The listing calls it a prized three-bedroom single-family home in the Mission with a three-car garage that’s listed for $425 per square foot ($799,000). We’ll call it perfectly livable with room for improvement(s) and bits of Victorian charm.
So, will a quick sale for 953 Hampshire be a sure sign of a “hot” market in San Francisco? Well, it all depends upon your perspective.
At $425 per listed square foot, 953 Hampshire would appear to have been price between 2001 and 2002 values. And with a median sale price per square of $585 for single-family homes in the area in 2010 (down from $607 in 2009 and a peak of $699 in 2007), we’ll let you make a few calls of your own.
∙ Listing: 953 Hampshire (3/2) 1,881 sqft – $799,000 [MLS]
Two of the bedrooms appear to be in the attic space.
750?
I love this particular area in the Mission! It’s convenient and easy walk to 24th street. I think this goes for around $770-ish.
Sold for $525k in 1999 and $250k in 1992.
Anyone have any idea if this is an apple?
This place looks a lot like 2523 Harrison, which sold for $800 last year.
I’d snap this up at the 1999 price, but not much more.
are those attic rooms legally livable space?
i think this is barely ok home in a “transitional” neighborhood.
maybe if those bedrooms were real and not attic space.
Methinks you’re all being a bit pessimistic. Unless there are hidden problems, this looks comparable to 1177 Alabama, another 3/2 a few blocks away which sold for $919,500 ($593/sf) last July. Even if this goes for 10% over asking it would still be less than $500/sf.
From propertyshark:
Lot area 2,495
Property area 1,165
It looks like maybe 1/3 of the floorplate is attic space that is real square footage. So add 400 square feet. And that’s if the upstairs runs the entire length of the house.
You have to walk through one bedroom to get to the other, so maybe subtract 100 square feet worth for that little problem (mommy: what are you and daddy doing?!), so this is “worth” no more than 1465 square feet.
$500*1465=$732K. Current price: $799K
Also, the kitchen photos are stretched all out of proportion. The kitchen table is oblong and the right window is larger than the left (in reality, the table is round and the windows are probably equal sized). The range looks wider than I’d expect. That screams to me don’t bother.
If you want to get a feel for the neighborhood, just read the daily police report in the examiner. I certainly wouldn’t walk around here at night while talking on my iphone.
http://www.sfexaminer.com/local/blogs/law-and-disorder
Great points, tipster. I’m still going to predict this goes at $825K or above (which would be an ‘effective’ $563/sf based on your calculations). It’s a true SFR in a much improved area, and around here every house has some weird quirk you have to deal with.
And let’s not forget 1384-1386 Utah which just sold for $349 sq ft. Not exactly the same setup as 953 Hampshire, but 953 Hampshire doesn’t have a super cool carriage in the carriage house either. I’m with badlydrawnbear at $750.
Median psft price 585*1465=857K. SO I’d be in agreement with your analysis, vanillablue, or even believe it was too low.
$500 psft was not the right number to use. I used it because you mentioned it.
My guess would be right around $850K
953 Hampshire may have started as the exact same house as 2253 Harrison in 1900:
Beds: 2
Baths: 2.0
Finished Sqft: 1,165
Unfinished Sqft: –
Total Sqft: 1,165
Floors: 1
Lot Size: 2,495
Style: Single Family Residential
Year Built: 1900
953 Hampshire:
Beds: –
Baths: 1.0
Finished Sqft: 1,165
Unfinished Sqft: –
Total Sqft: 1,165
Floors: 1
Lot Size: 2,495
Style: Single Family Residential
Year Built: 1900
That 1165 sqft on a 2495 sqft lot seems like more than a coincidence. The difference is that the 2nd parlor for Harrison was sort of converted to a bedroom (hard to tell when staged because the doors were removed), and it looks like 2nd bathroom for Harrison was placed on the main level instead of upstairs. Both use the attic space as bonus rooms, not pictured for Harrison, and Hampshire includes the attic square footage, making the PPSF look artificially low. Where are the stairs for Hampshire?
1177 Alabama is not a Victorian. It is a 1500 sqft Marina-style/Doelger house and has a real third bedroom on the lower level, unlike these two. It says foundation work done, but I don’t see a permit:
http://marvelousmissionmediterranean.com/
I’m not sure if 953 Hampshire is an apple, but there was a re-roofing permit in 2009. There was a permit to replace the foundation with concrete instead of brick in 1992, but the permit expired as says “work not completed.”
I like this place and think it is a good bargain. Pricing it below market is risky if you’re trying to create demand. +8 to 12% over asking.
so the realtor can just make up any square feet number? count space that is not warranted?
this is more like $686/sq foot
you gotta love the sf real estate market.
Yes, Realtors make up square footage.
