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November 8, 2013

What You Can Buy in November: 21 Days & Counting

We’re approaching the holidays and I’m starting to see the “days on market” count tick upward for quite a few homes out there right now. This regular feature takes a look at three properties that are way cool but which have been sitting on the market for 21 days or more. What that means for buyers is…no offer date, and less competition. So consider these homes if you’re ready to buy:

374 11th Street #5
South of Market

Days on market (DOM): 33
2BR/2.5BA, 1771 sq ft
1 pkg
List Price: $974,000

374 11th Street #5 is a spacious, three-level loft with great natural light, an office/den, two fireplaces and a private deck. There are a lot of stairs leading up to the unit, but if you can get past that, the property offers excellent space in a hip location that’s on the same block as Bar Agricole and Bergerac. You’re also really close to the Mission, Potrero, Costco (!) and the freeways. Last sold for $900,000 in 2005, the list price does not seem off base to me for the space. And at $550/square foot, it’s actually under the $673 average for 2BR lofts sold in the area since July.

23 Cityview Way
Midtown Terrace

DOM: 37
2 pkg
List Price: $749,000

23 Cityview Way doesn’t have the style and panache of some of the other single-family homes that have sold in the centrally located Midtown Terrace neighborhood. But it also doesn’t have the price tag those properties have carried. The lot is flat and the yard needs a total re-do, but the kitchen and bath have been satisfactorily updated and are certainly in move-in condition. There’s also a large garage and bonus room that would make a nice master suite down the line. The original list price was $789,000, but it was just reduced to $749,000 and now there’s an offer date of November 12th. 23 Cityview was last sold for $840,000 in 2006, but the yard has kind of gone downhill since then and the home could use some TLC. With most homes selling in the neighborhood for well above $749,000, I think Cityview is a good deal for someone.

701 Minnesota #103

DOM: 54
2BR/1BA, 1229 sq ft
1 pkg
List Price: $799,000

Potrero Square is one of the coolest conversion buildings in Dogpatch. Previously a brick and timber distillery, the building was transformed into condos in 1993. Unit 103 features soaring ceilings, exposed brick walls, arched window and two separate sleeping areas. You also get an in-unit washer/dryer and a deeded patio. The common areas have lush gardens and an atrium, which is nice because you walk through them to get to the unit. HOA dues are $428.68. 701 Minnesota is a good option for buyers who want proximity to 280, neighborhood restaurants like Serpentine and Piccino, as well as the Third Street rail to downtown. #103 was initially priced at $849,000, but recently hit the $799,000 mark.

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