Purchased for $990,000 in December of 2007, the four bedroom and two bath “updated Bernal cottage” at 78 Anderson is back on the market and asking $997,000. If you think you know Bernal, now’s the time to make the call (or don’t bother with an “I told you so!”).
∙ Listing: 78 Anderson Street (4/2) – $997,000 [MLS]
Was this a flip? Seems like a nice SFH in a nice hood. A family could easily pick this up -5%. What call should we be making? Mine is $950k.
What condition was it in Dec 07? I think it will sell for $950-997k. So if updates were minor, Say $50k, it shows property only lost 5-10% value in the biggest financial crisis since the GD.
what it will sell for: $875,000.
what it should sell for: $750,000.
what it’s worth: $625,000.
what it’ll be worth in three years: $485,000
$775k.
$910K
Looks like you could fit more than 1 car in the garage…
Four bedrooms, 2 baths, and an office in 1500 sq ft?
The rooms in this place must be closets. Hard to tell with the extreme wide-angle lens used for the photos.
$900k. I wouldn’t pay it for this place though.
I think it will go for asking.
$945K
These fish eye cameras are getting out of control. Look at the width of the standard doors, almost twice the size as normal. Imagine what the space is really like.
This house is small, has crappy windows, and will probably sell in the $700 range.
“If you think you know Bernal…”
I think that I don’t know Bernal. At all. But I would be amazed if somebody paid over $900K for this unsightly cabin. But it only takes one, and this city seems to have a never-ending (albeit dwindling) supply of “ones.” I’ll agree with two beers and say $875 despite it probably being worth $625.
Hard to imagine anyone paying a million bucks to live in Bernal unless the place was big, had killer northern views, and was very nicely done. This seems to have only the last (at least on the inside; the outside is pretty ugly).
850k — assuming the 729k conforming limits remain in place.
Here’s some competition that is “coming soon.” The house at 145 Ellsworth (4/3 2620 sq.ft.) had a NOTS filed on September 14. RealtyTrac is indicating an unpaid balance of $910k, and the SF Recorder’s site shows that these folks made yearly trips to the home ATM (not that there’s anything wrong with that as there appears to have been a ~$200k remodel circa 2002 permits).
two beers: i think you’re a little over giddy about the prospect of a drop in prices. real estate is going to drop more than 50% in less than 5 years? It’s never happened before. it only dropped ~30% in the great depression.
that said, is this place worth $1mm? probably not, but we’ll find out soon enough.
has anyone seen 44 nevada? 3/2 @ $89K. it’s $890 per sq ft. who’s gonna pay that for bernal? crazy. . .
820K
i think you’re a little over giddy about the prospect of a drop in prices. real estate is going to drop more than 50% in less than 5 years? It’s never happened before. it only dropped ~30% in the great depression.
The RE market wasn’t an over-inflated bubble prior to the great depression.
RE prices in Manhattan dropped 40% during the early 90s.
50% drop sounds reasonable to me.
Is this north slope? I remember someone saying north slope was the best in Bernal…
No, it isn’t on the north slope. It’s just about atop the south slope.
And you still think it’ll go for asking, anonn?
Yeah, or right around asking. People seem to like those properties up there a lot. They’re very “country in the city” and they usually seem to sell pretty quickly.
Ummmmmm……..where’s the fridge? Under the counter somewhere?
I had the same thought, Fishchum, but then remembered that the kitchen looks bigger than 7×7 only because of the ridiculously wide lens angle. The fridge is probably on the wall that’s cropped ou of the picture, i.e., two inches from the door (and three feet from the stove).
I think it will go for 900k, but not sure its worth more than 775k
Wouldn’t be surprised if it’s in contract at asking, considering that anonn actually made a prediction.
Anonn, thanks for sticking around, you’ve been taking a heap of abuse these days. It appears that all three featured peak of the South slope properties are contingent (this one, 82 Ellsworth, and a third one that I forgot). Hopefully one of these can provide some solace (maybe this one!)
Yeah, the Anderson property got into contract in just under two weeks. Eleven days after I commented. Thanks EBGuy, but I don’t even consider it abuse. I consider it “hobbyist versus pro.” So it’s no contest, every single time. What’s weird is that I’ll say something, eight people who aren’t anywhere near the marketplace will say stuff to me, I’ll defend myself, and then some clown will say something he saw somebody else say on the internet 20 times. Something about nervous breakdown, something about a straw man, something lame and without individual thought. Just ’cause you see somebody’s name five times doesn’t mean they’re freaking out. (It’s a funny thing about the way people read on the internet.) Regardless, I don’t think a single person actually in the market has ever said a cross word.
On 11/11/2009, this closed for $1,062,000