The doldrums

Not a whole lot of inventory has hit the market this week. A quick glance at the MLS today shows 43 new SFR (single family residence) listings. Of them, two are in the Sunset, three in the Excelsior, two in Crocker Amazon, two in Portola, and one in Bayview.  All of the other new SFR listings are in other counties.

It makes sense. This is a big travel weekend and all. On the other hand, some people do make a point of getting out to look at properties during holiday weekends. 

To round it out, there are 58 solds, 34 pendings, and 14 contingents. The end/beginning of this month always sees a “solds dump.” 

 

– Fluj

 

12 thoughts on “The doldrums

  1. Nice first “post” fluj. I’m at an archaic computer at my in-laws and can’t do much but comment. Speaking of “sales dump”, a drive around Tahoe, as mentioned in a previous post, shows sold signs everywhere!

  2. Very interesting mkt. Is it better to have $200,000 tied up in your $1mil SF property, or $200,000 invested in the stock market, down 20% in June alone? Hmmmm tough one!

    Fluj, if you can help highlight a good property that is being sold by a distressed seller, i’d be very interested in checking it out. Inner Sunset, D7, D8 are all fine.

    thnx!

  3. Inner Sunset has no inventory. It seems any SFR coming to the market got sold in two to three weeks.

    However, take a look at 1382 7th Ave. It just came to the market and listed for 1.09M. It will sell for much higher, no?

  4. John – Are you sure about that address? Zillow says it was sold in February for under $900K. Is this a flip? Do you have a link?

  5. That whole row of craftsman/edwardians is really pretty terrific. Seventh is a super busy street, the lot is only 95 deep, but yeah, unless it is a wreck inside this one is priced for overbids.

  6. Fluj, I still cannot get over 198 Judah sold. That one was a wreck inside and out. Any inside story on that? I don’t see any contractors working in it the few times I drove by lately.

  7. I think 198 Judah could easily be turned into three condos and someone could profit quite handsomely off it. It was a wreck, and for a contractor and a contractor only. But wow was it huge. That thing was at least 3500 feet counting the basement. That’s like 340 a foot for the Inner Sunset right by the medical center. I actually sold that property only to have the buyer back out at the 11th hour. In my opinion he made a huge mistake.

  8. It’s pretty crazy how fast SFRs are sold in Inner Sunset. There was one on 17th ave between irving and judah about 30 days ago — once owned by Merl Saunders (I used to see him play with the Grateful Dead, and good thing he didn’t become their regular keyboardist, probably because he was mindful of the curse on GD keyboardists) — anyway, two weekend showings and it was gone. Another one popped up around the same time on Kirkham at the end of 16th ave — a nice Spanish Colonial, and it has gone now, too.

    The thing with Inner Sunset and these 2br/1ba SFRs that generally go for 800s is the potential. The ground level is of legal height easily and can easily accommodate adding 1bd/1ba expansion if not 2br — u just have to move the water heater and the gas furnace. Also, I think it’s easy to obtain a permit to build a pop-out because a lot of yards are 120 ft deep. So before you know it, a 2/1 becomes a 4/2 or 4/3 and it goes for 1.2mm

    What i also notice is that condos and TICs are not moving that much in Inner Sunset. Probably because the SFR 2/1s are priced just a tad more than the 2/1 TICs/condos and why would anybody want to get a TIC/Condo when they can stretch it a bit to get a SFR?

  9. It went into contract yesterday, John. Remind me in a month or so and I’ll be glad to look it up for you.

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