December 9, 2010
If Homes In Bayview Are Selling For
In August 2006 it sold for $550,000 as a fixer, was remodeled (including the addition of two bedrooms and a bath), and then flipped four months later for $770,000 which not only established a neighborhood "comp" but justification for prices elsewhere in San Francisco ("If homes in Bayview are selling for $770,000…").
In October 2008 the single-family home at 1747 La Salle returned to the market asking $560,000 but failed to sell. The home has since been "reconstructed" ("Everything in the home is brand new") and was re-priced at $450,000 ("a must see, won’t last") this past September. And for the past month they’ve been asking $375,000.
Listing: 1747 La Salle Avenue (5/3) - $375,000 [MLS]
First Published: December 9, 2010 12:00 PM
Comments from "Plugged In" Readers
"Great for a first time buyer" because experienced buyers wouldn't consider buying it?
Love the pictures - all of the outside of this 'redone' house. The shot of the tree really gets me interested in the house. Why not just take pictures of the clouds in the sky over the house?
Posted by: Marcie at December 9, 2010 12:02 PM
Because it's actually in a relatively affordable price range.
Posted by: badlydrawnbear at December 9, 2010 12:10 PM
Very helpful to have all those pictures of the portion of the house that is claimed to be remodeled.
Posted by: sfrenegade at December 9, 2010 1:05 PM
A friend of mine told me there were bunches of houses in Bay View for cheap cheap cheap and I didn't believe it. I checked Zillow - It's true. I think you should do some photo tours. If those prices are for livable houses, I think many moderate income San Franciscans would check it out.
Posted by: lark at December 9, 2010 1:11 PM
Yeah, and they should be treated to a private showing of "Sucker Free City" as a bonus from their Realtor.
Posted by: lol at December 9, 2010 1:25 PM
And with all the money you save, you can hire an armed guard to walk you to the muni stop.
Posted by: jason at December 9, 2010 1:29 PM
A good deal at $175,000.
Posted by: Tweety at December 9, 2010 1:47 PM
Ahem. I grew up in a scarier neighborhood than the Bay View. I'm not a suburban tweetie bird. You?
In such neighborhoods, it's block by block. You can use the 15K-20K you save every year on your cheapie house to pay for private school, or college fund, or starting your own biz, or...
Note - some people have stuff they want to do in their lives other than:
1. be subject to the whims of the landlord.
2. Or, pay over 50% of income to the the bank on mortgage note.
Posted by: lark at December 9, 2010 1:51 PM
reinforces my view of how to value a home in the "real SF".
Premium for keeping people you don't want living around you from buying: 80%
god what a jerk i am.
Posted by: resp at December 9, 2010 2:02 PM
you little overachiever are overpaying by 10%...
Posted by: lol at December 9, 2010 2:07 PM
I've lived in a neighborhood (in NY) where a private security service was hired to patrol the public streets. Is that allowed in SF?
In the case I mentioned, the service was hired by a small group of wealthy residents, but suppose a wider community organization could do the same with the money saved living in a lower priced area.
Posted by: John at December 9, 2010 2:32 PM
I used to be on the Board of Directors for one of San Francisco's Community Benefit Districts (CBD). Most CBD's employ some type of additional security or street presence, either privately or by "paying for" additional police officers known as 10-B officers. It's all funded through a voter-approved special property tax assessment for the neighborhood.
Posted by: jason at December 9, 2010 2:41 PM
Wow this place is 1 block over from 3rd and Newcomb! I wonder if the "Playas Clubs" are still there from the late 90s.
Posted by: 4tay at December 9, 2010 3:12 PM
I agree with Lark, I live in the Bayview and it is very much block by block, on one side of the hill or the other and changing block by block. Only thing not changing is the stigma that the very ignorant have, and who don't know the difference between Hunters Point/Bayview/Bayview Terrace, and if your not an entry level buyer, or have entry level finances not sure what leg you have to stand on in a discussion of the Bayview.
There are a number of homes throughout the Bayview that are on decent blocks, that simply need work, and TLC. Right now i see a lot of contractors coming in, doing rehab work, and selling. Flipping is alive (with reduced return expectations) and those buying are the ones who will remake a neighborhood. Is all the Bayview "the hood"? Absolutely not, and as the neighborhood continues to gentrify it may soon be full of homeowners who got a good deal, have some disposable income, have some equity, and find themselves in a truly connected part of the City.
But hey more power to those who thumb their nose up seemingly for the chance to control what their neighbor might do, might drive, (like resp said) while ultimately praying their house wont be the next one to appear on Socketsite selling at a double digit percentage below a 2006 or 2002 comp.
Buy a place and make it a place you call home and if fortune strikes keep moving on up, seems hell of a lot better than telling someone you once had a home somewhere before you lost it all and couldn't keep up, all from that apartment you didn't want in the first place. It would be a different story if the Bayview was still stagnant, but its changing, growing and yes gentrifying.
