pgparson, Home Seller in San Francisco, CA

I have a Jr. One bedroom located at 195 20th Avenue with Garage.

Asked by pgparson, San Francisco, CA Fri Jul 6, 2012

Built in 1993 and has about 500 sq feet of living area. Just wondering what sort of price this condo would fetch. Also wondering the demand for this sort of property since I there hasn't been a studio sold in the area in recent months. Thanks in advance.

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15
Bingo! The fact that there has not been a similar unit offered on the market is in your favor. Plan on listing in mid to late August and start preparing NOW. By making a plan for staging and marketing you will get the best price. In this hot market there are many buyers for smaller units.
1 vote Thank Flag Link Fri Jul 6, 2012
Hi the garage adds greatly to your property value. Also, an out of town buyer might need a pied de ter in the city. Its all a matter of marketing and pricing. We have close to 200 agents who would expose your studio to their buyers. If you want to talk more, please call! Sofia
0 votes Thank Flag Link Sat Dec 22, 2012
If you still need assistance with this, I would be happy to. Demand is sizzling. Let me know at your convenience.

Regards,

Tiffany

Tiffany Razo
DRE01891200
Better Homes and Gardens Real Estate
362 Gellert Blvd.
Daly City, CA 94015
D: 415-666-5886
E: trazorealtor@gmail.com
0 votes Thank Flag Link Fri Aug 10, 2012
Hi pgparson-I've recently aquired a client looking for just such a property. I've seen the older listings in the building and have a good idea about what you've got there.

For what it's worth, I agree with those posting in this thread that the unit needs to be viewed.

Because the market has been so strong this year, I would try to use comparable units that have sold in the last three or four months combined with local market knowledge to determine value. I don't use short sales or REO's when comparing a regular sale in the current market. Agents who list bank owned properties rarely prepare them for sale, or often fail to market the property or hold open houses. Often, they're left on a lockbox and just listed on MLS with a low price. Before this market heated up, they were considered unappealing by many buyers and agents for those reasons and others.

So.. the demand is strong. Good preparation and marketing of your unit would give you the best opportunity to find a strong buyer with good credit ready to make the sale happen quickly. If that sounds like what you're looking for, I would of course be happy to help!

Also-Just as an fyi, I don't believe you are in a short sale situation. I'm fairly certain your value will be significantly greater than your loan amount. I am a former certified general appraiser as well. Give me a call and we can talk specifics. There is a lot of demand for your property. Thanks, Matt Ciganek
http://www.SFpropertyreport.com
415-240-9901
0 votes Thank Flag Link Tue Jul 10, 2012
Hi,

Following up on your update about the short sale.

The first thing I do with a seller who is considering there options is to sit down with them and get all the facts. Then we can start looking at all the options together.

Do you just keep it and rent it out until the market catches up to you.
Can you do a loan modification
Use the government refi program
Then consider if you are eligable for a short sale
Learn about the +/- of a short sale

Once you have this worked out you will know what is next.

Please call me to set up a time to meet.

Regards,

Matthew
0 votes Thank Flag Link Sun Jul 8, 2012
You definitely should consider a short sale if you owe more on the property than it is worth. I'm linking to my Short Sale FAQ at our website for more info. Feel free to email or call me to discuss your situation. The type of loan(s) you have, other liens, whether or not you have a hardship, and some other factors impact whether you and your condo are a good candidate for a short sale, so that requires even more looking into than a value opinion.

Assuming that you are a good candidate the process for you is to 1) sign a listing agreement and market it for offers from qualified and motivated buyers, and 2) to pull together a short sale package which will include recent tax returns, bank statements, pay stubs, etc. Each lender has their own specific criteria and I can help you with that if you're interested.
0 votes Thank Flag Link Fri Jul 6, 2012
Just from the feedback given I know this will be a short sell with $350k still owed on the place. What is the best way to get out of this situation?
0 votes Thank Flag Link Fri Jul 6, 2012
Again, I suggest you talk to a realtor in person. Get a true CMA on your property and go from there. You can also discuss strategies in dealing with your bank as well.

Good luck,
Sally
Flag Fri Jul 6, 2012
Without seeing the property any value given is a pure guess. Please choose a real estate professional and ask them to come view the property. If they do a great job with that, this may well be the agent to list and sell your property with.

Feel free to call me at 415-200-7202.
0 votes Thank Flag Link Fri Jul 6, 2012
Just from the feedback given I know this will be a short sell with $350k still owed on the place. What is the best way to get out of this situation?
Flag Fri Jul 6, 2012
I would agree that any opinion tendered without seeing it is not worth much. The market is crazy right now, and although there is more demand for studios closer in to town there is demand for everything right now.

You should interview a few brokers - happy to be one of them - and get an idea on value and then pick the best one for you if you decide to sell.

Best Regards,

Lance King/Owner-Managing Broker
lance@fixedrateproperties.com
415.722.5549
DRE# 01384425
0 votes Thank Flag Link Fri Jul 6, 2012
There is a demand for virtually everything right now. Priced right, and marketed properly and thoroughly, your condo would sell very quickly.

I too would like to see it to provide a firm price opinion, but I have no doubt that I could get you a great offer in a short period of time. Don't just think about first time home buyers, assuming your building doesn't have rental restrictions it should also be marketed to investors. I just sold a 4-unit rental building on Clement at 35th Ave in 2 weeks for an exceptionally high price. Investors swarmed all over it. So feel free to enter your stats at my website below or contact me via my Trulia profile if you're interested in hearing more.
0 votes Thank Flag Link Fri Jul 6, 2012
Hello,

Sally hit the nail on the head with her response. Get a professional to spend time with you evaluating and deciding on a value to the home.

Someone who is experienced with the Richmond District would be a good place to start. I have lived in the Richmond District on 17th and Clement and on 6th and Clement and would be happy to help. If you would feel more comfortable with a female agent, Ellie Kravets, who also responded to your post, is an incredible resource.

Best of luck to you!

Gabriel Rojas
415-562-6999
gabriel@climbsf.com
0 votes Thank Flag Link Fri Jul 6, 2012
HI dear,
I live in the area and I would be happy to help you.
Let me know when we can meet to see the place.

Ellie Kravets
Climb
415.948.1601
ellie@Climbsf.com
0 votes Thank Flag Link Fri Jul 6, 2012
Sally has given you a valid answer. If you'd like a free evaluation please contact me.

wfreeman@mcguire.com
http://www.williamfreeman.mcguire.com
0 votes Thank Flag Link Fri Jul 6, 2012
No one can answer your question properly without seeing your unit - period. Some realtors will give you a quote based on comparables that have sold (with +/- for the differences between yours and one bedrooms.) But no one can give a true price without seeing your unit, its outlook, the condition of your unit, etc.and the building's condition today (which many of us have seen.) Then with research into other sales in your area, you can get what we feel is a price for today's crazy market.

It is a free service. All of us would be pleased to do it!

Cheers,

Sally
0 votes Thank Flag Link Fri Jul 6, 2012
worth about a buck 285.

Properties of this type will appraise at massive PSF numbers, due to their proximity to things.
0 votes Thank Flag Link Fri Jul 6, 2012
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