Last weekend, there were soooo many in walking distance of my house.
Did I not get the memo?
Did I not get the memo?
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SF Bay Area
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Re: What's up with all the open houses?
Wed, September 19, 2007 - 2:15 PMwe walked through the one on the corner of coso and prospect. it is SOOOOOO tiny! both TIC units are the tiniest things ever. they did a nice job remodeling them but they are way too small for us. 400k would be a great price... if we could fit our bed in the bedroom!! -
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Re: What's up with all the open houses?
Wed, September 19, 2007 - 2:23 PMDid you check out the "bonus rooms" down below? Are they kidding?
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Re: What's up with all the open houses?
Mon, October 22, 2007 - 2:16 PMIt looks like 2 Prospect (the one on the corner) sold, but now 6 Prospect is on the market.
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Re: What's up with all the open houses?
Sat, October 27, 2007 - 1:30 AM<What's up with all the open houses?>
Lots of people got stuck and now they're desperate to sell. You're only seeing the beginning of a free-fall in home prices. Just a couple years ago people were outbidding each other way way way over asking price. Now they're stuck with unreasonable mortgages. -
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Not in the City...
Sat, October 27, 2007 - 2:51 PMWhat you say is sadly true in most of the country and even parts of the bay area but not in San Francisco County. Prices haven't and likely won't drop here because they cost so much to begin with. The subprime fiasco doesn't normally apply to homes near a million for the simple reason the subprime borrowers can't afford them.
In fact the only homes staying on the market right now are ones listed under $500K, not many of those in SF. Bernal came on our radar 3 years ago because other than Portola and the deep Suset, it was the only neighborhood in SF where you can find a single family home for under $1M. Median selling price in Bernal is now about $900K according to Zillow.com -
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Re: Not in the City...
Sun, October 28, 2007 - 9:04 AMi've heard other real estate analysts saying the same, that prices aren't likely to come down. who knows though? i can confirm that all the ones right around us do follow that pattern, they're around 800K asking price.
2 prospect is still on the market and i think 6 prospect was gonna start taking bids on 10/22 or so, but still appears to be holding open houses so clearly they haven't closed. i wouldn't be surprised if one or both come down in the asking price, at least a little. -
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Re: Not in the City...
Mon, October 29, 2007 - 5:53 PMYou're right about 2 Prospect stil being on the market; I saw the realtor key/lock there this weekend.
Looking on Zillow, I see recent sales that were above estimate, and those at estimate (which prolly includes those that were also below estimate), so I don't I think there's a pattern. I know something just sold on Elsie for $880k, which was being offered at $800k (but the realtor said that "low" to encourage multiple bids). -
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Re: Not in the City...
Fri, November 9, 2007 - 2:15 PM2 prospect was priced a bit high, given its circumstance and the seller a bit stubborn; a bad combination these days. That said, its quite a nice place. It really works for an owner occupier rather; sadly it was ellis-acted so it can't be used as a rental. I understand that one of the two units are in contract.
As for the number of open-houses, there was a big bump in the number of houses on the market (in bernal) just after labor day (from about 16 to 35) and now that number has drifted down a bit to around 25. Interestingly the number of houses in contract has stayed constant (around 16) so demand is holding on. Last year 22 houses sold in the month of December (again in bernal) and we were left with only 2 active listings for the new year.. It will be interesting to see how things go this year.
I'll second everything that was said about the prices in SF holding on. if you look in viz valley or bayview, prices are pretty soft there, but Bernal is still pretty hot. This all has to do with the fact that those neighborhoods (again sadly) are where the sub prime loans are.
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Re: Not in the City...
Mon, November 12, 2007 - 3:30 PMEmily too mentioned it was Ellis Act'ed...but the tenant is long since gone...I'm curious to see if the new owner abides by that (and the City will investigate and enforce if it isn't).
I noticed 6 Prospect is listed as sale pending; that one seemed real cute, but there's no garage. -
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Re: Not in the City...
Tue, November 13, 2007 - 3:29 PM6 does have a garage. It's in the back, off Lundys. It's a little tricky to get into though, as the driveway is pretty steep and the garage is little. The people who live there now have two enormous SUV/trucks which they park on the street b/c they wouldn't fit into the garage. But if you had a small car you could totally park in it.
What i didn't like about #6 was the floorplan -- the upstairs has two bedrooms and no bathrooms. (This wouldn't work for me because I am LAZY ;-)
#2 has a pending sale on the upstairs but they're selling as a TIC so they're holding off until they find a buyer for the downstairs. It's cute, they did a nice job on it but it's really small and has quite low ceilings. Also, not much of a view as compared with the upstairs. Still, it's SF, it'll probably sell! -
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Re: Not in the City...
Tue, November 13, 2007 - 3:37 PMA recent peeve of mine: people living in Bernal who own SUVs. Those tanks are wider than the streets!
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