In late February, a very run-down four-bedroom house along the Outer Sunset's Great Highway listed for $799,000. The listing warned that the property was "in a deteriorative state" and that it was "not for the novice" to fix up. The property looked to be almost ripped apart, with carpeting torn off the stairs, drawers and appliances pulled out of the kitchen, and a boarded-over hole in one door. None of that mattered to the buyers, who saw potential in the ocean views and paid $1.21 million in all cash. The final price came in at $411,000 over asking.
When the home last sold back in 2008, it was well kept and very livable. Listing photos showed a stained glass front door, a vintage but tidy kitchen, and a neatly kept backyard. It sold for $935,000 back then. The state of disrepair that the property fell into during the ensuing years is sad, and it's hard to see how it deteriorated so quickly without some very destructive use. It's almost certain that flippers bought this place, meaning that it will likely be completely transformed over the next year or so.