May 8, 2009

Welcome to Grey Gardens – in South San Francisco

115 FRANCISCO Dr, South San Francisco, CA 94080 | MLS# 80844119
115 FRANCISCO Dr South San Francisco, CA 94080
Price: $449,000

1203825994-115
Beds: 5
Baths: 4
Sq. Ft.: 2,920
$/Sq. Ft.: $154
Lot Size: 4,770 Sq. Ft.
Property Type: Detached Single Family
Stories: 2
Year Built: 1948
Community: Francisco Terrace
County: San Mateo
MLS#: 80844119
Source: MLSListings
Status: Pending Without Release
On Redfin: 174 days
One Big Heck of a Wreck – Bring your Check!

It’s Friday!

I thought I’d share with you further proof that the affordable housing crisis is now solved in the Bay Area. Check it out! A 2,920 sqft home, 5/4 for just $449k! That’s $154 per square foot.

Let’s take a look inside, shall we?

1336267614-115a

They always say that honesty is the best policy, and this Realtor’s description is not only apt, but catchy.

I can’t help but to think of Grey Gardens (which I saw this week) when looking through these photos. Except that this house is located in beautiful South San Francisco, and not somewhere snooty like East Hampton.

Are you brining your check?

Comments (38) -- Posted by: burbed @ 5:45 am

38 Responses to “Welcome to Grey Gardens – in South San Francisco”

  1. jj Says:

    The puzzling thing about many of these Burbed ‘houses’ is not who would buy them but how they could have gotten in such bad shape to begin with.

    The current house is far past neglect…it is almost as if it was a movie set for some horror show.

  2. sonarrat Says:

    If I had the cash, I would buy it. Francisco Terrace is awesome! It’s row after row of these funky old houses with heavily pitched roofs. It’s one of the most visually striking neighborhoods in the whole Bay Area. Granted it’s right under the flightpath and it’s on the foggy end of town, but it’s still a great value. It’s pending without release, so whoever it is, the lucky buyer can fix it up and probably sell it for $700K.

  3. Real Estater Says:

    As bad as it looks, a house like this is not necessarily that difficult to fix up. If the neighborhood is decent and the price is right, then this is exactly the kind of opportunity buyers are looking for.

  4. Real Alex Says:

    > If I had the cash, I would buy it. Francisco Terrace
    > is awesome!
    What’s so good about it except that it’s foggy, cold, windy, bad schools, within rows of old crap cartoon boxes, called old charms, next to cemeteries and bad neighbourhoods. It’s noisy because of proximity to SFO, 101. This house is just next to BART rails.

  5. sonarrat Says:

    The BART rails are buried, and it’s not too close to 101.. I lived just on the other side of El Camino from this area. There are no bad neighborhoods around there.

  6. A. Lewis Says:

    I don’t know, sonarrat – I guess there are a few people, like yourselves, who like SSF, but to me – it’s too far from SF, if what you like is SF, and it’s too far from the good parts of the Peninsula, if you’re an SV person. It’s in the middle and it kinda sucks to a lot of us.

    It’s true the value per sqft is better than a lot of places, but not many of us need a 3,000 sqft home – I’m a little doubtful if it should sell for $700k after fix-up. Perhaps there are comps to post and prove me wrong?

  7. sonarrat Says:

    529 2nd Ln, SSF
    426 Commercial Ave, SSF
    178 Shipley Ave, Daly City

    There just aren’t very many houses that big in northern San Mateo county. You expect them in Millbrae, but 3000 sf is $1.5M there and that’s for a dull 60′s tract home.

  8. rick Says:

    What a toilet.

    Take a look at this 5000 ACRES beauty:
    http://www.redfin.com/CA/Milpitas/792-Canada-Dr-95035/home/555733

    You can practically own the peninsula after claiming ownership.

  9. Real Estater Says:

    Switching thread due to spam filter malfunction:

    I was looking at 94301 in RBA Palo Alto and noticed 11 Single Family House Sales in the last 3 months with 59 currently listed for sale. Of those 12, two were foreclosure sales

    I would like to invite this person to drive around North Palo Alto. The inventory is higher than normal and so are the number of sold signs. You see them everywhere. On one street I saw like 5 homes sold within a few blocks. If you’re wondering where all the high end buyers are, that’s where they all went.

  10. anon Says:

    stfu re

  11. DreamT Says:

    Smart PA residents smelled an incoming price collapse and rushed to cash in. Excellent timing on their part.

  12. Pralay Says:

    The inventory is higher than normal and so are the number of sold signs.
    —–

    Let’s try to understand what RealEstater is trying to say:
    1. Inventory is higher than normal.
    2. Number of sold signs higher than normal too.

    According to Altos Research inventory chart, inventory is increasing quite dramatically every month. Last year April inventory was ~70. This year 130+ (nearly double). That makes statement #1 true.

    Let’s look at number of sales in April 2008 from this site. Total sale: 31.

    Now, look at this year’s April sale from hitech gal’s website. Total sale: 32.

    That makes RealEstater’s statement #2 is NOT true.

