Sub 400k at 380 Monterey (#101)

It’s not very often we point out the sub $600,000, let alone the sub $500,000 San Francisco real estate market, because it’s not the most common sale in San Francisco, but what about the sub $400,000 market? It exists, albeit very minimally, and 380 Monterey #101, a 1 bed, 1 bath, 668 square foot condo in the Sunnyside is a perfect example of what you can get…it’s still close to $600/square foot, but it will only set you back $390,000.

For those that always wonder, original asking price was $449,000, so this does support the doomsday theory that more properties are selling under asking and the bottom is falling out, even if it was priced too high in the first place. Get to the right price and 95% of homes in San Francisco will still sell.

-380 Monterey #101 [MLS]

-Sunnyside [Tour de San Francisco (real estate) in the Sunnyside]

A done deal at 200 Brannan (#109)

Oh it’s just so awful when a property sells for under asking.  The world of San Francisco real estate has certainly come to an end when we start to see this.  We can all pack our things and head for more affordable, greener pastures.  That is, of course, unless you love yourself some loft!

After 32 days on the market, 200 Brannan #109 sold for a whopping $10,000 below list price, or more correctly stated, it sold at market value.

This is a fantastic property in a great building, and these buyers got a great price, and a great outdoor patio! They should be thrilled.

We doubt you’d find anything like this in Kansas.

-200 Brannan #109 [MLS]

Mid-Century Movement (56 Clarendon)

Originally listed September 19, 2007 for $2,495,000, reduced to $2,300,000 two months later, and now sold for $2,250,000, 56 Clarendon, in Clarendon Heights, is a done deal.

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Is this a significant “anecdote” of market information/fluctuation. We’ll let you decide that, we just wanted to highlight another gem of the mid-century.

-56 Clarendon [mls]

-more mid-century posts [theFrontSteps]

463 Nevada in Bernal on $950,000 out $775,000 (yes that’s under asking)

A reader asks about 463 Nevada, a “mid-century modern home completely remodeled in 2001 with great light and views. Perfect home for people who appreciate design and architecture from Dwell Magazine and Design Within Reach.”-agent remarks

“Hi,

i’ve always believed that you can’t lose in SF RE, especially if you wait out the lows because let’s be honest, the lows here, if they even happen, don’t happen for too long, right? Well, my view was challenged recently after seeing a beautiful house for sale at 463 Nevada St in Bernal Heights.

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It was completely gutted and remodeled in 2001. While the colors were too bright for my taste (and i think probably most people’s taste) the house itself is a gem with the only work needed to it is to tame those bright colors with a nice coat of paint. Nice hardwood floors, top of the line appliances, 3bd/2ba and a garage..a rarity in SF! :-)

Listed at 950K , I thought the price was steep but then learned that it just sold for 775K. How is that possible?

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It gets better. It was listed as 900 something sq feet per tax record [Editor's note: Indeed, 980] but agent claimed it as 1250 which is a somewhat substantial discrepancy.”

We won’t even get into the agent square footage discrepancy as we have absolutely no idea about the property, we’re assuming some remodeling done without permit, and/or tax records are not updated. Who knows. As for the home not selling for $950,000…over-priced. Important to remember, regardless of where properties are priced, the market will always make the comp. Even if the home was listed at $599,000 and it sold for $775,000, the market would set that price. Sounds like a fair price for that home. The price could also have been set by the seller. We really don’t know, unless the agent cares to share some knowledge.  Or our readers and Stammtisch care to chime in.

-Reduced [theFrontSteps]

-463 Nevada St [MLS]