Purchased for $3.3 million in October of 2021, the four-bedroom Forest Hill home at 369 Pacheco Street, “the perfect oasis in the middle of the city,” returned to the market priced at $3.195 million two months ago in anticipation of an over asking offer.

The “striking and sophisticated” home features a classic sunken living room, carved wood ceilings, leaded glass windows, a formal dining room, a breakfast room and kitchen that open to a patio and garden, a two-car garage, and an underdeveloped attic that isn’t included in the home’s 3,211 square feet of finished living space.

Reduced to $2.998 million last month, a sale at which would be considered to be “at asking” according to all industry stats and aggregate reports but would represent a 10 percent drop in value on an apples-to-apples basis, 369 Pacheco Street remains on the market.  If you think you know the story for classic San Francisco homes and neighborhoods, now’s the time to tell.

25 thoughts on “What’s the Story Morning Glory?”
    1. I used to park a 1969 Cadillac Sedan DeVille and a 1970s era Datsun hatchback in a similar sized garage. They both fit though there was very little room to open the doors. Being skinny helped. The Caddy used the entire length with less than six inches to spare. No way two Caddies (or two full sized SUVs) would fit though.

      But does garage capacity really matter on a street like this with plentiful street parking?

      1. If you have two electric vehicles that need access to at home charger. Poor owner would only be able to fit one cyber truck though, for that reason alone, I’m out. I think it sells at 2.85M. Forest hill is the best though despite what the market says.

      2. But does garage capacity really matter on a street like this with plentiful street parking?
        Probably less than the smallish bathrooms (Only one sink?OMG!!) In some ways, it’s a beautiful house, but in others…a lot of little things that detract from the value.

      3. “But does garage capacity really matter on a street like this with plentiful street parking”?
        If you have a 1969 Cadillac Sedan DeVille and a 1970s era Datsun hatchback it does!
        That way they still be there in the morning!!!

      4. You can’t get a nice compact-ish vehicle these days any more. A Civic is the size of an 90’s Accord now, and so forth.
        You’ll still want to keep them inside – assuming you keep a vehicle for a few years – CA sun and wind blowing over the ridge up there conspire to do quite a job.

  1. Beautiful home. Bathrooms and kitchens could (should) be updated to match the level and quality of the original finishes. The sheets of pink granite purchased and installed in the past were something of a mistake. Geographically insulated from urban woes.

    Despite much higher interest rates, these nice home seem to stick around $1,000psf. If the bathrooms were updated, I would guess this would go over $3mm easily. Lots of space. Will be a beautiful home for a family.

    Side note: When I started looking at SF Real Estate 10-15 years ago, OpenHomes websites were painfully bad. Now, they probably represent one of the best values in terms of $ spent on marketing a home listing. Beautiful photos, website, the whole package. Worth every penny.

    $3mm trading price is my guess. Interest rates and the increasingly challenging process of getting home insurance in California. If you haven’t had to shop for a new policy recently, be glad.

  2. If we had any real reporters left at our local news outlets, getting one of the to turn away from Twitt…er…X and do some reporting on the real story here would be informative. Returning a multi-million dollar detached SFH to market after only twenty four months? I think this seller must be one of Jimmy’s real estate genius class.
    From Nearly 3 in 4 homebuyers who bought during the pandemic regret it now — here’s how to ensure you’re not one of them,

    “Pandemic-era buyers really faced these unprecedented conditions,” says Amanda Pendleton, who is a home trends expert at Zillow. “This combination of rising prices, few options to choose from and that extreme time pressure meant that some buyers really ended up at a home that was less than ideal.”
    Rushing through the buying process meant a number of buyers compromised on crucial elements, like price. Respondents of Anytime Estimate’s American Home Buyer Survey, which was released in September 2022, paid a median amount of $495,000 for their home — with almost a third paying over asking.
    Meanwhile, 80% of buyers also compromised on their priorities, like finding the right location. Some bought fixer-uppers, while others made offers without even seeing the properties in person.

    Pendleton’s third tip is to determine any hidden costs of maintaining the home to make sure you can really afford the home. She cautions against taking unnecessary risks, like waiving an inspection. This can end up being incredibly costly later on.
    Zillow research shows that homeowners end up paying around $750 a month, or over $9,000 a year just for basic repairs and maintenance.

    That article ends with by mentioning that “the housing market has started cooling, which means many buyers today are in a way better position than they would have been even a few months ago.” Looks like this seller is trying to get out of 369 Pacheco St. before the curve reaches the bottom.

  3. Zillow research shows that homeowners end up paying around $750 a month, or over $9,000 a year just for basic repairs and maintenance.

    That figure might be accurate for “hands off” owners who hire help for all maintenance, but there are a large percentage of homeowners who do at least some of the work themselves and save a bundle on maintenance costs.

  4. Squarely within the fog belt (miserable weather). No retail within walking distance. Attenuated back yard. I’d buy in Cole or Noe Valley at this price point, though you may not get quite the interior space.

      1. Hi, I used to live not far from there. It’s not an easy walk to anywhere. And the weather is dodgy (windy and foggy).

          1. Not really sure of your point. It’s mostly hills in this neighborhood, especially coming back, and not an easy walkable location to West Portal. It’s a pain.

    1. West Portal within easy walking distance, classic home ten times better than any older home in Noe Valley, gorgeous older trees. Climate change has vastly improved weather west of Twin Peaks, garage space is a negative, but otherwise, well worth the asking price.

    2. I actually like the seclusion and misty (foggy) charm of Forest Hill/ St. Francis Wood. It’s so unique to any other neighborhood in SF and it’s a nice escape. And you don’t have to deal with the street-life deterioration found on the east side.

    3. Weird comment.

      The type of people who decide to live in Forrest Hills really has not changed since it was built in the 1920’s. Nice big houses, low density, (mostly) pretty streets, very quiet and safe, and a quick drive to all the local shopping streets. And if you worked downtown it was an easy walk to two MUNI streetcar stations. Plus since the 1960’s two easy routes to 280 and until the City screwed up the Oak / Fell arterial and the Central Freeway on-ramp an easy drive to 80 and the Bay Bridge for the East Bay.

      Plus the serious fog starts the other side of Golden Gate Heights. 19’th Ave can be gray and while Laguna Honda is sunny. Although other side of Portola is where the fog is guaranteed to start to break up most days. As for Noe Valley and Cole. Whatever Noe had going for it back in the 1990’s is long gone. Little more than a higher density Sunset now. And Cole Valley has gone from being a somewhere to being a nowhere. Going back to the 1980’s here.

      The 2004 and 2006 prices are ballpark for the time. 2006 a bit on the high side. But the 2021 price, Bigger Fool Wannabe Flipper price. Drove past that houses many times over the decades. Nice street but the side streets either side are much nicer to live on.

    1. agreed. Was just thinking about that the other day with all the restaurant changes happening now in WP. That is the one I miss most.

    2. Pickle soup. Miss it too.
      This house isn’t bad, but two of the bedrooms are really small. In fact, the two rooms opposite the primary bedroom could have been combined.

  5. A nice house – the living room and dining room are just beautiful. The private spaces on the upper level are small in proportion to the generous social spaces on the main level. It might be worth exploring merging the existing two bathrooms into one to serve the primary bedroom and then take a portion of the small bedroom to create a new second bathroom and then rework the closet alcove area at the rear or as Mark suggested above combine the two secondary bedrooms into one.

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