HomeWorld News'Worst house on best block' of San Francisco sells for $2M

‘Worst house on best block’ of San Francisco sells for $2M

OAKLAND, Calif. (AP) — A decaying, 122-year-old Victorian marketed as “the worst house on the best block” of San Francisco has offered for practically $2 million — an attention-grabbing value that the realtor stated was the end result of overbidding in an public sale.

A developer’s $1.97 million money supply for the two,158-square-foot (200-square-meter) property within the Noe Valley neighborhood was finalized final week. On the social media web page Zillow Gone Wild, some commenters marveled on the value whereas others questioned the worth of a house with boarded-up home windows, peeling paint and an unstable basis.

One commenter joked: “It actually has a parking space. No wonder it sold for almost 2 million!”

The property offered at a number of hundred thousand {dollars} increased than different comparable fixer-uppers within the space in consequence of a posh conservatorship sale, stated Todd Wiley, who represented the vendor.

Wiley stated a choose authorised the sale of the house after its aged proprietor was positioned in a conservatorship. The man’s household, involved about the best way he was dwelling, employed a licensed fiduciary to deal with the sale with the proceeds going to pay for his persevering with care, in line with Wiley.

The house initially acquired the best supply of about $1.4 million, and a probate choose ratified the supply, setting off a roughly 7-week course of the place the house stayed on the true property market, producing intense curiosity.

At public sale, a probate choose set bidding at $10,000 increments.

“That kept things low and kept five to six bidders in the game,” Wiley stated. Two individuals finally went neck and neck, he stated, “and it’s that auction environment that led it to go where it was.”

“They really wanted it but the data point didn’t support that sale. It was an anomaly,” he stated.

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular