We’re not sure why 107 24th Ave is listed as a single-family home (okay, so perhaps we are), but keep in mind that’s $1,995,000 for just the lot and plans (although “approved”).
∙ Listing: 107 24th Avenue (“4/5”) – $1,995,000 [MLS]
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We’re not sure why 107 24th Ave is listed as a single-family home (okay, so perhaps we are), but keep in mind that’s $1,995,000 for just the lot and plans (although “approved”).
∙ Listing: 107 24th Avenue (“4/5”) – $1,995,000 [MLS]
If they list it as a home, it should include the home, not just the plans.
This is the kind of cr@p that should get a realtor disbarred (if there was such a thing). He has the price per sqft listed for his imaginary house without listing the lot size (which is what he’s actually selling).
Is it that hard to spell out driveway in the listing?
Isn’t this where a house fell into a sink hole about five years ago?
Finally, a house that’s priced to sell!
I’m so sick of all these homes sitting on the market week after week, month after month, priced at 2006 and 2007 levels. Hoping some buyer who has been locked in a bomb shelter for the last two months without CNBC and has no idea the stock market is off 40% and unemployment is headed towards double digits.
Wait a minute … something’s fishy here. Where’s the house?
I could always pitch that 5,595 sq ft camping tent I bought at REI with my dividend.
Don’t you love it when brokers write their property description like it’s a text message, with abbreviations for everything? Tell me, are they paying by the letter for the listing–is that why they do it? Usually, they just misspell words throughout anyway, so maybe that’s how they avoid that problem.
“next to the Ansal Adams home”
Is that Ansel Adams lesser known brother?
Well, at $200/sq. ft. for new construction that’s only another $1.2 mil to put the house on…
peanuts, really
Per PropertyShark, the lot is 4200sf.
Is that bridge from the first photo included in the price?
No, these are the poles for the 5,595 sq ft camping tent DataDude just talked about.
not that there isn’t enough irritating about this so-called listing, but I love that the first picture is of the GG bridge, and then you find out this is NOT the view from the site. (is the view what you see on picture #3?)
I also can’t believe that they can list this as a single-family home (with phantom square footage) just because there are approved plans – it should be listed as a lot. OK, the rules allow listing the property as an SFH – well then at least leave the square footage blank. Why plug in fictitious numbers? Many finished houses don’t include the square footage numbers – if any structure warrants not showing the square footage, it’s one that doesn’t exist yet.
There is one of these in Tiburon at 1893 Centro West (LMRM – you might have driven past this). It is a ridiculously overpriced lot for $2.2M with a vapor-ware 3,700 square foot planned home. The phony square footage allows them to include a price/sf of only “$578/sf” in the listing. But there’s no house – just the remants of a POS that was torn down two years ago.
OT ALERT
“There is one of these in Tiburon at 1893 Centro West (LMRM – you might have driven past this).”
I did recently when I was up there driving around to check out the $4950 3000 square foot 4/4 rental on Diviso up there. Beautiful views and a nice spot. We were considering leasing another place up there and keeping our current 1900 square foot 3/2 rental near St. Hilary’s as a workshop/storage for bicycles and cars and toys 🙂
It looks like a mess up there. Everything for sale, lease signs, etc. NOTHING has sold in our little area in months it seems (a little hyperbole, but just a little) and it seems like most places need to come down 15-20% now from 2006 prices from what we can tell. Rentals are languishing here too, and one of the families on our block is going to tell their landlord to lower their $3700 rent (for a $1.5Mish 4/3 view house) or they’re leaving. I’ve also heard of a developer with three spec houses in the $3.5M – $5M range over near south of Trestle Glen on Paradiso who is going belly up (our wives all talk) – maybe you know who I am talking about. There are going to be some extraordinary deals in 2 years. I’d expect view lots to fall 75% in value and 50% off finished product in that price range.
Aw, c’mon gang. Take it easy on the listing agent. This is just an extreme fixer.
Or as they say in mathematics a “degenerate case”
Ultimate Fixer
Handyman Special
Needs Work
there’s not a chance in hell that you can build this house for $200/sf. never.
seriously, the potential buyer would need to budget about $350-400/sf to get the quality that this location and design would expect.
we’re not talking about some suburban tract house here.
