One street (Clay), one era (Victorian), and two very different homes.
2524 Clay street is a single family home that just hit the market, is updated, and is asking $2,995,000. On the other side of the street, 2503 Clay has been on the market for two months, has been expanded and divided into multiple units (but not recently renovated), and is now asking $2,375,000 (down from $2,500,000).
Not too much of a story (yet), but we are digging that candle chandelier…
UPDATE (12/11): We can’t help but highlight a reader’s comment: “2503 Clay was the home of sculptor Spero Anargyros…in the early ’80’s, and it appears unchanged from that time. As a twenty-something just out of architecture school who was handy with tools, I was hired to move the 10 ton traveling crane from the studio in the back to his new loft space.”
∙ Listing: 2524 Clay (3/2) – $2,995,000 [MLS]
∙ Listing: 2503 Clay (3/3.5) – $2,375,000 [MLS]
Awwww. Look at those itsy bitsy, teeny weenie little rooms in the $3M home. Not even a formal dining room, just a large eat in kitchen. I suspect they’ll get an itsy bitsy, teensy weensy amount of interest, before dropping the price 10 different times to 2.2M and selling it off.
I’m actually surprised too that they are asking $3million for a 3bed/2bath. They don’t list the sqftage, which means it’s definitely under 3,000, and closer to 2,300-2,500sqft. Can’t beat the location though.
It is clear that District 7 SFH have gone up another 5-10% in 2006, and here’s another example if it can get at least $2.6 million.
Ha ha! Up 5-10% from 2003 maybe. Prices per square foot are down and falling. They aren’t getting $1100 psf without a view.
Tipster, just walk into the house this Sunday or whenever it’s open. I bet you it’s no more than 2,500 sqft for a 3b/2bath and that equals $1,200/sqft with NO VIEW. The location is A+, but that’s why I thinkn it’ll only get about 10% max higher than the highest 2005 prices i.e. $2.4-2.5 million in 2005 vs. now asking $3 million this year. It’ll probably settle for around $2.6-2.7 million which is 5-10% higher.
I own a 3b/2 bath home in the neighborhood, and the layouts are pretty much the same, as is the squarefootage. My other friend bought a 3b/2.5 bath house back in Jan 2005, and comps for his place are up 20-25%.
You guys should look at the statistics compiled for District 7. Up 5-10% for this year alone for SFH’s is CONSERVATIVE. I’ve seen many 10-15% examples so far this year.
Just wait until bonuses are paid in Jan, Feb, and March. 10-yr yield is at 4.5% folks, couple that with strong employment growth, wage inflation, and limited supply in SF, you’ll see another 5-10% in SFHs in 2007.
Best of luck to all who are waiting.
tipster, you seem a little angry. [Removed by Editor]
It does have a formal dining room, immediately adjacent to the kitchen. Granted, there’s no table, but there are nice built-ins. Looks like the family prefers to be in the kitchen, which looks reasonable enough to me.
“Prices per square foot are down and falling.”
Any proof? (Other than a comment from someone who starts out with “Ha ha!” – not exactly one of the more credible sources…)
And while not a “formal” dinning room in 2524 Clay, I LOVE that space (anyone else notice all the doors/windows on either side of the fireplace?), and yes SocketSite, the chandelier (although it would be a pain in the you know what to light…).
Oh, and “itsy bitsy, teeny weenie little rooms” in a Victorian? Talk about stating the obvious.
2524 Clay: You missed the best part – the missing caption for the seventh photo:
1) Earthquake!!
2) Is this fishbowl included?
3) Easy on the wide-angle lens, guy!
Its a nice house, mostly finished, although no bathroom shots and no evidence of a yard. Location is pretty good, close to park and fillmore shopping. 3’s a stretch but these are the types of homes that are selling now. The other clay listing is a diamond in the rough if you ask me. It’s got that huge artist loft and a lot of potential. No back yard and the parking situation is a little odd, so its no wonder it hasn’t sold. People aren’t looking for projects, they want done homes that they can live in now. So I think the 3m home will sell quicker.
With this we wholeheartedly agree, “…personal attacks on Socketsite are really not permitted like they are on the Craigslist housing forum.” But don’t forget that we also ask that you add value and stay on topic.
Regardless, thanks for “plugging in.” And now back to the two Victorian’s on Clay…
A parallel article as to what’s going on with the high end.
Location, location, location.
http://www.usatoday.com/money/perfi/housing/2006-11-24-luxury-homes-usat_x.htm
2305 Clay was the home of sculptor Spero Anargyros, until he lost it in a divorce settlement with his wife in the early ’80’s, and it appears unchanged from that time. As a twenty-something just out of architecture school who was handy with tools, I was hired to move the 10 ton traveling crane from the studio in the back to his new loft space.
http://www.speroanargyros.com/
If you are standing around the lobby of the SF Opera, there is a bronze base-relief on one of the columns of Gaetano Merola; Spero made that.
i like the chandelier too… anyone know where i can find one that actually has candles? restoration hardware (and everyplace else i found them) has one that uses electric lights: http://www.restorationhardware.com/rh/catalog/product/product.jsp;?productId=prod1154252
Well, the 1/8/7 2524 Clay open house was quite a treat. The candle chandelier is actually an electric light fixture the owner intends to take with him. It’s really beautiful in person. Seems to be a botch to make it a key element in the photos…
The owners have had the house exactly 1-year, paid $2.6M. He claims $400k in improvements and was giving away an expense spreadsheet as evidence. The details of his various aquarium cleanings are a real page turner. The $35k HEPA filter must be a real gem.
It’s a very nice house. The biggest drawback IMHO is that the garage is not accesible from inside the house. As a result, the laundry winds up in a tiny closet upstairs. Probably no loss, if you’re paying $3M for this house you’re probably not doing a lot of laundry at home.