Where readers ask and we (everyone reading) try to answer:
Can you guys comment or get readers to comment on 439 Clipper in Noe? Yes, it’s marketed as a fixer but the price is $699k for an Single Family Residence in Noe. I honestly didn’t think you could buy a tear-down or even a lot in Noe for that price. I did a drive-by and it doesn’t look like a tear-down.
I’d be very curious to know if anyone’s seen the inside, knows the rest of the story, has the scoop or whatever. I plan to check out the open house next weekend… Thanks.
Since it is a sunny day, the winds are offshore, and the swell is still here, we are going to defer to the readers on this one, and insert obligatory “out of office” statement here. Back soon.
–439 Clipper [Redfin detail page]
I briefly walked in just before closing. The previous owner had a lot of pets, and they have left their “mark” in the house. He may have died there as well, which doesn’t help.
As I was told animal urine is impossible to really get rid of, and as you said the Anderson-ish facade would make it challenging to tear down. The house *really* smells, never seen anything like that in my life.
I was there yesterday. It was swarmed with people, dogs mess did not deter many. The owner did not die there according to the realtor. One thing about this property is that it is only a two bedroom house. Either someone needs to gut it and blow it out and up, or it’s rather smallish. They priced it at 699K, going back to what people realtors were doing in Noe two or three years ago. Back then we saw a lot of 699 angling for 850. So we’ll see.
It will surely sell and over asking, all I was saying that a house on a lot is often a liability.
Empty lots are more valuable than some homes, especially homes that have a curb appeal. 1409 Sanchez is worth more than Clipper, just because it’s likely to be easier to get a demo permit.
Most developers probably wouldn’t even try for a demo permit. No, the play would be to do all that is possible under the building/planning term “remodel.” For this one I think the play would be to open up the main floor as much as possible and do a three story addition in the rear of the property. The next door neighbor has a garage, so a garage is do-able with a lot of excavation too.
Saw a house similar to this one last year listed at 750K and sold for 900K.
Good value compared to this that sold for $400K+ over asking to $1,045/sqft!
http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N818332573,-N215562,-N,-A,-N11302989
I tried posting on SocketSite in their Noe Valley category, and got all three of my postings deleted.
Jee, only 8 postings, with one house selling for 400K over, the other for 100K+ over. I WONDER WHY? No wonder I hear so many people mock Adam Koval as a 40 year old Virgin, I mean 40 Year Old Renter. :)
LLL
I had a client who wanted to write on this one. But it’s going to get about 10 offers and word has it several of them have dangled the prospect of “all cash.” We were going to write at a reasonable number of points above asking, considering the property needs 300K bare minimum in order to be decent. After factoring all that in we decided not to waste our time. This one is going to go for 900K+, I bet.
kenny.. or 1.5M all cash like the Alvarado one ;-)
there is a tear down not that far which sold VERY recently for 800K for the ’empty’ lot. so pricing anything below .8 (the empty lot) starts to be ridiculous. it only brings a lot of foot traffic and creates more bitterness and frustration – which translates into two groups: those who will overbid unreasonably on the next house, and those who give up buying altogether. – both groups making the market even worse (worse as in unhealthy).
Not sure it’s an appropriate selling approach – neither short term, nor long term.
It’s already in contract, no contingency offer.
I’d bet it’s in the 9s, but as Sophie said there are plenty of irrational people out there
Went for 850K. Surprising huh? I would have thought at least 950K
Like I said above, a few years ago everything “fixer Noe” was priced at 699 and sold for 850. That’s what this one did. But yeah, given all the activity I thought it might go for into the 9’s. Then again, it was a doghouse with no garage!