Actual property lull? San Francisco house with views offered for $1.4 million over checklist value
The House:
608 Sanchez St in San Francisco
What makes it unique:
Designed by noted Bay Area architect Violeta Autumn, this three-bedroom, multi-level property in San Francisco may look as though it was plucked off a street in nearby Sausalito. Autumn designed her own Sausalito home in a similar “organic architectural” style, a philosophy of design coined by Frank Lloyd Wright that refers to buildings that are integrated with — and often inspired by — their natural surroundings. This home, just steps away from San Francisco’s Mission Dolores Park, seeks to do that with wood paneling and floor-to-ceiling windows that give out onto 360-degree views of the city. The home is the upper unit in a two-condo building, with a unique spiral staircase connecting its floors, multiple fireplaces, and plenty of outdoor and rooftop areas well suited for entertaining. With such unique features, the listing garnered plenty of interest, even though it came during a bit of a lull in the San Francisco real estate market. Even before the recent surge in mortgage rates and stock market pullback, there was a noticeable slowdown in the market beginning in early May, said City Real Estate real estate agent Lily Johnson, who listed 608 Sanchez. “It’s going to be a slow summer for SF,” said Johnson, who added that if agents were used to getting more than 10 offers on properties, they’re now lucky to get just a few. Many buyers now are exhausted by the prospect of bidding wars, and some sellers are being encouraged to pause on listing their properties until the fall. Those dynamics are paving the way for what may be more of a buyer’s market than it has been in some time, at least for a few months. Still, these trends did not keep home shoppers from checking out 608 Sanchez, which saw 200 people come through its first open house and had 45 disclosure packages out.
