San Francisco Property Spotlight – 334 28th Street (and a little catching up to boot!)

SF Realtor Property Spotlight

Welcome back to the “San Francisco Property Spotlight” brought to you by yours truly.
I’ve realized I have neglected this little blog feature for far too long now.  Not only that, I haven’t even had the decency to keep you properly informed of the latest properties I shone my little spotlight on.  Shame on me!  Shame! 😮
So today, I am making ammends!  I’m bringing you an update on the last 3 properties I mentioned, as well as a brand new property for your viewing enjoyment. 
Here we go…
57 Webster – A 3BR 2BA condo originally listed at $1,025,000.  First, I was wrong in my original post about the place, I mentioned that the previous owner (who passed away on the property) had not done anything to the place and then just over a year later, the asking price was $155K more than the last time it sold.  But, my initial instinct that the price was a bit high was correct. 
So finally, after 59 days on the market, they lowered the price to $998,500.  As with most price properties that experience a price reduction, the stigma of “why didn’t it sell?” followed it for a few more weeks when after 82 days on the market, they property went into contract at $983,000.  With just an 8 day close, it appears that it may have been an all cash transaction (I’m speculating here, but most loans won’t fund that quickly.)  The lesson here?  After 90 days on the market, it sold at its fair market value.  Gee, I wonder if it would have sold faster had it not been priced too high to begin with?  (please read the last sentence with sarcasm)   Price it right the first time people! 
1352-1354 CastroThis one was my baby – a shameless plug of one of my own listings (it’s my blog and I can do that, remember? 😉 )  It was a mixed use “diamond in the rough” with 2 residential and 2 commercial units listed at $1,299,000.  We abandoned our original offer date when we got a really strong offer the first day on the market, and after just 6 days, we put the place into contract when the best of 10 offers came in at $1,575,000!!!  Oh, and the offer was non-contingent and complete (meaning the agent representing the buyers brought a fully signed disclosure package with all i’s dotted and all t’s crossed.  (Make sure your agent is thorough – you could lose an offer in a competitve situation if not!!!)
151 Alice B. Toklas Place #708 – This 1BR 1BA unit with 1229 sq ft and listed at $620,000 got it’s buyer after 30 days on the market.  This place was a bank owned fixer without a kitchen and in need of some TLC.  But with similar units in the building (with kitchens of course), my opinion is that at $620,000 someone with the right vision and patient enough to do a major remodel (hey at least you don’t have to deal with demolition right?) would be getting a great value.  Final selling price?  We’re not sure just yet – it hasn’t closed just yet, but I plan on keeping my eye on it and will report the sale price once it closes.
And finally (drumroll please…….)
Today’s Property Spotlight:

334 28th Street  is listed by Tal Klein of Hill & Co.  This top floor 2BR 2BR 1150 sq ft condominium is listed at $1,145,000.  It’s clean.  It’s modern.  It’s in a great location.  It’s got great views.  It has lots of outdoor space (a deck off of the dining room and the master bedroom AND a roof deck! NICE!)  And while I’ve seen lots of other condos with a similar feel, this one just looks so bright and airy that it caught my eye. 

The first showing is tomorrow night, so I haven’t seen it yet – but it’s the kind of eye candy that satisfies my real estate sweet tooth.  But at $995.65 a square foot, it seems like it might be priced a smidge on the high side.  I could be wrong.  I’ve been wrong before (just once or twice in my life – don’t get used to it 😉 ).  And someone might love the built-in’s and bamboo floors and flush finishes and tall ceilings & doors and skylights and pre-wired ent.center and decks and views and gourmet kitchen and …… (you get the picture)….. enough to spend $995.65 a square foot.  I’ll keep you posted on this one.

And as usual, if you have questions about any of these properties, or about the real estate market in general, don’t hesitate to contact me.  I love to talk real estate! 🙂

Luba

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