Purchased for $2,275,000 in 2005, on the market for $2,095,000 in 2010, and asking $1,999,000 for the past two months, the list price for the tightly cropped remodeled Ashbury Heights Victorian at 1499 Masonic has been reduced to $1,895,000.
∙ Listing: 1499 Masonic (3/2+1/1) – $1,895,000 [MLS]
∙ (A) 1499 Masonic Set Back [SocketSite]
∙ Take Two For An Orange On Oak And Bumper Apple Crop On Masonic [SocketSite]
Ha! Love the title of this article. “Cut crop” indeed. For those who don’t get it, check out the photos in the earlier article on this same property.
It is probably the only case I’ve seen where cropping a photo was deceptive. I wonder how many prospective buyers went out to this address with high hopes and then turned around without even going inside.
Something tells me that the 2005 buyers talked themselves into believing that a flaw was not a flaw. But, hey, pot filler: sold!
This lot is horribly flawed. It’s cute, but set back from the street on a dark plot of land.
I lived in the neighborhood in 05 and remembered talking to agents about that sale after the fact – even back then they didn’t think the price made sense, but (and I have no verification) told me that trust-funders had purchased the place and didn’t really care about the financial aspect of it.
Three weeks ago: we’re not gonna budge off our price with dot com bubble 2.0 sweeping the nation!
Yesterday, with LinkedIn falling 7% and Groupon asking for more bankers because their offering is obviously woefully undersubscribed: Gee, another $100,000± price drop doesn’t really seem that bad!
Maybe the photographer is skilled with lighting, but I’m surprised that the house looks like it does get a lot of natural light even though it is sandwiched tightly between two other properties.
How many times you gonna make that joke, Tipster? A million? You know normal folks don’t say the same things over and over and over again, right?
That crop job is awesome! It’s even better than the house on the steep hill that miraculously became flat, or the super ball of wires they photo-chopped out in the dream house listing.
Might be a fun thread idea SS – can we put together all the best examples of photo-cropped listings? Some are just priceless.
“You know normal folks don’t say the same things over and over and over again, right?”
As he takes a sip of his Haterade… 🙂
Hope that tree is 1499 Masonic’s or that it doesn’t grow any wider, or you’ll lose that minimal GG Bridge/Headlands view.
These photos do a good job of showing how much natural light this place gets (without any curtains/blinds, as staging requires, of course), although you also get the inane pictures of staging furniture and random fixtures to accompany them.
You raise an interesting question. Is hatin’ on haters in fact actually being a hater? Not entirely sure about that. 🙂
This listing should really open the bears’ eyes, if any listing could. These smart trustafarians bought a house on a “horribly flawed” lot and now they’re not even going to lose $400k if it sells at asking. And that’s after only 6 years of paying upwards of $25k per year in taxes.
All right, I guess some pesky bears will point out the likely $100k+ in selling costs here, so let’s call it maybe a $500k loss. Again, assuming it sells for ask after this latest reduction. Big deal. If a $500k loss seems like a lot to you, then may I suggest you’d be better off buying in Stockton, because it is definitely not a lot of money in SF.
I actually toured this house about two months ago on a beautiful sunny day and the best part about the house was the sunny, large deck & back yard. It does not suffer from a lack of light inside, but from a weird layout. The proportions of the house is off, downstairs has overly large rooms, while upstairs is cramped. The open space for living/dining/kitchen with three eating areas (dining area, breakfast area, counter stools) is overkill. The two upstairs bedrooms are fairly cramped each with it’s own bath, but the 3rd bedroom is an old fashioned room right off the living room and I’m not sure there was a bathroom on the first level (there may have been one under the stairs).
It did not compare favorably to the other swanky houses for sale in the neighborhood.
on the left side of the photo, they completely removed the wall from the adjacent house.
It seems it has got off the market.
The list price for 1499 Masonic has been reduced to $1,795,000. Once again, purchased for $2,275,000 in 2005.
Sold! At $1,750,000. 22% off the 2005 sale price. Another member of the Half-Million-Off Club of SF. (See, now if this were an SFR in a nice neighborhood, it would have held its value . . . oh, wait . . . )
[Editor’s Note: A Half-Million Dollar Drop For The “Cropped” Victorian On Masonic.]