Posted by: Rob at December 9, 2010 3:20 PM
Doesn't Presidio Terrace have a private security service?
Posted by: HappyRenter at December 9, 2010 3:21 PM
most. random. pictures. ever.
1) pic of outdoor steps up to a window
2) presumably the reverse pic of above, looking down stairs at a tree
3) random pic of part of the yard and a tree
4) pic of the other half of the yard, the Dish TV receiver, and a woodshed
5) Garage door.
honestly, what are these people thinking? did the Realtor not get a key? was s/he afraid to walk around the neighborhood so they just ran around the house taking 5 quick cell phone pictures? is there a black hole inside that sucks all light making picture-taking impossible?
maybe this isn't a listing to sell the HOUSE... maybe it's a listing to sell the entryway to a homeless person?
I mean c'mon.
that said: I always like trees.
Posted by: ex SF-er at December 9, 2010 3:42 PM
The link for this house is a joke. No indoor pictures of a supposedly remodeled house? What you can see of the back yard looks totally unkempt and weed-strewn. I'm not frightened of the neighborhood but I am of what I expect to see if I actually visited this property. If it looked good, they wouldn't hide it.
Posted by: BT at December 9, 2010 4:26 PM
Having been one of those looking for a "starter" home in SF a couple of years back (yes, near the peak) I noticed a few names kept popping up on the realtor signs out front. And yet they did a really BAD job of marketing (used condoms in the bedroom, porn in the garage, or perhaps dead birds in the fireplace). I chalked it up to market conditions.
Since then I've noticed some of those same names still around, and still doing a BAD job. Carmen (of this LaSalle place) isn't a name I recognize, but I wonder how many agents get these listings even though they do minimal effort only because they can honestly say to clients "trust me, I've listed dozens of places just like yours".
Posted by: Average Joe at December 9, 2010 5:20 PM
Rob I have been to Bayview and would rather pay you to live their then ever visit again. I have a few relatives that live there and I've only been to their houses once. You need to have an armed guard or police to feel safe I don't care what side of the street you are on. I'm glad you live there and enjoy it, someone needs to live on that side of the city. In order for SF to prosper the poor and crazy must live somewhere. It will take years before that area is even worth looking at not even worth the investment.
Happy Renter yes they have a private security service.
Posted by: Marina Boy at December 9, 2010 10:41 PM
So it begs the question...where in the Bayview were you? I wont assume that you live in the Marina, but i'll err against that assumption based on your own handle. And I would guess that IF you spend all your time in the Marina you probably would feel that way about the Bayview, god forbid not everyone blow a mortgage payment in rent (or more) on 800 sq ft. or less, and that there actually be some population diversity across many lines, it is a City after all, and not meant to be socially and economically homogeneous.
Like i said it can still be very much block to block, one side of the hill or the other, and buying is speculatory as goes with (gentrification and redevelopment) and there are places in the Bayview i wouldn't want to go skipping down the street either. But I dont prentend to live in the suburbs either, while trying to live in the City. Clearly you are not looking to buy, and if so your starter level starts elsewhere, good for you. I am not poor, nor crazy, and seems to me that given current lending requirements "poor" also do not buy homes and we are talking about buying in case you forgot.
To each their own, live as you choose, where you choose, I simply object to the long uttered, ignorant point of view that suggests the Bayview is across the books a war zone and is nothing but the projects people see when they go to Candlestick. Not long ago people wouldn't go into Potrero Hill or Dogpatch either. Things can and do change, and plans to level the projects certainly speak to change. Btw Happy Holidays, guessing you wont be visiting relatives?
Posted by: Rob at December 10, 2010 12:53 PM
Someone at the end of 2006 thought this was worth $770k?? Classic.
Down more than 50%. Thanks for the laugh, socketsite. All this post needs is a few "not the real SF" and prices "by and large are only down 5-10%" comments to put one in the holiday mood!
Posted by: El Bombero at December 10, 2010 1:00 PM
"But I dont prentend to live in the suburbs either, while trying to live in the City."
I'm not sure what this sentence even means, but wouldn't it be better for most people who are desperate to buy "something...anything" to be in Daly City rather than Bayview unless you really wanted to be able to say you have an SF postal address? At that point your commute and getting to amenities in SF is shorter via BART, and your commute is just as easy via car if you work on the Peninsula.
Posted by: sfrenegade at December 10, 2010 1:33 PM
I don't think many are pretending to live in the suburbs in SF. That would mean 3000sf on a 1/4 acre lot. Even Google employees in NV only get 0.07 acre for their cool 2 Mil with a tunnel-like house that maximizes the 25 foot lot. For 600K you can get real suburbia in Sunnyvale with enough backyard space to see your kids run or (gasp) even swim.
Posted by: lol at December 10, 2010 1:59 PM
If I had to, I would choose Bay View (on a good block) over Daly City. No comparison - the weather is so much better. Also easier to get to downtown.
Posted by: lark at December 10, 2010 2:21 PM