SocketSite™

A 12/2005 apple?

http://www.redfin.com/CA/San-Francisco/740-Bay-St-94109/home/1365329

In any case, the crystal ball is a little cloudy but I see assorted painful scenarios like multiple reductions, stalefish and/or withdrawl without sale.

Busy street isn't exactly a plus, but something this close to the Pier 39 et al could be attractive as a vacation rental if done up right.

723 Bay St sold 10/24/08 for $1,750,000 isn't exactly an apple, but the best recent sales comp there is -- could 740 become this?

I thought this looked like a place where permitted were denied or given up on, but actually no permits have been applied for. There is a complaint on file that it is structurally unsound and falling into the neighbor.

This one shows "Tax Defaulted" on the tax records.

Tough to tell exactly what is going on - it looks to have been purchased for $1,000,000 at the end of 2005, with $300K put down in the first loss position. But then a few months later, in February 2006, the purchaser looks (perhaps) to have transferred the property to a TIC structure, recording a $250K mortgage. Perhaps someone with access to better data could fill in the details.

I had heard that this property sold for $1.5MM when I lived next door at 736 Bay St. in 2005. The building I was living in and the two unit directly behind 736 Bay was also sold around the same time for $1.2MM and $800K respectively. The new owner of 740 Bay never moved in though and decided to rent it out. When I saw the place, the foundation was cracked pretty bad, the floor was warped and sloping in various areas of the house, and a temporary foundation was put in to prevent the structure from sliding into the building next door. The garage in front of the house also showed numerous large cracks. The house should be leveled, but I am sure some preservationists will further delay that since this building has been there since 1900. Though it's situated close to some cool areas of the city, it lacks a neighborhood feel being so close to noisy Bay St.

Please kill the term "peek-a-boo view."

I don't want to have to play idiot baby games to get a view. I'll set up a chair in the right place, instead.

So call it a "limited view" or "incidental view" or "telescopic view." Or even "glory hole view." Just not "peek-a-boo."

LOL, Theo. I'm with you. It's like saying the house has two potties.

"peephole" would be more appropriate. Plus it preserves the "pee".

Wow, that is one ugly backside of the neighbor's house on the right (the salmon colored kludgewall)

There's a better peephole view on photo #11

What I meant to say was it's like saying a house with 2 bathrooms has 2 potties. Why the baby talk when describing the features of a house?

I agree, but one should say 2 potties if it has 2 biddies. (bidets)
:)

clearly this isn't really a "view", but I wonder: could the new owner build a platform on the far end of their back yard, that way they'd have a good view between those two buildings? (and into those two buildings!)

the listing does say it's "loads of potential for contractors". when I use my Real estate to English dictionary that usually means it has big problems that need professional help.

if it's just cosmetic stuff I often see "handyman special" instead of "contractor"

it really is silly that we need to use Real Estate to English dictionaries, but there it is.

Ok... dont attack me for asking... but does the (for the six million dollar man) mean?

The six million comment is in regards to the super eye sight that the bionic man had in the show

The asking price for 740 Bay Street has been reduced to $999,000. Purchased for a reported $1,000,000 in December of 2005.

The listing for 740 Bay Street has been withdrawn without a sale.

Another homeowner trapped in their home. Can't sell for what they paid, cant bring cash to the closing, and in all likelihood the mortgage is about to recast because of the negative amortization cap, and they can't afford that either.

I wonder when all of this finally blows up? My guess is, pretty soon. What a sad, sad day that will be for homeowners everywhere. Including the ones who just bought.