Nobody answered Sam’s question. Is this the lot where the house collapsed into the sinkhole? I know it was in that area. And why else would there be a driveway that leads to…..nothing.
Okay, I will answer my own question: Yes, this is where the sinkhole swallowed up the house. The City compensated the owners. Here is a story about an idea to turn this area into the
“Ansel Adams Grove.” (I guess that idea went nowhere.)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2006/01/08/CMGQIF5VT91.DTL
Laughing Millionaire Renter, where exactly are you predicting lots to fall 75%?
LMRM, I believe I know the developer you mentioned. Those properties are fully leveraged – and aren’t moving. Not much is – and so much has been pulled from the market. No general capitulation – yet. 50-75% declines (from the peak)? I think a real GDII event would be required (but I guess we’re heading in that direction). Now, the lot I mentioned above absolutely should come down by 75% from its asking price. Incredibly, it actually started at $2.4M. It’s small, steep and shares a driveway that should be rated double black diamond. We’ll see.
Nice find on the article jlsaf. It sounds though now that the ancient pipe that collapsed has been removed and the area shored up, there shouldn’t be any more sinkholes unless barring a natural disaster. That said, I would never want to build my home on this site knowing what happened before.
FSBO,
If we are thinking of the same person (I just rode my bike by one of his flops on a spur off Paradiso just north of TG, and then by another flop that he had to rent out as I turned south in the beautiful sunshine this morning), the back story is hilarious, in a sad sort of way. He’s actually a nice guy – the wife is a different story….. couldn’t have happened to a nicer woman IMO. Absolutely astounding is the willingness of people to risk it all out here.
Here are just a few examples of the type of places that I think will ultimately come down 50% from original peak asking (can’t say for sure that these specific ones will – perhaps an intermittent knifecatcher will intervene):
http://www.redfin.com/CA/Tiburon/35-Terrace-Ct-94920/home/17058479
http://www.redfin.com/CA/Tiburon/675-Hawthorne-Dr-94920/home/17315864
http://www.redfin.com/CA/Tiburon/51-Gilmartin-Dr-94920/home/12521113
And, of course, the spec houses from our overleveraged developer friend.
BTW, the first spec flip above (purchased for $1.3M and then expanded/remodelled) is for rent, too (good luck in the middle of the school year, and at that wishing rent!):
http://sfbay.craigslist.org/nby/apa/915480552.html
And I’m sure 675 Hawthorne will be for rent too in the near future….
Wasn’t this on the market a couple years ago, with unapproved plans?
Auden, I also wonder about insurance. Could you get insurance for a house built on a site that had collapsed? It would probably cost a fortune.
Love that little street.
The house that fell into the ditch was an even that happened about 10 years ago I think.
Why in the HELL did the broker abbreviate words like that?
And no, you’ll never build a house suitable for that location for $200/ft. At cost, maybe… but not retail.
Oh and bullshit on the first photo. That’s right off the cliff, the third photo actually shows the view. You won’t see the bridge like that.
The lot at 107 24th Avenue is back on the MLS with an official “2 days on the market.” Now asking $1,588,000.
High End Market Hotness:
Listed 10/25, pending 10/31.
New construction project with unobstructed GG views and a huge floorplan. Visible from El Camino Del Mar near 25th heading northeast into the Presidio.
http://www.107-24thave.com/
List at $5.6mm. I can’t find the square footage stated anywhere, but I think we are north of $1K/foot.
Killer location, beautiful house.
Sold. 5.5mm
Nice work builders.
It hurts when 4 months after you buy a new house, you have scaffold up and a contractor taking stucco off above windows that have presumably leaked.
That’s my walking-by analysis so far.
Not so nice work, builders.
Guess it sat in the drought all that time with no rain, and was summarily blasted with the torrential rains we’ve had recently. Always a good stress test.
Is there another vacant lot there fronting El Camino?
There is, adjacent to this house, another vacant lot with access to El Camino Del Mar. I think back in 2010/2011 it was for sale for $1.5mm if I recall correctly, though the sign has been down for some time. Not sure if it traded hands…