May 21, 2013

Before And After And Back On The Market In Mission Dolores

Purchased for $1,400,000 seven months ago, the appliances within 3650 20th Street’s kitchen have since been upgraded with a better class of stainless steel, a proper hood has been installed over the stove, and the cabinets have been painted.

The living room nook which had been listed as "an open bar area for cocktails...an office or child's play area" (priorities people, priorities) is now outfitted with a dining room table.

And the four-bedroom Mission Dolores condo is now back on the market for $1,495,000.

∙ Listing: 3650 20th Street (4/2) 1,987 sqft - $1,495,000 [via Redfin]

First Published: May 21, 2013 12:00 PM

Comments from "Plugged In" Readers

This will be interesting to watch. The appreciation in this general area over the last 1-2 years has been stunning. Here are a few examples from redfin this morning:

3354 22nd (b/t Valencia and Guerrero): just sold for $950,000, after last selling at the "top of the bubble" (May 2007) for $770,000.

23 Belcher (b/t 14th & Duboce): just sold for $1,240,000, after selling for $885,000 in July 2011 and $1,051,000 back in 2005.

85 Linda (b/t 18th and 19th): cute but tiny art-deco fixer, just sold for $1,800,000. I remember a similar fixer on the same block selling for about $1M in 2005/2006, and a gorgeous, architect-remodeled 3000 sqft home across the street (48 Linda) sold in June 2010 for $2,149,000.

Posted by: observant neighbor at May 21, 2013 1:03 PM

Re: 85 Linda, it looks to be quite expensive for a fixer. Not that I'm confidently calling this the inflection point of the current bubble, but it does make me curious for those that went through the last bubble: was there a SFH transaction that impressed you as "this has gotta be the peak of the bubble"?

Posted by: jack at May 21, 2013 2:53 PM

I hate looking at animal heads in listings. Ick.

I would have preferred the microwave hood to a plain ol' hood. Unless they have relocated the microwave, I don't want to take up counter space for it.

Posted by: Lori at May 21, 2013 3:25 PM

If they set that nook up with an open bar for the open house, I'll be there.

Posted by: Rillion at May 21, 2013 4:17 PM

Lots of bedrooms but small/living dining space. Gotta think the seller will be lucky to break even with such a short hold even in this market.

Posted by: Willow at May 21, 2013 9:04 PM

^Agreed

I know this place well and remember it being sold. The buyers (current sellers) were a youngish couple and one works at Google. My first question would be why they want to sell the place after such a short time. Perhaps the one car parking and people constantly your driveway got to them. I love this area to rent, but not to own.

They have priced it hoping to break even after the commission has been extracted.

Posted by: chad n. freud at May 21, 2013 10:33 PM

Animal heads are cosmetic, microwave hoods can easily be acquired and youngish professional couples get relocated to other jobs even when their houses are this great. This house is the shit. 4 bangin' BRs in a killer neighborhood. and i would keep the antelope.

Posted by: Oliver Pendleton at May 22, 2013 8:36 AM

^ agreed

Great bones. Highly functional layout, high ceilings all with moldings, hardwood throughout, one of the largest master suites i've seen in the city. Kind of surprised this has made it a week in this market.

Posted by: curious at May 22, 2013 9:39 AM

i still want to know why they are leaving after 7 months. Could be a perfectly logical explanation but i still want to hear it for a $1.5mm price tag. It would imprudent to just assume they are selling it so soon for only professional reasons.

The only downside to the this place is the parking. One spot and its very small. Lots of people also like to block this driveway because the neighborhood is so popular for dining etc..

Posted by: chad n. freud at May 22, 2013 10:14 AM

"...i still want to hear [the explanation for selling so soon] for a $1.5mm price tag"

If the reason were something negative to the property like "neighbor is a jerk" or "house haunted and smells like rotting meat" then I doubt you'll get an honest answer. I do not see the point in asking this question because whether or not the reason is benign, you'll get an answer that sounds benign, truthful or not.

Posted by: The Milkshake of Despair at May 22, 2013 10:27 AM

^^^exactly

if they give a lame or canned response i would assume its a problem with the property and i would bid accordingly. That's all i am saying.

My cynical nature would just assume something is wrong with the property unless proven otherwise. Others may think differently.

Posted by: chad n. freud at May 22, 2013 10:33 AM

I asked the agent - she was open about it. Unexpected out of state job.

