Reader Reports: Parkside home for $1.4M? (2560 22nd Ave)

From our reader:

Is any house in the central sunset worth 1.4 million? The average price in the central sunset 800k -900k.

Please take a look at 2960 22nd Ave, San Francisco which just came on the market.

2560 22nd Ave (before)

…and the kitchen:

Kitchen before

We must first say that this home is technically located in the Parkside, near Stern Grove and that area is quite nice. Having not actually been in the home, we can’t speak to the price, but if the pictures are any indication….oh wait, those are the before shots from the last sale in December 2007 at $900,000.

Read on for the after…. Continue reading

2801 Lake returns, new price, new look

In case you don’t get sfnewsletter:

All it takes is to remove the clutter (before shots)

adjust the price (sold in Dec ’07 for $2,580,000 after some massive price reductions) to get it sold, call in the contractors and voila…the after:

2801 Lake Street (after shots), a 5 bed, 4 bath remodeled home in Sea Cliff hits the market a mere seven months after last selling and this time they upped the price a hair to $4,995,000. (They also took out a few sunflowers and stuffed animals.) Any takers?

Before, After, Up, Down…Straight Up Confusion on 2542 Fillmore

Hats off to the developer for a job well done and having the cajones to see this project at 2542 Fillmore through. Had you seen the before, you’d realize how great is the after. Oh…we have the before:

…and the after

…and even more. The before price of $2,675,000 (August 2005), the after price of $4,950,000 (two weeks ago) and the new after, after price, $5,250,000? Wait, what’s that? They actually RAISED the price after two weeks on the market? As our reader notes, “[Twelve] Days on the Market and no sale. What does Malin [Giddings, Maximilian Armour] and team do? Raise the price 5% from $4.95 to $5.25. Classic!” So what gives?

We’ve known about this property at 2542 Fillmore for quite some time. We tried to secure a buyer to take it from the current seller prior to this recent remodel, but nobody we knew was up to the task. This is a sweet home, who wants it!?

Defying the odds and defying standards of redevelopment 2542 Fillmore is certainly a property to watch.

[Update: ...and according to a reader, now in contract (6/11/2008).]

-2542 Fillmore before [sfnewsletter listing detail]

-2542 Fillmore after [sfnewsletter listing detail]

Getting the LEED out for the weekend

This tip comes to us all the way from Oregon, via telephone no less (what is that!), and is about “one of the country’s first LEED certified homes” (LEED stands for Leadership in Energy and Environmental Design) that happens to be across the pond (Oakland). Rather than ramble on, we thought we’d just leave you with some nice photos and a link to details for the weekend.

That should make for some nice before and afters. Thanks for the tip, and phone call. It’s nice to hear a voice every now and then, isn’t it?

Bon Weekend!

-Margarido House [website]

-Margaritas!

Before After and WTF on 154 15th Ave.

From a sale in January 2007 at $1,700,000, to a new listing and price of $2,400,000 in early May 2007, to a reduced price of $1,995,000 in middle May 2007, and an ultimate sales price of $2,100,000 (and your before photos) on the last day of May 2007, we find ourselves looking again at 154 15th Ave, but this time remodeled and listed at $3,298,000.

Hmmm….

Before:

15415thbefore.jpg

After:

15415thafter.jpg

Anybody care to wager on this one? Go ahead, you’re all anonymous, bet the farm.

-154 15th Ave [Redfin listing detail]

Nothing’s Changed but the Price, Oh, and the Type

The history of 465 Hoffman looks something like this:

Sold

03/08/2007—$1,150,000— 18.2%/yr (appreciation)

07/21/2006 —$1,035,000— 9.7%/yr

04/15/2004 —$840,000

…as a single family.

The plans look something like this:

465hoffman.jpg

…as an “Ultra-Modern designed legal 2 unit,also marketable as a magnificent 4 BR/3 bath,VIEW,single family home.”

