June 6, 2008
Too Much Green For The Hood Too Soon? (In More Ways Than One)
∙ The SocketSite Scoop: Half Of The Sunset Idea House Hits The Market [SocketSite]
∙ Sunset’s 2007 San Francisco Idea House: A Few Facts [SocketSite]
First Published: June 6, 2008 12:15 PM
Comments from "Plugged In" Readers
I can tell you why. It was was initially 907 a foot for a TIC in a pretty unsafe part of the Mission. The price reduction only took it down to 829 a foot and that was still way too much. There has never been anything approaching that price in the Central Mission and this was so far out ahead of the curve as to be ridiculous.
Posted by: fluj at June 6, 2008 12:31 PM
It's the mission... what else needs to be said.
Posted by: dotcomer at June 6, 2008 2:24 PM
So why not just cut the price until it sells? Aren't there carrying costs and taxes and such that come with home ownership? (I wouldn't know personally but I've read that that's the case).
You would think that owners would cut their price eventually in order to 'staunch the bleeding' as it were.
Also, I've heard that estate agents use something called 'comps' when setting prices for homes. Perhaps this is, as fluj noted, a lesson in what happens when you ignore the comps and just ask for whatever price you feel like.
Posted by: Next Stop: Ragnarok! at June 6, 2008 2:27 PM
I lived a block from this for a few months (and saw lots of wine/cheese/twilight showings). You could tell the people at the showings were intrigued, but standing on the sidewalk in suits from Barneys and holding wine glasses with their pinkies extended, would be a bad match for the neighborhood. It's not a terrible area. But that place is so ostentatious for being a block from the projects. I doubt people in the $1k.sq.ft. range would want to worry about being low key and street smart enough to avoid being prey. they can afford to live somewhere they can be sweetly naive and oblivious to poverty.
Posted by: hugh at June 6, 2008 2:56 PM
I've read on Curbed that the builders are pretty crooked. Unpaid bills etc...
Posted by: sf_housedude at June 9, 2008 10:23 AM
I spend a lot of time in this area and know it quite well. Yes it is working class Mission. Yes there is a lot of gang activity. Yes, all and all, one would be incredibly unlikely to come across violence on a day to day basis. But the fact of the matter is that when one needs to qualify the relative safety of an area one should not be expected to pay 800+ dollars a square foot for real estate there.
Posted by: fluj at June 9, 2008 11:05 AM
Graffiti is horrendous in this neighborhood. Been like that for the last 30 years. And so will this green house. Gangs will have a field day turning it into artwork of their own.
Posted by: Steve at June 10, 2008 12:45 AM