In the words of a plugged-in tipster with respect to 366 Liberty:
It’s quite an amazing house, very understated (except the price). On a double lot so you have a very large living room and master bedroom off a huge deck that extends to the width of the house. Access to the house is through a very peaceful and private front yard. This is one case where the listing photos do not do justice to this house.
No, this tipster’s not the agent. And don’t forget that view.
The house is lovely, the views are fantastic, but over $1000 a square foot in this market? Are they kidding? That seems crazy to me and I’d be shocked if someone bought it at that price..
Now that is a deck, wow!
An outstanding house- too bad the photos aren’t better. You might quibble with some of the decorating or landscaping choices, but overall, a subtle and beautifully-crafted, minimalist design.
the listing agent’s house…at least she’ll have no one but herself to blame, i guess. beautiful house though. price is kinda nutty.
View is great but agree with above price is nutty.
Just got back from Vancouver and saw homes with equally spectaculat views and twice as large for 330K.
Looks like it was originally purchased in 1991 for $650K. Will be interesting to see what happens here. I’m sure someone will correct me if I’m wrong, but the comps don’t seem to support pricing over $750 per square foot in this area, implying a max value of ~$2MM. But it only takes one, I guess, and the place is fairly unique.
Well, apparently the 1991 purchase was a 90% financing (80% on first loan, 10% on 2nd loan). Not bad for 1991.
The property got refi-ed in 2007 with a final loan amount of almost 2M. That’s a big chunk of cash out, therefore a lot of equity has already been extracted whatever happens to this sale. Nice place, smart seller.
It’s a completely different house than in 1991: “Down to the studs expansion and renovation completed in 2006 with design team of Cary Bernstein and Kelly Lasser.”
Oh, it’s undoubtedly not an apple. I wasn’t implying that. I’d bet it’s been remodeled more than once over nearly 20 years of ownership.
Ditto,
Not an apple. Just commented on the refi/cash out. Maybe they used the refi to finance the work?
The property got refi-ed in 2007 with a final loan amount of almost 2M. That’s a big chunk of cash out, therefore a lot of equity has already been extracted whatever happens to this sale. Nice place, smart seller.
Refis aren’t non-recourse. Thus the seller only wins if their plan all along was to sink the cash-out money into a Florida or Texas estate, live there long enough to quality for the homestead exemption, then declare bankruptcy. Otherwise, they’ll be hit with a deficiency judgement if they don’t pay off the loan.
I like everything and the view, but that kitchen makes me stabby. 🙁
Delurking for a bit: What the heck is an “apple”? I’ve tried to Google that but you can imagine what shows up with computers and whatnot.
A house that has not been substantially changed since it’s last sale. Comes from the phrase “comparing apples to oranges”. Used to separate changes in the overall market from changes to an individual property.
nice remodel, very solid views, not that many properties like this. assuming the seller backs down from the wishing price, shouldn’t this sell quickly for $2.5+?
Thank you for your reply.
but didn’t the house at Liberty/Sanchez with similarly amazing views sell quickly, and from what I’ve heard above asking? I don’t remember the asking price off hand… So maybe the market isn’t completely dead for quality. We’ll see.
Curmudgeon’s right, the other over-priced house at Liberty/Sanchez did move much quicker and higher than I expected, so perhaps this nabe is not over-priced for what the current market will bear.
Are you talking about 342 Liberty? 4 br 2 1/2 bath went for $1,810,000. Under asking, and far under original asking.
I think Curmudgeon was referring to 765 Sanchez (at Liberty) which was listed at 3.25 and sold and closed within 2 weeks.
The listing for the agent-owned 366 Liberty has been withdrawn from the market without a sale.
366 Liberty is back at 2.595.