Posted by: curious at May 22, 2013 10:41 AM

They picked a pretty bad time to sell, right when parents are getting ready for the end of the school year, as well as Memorial day weekend with many people scheduling, or on, their vacations. It's second only to the winter holiday season as a poor time to sell.

Posted by: lyqwyd at May 22, 2013 10:50 AM

I believe that you can get "unexpected out of state job" in normal cans, pull-top cans, and screw top jars. Also available dehydrated in mylar packs.

Posted by: The Milkshake of Despair at May 22, 2013 10:55 AM

Chad, for a cynic you sure are horny for this place. why don't you buy it? and wait, the agent said it was a job transfer, just like i said. SNAP!

Also i think milkshake writing haunted house/ rotting meat/ neighbor jerk is pretty obnoxious without any information. i think you should apologize.

we should sit down and have a coffee sometime you guys. lets talk (hug) it out. We live but once chad. Milkshake, lets make it special.

Posted by: Oliver Pendleton at May 22, 2013 11:04 AM

Good to know.

If its truly an professional opportunity, hopefully the the company will make them whole if they are forced to sell and take a loss...that not unusual for many executive moves.

Posted by: chad n. freud at May 22, 2013 11:07 AM

Very little of what the Milkshake if Despair says has any thought behind it

Posted by: Truth at May 22, 2013 12:03 PM

Having to sell this kind of property in this neighborhood must be a heart breaker. I could do house-sitting while they are gone ;)

Also, the market has gained a solid 10% since the purchase, which makes me think they'll come out OK. The timing is a big unknown though.

Posted by: lol at May 22, 2013 12:29 PM

Gee Truth, that's a reach of a conclusion to draw being that you're a "newcomer" to this site. Unless you're just another of fluj's sock puppets.

For what its worth that "smells like rotting meat" comment was not about this property, I've never been in it. It was a general comment that quick turnovers like this are never explained in anything close to a negative light.

The reason given is almost always "sudden transfer out of state". Never "Holy &#*@, I can't afford this!" or "Heeeey! The market is looking really flipilicious!".

Posted by: The Milkshake of Despair at May 22, 2013 12:39 PM

Oliver,

i knew both the existing buyer and the previous seller so i have personal ties to the property..I appreciate the humor though.

Posted by: chad n. freud at May 22, 2013 1:20 PM

"i knew both the existing buyer and the previous seller so i have personal ties to the property" Chad

"i still want to know why they are leaving after 7 months" Chad

Obviously not that personal a tie if you don't know why they are leaving.

Posted by: R at May 22, 2013 2:11 PM

Nope didnt know them very well...otherwise i wouldnt be asking

Posted by: chad n. freud at May 22, 2013 2:19 PM

No it is easy milkshaken between the 49ers comment, this one, and the Polk st thread. You just fire stuff off.

Posted by: Truth at May 22, 2013 6:12 PM

chad, i'm happy you are laughing cause humor is what makes the world go round. speaking of humor have you ever seen the film turner and hooch? it's really funny. anyways i hope to check out this place today and report back to you all. also since you know them what does the youngish couple look like? i have an abercrombie and fitch approach to properties wherein i can only live where gorgeous people have lived. here's a link to the film: http://en.wikipedia.org/wiki/Turner_%26_Hooch

Posted by: Oliver Pendleton at May 23, 2013 6:44 AM

Is

chad n. freud

really being trying to be clever

Schadenfreude

Posted by: conifer at May 23, 2013 7:26 AM

Milkshake, yeah I'm getting a very familar vibe from 'Truth'.

Posted by: Rillion at May 23, 2013 9:32 AM

Truth is "out there" as they say

Posted by: lol at May 23, 2013 5:46 PM

Yes, cnf is trying to be cleaver. Very amusing. :)

Posted by: eddy at May 23, 2013 5:55 PM

Saw it. Loved it. Bid above asking and lost. Stoopid mission market.

Posted by: Oliver Pendleton at May 23, 2013 9:31 PM

The sale of 3650 20th Street closed escrow today with a reported contract price of $1,650,000, ten percent over asking and eighteen percent over its purchase price of eight months ago. And no, it wasn't a $250,000 remodeling job but it did pay big dividends.

Posted by: SocketSite at June 17, 2013 1:34 PM

Looks like a <$25k remodeling job. Cabinet painting/tile/appliances. Bubble anyone? 18% in 8 months!!!

Posted by: adrian at June 18, 2013 10:05 AM

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