How About That Apple?

105 Midcrest Way in Midtown Terrace was on the market for $799,000 last fall. It received multiple offers (I know this because I represented buyers that were outbid) and closed for $808,000 on September 2, 2011.

105 Midcrest in Midtown Terrace

While I don’t remember the exact details, there were reports on the property that showed some dry rot and water issues – nothing off the charts, but if I recall it had to do with the east wall (the one you can see in the picture) as well as some of the patios that were over living space (also seen in the picture).

The property didn’t show badly, but it was vacant and didn’t show extremely well, either.

105 Midcrest went back on the market this spring, and closed on 3/22/2012 for $1,020,000 which was over the asking price of $999,000.

As far as I can tell, no work was done to the property with permits between last September and the most recent sale (I checked the online permit and complaint database with DBI). Looking at the pictures from the fall and spring sales, there doesn’t appear to have been any work done on the kitchens or bathrooms, and the carpet and flooring appears to be unchanged as well. It does look like some tidying was done to the yard areas, but that is the only difference I can see.

Did the September buyers get an amazing under-market deal last fall? Given the interest in the property (offer date, multiple offers) it seems hard to say they got a bargain. But given that – as far as I can tell – very little has changed with the property and it sold for $212,000 more after just seven months, what exactly is the lesson learned here? Has the market changed that much or did someone just pay way, way, way too much for a Midtown Terrace home?

What are your thoughts?

Most. Amazing. SF Maps Ever!

Happy Saturday, everyone! Via the Google Lat Long Blog comes mention of an amazing resource – a set of high resolution 1937 San Francisco maps. You can easily spend hours (at least, I have) comparing San Francisco present to San Francisco past.

I took the time to make a quick mashup of the Twin Peaks/Clarendon Heights/Midtown Terrace areas shown in a 1938 picture and compared it to how things look from above in 2012.

httpvh://www.youtube.com/watch?v=w6i3u-LjowE&hd=1

I was actually a bit surprised to see how built out Clarendon Heights was in 1938. I had picked that area knowing that Midtown Terrace development didn’t begin until the 1950s, and most of Twin Peaks was developed after that (1960s and 1970s for the most part). While this before and now comparison shows how much development has happened in this particular area of San Francisco, some of the other maps are awesome for taking a look at historic structures (like Kezar stadium) that are no longer around. 

It is also interesting to note the vacant lots in developing neighborhoods (Bernal Heights, I’m thinking of you). Anyway, hope you enjoy the short video. Do yourself a favor and click on over to the map collection, the images can be downloaded (in high-res if you sign up for a free account). What awesome things stand out to you in these pictures? I know you were worried that you might have to spend your weekend doing productive chores (dishes, lawn mowing, painting, etc.), hopefully I’ve just helped fill it up with something a lot more enjoyable. :-)

The David Ramsey map collection is pretty impressive, and the addition of these 1937/1938 San Francisco aerial photos makes it even more awesome in my book!

And hey, as long as you’re here, go ahead and take a moment and see what’s for sale in Clarendon Heights or Midtown Terrace!