Has the housing bubble popped in San Francisco? Yes, but not everyone's figured it out yet.
Fairly priced homes tend to move within a few weeks. But check out the listings around town, and you'll notice a plethora of homes sitting on the market since last winter. Some are desperate rescues of failed flips in grimy neighborhoods. Some have been divided and subdivided into oblivion. (Ever seen a 900-square-foot house with five bedrooms? Now I have.) And many are just grungy old homes that need new floors, fixtures, and $200,000 price reductions.
A perfect example of the latter case is this beaut, which has been on the market for 264 days with no action on its $799,000 price tag. Three bedrooms and a lot of work needed, in a nice but not particularly upscale neighborhood south of Sloat Blvd.
It looks like a lot of crappy old houses in SF, until you get downstairs and see this:
What's that on the right? Is that a mattress in there?
This is either where an undead creature spends its day, or the world's smallest unwarranted inlaw. Don't ask the Realtor which. She doesn't know.
But at least they've finally started including the picture of this "feature" in the listing. Maybe a vampire can afford the $159,800 required down payment.