As we wrote about 454 Edinburgh in February:
It’s risky to divine too much from a single tightly cropped and catawampus interior photo. That being said, we’re seeing signs of pride of ownership (or at the very least good bones) for the single-family Excelsior home at 454 Edinburgh.
Asking $499,000 for the vacant, three bedroom (two on the main floor, one below), one bath home with a three car garage.
The listing photos were subsequently updated. And yesterday the sale of 454 Edinburgh closed escrow with a reported contract price of $608,000. It’s amazing how much a trained eye can divine from a photo.
∙ Divining The Condition Of A Potentially Divine 454 Edinburgh [SocketSite]
What’s with the crucifix in the far right window? 🙂
Nice home; still surprised at the price.
For those of you that are interested, the house was very nicely staged by Scout (http://www.yelp.com/biz/scout-oakland) and had a Pest Report pricetag of approximately $5k, which my wife and I were happy to overlook when we made our (devastatingly failing) bid. Congrats to the owners! It’s a great house.
A reality check for the bears on this site who thought this would fall to $350K. I live out in this area, and know some people who have been looking in the $500-550K range out here, and believe me there aren’t many bargains to be found. Anything under $500K needs TONS of work, and anything in decent shape is going for $600+. I don’t know how to get sales trends data for the Excelsior/Outer Mission, but I’d be surprised if prices in the area are still dropping. The area definitely took a nose dive from 700K-800K range in 2007, but I don’t see it going too much further. Anyone with more data to support or refute my sense of this market?