The views still look like this:

465hoffmanview.jpg

…but now the price looks something like this:

$1,625,000.…as a vacant lot.

We ask, do you think a “status change” (“Single Family Residence” to “Lots & Acreage”) and demolition of this house (below) could add $475,000 in value in nine months?

465before.jpg

We’ll have to wait and see, and go check it out.

-Sales History [Redfin]

-listing detail [MLS]

Cole Valley before and after (1233 Shrader)

We were impressed with the front when walking by, were wowed by the interior when browsing the website, and thrilled when we discovered the before shots to share with you. 1233 Shrader: 4 bed, 4.5 baths, 3095 square feet, 2 car parking, and just $2,695,000 [Update: Now $2,560,000]. Pennies on the dollar.

1233shraderbefore.jpg

1233shraderafter.jpg

-Then and Now on MLS

-More Before and Afters [theFrontSteps]

-High Resolution Photos [Property website]

More fun inside 2201 Baker

Today, one of our (we’ll just call him/her “readers”) had the chance to get inside 2201 Baker, the $2,490,000 fixer in Pacific Heights, get the scoop, snap a few photos, and open our eyes to a true diamond in the rough. And of course provide us with “before” photos, should we still be blogging when the “after” shots hit the market.

The scoop:

It is a foreclosure (not sure we mentioned that.) About an hour before it hit MLS, it received an all cash, non-contingent, over asking offer from a developer. (Offers were as they come, per the bank’s request, not sure we mentioned that either.) About an hour after it hit MLS, a second offer was received. As of today (we haven’t checked MLS) it should be ratified. Many more offers were attempted, but turned away.

The photos:

No wonder it went from 15 bedrooms to zero bedrooms

inside2201baker

inside2201baker2

inside2201bakerkit

The fun:

You’ll have to see the next post for that.

We’re hoping some of you readers can go ahead and run the numbers on whether this thing would make sense for a developer. Assuming it needs EVERYTHING, and is historical.

-2201 Baker @ Jackson. Read the disclosures [theFrontSteps]

-Fixer Facing Foreclosure, Move Fast! [theFrontSteps]

-How to sell a home in Today’s Market [theFrontSteps]

-Good Bones [theFrontSteps]

-Real Estate P*rn, for real! [theFrontSteps]

Internet Marketing for Real Estate 101

This just kills us and it happens all too often. We know a large percentage of homes are sold by agents and not from photos on the internet, but there is also a very large percentage of attention deficit home buyers that get blasted with new listings as soon as they hit the market, and when they see this

nophoto.jpg

they just breeze right over them, and never come back.

Come on people!

If you have a “remarkable & totally remodeled (to the studs) home in the heart of Noe Valley [that] has been completely rebuilt from top to bottom. Every feature is state-of-the-art.” you need to get that on MLS with photos, even if you have to take them yourself. Sorry, there are no excuses.

Maybe by the time this post is published, the photos will be there for you to see.

[Update: Photos ahhh! Now we see.]

-4400 24th St. Noe Valley $2,295,000

The neighbors are “aghast”! (3809 Clay)

“This property [3809 Clay, a 3 bed, 3 bath in Presidio Heights] sold about three years ago (neighborhood rumor) to an agent, who modernized it then flipped [it] for around 1.4… note what it is listed for now. What do you think? We are aghast.”

3809clay4.jpg

Well…I don’t like rumors, so I did a little digging, and I’m sure some readers will dig a little more. Especially, the growing number of readers I’m now referring to as the “traders”. They love working the numbers (even if the facts are not all there), and we love reading it.

From what I can tell, it sold in August 2003 for $1,450,000 from a $1.6M asking price. At that time, it was not yet modernized, but it did sell to an agent that is known to be a part of “flipping”. I won’t say anything of the quality of flipping, just that they flip. [Update: And the agents were not part of the remodel/flip...only the clients.]