The fine print on the MLS says, “All data subject to ERRORS, OMISSIONS, or REVISIONS and is NOT WARRANTED.”
Any idea why the listing says it has a 3 car garage?
Because it does have a 3 car garage. Because the square footage is per appraiser. Don’t be so fast to jump in on the derogatory comments that are about four or five of these posters’ sole endgame. They will steer you quite wrong, not blink, and then steer somebody else wrong tomorrow.
“Any idea why the listing says it has a 3 car garage?”
My guess is that it’s because you can fit 3 cars in the garage.
I have no knowledge about this house other than what’s in the MLS description, but what SanJoseRenter is probably thinking about is that the garage door appears to be only one car-width wide. So, to accept that the garage does in fact hold three cars in tandem fashion, you’d have to have the garage running over 66 ft. in length (the minimum garage depth is 22 ft.), if not a lot more because the listing mentions “lots of storage & work bench” in there.
On period homes like this one, it’s not uncommon for the listing agent to call out specifically that the garage is a tandem; this listing does not.
Ok, so perhaps the garage runs the entire depth of the building on that floor…seems unlikely in a home with a living room, eat-in kitchen, 2nd parlor, and formal dining room in addition to the bedrooms and bathrooms.
I think the question of whether or not an appraiser can count space that’s unwarranted is more intriguing, though.
Some of these same posters have been told these answers, like what counts as measurable square footage per an appraiser, many times over. Whether or not they’re too dense to remember the answers because they hate on 18 things at once and that’s a bad way to retain knowledge is their own faults.
Compare and contrast, 0.4 miles away, sold for $800K late last year:
http://www.redfin.com/CA/San-Francisco/1261-Rhode-Island-St-94107/home/737551
^Note, no garage.
curious to see if this place quoted that much square footage last time it was for sale.
anybody believe the median $/sq.ft. of $699 in 2007 is based on measured space or merely tax record space?
also, out of curiosity, has there ever in history been a ‘sure sign’ of market ‘hotness’?
Lots of refinance activity in 2003, 2005, 2007 and 2010. The property is held in trust, which is usually a good sign — and it does appear the earlier refies showed some restraint (according to PS). Still, one does wonder what the mortgage looks like today…
Bargain hunters who want to construct their dream duplex (or rehab a SFH in need of TLC) can check out 944 Hampshire across the street. Purchased for $675k in 2003, it was refinanced for $624k in 2005 courtesy of WaMu. The final refi was with Countrywide in 2006. Ultimately foreclosed and taken back by the bank for $427k in June 2010.
The description on 944 Hampshire was enlightening:
* Contractor’s Special and a great project! Lots of potential. * Approximately 3 bedrooms upstairs with 2 baths and downstairs has 3 bedrooms with 1 bath, with family room * Sellers are not aware which rooms in the home are permitted. Buyers are highly advised to complete thorough due diligence. * Great location and Easy access to transportation and freeways. * Both main floor and bottom floor tenants occupied. Current rent is $3,500 *
There was a tenant on the bottom floor with plywood covering the garage opening? I’m guessing less than half of those 6 bedrooms were warranted. Seems like it could be a good opportunity for the right person.
This neighborhood is the new noe – baby central and fast moving up the cool ladder. Closer to transitioned than transitioning. 850.
Not new Noe. Potential Noes are protected by slopes that keep the lazies and the broken in check. You’re well within the shopping cart line here. Just hang out around the General Hospital bus stop more than 1/2 hour and you’ll see that Noe it is not and never will be.
lol, I can’t remember you saying positives about anything.
I used to live in Cow Hollow and there are shopping carts over there too. I guess Cow Hollow/Marina will never be Noe. Too bad.
Amazing how pessimistic most of the folks are on this blog who obviously have very little knowledge of the SF market. I actually went and saw this property. It’s a great house. I predict $925K, maybe a little more.
It would have been better if Greg had actually told us about the house instead of trying to insult the people who made guesses. The most online-savvy agents have learned to use sites like SocketSite appropriately to market their properties and have been rewarded by appreciation from SocketSite readers as a result because they provide useful information. Antagonizing people, even anonymous ones on the interwebs, won’t help you sell this place.
lol, I disagree. It might not quite be the new Noe, but it is the new Valencia..and it’s booming. Itis “transitioning” not “transitioned”….there’s a long way to go. But I live very nearby, and every block now has a cafe with hipsters on their macs…interspersed with mexican bakeries and taquerias. I predict we’ll soon begin to see the widespread security grates come down….the real sign of neighborhood transition.
Off Potrero, you rarely see homeless folk, walking down 24th from Mission, you might run into one panhandler. Contrast that with Noe or (particularly) Castro.
UPDATE: Well “Over Asking” At $478 Per Square Foot For 953 Hampshire.