It is a very nice mid 1930s Spanish style Sunset style home, located in Mission Terrace, which is not in the "hottest" area of town in terms of real estate, but still, moderately good area. The Mission Terrace area has an interesting contrast in qualities. It's a family friendly area with lots of beautiful, well-kept homes. It's near the freeway and somewhat near the more expensive Glen Park area, which has a village feel with a very few very nice restaurants. Prices here tend to be moderately high. At the same time, it's just east of an area of the Excelsior that has a relatively high crime rate. The crime spills over into Mission Terrace through street robberies (similar problem as Glen Park, but seems like more street robberies in Mission Terrace). I know because I pay attention to the Ingleside Police Blotter.
The house itself looks renovated (but with cool original living room detailing and fireplace), with new floors, beautiful new kitchen, two bedrooms upstairs, well kept side patio, a beautiful downstairs social room that looks original to the house (based on the faux fireplace and detailing downstairs) - though the square footage is listed at 1,251 square feet, which would indicate that the square footage doesn't include the downstairs. In other words, this is a top-of-the-line Sunset style home. If this house were in the Outer Sunset or Parkside, this home could conceivably sell for $900,000, higher than any other type of Sunset style home other than ones built by known architects like Oliver Rousseau.
Well, this house did sell for over $900,000 anyway. Listed at $749,000, then listing adjusted to $759,000, this house ultimately sold for $950,000, all cash! In other words, almost $200,000, or 25% above asking. On redfin.com, Davis Pemstein writes about the sale, “18 total offers on this really nice property in Mission Terrace. We came in ~13% above list and waived our inspection. We finished in the top 3rd of the offers. Per the listing agent, an all cash, non-contingent offer was accepted well above our price.” The sold price is way over what other homes are selling for in the area. For comparison, a house sold literally two blocks away from it at nearly the same time, http://www.redfin.com/CA/San-Francisco/259-Otsego-Ave-94112/home/1997070 , with similar square footage (but interior is nowhere near as nice, but still okay) sold for $620,000.
Wow. It is a top of the line Sunset style home, but still. All I can write is, the buyer must have really liked the home!
Tuesday, April 2, 2013
Rising Home Prices in San Francisco
Rising home prices in San Francisco? Gee, I hadn't noticed. It feels like the best time I could have bought a house was Fall 2011. Oh well. I saw a pretty interesting sale the other day that caught my eye.
http://www.redfin.com/CA/San-Francisco/207-San-Juan-Ave-94112/home/1352022
From Google Maps:
It is a very nice mid 1930s Spanish style Sunset style home, located in Mission Terrace, which is not in the "hottest" area of town in terms of real estate, but still, moderately good area. The Mission Terrace area has an interesting contrast in qualities. It's a family friendly area with lots of beautiful, well-kept homes. It's near the freeway and somewhat near the more expensive Glen Park area, which has a village feel with a very few very nice restaurants. Prices here tend to be moderately high. At the same time, it's just east of an area of the Excelsior that has a relatively high crime rate. The crime spills over into Mission Terrace through street robberies (similar problem as Glen Park, but seems like more street robberies in Mission Terrace). I know because I pay attention to the Ingleside Police Blotter.
The house itself looks renovated (but with cool original living room detailing and fireplace), with new floors, beautiful new kitchen, two bedrooms upstairs, well kept side patio, a beautiful downstairs social room that looks original to the house (based on the faux fireplace and detailing downstairs) - though the square footage is listed at 1,251 square feet, which would indicate that the square footage doesn't include the downstairs. In other words, this is a top-of-the-line Sunset style home. If this house were in the Outer Sunset or Parkside, this home could conceivably sell for $900,000, higher than any other type of Sunset style home other than ones built by known architects like Oliver Rousseau.
Well, this house did sell for over $900,000 anyway. Listed at $749,000, then listing adjusted to $759,000, this house ultimately sold for $950,000, all cash! In other words, almost $200,000, or 25% above asking. On redfin.com, Davis Pemstein writes about the sale, “18 total offers on this really nice property in Mission Terrace. We came in ~13% above list and waived our inspection. We finished in the top 3rd of the offers. Per the listing agent, an all cash, non-contingent offer was accepted well above our price.” The sold price is way over what other homes are selling for in the area. For comparison, a house sold literally two blocks away from it at nearly the same time, http://www.redfin.com/CA/San-Francisco/259-Otsego-Ave-94112/home/1997070 , with similar square footage (but interior is nowhere near as nice, but still okay) sold for $620,000.
Wow. It is a top of the line Sunset style home, but still. All I can write is, the buyer must have really liked the home!
It is a very nice mid 1930s Spanish style Sunset style home, located in Mission Terrace, which is not in the "hottest" area of town in terms of real estate, but still, moderately good area. The Mission Terrace area has an interesting contrast in qualities. It's a family friendly area with lots of beautiful, well-kept homes. It's near the freeway and somewhat near the more expensive Glen Park area, which has a village feel with a very few very nice restaurants. Prices here tend to be moderately high. At the same time, it's just east of an area of the Excelsior that has a relatively high crime rate. The crime spills over into Mission Terrace through street robberies (similar problem as Glen Park, but seems like more street robberies in Mission Terrace). I know because I pay attention to the Ingleside Police Blotter.
The house itself looks renovated (but with cool original living room detailing and fireplace), with new floors, beautiful new kitchen, two bedrooms upstairs, well kept side patio, a beautiful downstairs social room that looks original to the house (based on the faux fireplace and detailing downstairs) - though the square footage is listed at 1,251 square feet, which would indicate that the square footage doesn't include the downstairs. In other words, this is a top-of-the-line Sunset style home. If this house were in the Outer Sunset or Parkside, this home could conceivably sell for $900,000, higher than any other type of Sunset style home other than ones built by known architects like Oliver Rousseau.
Well, this house did sell for over $900,000 anyway. Listed at $749,000, then listing adjusted to $759,000, this house ultimately sold for $950,000, all cash! In other words, almost $200,000, or 25% above asking. On redfin.com, Davis Pemstein writes about the sale, “18 total offers on this really nice property in Mission Terrace. We came in ~13% above list and waived our inspection. We finished in the top 3rd of the offers. Per the listing agent, an all cash, non-contingent offer was accepted well above our price.” The sold price is way over what other homes are selling for in the area. For comparison, a house sold literally two blocks away from it at nearly the same time, http://www.redfin.com/CA/San-Francisco/259-Otsego-Ave-94112/home/1997070 , with similar square footage (but interior is nowhere near as nice, but still okay) sold for $620,000.
Wow. It is a top of the line Sunset style home, but still. All I can write is, the buyer must have really liked the home!
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It's crazy out there.
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