Size Doesn’t Matter

Say you want to spend around a million bucks to buy a house.  Wouldn’t it be useful to know how much houses typically go for per square foot in that price range?  Then you could take the square footage of the house you’re looking at, multiply it by the price per square foot and come up with a rough idea of value.

Now say you’re in the happy position of having $2 million dollars to spend.  Could be that $2 million dollar houses cost that much just because they’re bigger than $1 million houses, in which case their price per square foot would be the same.  Or they might cost more because of the area they’re in, or their finishes and amenities.  Whatever the reason, it would be useful to know how much they go for on a per square foot basis. ...  Additional Details

Footnote on Potrero Hill: 473 Pennsylvania

I first saw this house, advertised as a fully remodelled 4 BR, 2BA, Potrero Hill View Home,”  back in October 2009.  With its Spanish Mediterranean, sunny yellow exterior, it had curb appeal, together with terrific if industrial views over the working end of the Central Waterfront and I-280.  The main floor showed started off well, with an open layout, great sun and expansive views.  I don’t recall the exact layout any more, but I do recall that a lot of the home’s square footage, including “an expansive fourth bedroom/media room” and “informal office space” were located on  a lower floor basement conversion that still felt like a basement. ...  Additional Details

587 Jersey One Year Later

I came across this beautiful wreck during a walk in my ‘hood last autumn and snapped this photo to catch the eerie light through the windows.

Purchased a year ago for $700,000, the 1300 sf house has grown to 4BR, 3 BA and 2462 square feet.  Voila, the new 587 Jersey, just listed at a slender $1,749,000.  That’s $710 a foot.

I toured the property last Tuesday and to be honest I was underwhelmed.    The developers squeezed the extra square footage into the original building envelope by building out the attic and the basement.  Certainly a good way to avoid all the hassle of neighborhood 311 hearings, notifications, and controversy.  But at the end of the day, you’re still buying a built out basement and a built out attic.  And it shows. ...  Additional Details