It was indeed remodeled after that purchase and came back to market in February 2004 at $1,899,000, and sold in 15 days for $2,070,000. (In my humble opinion they could have done better on the remodel.)

3809clay2.jpg

It is now back on the market, and to me it looks like whoever lived there did some nice touching up to make the home look like it should. [Update: Going against my cardinal rule, I posted without actually knowing the facts. They did, in fact, not do anything to the property except landscape and put in new shutters. Good photography vs. poor photography is what it comes down to. I'm red with embarrassment.] It is now listed at $2,595,000, and we’ll have to watch and see what happens. It looks much better. Wouldn’t you agree? [Update: I still think it looks better now though.]

3809clay3.jpg

I am not aghast, but I am also not a neighbor. Anyone else?

[Last Update: A good comp for this property is 339 Walnut, but since MLS is down, I can't post it.]

-3809 Clay [MLS]

Inside the Fairmont Heritage Place Ghirardelli Square

The Fairmont Heritage Place at Ghirardelli Square is a very interesting development and fractional ownership opportunity. The location is top notch (could get a little annoying with all the tourists milling about though), the views from the upper units will be incredible (think 4th of July), and the amenities, services, and nearby attractions should keep you busy for quite some time (or feed your chocolate addiction).

ghirardelli.jpg

A bunch of sweet before shots for you…after will be in Spring 2008

Views from the balcony of the “Cocoa” building, which will house mainly two bedroom units:

fhpview.jpg

This is what will be the lobby and valet area which is in the “Cocoa” building.

fhp7.jpg

This is a view from the “Woolen Mill Building” and the garden terrace in the foreground looking back toward the project. The “Clocktower” is on the left, which will house the 3 bedroom units, the “Cocoa” is in the middle under the big “Ghirardelli” sign, the “Chocolate” being directly in front of the camera.

fhp6.jpg

Inside the second floor of the “Chocolate” building looking north.

fhp5.jpg

On this terrace will be a fire pit, and outdoor loungy area (can’t wait to see the after of this spot.)

fhp4.jpg

“Cocoa” building which will house many 2 bedroom view units.

fhp3.jpg

“Clocktower” building will house 3 bedroom units

fhp2.jpg

This is inside the “Woolen Mill Building” which is closest to the water and will have some amazing views and as you can is well under way.

fhp1.jpg

My walkthrough was basically a chance to get in and see the project under construction and get some photos to complement the “after” renderings provided by zum llc.

There are 54 homes in the entire development, 43 of which are planned to be two bedrooms. There are 540 interests in the 54 homes being sold, you get a 10% interest in one property (and you get a deed, so you are free to rent your time out). So far they have sold around 70 interests (sold meaning deposits have been received), and they are expecting move-in and occupancy in Spring of 2008 (could be a good investment opportunity here). The first release price of the two bedrooms was $199,500, the price then increased to $233,179. They have two interests left at this price and they will then be implementing a price increase. The small amount of three bedroom units that were initially released have been “sold”, but they will have more in the future, and the price is not yet determined.

You get 35 days of use per year for each 1/10 interest you purchase, as well as numerous benefits around the world as part of your ownership in the Fairmont portfolio. Each owner will have a membership to the 10,000 square foot spa and fitness facility, access to indoor and outdoor owners’ lounge areas, parking, storage, signing privileges at the Fairmont San Francisco, and some other amazing opportunities within Fairmont Hotels & Resorts, and Fairmont Residences.

All the units will come with high end materials and appliances by such names like Sub-Zero, and Wolf, and there are a number of new commercial tenants (restaurants, spa, wineries) that are planned to go into the Ghirardelli Square. The homes are fully furnished. All you have to do is show up, hit the valet (not literally), use room service, shout orders at your private chefs, waiters, and 24 hr concierge…then take off and just leave the key (after you stuff your belly with a big ice cream sundae from downstairs).

