Notes from real estate tour, February 7, 2012

The outer Richmond there are certain blocks that are special. They have a view of the beach, the ocean, and are on a hill sloping down toward the rest of the area – with Golden Gate Park at the bottom of the hill. Those being 47th Ave. from 300 to 600 blocks. Another corridor worth noting, is 37th Ave. to Cabrillo and Balboa as these homes were clearly built by a builder who had a Mediterranean streak.

The market for homes in the $500-$700,000 price point in the Richmond and Sunset is hot. Agents are running out of flyers, others are setting offer dates. Agents report that their open houses over the weekend draw one to two hundred people.

I would have to say that my time in the Richmond and Sunset were perfectly book-ended by two homes. Funny, both were listed by Coldwell Banker agents.

780 47th Ave.
The first home, with an offer date of the 22nd this month, is listed at $539,000. As currently configured the home has two bedrooms and one bath. Most living area is on one level. There is a garage/basement level that could be renovated. There’s a great formal living room with fireplace. Period lighting fixtures be main. It is a trust sale. It has been in the family for 50 years. The heirs, however, do not even know who the deceased owner is. Anyway, the house will need extensive work on the floors, walls, complete renovation of the bathroom and kitchen, likely structural reinforcement or foundation work needed, and roof work looks necessary as well. Estimates for repair – depending on builder – would probably be in the 100 $200,000 ballpark.

774 33rd Ave., Offer date
Another home I saw today, was on 33rd Ave. at Balboa. This is a 1940s home that’s being offered at $599,000. It is also a trust sale. It’s nicely done, but there isn’t much charm that I could discern. This home is a two bedroom house with a tunnel entry. This means the entry doorway is under parts of the second floor living area. This home appears to be in better shape and last, therefore any renovations would be cosmetic and elective rather than structural and essential.

2278 27th Ave. $608,800, offer date February 14, 3:00 PM
Another home at 27th Ave. – in the Parkside district – is also a trust sale. This home was also in the family more than 55 years. The woman who lived there, passed away at hundred and two years old on the property. It was built in 1937, and record show the square footage at 1200 ft.² There is a center patio inside the home, three bedrooms, two bathrooms, a formal dining room. The main living room has vaulted and beamed ceilings. The hardwood floors have been refinished. If you look out of the window high enough you will see a little bit of the ocean. Also, there’s a terraced back yard.

<2034 22nd Ave., $699,000, offer date February 15
By and far, best house I saw today at this price point in the Sunset and Richmond is at this fabulous, renovated home with exquisite garden located at 22nd and Quintara. It’s a very fabulous renovation with exquisite and elegant details. A stunning backyard garden and thoughtful renovation throughout. While listed at $699,000, the expectation is that the successful bidding party will go up to the high sevens to 800 even. Clearly, all-cash offers would have precedence over the financed ones. Also, given that the weather this weekend it’s posted be great, the offers will probably come in fast and furious. This home is the poster child for the “after” of a before and after home renovation show.

What sets this house apart from the others is the attention to detail. It looks like a designer came through the house. The couple that lives there now is moving to Napa to be closer to wine country. You can tell that they love their house. The kitchen – having the skylights that many sunset homes do – boasts a period stovetop range. The house is painted rich, dark colors upstairs. Wood floors, nice use of crown molding, custom doorway entries, and Center patio lightwell really showcases the lush that the owners have printed on home.

The real winner, however, is the downstairs living area. The owners have added recessed lighting, in-ceiling speakers, but what bar, built-in office space, a high-end bathroom renovation, and a luxurious – garden magazine quality – garden. There is a immediate patio area adjacent to the house with speakers, a picnic table made of stone, regarding Archway and get another sitting area. They’re bubbling fountains throughout. This is a great house.

1476 8th Ave., $699,000 (offer date not yet set)
Last, comes this home. It is located on eighth Avenue just off of Kirkam Street. It has a fenced-in gated entry, and is a regular sale. The owners still live there – and have lived there for more than 50 years. the layout looks lived in – and the house is a bit darker side than the others. It is situated on a relatively busy block – nevertheless – there was great enough interest that the agent ran out of flyers, and expect great interest from a very active buyer pool.

While this business is about property – it is also about interpersonal relationships. And, quite revealingly, another element to consider is how the agents sell their properties. Of the ones I just mentioned, two listing agents were very kind, welcoming, and enthusiastic. This really adds value to the properties they are selling. After all, a buyer’s agent is likely to be gate keeper or spin doctor for any properties they bring to their clients. The agent was ho-hum – neither good or bad. Just like the property they were marketing. Last, one agent was – some could say – over it. So, on the one hand the property will speak for itself, but on the other hand, is important to the person speaking for the property actually does so with positive energy.