i would be shocked. I really like this location though.
I’m lost..when you click on “one of these” you get the 4017 folsom property listing post in bernal. which btw is still for sale. apparently it is totally overpriced (by 200K+) and the realtor who’s listing it seems to no longer even be a realtor?
as for the sanchez house, is that the one where one of the rooms in the back had smoke damage? if so, that place is a true dump. if not, there are two dumps (at least) on sanchez :-)
[Editor’s note: Allow us to clarify. “One of these” refers to a “total dump”, and you are almost correct with regard to 4017 Folsom. It was back on the market, but is again withdrawn. The price most recently was $619,900, and Sharon Bacigalupi is still an agent (last we heard). This is a REO property, which could have something to do with everything. Here is the most recent MLS sheet on 4017 Folsom. Now back to Sanchez.]
If you want to know whether NOe is still hot or not, you should train your eyes on the Clipper st. dump that got into contract after 8 days. That one was priced at 699K and probably got into the 9’s, with no garage, and the property that had been overrun by dogs.
Don’t forget about 3720 23rd St.
1000 sq. ft. “fixer” listed at $799k and gone in two weeks.
that dog will hunt!
;)
We moved into Noe last June and have tried to keep an eye on what is happening around here. And it still appears that decent places, parking or not, renovated or fixers, do not stay on the market for more than two weeks. There are exceptions, but they seem to be rare.
There was a complete fixer on 26th btwn Sanchez & Noe. It wasn’t on the market for more than a couple weeks if that. And as I see this place everyday I cannot wait for renovation work to begin.
My link didn’t seem to work. Try:
http://www.socketsite.com/archives/2008/01/yes_it_closed_escrow_yesterday_with_a_contract_price_of.html
[Editor’s note: Or better yet, full details from sfnewsletter.]
4027 26th street, which sold for ~$935K, is only about 2 blocks from 1409 Sanchez and appeared to be similar “dumps”; teardowns with no parking.
This is why i would be shocked if 1409 sanchez sold for close to $1.1MM. I know 1409 had houseplans available for conversion to a 2 unit condo but cant imagine that can explain any differences.
I think Noe is the one bright spot that fortunate buyers were lucky get in on over the past few years. There are some great homes over there and a true gentrification. I think there is still room to grow in 5c.
We bought near 30th and Sanchez last summer and feel very lucky to have gotten into the area. I could not be happier with the neighborhood. The park will be finished any week now.
My house was definitely a “fixer”. I’ve already put $50K into it so far and plan on spending another $50K in the next six months. There are also about half a dozen other major renovations happening within a block of me. It’s comforting to see the ongoing investment in the area, in spite of all the gloom in the broader market…
Thanks for the update Alex on 4017 Folsom. Unfortunately us commoners don’t see the listing on the MLS that is open to the public. As for the original realtor for that listing, it was Sue Tsai, Sharon must be the new one.
Surprise,Surprise.
1409 is BOM as far as I can tell. Just showed up as active again.
Both 26th st and this one can only be considered by someone who is willing to do a major project.
At prices approaching $1M for a lot, and in both cases with enough potential neighborhood issues, an experienced developer would stay AWAY. So you are left with amateurs, or someone who want to be build their dream house and doesn’t realize what’s involved.
The $2.5M and above is hurting right now, especially if you are south of 25th st. There are 4 properties competing for quite sometime.
Noe is doing great overall, but still considerably slower than previous spring. Luckily inventory is low as well, sellers are waiting on the sidelines or can’t afford to move up.
The next couple of months will tell the real story.
For a second there it looked like $2.5M and above was hurting. But looking at today’s numbers, I just don’t see it. Noe is crazy. That very uninteresting Castro property just flew into contract. For $2.995M or thereabouts??? It’s waaay up on Castro and like Valley. 455 27th got into contract recently with a $2.6 asking price, and the Homestead property got into contract yesterday.
Nope. Noe is still gangbusters. Top to bottom. Right now there is only one $2.5M+ property on the market, 791 27th.
Food for thought — The MLS only shows one Noe Valley property that has sold for over $3M. That was 526 Duncan, it was 5700 feet, spectacular design, and it sold for $5.3M.