5 ms·

Yet I see condos in SF even in good areas outside of downtown sell for the same price as a decade ago https://www.zillow.com/homedetails/2200-Market-St-APT-404

by tempsy 2y ago

Yet I see condos in SF even in good areas outside of downtown sell for the same price as a decade ago https://www.zillow.com/homedetails/2200-Market-St-APT-404-San-Francisco-CA-94114/125217860_zpid https://www.zillow.com/homedetails/2200-Market-St-APT-404-Sa...

rwbt 2y ago
> $759/mo HOA. That's why.
- seanmcdirmid 2y ago
  $759 HOAs sound cheap to me actually.
  - rwbt 2y ago
    Really? That's crazy. I imagine these are full service HOAs that take care of landscaping and provide other services?
    - hellcow 2y ago
      I pay $480/mo for a CA-based HOA and receive very few services. A large chunk of that money goes toward insurance and maintenance. You start seeing real services (pool, etc.) at $1500+/mo.
- tempsy 2y ago
  that’s typical of any new construction condo
tqi 2y ago
I think this is a unique circumstance. Market at 15th is not really a good area IMO - while it is close to Duboce Triangle (which is very nice), the road noise from Market combined with proximity to the sketch part of SOMA[1] make it fairly undesirable. But in 2014 when the building was brand new, there were many new developments going up in that area (Whole Foods opened around that time), so my guess is buyers were betting that the area would improve rapidly, and that was priced in. 10 years later, it seems pretty clear that that optimism was misplaced, so that premium evaporated. [1] For example, that Safeway a block away is quite rough: https://www.sfgate.com/bayarea/article/safeway-2020-market-street-problems-16663711.php https://www.sfgate.com/bayarea/article/safeway-2020-market-s...
- tempsy 2y ago
  there’s nothing “rough” about that area i live right over there. you can pick a dozen other condos in SF outside of downtown being listed today and doubt any of them are selling for much more than a decade ago if at all. this is not an uncommon situation right now.
  - deleted 2y ago
    [deleted]

by tempsy 2y ago

rwbt 2y ago

> $759/mo HOA. That's why.

seanmcdirmid 2y ago
$759 HOAs sound cheap to me actually.
- rwbt 2y ago
  Really? That's crazy. I imagine these are full service HOAs that take care of landscaping and provide other services?
  - hellcow 2y ago
    I pay $480/mo for a CA-based HOA and receive very few services. A large chunk of that money goes toward insurance and maintenance. You start seeing real services (pool, etc.) at $1500+/mo.
tempsy 2y ago
that’s typical of any new construction condo

tqi 2y ago

I think this is a unique circumstance. Market at 15th is not really a good area IMO - while it is close to Duboce Triangle (which is very nice), the road noise from Market combined with proximity to the sketch part of SOMA[1] make it fairly undesirable. But in 2014 when the building was brand new, there were many new developments going up in that area (Whole Foods opened around that time), so my guess is buyers were betting that the area would improve rapidly, and that was priced in. 10 years later, it seems pretty clear that that optimism was misplaced, so that premium evaporated. [1] For example, that Safeway a block away is quite rough: https://www.sfgate.com/bayarea/article/safeway-2020-market-street-problems-16663711.php https://www.sfgate.com/bayarea/article/safeway-2020-market-s...

tempsy 2y ago
there’s nothing “rough” about that area i live right over there. you can pick a dozen other condos in SF outside of downtown being listed today and doubt any of them are selling for much more than a decade ago if at all. this is not an uncommon situation right now.
- deleted 2y ago
  [deleted]