1893 San Jose Avenue
Having been “thoroughly remodeled,” the single-family home at 1893 San Jose Avenue sold for $1,100,000 in March of 2007 financed with a first mortgage for $880,000. From the listing at the time: “This is more house than you ever imagined you could afford.”
1893 San Jose Avenue Living
Taken back by the bank three months ago with no bidders at $560,000 in cash on the courthouse steps, the four-bedroom Mission Terrace home is back on the MLS and listed for $699,900 (36 percent below 2007) with possession at close of escrow.
∙ Listing: 1893 San Jose Avenue (4/3) 2.275 sqft – $699,900 [Redfin]

16 thoughts on “A Bit Of Listing Irony And Circa 2007 Foreshadowing”
  1. Priced a little high for that neighborhood and it being on a busy street. Talk about shadowing. The overpowering feeling of the church next door is very depressing. Another story needs to be added on to the house.

  2. Is Mission Terrace that bad? I thought it was a pocket of cute homes in a generally “bad” area. And close to BART. Friends lived there for a while, I had no trouble visiting them at night. It was actually surprisingly quiet in fact.

  3. I just meant this specific spot… shadowed by a huge church, parking lot next door, alley in the back, very busy street and muni line out front, police station down the block, etc etc. Not your ideal place for a million+ home.

  4. I’ll be curious about this one. I live in Mission Terrace, and this was one of the few (only?) $1mil+ houses sold here. Caused some buzz back in the day, especially given its location right on San Jose. Still can’t believe anyone would pay that much… But I wouldn’t be surprised if it doesn’t fetch $650-700, which seems to be the high end for houses that are “done”. I can’t see it for going for less than $600K. Time will tell….

  5. We checked this out… the remodel was done cheaply and is already showing bad wear — random wall cracks, lots of water intrusion, mold around the windows, deck isn’t weathering well. It will require a fair amount of remediation work. The top-floor layout was great though, but is entirely disconnected from the downstairs unit with deck access.

  6. BG- Are you saying there’s no interior access to the downstairs? That seems CRAZY – why wouldn’t they have added or expanded a staircase when they remodeled? It seems ridiculous to go OUTSIDE to get to the lower level, especially if that’s where your guest room, laundry room, or media room is.

  7. Yes, there is an interior staircase, but it’s the original one that goes into the garage. I meant disconnected in a “flow” sense. The units feel completely separated.
    Sorry for the confusion.

  8. Thanks bg. Still, seems bush league to do a full remodel (and pay $1.1 mil!) and not make an elegant stair connection to the downstairs. I know several people in the neighborhood with similar houses who have connected the up with down without going through the garage.

  9. yeah saw the house. It’s pretty beatup, the floors feel like two different homes, the street is loud and the backyard is a little creepy.

  10. I hope this one winds up selling for less than $600k. Less than $550k (-50% since 07) would be a bonus.
    Not sure why people are criticizing the remuddle. It was perfectly appropriate in view of the target 2007 mouthbreathers who constituted the market. Besides, after paying $800k in 2006, there probably wasn’t that much room in the budget to do a good job and still make a profit.

  11. Having been in escrow with all contingencies waived, the sale of 1893 San Jose Avenue has fallen out of escrow and the house is back on the market for $699,900 having been purchased for $1,100,000 in March 2007.

  12. boggle had it pegged. Sold for $723,880. Hope the 8’s bring the owners some good luck with that mess.
    Is it just me, or are buyers starting to act a bit erratic?

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