April 29, 2008
Apparently The Market Couldn’t See Past The Paint (Or Could It?)
The original (and still active) listing photos for 402 Sanchez: Above
The new price: $1,234,050 (previously $1,299,000, originally $1,350,000)
The new notes: “Interior has been repainted with neutral colors” and “Now on lockbox!”
The last pre non-neutral paint and remodel sale: $1,200,000 (on 10/24/2006)
∙ Listing: 402 Sanchez (2/2) - $1,234,050 [MLS]
First Published: April 29, 2008 3:48 PM
Comments from "Plugged In" Readers
this place will go for under $1M.
Posted by: Spencer at April 29, 2008 3:59 PM
Still too expensive, in my book. This one has a ways to go, yet.
Posted by: Foolio at April 29, 2008 4:01 PM
Why not $1,234,567?
But I agree it more likely to sell for $987,654.
Posted by: sfbear at April 29, 2008 4:22 PM
Looks like District 5 could be next... This house is still overpriced @ > $1100/sqft. I've been looking for a house in 5-A, 5-C, and 9-A, something I can fix up and every one is selling at close to $1000/sqft (103 Ellsworth @ $900k+, 1779 Sanchez @ $950k+, 526 Chenerey, etc.). Who buys a fixer at $1000/sqft?
Posted by: unearthly at April 29, 2008 4:40 PM
those are neutral colors? bright pink, green and blue?? yowzer, i'd hate to see aggressive colors...
Posted by: garrett at April 29, 2008 5:11 PM
I just got a flyer from a Real Estate agent: 1779 Sanchez sold for $1M ($1033/sq ft).
Posted by: NoeValleyJim at April 29, 2008 5:25 PM
I spoke with the listing agent and he said as much. IMO > $1000/sqft for a house stuck in the 1950's is hard to justify... You can see the interior here: 1779 Sanchez. This house was actually a trust sale.
Posted by: unearthly at April 29, 2008 5:32 PM
garrett: pretty sure those pics are before the repainting
Posted by: mk92 at April 29, 2008 7:39 PM
Sorry I haven't looked at homes in this district for awhile and musta been asleep at the wheel - can someone explain why Sanchez street should command anything near $1000/sqft?? esp when we're squabbling about much smaller district 7 condos getting $925/sqft. is it the weather, noe valley families, schools, relatively low price for a SFH despite the size? thanks
Posted by: resp at April 29, 2008 7:55 PM
Is that a "sleeping loft" I see as bedroom #2?
I mean, WTF?
This is really just a 1 BR for over $1.2M.
Posted by: urban_angst at April 29, 2008 10:51 PM
Add $125K for a facade restoration. Anyone notice the asbestos shingle clad exterior? There's no shame here.
Posted by: invented at April 30, 2008 5:56 AM
In fairness, the stated square footage of a house may not include basement or porch areas etc., and a house has expansion potential compared to a condo, so it is not an apples to apples comparison.
Posted by: fred at April 30, 2008 9:26 AM
Aside from the change in paint colors, was there a change in the original listing agent?
Posted by: jamesa at April 30, 2008 9:38 AM