  13. Pralay Says:

    I would like to invite this person to drive around North Palo Alto.
    —-

    LOL! Only North Palo Alto? It’s like communist govt in China is inviting human rights watch group to show how Chinese govt is protecting human rights. :)

    When did you exclude South Palo Alto from RBA, RealEstater?

  14. anon Says:

    “Smart PA residents smelled an incoming price collapse and rushed to cash in. Excellent timing on their part.”

    Damn skippy.

  15. DreamT Says:

    At this rate, in three months we’ll be invited to visit RE’s next-door neighbors as undeniable evidence that the prices are not dropping and houses are selling briskly.

  16. zanon Says:

    Guys! RE doesn’t even think that *all* of NPA is in NPA. There’s NPA, and then there’s RNPA.

    Come on.

  17. Real Estater Says:

    Amateur Pralay says,
    >>When did you exclude South Palo Alto from RBA, RealEstater?

    Let’s see. Is there a part of 94301 that exists in South Palo Alto, which I’m not aware of? Please enlighten me!

  18. nomadic Says:

    It’s a bit mind-boggling that our “average tech guy” argues against actual data with his meaningless anecdotal data.

    RTGs (real tech guys) love data. That is, actual facts, not just driving around for a gut feel.

  19. Pralay Says:

    Let’s see. Is there a part of 94301 that exists in South Palo Alto, which I’m not aware of? Please enlighten me!
    ——

    Does that mean that RBA has only one zip code now?

  20. Pralay Says:

    It’s a bit mind-boggling that our “average tech guy” argues against actual data with his meaningless anecdotal data.
    ——

    And by just driving North Palo Alto he can prove that those two foreclosures actually weren’t foreclosures . :)

  21. Real Estater Says:

    Pralay,

    Do you have any evidence to substantiate those 2 foreclosures? I’m sure you went to the open house :-)

  22. Pralay Says:

    Do you have any evidence to substantiate those 2 foreclosures? I’m sure you went to the open house
    —–

    Damn, at least one year back you used to talk about SP/LP. And now, going to open house and driving around in North Palo Alto – are these the ONLY two things left for you to measure market condition?

    Regarding, 612 Palo Alto, do you need to go to open house to find following information?

    Event date 2/20/2009
    1st party Golden West Foreclosure
    2nd party Levett,Dennis A

  23. Real Estater Says:

    Pralay,

    We know you can type. Where’s the link?

  24. Pralay Says:

    Come on, RealExcreter. Most of the amateurs know how to check PropertyShark. It seems only pros like you cannot figure it out and need to go to open house to find it. Pro indeed!!!!

  25. Anon Says:

    Pro fool indeed.

  26. Pralay Says:

    Anon,
    It’s just RealExcreter’s way to learn something without saying “I don’t know”.

  27. anon Says:

    what a frail ego one must have to be unable to say ‘I don’t know.’

  28. nomadic Says:

    I think RE has moved to the stage where if he can deny something to himself strongly enough, it isn’t true. It’s like a talisman to save his precious 94301 from getting kicked out of the RBA.

  29. Real Estater Says:

    Guys,

    There’s just something wrong with a Pralay post without either a link or a personal attack.

  30. Pralay Says:

    There’s just something wrong with a Pralay post without either a link or a personal attack.
    —–

    Because that is so obvious. Did you check propertyshark in your own? Oh, I forgot you are a pro. You need to go to open house to find it out.

  31. Pralay Says:

    This leads to a question: how does RealExcreter excrete his comments in burbed.com? Does he physically go to burbed’s home and delivers his comments?

  32. nomadic Says:

    No attack? If it makes you feel better, he was directing loads of scorn at you in #22.

  33. anon Says:

    “how does RealExcreter excrete his comments in burbed.com? Does he physically go to burbed’s home and delivers his comments?”

    That’s how the pros do it.

  34. A. Lewis Says:

    You want the link to the FORECLOSURE in the 94301 zipcode in PALO ALTO?

    Here it is.

    I don’t know if you’ll need to log in to property shark first to see it, but I set up my free account in about 2 minutes. It’s very useful to learn more about properties.

    So, foreclosures in the RBA? YES!

  35. Pralay Says:

    A Lewis,
    Don’t act like an amateur and find everything online. If you want to find real estate info like a pro, you need to go to open houses. :)

  36. WillowGlenner Says:

    What I don’t get about Grey Gardens (the real one), is that the house was in good or at minimum decent condition in 1950 when the Beales still had money. By 1973, only 23 years later when the movie was made the house was dilapidated, with broken windows and branches growing through the roof, no floors etc. Plenty of bay area real estate is unmaintained for 23 years, so what? What happened there.

  37. nomadic Says:

    Insane owners?

  38. burbed Says:

    What I don’t get about Grey Gardens (the real one), is that the house was in good or at minimum decent condition in 1950 when the Beales still had money. By 1973, only 23 years later when the movie was made the house was dilapidated, with broken windows and branches growing through the roof, no floors etc. Plenty of bay area real estate is unmaintained for 23 years, so what? What happened there.

    One word: Snow

    I wonder how long a Tahoe house would last without any maintenance.


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