It seems like an interesting opportunity, and I invite you to go visit the sales office and check it out. There is a sales office at Ghirardelli Square, as well as one in the Fairmont downtown.

-The Fairmont Heritage Place at Ghirardelli Square [Virtual Tour]

-The Fairmont Heritage Place at Ghirardelli Square [Website].

1771 North Point: A done deal…and no price! :-(

It’s another one of those damn “non-disclosure agreements” that is going to spoil our ability to accurately track sales around the city in real time for homes, and especially trophy properties. Yes indeed, 1771 North Point is scheduled to close escrow tomorrow (July 13th, 2007), and they’re not sharing the price. Oh well…it sold, and it sold pretty darn quick, if that’s any indication of life in the world of San Francisco real estate.

1771northpointkitchen2.jpg

-1771 North Point [mls]

$1.46MM on 46th Avenue: $65,000 over, $35,000 under, or $1000 over?

How this one slipped through the cracks we’ll never know, but we thought you’d like to see a nice before and after of 838 46th Ave., and get a little scoop. Then help us decide if it sold $65,000 over, $35,000 under, or $1000 over.

Before:

83846thbefore.jpg

After:

83846thafter.jpg

83846thkit.jpg

Scoop:

Originally listed in January for $1,395,000 this beautiful 3 bed, 3 bath total remodel rebuild in the Outer Richmond had a price increase to $1,495,000 ten days later. The price was lowered in March to $1,469,000, then 10 days later (still in March) lowered to $1,459,000. The listing eventually expired (technicality, really).  Re-listed a couple days after the “expiration” (we’re still in March) at the same price of $1,459,000.  It went into contract 10 days after re-listing, then fell out 10 days after that, then went back in 10 days later (puts us at April 24) , and recently sold in May for $1,460,000 (We’re assuming multiple offers to get that price over. If not, the buyer’s agent should be fired, and the seller’s agent commended.) You follow all that?

This is a significant sale for the Outer Richmond, both in terms of price, and type of property for that area. It is also a good indication of the market now versus then (Jan).

So…help us out here. Depending on how you look at this one, it either sold $65,000 above the original asking price ($1,395,000), or $35,000 below the second asking price ($1,495,000), or $1000 above the final asking price ($1,459,000). We leave that to you to decide. Either way, the market put the price right where it should be.

Lastly, in case you were wondering, the “before” price was $795,000 in February 2005.

Regardless of everything up and down on that sale, it is a sweet house!

-838 46th Ave. [mls]

-before and afters [theFrontSteps]

-Unique Property [theFrontSteps]

[disclaimer: it may not be exactly 10 days, but pretty damn close and within a day or two. Also, there were so many ups and downs our head was spinning, so correct us if we goofed. All information and photos pulled from MLS.]

149 Mangels, the $524,000 “dump” that slid away…no fault of the property.

The money Realtor quote, “We just sold this dump for $125,000 over asking price! Imagine what your property is worth!” That dump was “built in 1909 and completed in 1910 for $750″, came on the market for $400,000 (memory tells me it was actually $399k), and sold for $524,500.

149mangels

In case you missed the article regarding 149 Mangels (that dump), the do-it-yourself foundation replacement that recently went a little…downhill, we thought we’d take this opportunity to again remind you of the importance of hiring qualified professionals to do your foundation work, but only you can make sure all the disclosures are read in detail.

“boomtime” on 1771 Northpoint…an update

We won’t even come close to taking credit for this catch. All credit goes to “boomtime”, who, if he/she would like, definitely has a seat at the Stammtisch.

