August 13, 2013
Twice The Price Of Two Years Ago, Time To Repaint?
Foreclosed upon in 2009 with nearly $3 million owed at the time, the Pacific Heights home at 2523 Steiner returned to the market listed for $1,450,000 in 2011, was repainted three times in quick succession, and then sold for $1,260,000 that May.
Without any permits to remodel having been issued since purchased, and still sporting the same coat of exterior paint, the three-bedroom home with a rather challenging floor plan is now back on the market and listed for $2,450,000, this time with 1,730 square feet.
∙ Listing: 2523 Steiner (3/3.5) 1,730 sqft - $2,450,000 [Redfin]
∙ Pacific Heights For 50 Percent Below 2006 Expectations And Debt [SocketSite]
∙ Oh No They’re Not, Oh Yes They Are At 2523 Steiner Again [SocketSite]
∙ Will The Third Time Be The Chocolatey Color Charm For 2523 Steiner? [SocketSite]
First Published: August 13, 2013 9:30 AM
Comments from "Plugged In" Readers
Odd, the listing claims to be completely remodeled. It seems they may have opened up some space and added some footage (400 square feet)??
Posted by: SciLaw at August 13, 2013 10:06 AM
wouldn't a prospective buyer want to see the (non-existent in this case) inspection report?
Posted by: asiagoSF at August 13, 2013 10:17 AM
Keep in mind there could be record errors/snafus with the city permit database. I can't imagine someone doing a serious remodel on a high end home like this w/o permits. That would be *real* dumb.
Posted by: 49yo hipster at August 13, 2013 12:18 PM
Ugh.. no.. just no..
Still probably the worst property is Pacific Heights proper. It should be demolished. I can't imagine anything in here is to code, so I was really surprised that it sold for over 1 million a couple of years ago. Caveat Emptor. Anyone thinking 2.5 for this POS is a steal is in for a world of hurt.
Posted by: Denis at August 13, 2013 1:49 PM
The last time this was listed, it got scathing comments on here. Not believing any house could actually be that bad, I went to take a look. In fact, it's one of the worst designed homes I have ever seen. A warren of small rooms, awkward spaces, and terrible flow. (Note the small bathroom on three levels. The sink on one level, step down to the toilet, step down to the shower.)
I can't imagine that it has been improved much.
Posted by: jlasf at August 13, 2013 5:55 PM
Oops. In the small bathroom, the toilet is on the top level, step down to the sink, and step down to the shower.
Posted by: jlasf at August 13, 2013 5:59 PM
Agree with Denis, total gut job. Basically needs to be demo'ed and rebuilt under a remodel permit...
Posted by: Skirunman at August 13, 2013 7:15 PM
Houston, we have a problem.
We are back in a Bubble.
Posted by: inclinejj at August 14, 2013 7:34 AM
I wonder what the lot value is on this place. Can't imagine anybody would have a problem demoing it.
Posted by: Eddy at August 14, 2013 8:24 AM
Interested buyers should push hard for a THOROUGH independent inspection. Terrible house plan but worse is the leaking and mold problems the house has sustained throughout the years.
A former resident paid for mold remediation but the underlying leakage problem was not solved as it was too extensive. During the rainy season water made its way from the roof all the way to the garage walls 3 stories below....
Buyer beware indeed.
Posted by: rezzie at August 14, 2013 9:12 AM
Kudos to the seller for trying to make a sh*tload of cash!
My condolences to the eventual buyers ...
Posted by: Jimmy (No Longer Bitter) at August 14, 2013 9:50 AM
Posted by: soccermom at November 11, 2013 9:44 PM