CFAH

56 Sotelo Avenue
As we wrote this past June:

Listed for $1,599,000 as a bit of a fixer (or at least an updater) in July of 2007, 56 Sotelo Avenue sold for $1,900,000 a month later establishing a friendly neighborhood comp.

And sure enough, the property has been “updated” and whitewashed a bit since.

Back on the market and asking $1,995,000 for the 2,770 square foot Forest Hill home.

Withdrawn from the MLS after two months on the market without a sale, three weeks ago 56 Sotelo returned to the MLS anew with “no days on the market” and a new original list price of $1,835,000.
This past Thursday the list price for 56 Sotelo was reduced to $1,749,000 (8 percent under it pre-renovated 2007 purchase price).
∙ Listing: 56 Sotelo Avenue (4/4.5) 2,770 sqft – $1,749,000 [MLS]
There Were Bids For The Before Will There Be Bids For The After? [SocketSite]

Comments from Plugged-In Readers

  1. Posted by bernalkid

    looks like the furnace ducts need some asbestos work

  2. Posted by R

    “looks like the furnace ducts need some asbestos work”
    Looks ok. Asbestos is fine as long as it’s not airborn. So as long as you don’t beat the ductwork with a stick, it’s aok.

  3. Posted by bernalkid

    looks like exposed asbestos coating on that ductwork, just saying. 1938 building. Removed similar stuff in my house.

  4. Posted by sfrenegade

    “So as long as you don’t beat the ductwork with a stick, it’s aok.” = “So long as you have no kids in your 4BR house, it’s aok.”

  5. Posted by R

    “So long as you have no kids in your 4BR house, it’s aok.” = “I don’t really care if my kids hurt themselves, so I let them beat things with sticks in the basement by themselves”

  6. Posted by fred

    Another big haircut in Forest Hill is 285 Castenada which sold on Oct. 20 for 1,500,000, and originally listed at 1,950,000
    http://www.redfin.com/CA/San-Francisco/285-Castenada-Ave-94116/home/1718681

  7. Posted by sfrenegade

    That’s a huge haircut for 285 Castenada.
    479 Pacheco was up from asking a bit, $1.45M vs. $1.395M.
    The I can’t figure out is 70 Santa Rita. It’s a 3/1.5, but a huge 3/1.5, and went for $1.23M down from $1.295M asking. That seems high for a house with no master bedroom, although it went for less than double its 1996 price of $620K, which is promising.

  8. Posted by fred

    70 Santa Rita was actually a small house based on my personal tour of it. I would estimate about 1500-1600 sq ft. on the finished levels. I assume you are alluding to the 2,520 sq ft indicated by zillow. I am not sure how they get this. Probably they are counting the ground floor level, which is storage.
    479 Pacheco was a beautiful redone house with a good layout and 1.450 seemed like a good deal for the buyer.
    A new listing is 344 Pacheco at 2,275,000. A full on remodel and expansion just completed.

  9. Posted by fred

    The pluses for 70 Santa Rita were: good view, quiet street, nice yard. The price was high given that it was not suitable for a large family but perhaps a couple bought it. The price did not strike me as being high. At the time, it was a harbinger of lower prices to come in the area. Now the price seems about right.

  10. Posted by sfrenegade

    The tax record says 2520, so that’s where Zillow probably got the number, but I wasn’t talking about that number. 1500-1600 sqft, which was my guess too, is a decent size 3/1.5 for the San Francisco. I’ve lived in an 1050 sqft 3/2 before (essentially a 50s tract home 2/1 with an added master), and I’ve lived in a 1200 sqft 3/2 before. The former felt a little small, but the latter did not. The previous owners of 70 Santa Rita came out really well here compared to many of the other places I’ve seen in Forest Hills, considering other recent sales, and make 479 Pacheco look like a deal at only about $200K more.

  11. Posted by SocketSite

    The list price for 56 Sotelo has just been reduced another $150,000 (9%), now asking $1,599,000 as a short sale having been purchased (pre-renovation including “imported wrought iron gates from [South] America”) for $1,900,000 in 2007.

  12. Posted by SocketSite

    The listing for 56 Sotelo has once again been withdrawn from the MLS without a reported sale. Last asking $1,599,000 as a short sale having been purchased (pre-renovation including “imported wrought iron gates from [South] America”) for $1,900,000 in 2007.

  13. Posted by sparky-b

    That is weird, it was in contract for the last several months. Why would you fall out of contract and then remove it from the market vs. showing it again?

  14. Posted by SocketSite

    56 Sotelo has returned to the MLS listed anew as a short sale for $1,835,000 with a new brokerage and with an official two “days on the market” according to industry stats.

Comments are closed.

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