I recently spotlighted a home in Bernal Heights that had been sold in September 2010 for $590,000 and was quickly renovated and put back on the market in January for $849,000. There was substantial interest in the property, which surprised me, as most buyers tend to not want to pay for someone else’s renovations.
That sentiment is most definitely not in play these days. And a quick update: 3719 Folsom is now in contract for well above $900,000, and garnered ten offers. Keep it in mind as you shop for newly renovated homes in close proximity to the Cortland corridor. There’s a strong demand for this type of home, whether it’s being flipped or not.