1771 North Point is in contract after 2 weeks on the market for public showing!

Wagers? I guess $4.65 mil.”[asking $4,995,000]

1771northpointkitchen4.jpg

-MLS Statement

-1771 North Point, a quick follow up [theFrontSteps]

-1771 NorthPoint, a “first look”… [theFrontSteps]

1326-28 15th Avenue: A Done Deal in the Inner Sunset

132615thbeforeafter.jpg
We showed it to you first, and before and after, then we bet on it, and now it’s closed…1326-28 15th Avenue is a done deal, and none of our readers guessed the sales price. In fact, we didn’t even come close, either. It might not actually be marked sold in MLS yet, but we know the scoop, and unfortunately we can’t give you all the dirt. What we can tell you is that they were asking $1,385,000, it went for over $1.6MM, received 11 offers and was only on the market 5 days.

-Some makeup (a little), some elbow grease (a lot), some action (a ton) [sfn BLOG]
-99 Surrey, A Done Deal in Glen Park for UNDER ASKING [sfn BLOG]

1326-28 15th Avenue: an update, and wager

132615thbeforeafter.jpg
Following up to our previous post about 1326-28 15th Avenue (awesome before shots, so make sure to click that link), we know it received multiple offers, and it is scheduled to close June 4th, 2007.  We thought we’d do another little wager. We’re staying out of this one. We leave it up to you. Here are some photos, and here’s the MLS Fact Sheet, and some Inner Sunset comps to help you make a more educated decision. In case you don’t click those links, they’re asking $1,385,000.  What do you think it will sell for?
Pass this around your office and amongst your friends, post your answers in the comments, and feel free to change your guess as much as you like. Just let us know how much you win. ;-) A sort of March Madness in May.

Update: It might not actually be marked sold in MLS yet, but we know the scoop, and unfortunately we can’t give you all the dirt. What we can tell you is that they were asking $1,385,000, it went for over $1.6MM, received 11 offers and was only on the market 5 days.

-4065 25th Street: a done deal, and our fun spoiled [sfn BLOG]
-Some Makeup…a little… [sfn BLOG]

[Before photos provided by seller to us exclusively, after photos taken from MLS.]

1771 North Point: A quick follow up

1771northpointnewsiteup.jpg

Previously, we posted about 1771 North Point, and at the time we promised not to disclose the asking price, only had a link to a temporary website, and only had photos that we had taken ourselves. Ahhh, but now we have more.
They are, in fact, asking $4,995,000.  The home is 6 bedrooms, 6 baths, with 5 parking spaces, and is located in the Marina. It is the Pacific Coast Builders Showcase home.
We promised we’d let you know when the new site is up. Well…they flipped the switch a couple hours ago, and you can see more photos (87 to be exact), a virtual tour, floor plans, and all kinds of other information on the site. For the inside scoop, you’ll have to come back, cuz we got nothin’ for ya right now.

-Photos (87 to be exact) [imglynx.com]
-Our Original Post on 1771 North Point [sfn BLOG]
-1771northpoint.com [website]
-MLS Details [MLS]

1771 North Point: A First Look ™, Before-After, and Walkthrough of the 2007 Pacific Coast Builders Conference Eco-Friendly Marina Green Showcase Home

It’s not everyday a home comes along that truly makes our jaws drop, but we were given a preview of 1771 North Point , and now you’re getting a preview too. Of course, there is a story to everything, but we’ll just give you a taste.
Purchased in March of 2006 (spent 104 days on the market, zoned RH-2, 1965 sq/ft, built in 1932), this home has been completely, and we mean completely, gutted and renovated. From what we can tell, the only thing that was spared was the facade, the chimney and accompanying arches in the front room.

BEFORE:
1771northpointbefore2

1771northpointbefore
Now…it is a truly amazing home with every conceivable convenience you could possibly want and all the custom detailing to match…including a 5 car garage. We were only able to take a few “after” shots because they were still setting up furniture and artwork, which will all be auctioned off by the way, but here’s a taste.
AFTER:
1771northpointtilekitchen2

1771northpointgeo2

1771northpointkitchen
This home is amazing! Yes…we’re calling it amazing. The details are incredible! The flow and functionality of the home is awesome! There is so much light coming in, you might as well forget about buying lightbulbs for years. The south facing yard is perfect. The home is NOT on landfill, and frankly there is way too much for us to describe here. You owe it to yourself, and the Northern California Cancer Center to go visit before it hits the market.
(Disclaimer: We have no affiliation with this project at all. We were simply invited to go check it out before it was finished, and we’re glad we did.)
1771northpointgala
Seriously…go check it out.

