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November 12, 2008

Buyers in Hiding for SF Hideaway Homes

I stopped in at two very charming and unique cottage properties on a broker tour in mid October, and followed up to see how they were doing. Well, it turns out they’re both still on the market.

22 Bergen is a 3BR/2BA home with one-car parking, listed at $1,250,000. The house is at the end of a cul-de-sac, just off Hyde. The location alone should’ve sold this property by now, and it appears to be in good condition. I thought it was a nice condo alternative for those buyers who want to be in the Russian Hill/North Beach neighborhoods. But at more than $1,000 per square foot, it might be a tough sell.

Also heavy on the charm is 221 Greenwich:

This is a remodeled home listed at $1,975,000 that smacks of classic Telegraph Hill feel. You can only access it via the Greenwich steps, so this is not for someone shy of stairs. Once inside, there are two spacious bedrooms, two baths, and great Bay views from both levels. Though parking is leased one block away, the seller has agreed to pay the cost for one year. Definitely worth checking out. Unfortunately, the very aspects that make the home unique are probably dealbreakers for many buyers. Accessing the home is not easy—especially when carrying groceries or, uh, moving in. Parking is tight in the area. And again, paying $1,103 per square foot is probably prohibitive for most buyers out there right now. That level is typically reserved for new construction.

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