Having very briefly held the title of the most expensive reported home sale in the history of Bernal Heights when it sold for $2,310,000 back in the first quarter of 2015, the contemporary four-level, 3,015-square-foot home at 152 Elsie Street – which features an open main floor plan, four large bedrooms, a lower-level media room, and views, but no off-street parking space or garage – returned to the market priced at $3,100,000 this past December.
Reduced to $2,999,999 at the end of February, with an interim reduction to $3,097,000 in January, and then withdrawn from the MLS in early March, the Bernal Heights home has just been listed anew, with an official “1” day on the market and an “original” list price of $2,995,000, or roughly $993 per square foot, a sale at which would be considered to be “at asking” according to all industry stats and aggregate reports.
If you think you know the market in Bernal, and the value of parking, now’s the time to tell.
Come on: we all KNOW it’s going to end up “over asking”…even if they have to ask $15,368 to get it. I’m baffled by the lowering progression (-3K , -97K, -5K…. -97K??) it seems like they’re letting the ‘Magic 8 Ball’ decide what to do next.
no garage = gonna eat it bad on this one
According to some of the commenters on this site, the all-singing, all-dancing magic of the market place will whir seamlessly into operation, and a well-heeled couple with two children and ownership of no automobiles will select just this home and be willing and able to pay the asking price. Just you wait and see.
It sold for $2.3 million before, I’d say there’s a market.
well it certainly seems like that’s exactly what happened
Granted, it sold for about 6% off the asking price. But as far as the actual buyer being a well-heeled couple with children and no automobiles? I doubt it. The final bullet point on the “features” page of the listing website indicates the home came with “Secured Leased Parking”.
Surprised the SocketSite editor lets through comments that refer seriously to asking prices.
2.1 mil.
Here’s what happened with the pricing.
They set it at 3,100,000 but realized that’s a terrible number because some websites will only show results below that number. They removed 3K to be safe so it showed up within all search listings.
With no takers, they begrudgingly lowered it to 2,999,000, which is a miniscule 3% discount. Note they didn’t stick with their “3K discount off the round number” strategy and evolved to only 1K off. This person is stubborn and wants to claw back their 2K.
With no takers, they removed it from the MLS to avoid being perceived as a lame duck sitting on the market for too long. Hilariously, when it returned to market, it had only a 4K discount. It’s their way or the highway.
The Vanguard agents know the playbook, one would hope. The reductions should be 300K at least. This must be an extremely stubborn seller who is overriding recommendations. This will probably be on and off the market for years given the psychology shown.
Couple of other thoughts:
– It’s virtually staged, which is another signal of the frugality / stubbornness of the owner.
– Not only will it get dinged for having no parking, but it appears to me on Street View that street parking might be tough. It’s a narrow street with parking only on one side. However it’s quite a ways up a hill where driving will be necessary. Not good.
– It’s spread across four floors. That’s a lot of walking up and down. Not good.
$2,999,999: actually $1 off… not $1000
Actually…$3,100,000 – $2,999,000 = $101,000 off
Actually…$3,100,000 – $2,999,999 = $100,001 off
I think we were referring to how much it was off from the “round number” of $3M – or perhaps any 100K increment – not the original price.
I live on Elsie and parking isn’t bad because most of us have older homes with garages. But yes, this particular stretch is quite hilly. The rest of your logic is spot on. We’ve watched this house just sit on the market wondering what the sellers (and their poor agents) are thinking.
Fascinating association that virtual staging = cheap seller.
People seem to forget that there is a SIP in place and that until 5/4/2020, construction was forbidden and most stagers were not working.
So easy to draw hasty conclusion.
Fair point. Given that there’s a shelter in place, what’s the rush to list at all, then? If stagers are not working, certainly the owner can’t expect many potential buyers to view it, either.
And yes, overall, I’d say not paying for physical staging is the sign of a cheap seller. The owner tried no staging at all last time, per “SF Doc” at the bottom of the page.
THIS ^^^^^^^^^^
Virtual staging because of SIP. It was not deemed essential. Old staging was probably removed before shut down
There was no “old staging.” I’m fairly certain the owners left their belongings there. The vibe was eclectic gay circa 1998.
Love the view of a homeless encampment out of a bedroom window
Coming soon to more bedroom windows near you!
There was no staging the last time around and the taste in home decor was, um, questionable.
$2.6M
$2.4M
What are the chances the city would permit a curb cut and driveway here? Perhaps there is some room inside the wall on the left side?
I thought that too, but upon inspection via Street View, there’s a telephone pole in the way. Ouch.
$2.697M. Crazy to think that this house was a record high sale for Bernal and is now relisted at a price around half of the $5.995M being asked for 15 Prospect on the same West slope of Bernal.
Keep in mind that the house on Prospect is nearly 70 percent larger and sits on a double-wide lot (with a garage for 2 cars). And of course, 152 Elsie didn’t hold the title for long.
An anomaly for a house w/o parking in Bernal to hold most expensive home sale title. Is 2 Bonview the current title holder at $4.114M?
I believe so.
How in the world did that property on Prospect remove a unit? It was listed as being 2 units on a double lot as recently as 2015..
As noted by a reader, the list price for 15 Prospect has since been reduced five times, most recently to $4,995,000 (which is down to $989 per square foot).
Although not a bad house, it simply has too many demerits for $3M. – beyond the lack of parking.
1. The Front Door: It lacks protection from the elements as well as an inviting sense of shelter. The second floor cantilever straddles the mid point of the door offering only partial protection – and then there’s that peculiar little notch.
2. Entry: The front door opens directly into the kitchen – offering a view of cooking mess and dirty dishes. The door also swings into the path of people coming up the stair – a dangerous arrangement – especially if there are children or dogs running up the greet someone. It lacks a coat closet and a place for a bench or an umbrella stand – necessities without parking. In a house of 3015 square feet these things should be accommodated for.
3. Powder Room: The powder room has a direct view from/into the kitchen. What were they thinking?
4. Dining Room: Probably the most pleasant room in the house is the dining room with it’s view of the south facing courtyard – yet it has no direct access to the courtyard.
5. Living Room: The fenestration is confused – a window / a piece of wall / a sliding door. A continuous bank of windows = better.
6. Door Swing Madness – The door to the master bath has no home. You constantly have to back and forth the door to access the shower or toilet. Ditto for the lower level bathroom. These patterns are a constant annoyance.
in contract, get your final guesses in.
Sold 2.825
Hooray, my guess was the closest, off by $128k. Do I win a gold plated wall socket 😀
Actually, Panhandle Pro’s analysis pretty much nailed. “The reductions should be 300K at least”
No way, you can’t cherry pick that one line. He also said it will be on and off the market for years. He was saying that should be the price drop, and not the sale price: hence the at least
OK – everybody gets a gold plated wall socket : )
UPDATE: Appreciation for a Large Bernal Heights Home (and the current title holder of the “most expensive” Bernal Heights home).