-Pacific Coast Builders Conference 2007 [website]
-Start Drooling Now…a before, after and First Look at 4065 25th. St. [sfn BLOG]
-Some make-up (a little), some elbow-grease (a lot), some action (a ton) [sfn BLOG]
-3711 Clay…and Another Heart Broken [sfn BLOG]
-1771NorthPoint.com [new site up!]

4065 25th Street: A Done Deal, and Our Fun Spoiled

bluebottle.jpgIt appears our little Wager on 4065 25th Street, and how much over the $2,750,000 asking price it will sell, will be foiled. The parties involved have signed a confidentiality agreement, and the price will not be disclosed through MLS. (Our price guess was $2,895,900, but know it went closer to $2,950,000.) To all those that participated in our wager, thank you.  We’re calling the winners Eddy ($2.9975) and Cece ($2.9)…send us your mailing address, and we’ll send you a couple of “free drink” cards for Blue Bottle Coffee…the best tasting coffee in town. (Hayes and Embarcadero locations).

-Start Drooling Now…A before, after, and First Look at 4065 25th St. [sfn BLOG]
-Is what we’ve been saying for months finally catching on? [sfn BLOG]

733 Front Street, A Walkthrough, Details, and Opinion

733front.jpg

733frontzumllc.jpg

Generally, I don’t like to post about properties I haven’t visited in person. Now that I finally have been to 733 Front, I’m happy to share what I know and thought.

In a nutshell, 733 Front goes down as one of my favorite new developments for many reasons.  The biggest being the use of the European cabinetry in a bold burgundy color.  So nice! (Sorry, I forgot my camera.) The cabinets also open like a “garage door”, meaning you pull and they go up, not to the side.  The drawers don’t slam, and the microwave is in a drawer. Very cool.  The cabinetry makes the kitchen look smooth, sleak, and very modern.  I also really liked the two bedroom corner unit on the 3rd floor with south east views to the square.  The wood floors were great, as were the nice glass tiles in the bathrooms. The sales staff was friendly and answered pretty much anything I asked, but I promised not to divulge some information.

What I didn’t like was the use of electric cooktops, but the Thermador ranges 733 Front has chosen would be just fine for most, myself included, and you can’t do gas in a conversion building like this. I also didn’t like the parking situation. You’d think for $600,000 you’d get a parking spot, but I guess that is what is becoming of our city. If it encourages people to use public transit and/or (Gasp!) walk, then more power to them. I wasn’t terribly impressed with some of the Junior 1, and 1 bedroom units. They felt cramped. But they did have nice natural light and large windows. 

Now for some bullets and details: click “keep reading”

Continue reading

More Fun With 4065 25th Street…and a Wager?

beforedemo.jpg
Our post about 4065 25th is getting such good “traffic”, I thought it might be fun to place a little wager. The sale is set to close on Monday (5/21/07), and if you’ve been following, you’ll know that not many people felt the price was justified.  But we know they received 3 pre-emptive offers and that usually indicates a pretty hot property, and that the price is….well….justified.

Now….who’d like to wager? I’m saying $2,895,900.  What about you?  Just give us your price by commenting, and have fun.  There may be something in it for the reader that says the correct price.

-Start Drooling Now…a Before, After, and First Look ™ at 4065 25th Street [sfn BLOG]
-Some Makeup (a Little), Some Elbow Grease (a lot)… [sfn BLOG]

[DISCLAIMER: This has absolutely nothing to do with the listing agent, or any other agents associated with sfnewsletter. If you want to gripe about it, gripe to me, Alex Clark.]