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July 26, 2013

SF Market Sitters: 21 Days & Counting

In a market where new listings get multiple offers within a week or two, it’s important not to lose sight of the rare homes that are taking offers “as they come.” Maybe the list price started out too high, and buyers are fearing that the sellers are looking for a lot more than their asking price. Or maybe there’s something particularly challenging about the location or floor plan (that you may be able to live with). And of course, we can’t ignore the possibility that the seller is simply not genuinely motivated to sell. In any event, here are my picks for three weeks or longer:

405 Arguello #201
Inner Richmond Condo

1BR/1BA, 716 sq ft
1 pkg
Days on market (DOM): 77
List Price: $599,000

Yes, 405 Arguello #201’s deck above is deeded and exclusive—and, you’re literally around the block from Clement Street’s restaurants and shops. This well-appointed unit is in a building that was constructed in 1991, and it has an open living/dining/kitchen area. Best of all, the unit faces the rear of the building, so traffic noise from busy Arguello is mitigated. There are six units in the building, and parking/storage are included. There’s also a common laundry area. HOA dues are a low $202/month.

243 Romain
Twin Peaks House

2BR/1BA, 925 sq ft
1 pkg
DOM: 21
List Price: $975,000

243 Romain is situated on the block that has the Market Street bridge, which lets you walk directly from your block to the other side of Market and drops you down either into Noe or Eureka Valleys. The house is on the smaller side, with less than 1,000 square feet. But the kitchen and bathroom finishes are reasonable, and there’s a cute yard. Buyers have probably stayed away because 243 Romain is priced at $1,054/sq ft, which is what new construction is fetching these days. However, at the right price, you can get a house vs condo in a walkable location. This is the third coming of 243 Romain, as the seller started out in May with the first of what has now become three listing agents, pricing the home at $1.2M. So technically speaking, the property has been on the market a lot longer than 21 days.

60 Escondido
Pine Lake Park House

5BR/3.5BA, 2956 sq ft
2 pkg
DOM: 24
List Price: $1,329,000

60 Escondido is a big, lovely house on a block that runs parallel to Sloat Boulevard at 34th Avenue. So you’ll hear Sloat traffic, but you’ll also be across the street from the shopping center that has everything from a grocery store to a post office. The house has been updated with a remodeled kitchen, and there are three bedrooms on the main level. Downstairs are two more bedrooms, a full bath and entertainment area. They started out with a $1,380,000 list price, which didn’t help in a neighborhood where the average house price this year has been $1,250,000.

If you’re interested in any of these homes, feel free to give me a shout at 415-823-4656/, and I’d be happy to assist you!

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