When the big old mega-fixer farmhouse at 7 Seymour Street on the edge of NoPa came on the market just over two weeks ago, it was asking $1.295 million. Not surprisingly, the owner was looking for much more for the house. Although a few above-asking offers came in, they didn't meet the owner's expectations and the price for the home, which was built in 1869, was pushed way up to $1.8 million. It's rare to see such a huge price jump on a listing, but in this case it is meant to push buyers' offers up. The property is currently totally uninhabitable, so flippers are likely to be the buyers being targeted.
The farmhouse is currently not much more than a shell inside, with walls torn out and drywall exposed. It's not hard to see, however, how this could be a great project that could be turned around and resold for a lot of money. The main floor has eleven-foot ceilings, there is room for expansion, and the structure has some charming old bones. But $1.8 million is a big price for a fixer that's not in the Mission or Noe Valley. Will this place be able to reach its high expectations?
· 7 Seymour Street [Redfin]