The Craziest Real Estate Deals in California in 2022!
Ever wondered of the top 3? Well, that is an interesting thing to learn, so let’s talk about it!
Compared to 2021, 2022 was a drastically different year for real estate. The average time it took to sell a home in San Francisco last year was 16 days, and 72.9% of those sales were above the asking price. That madness came to an end in 2022 as a result of circumstances like rising interest rates and a slump in the IT industry, which gave buyers of homes more clout in the second half of the year.
The priciest property sales in San Francisco in 2022 provide as evidence of this change in power. These residential sales, which are listed on the multiple listing service, even if they show purchases in the tens of millions, do not reflect the feeding frenzy luxury real estate saw in 2021.
The three major winners in 2022 show what San Francisco real estate agent Alexander Clark, founder of theFrontSteps, calls a “general shake-up” in the SF metro. “What stands out is the shift in dynamics of the market beginning in June of this year,” he said. “That is when rates really started to climb, and buyers became increasingly more stubborn.”
Only one of the top three on-market sales was subjected to the humiliation of a below-list offer. It appears that in 2022, the ferocious overbidding that marked 2021 may have subsided.
Internet puzzled by mysterious chamber in a home. Let us find out!
A mansion perched above the undulating hills in Placerville, California, went on the market in July for about $1 million, and it instantly generated buzz online.
The 4,400-square-foot, three-bedroom house featured an odd feature that made it stand out from other 1970s hillside homes: a massive, 2,000-square-foot white warehouse with seemingly limitless shelving that was simply called “The Room.”
Users were all intrigued, concerned, and alarmed after the listing was posted on the well-known Zillow Gone Wild Twitter account. One user called attention to the metal door leading to “The Room,” which looks to lock from the outside, and others compared it to the residence in the psychological thriller “The Handmaiden” or the trophy room in “Dexter: New Blood.”
We contacted listing agent Kelli Griggs of Navigate Realty because we needed further information.
“It was an elderly woman who loved stuff.” says Griggs. He said it took nine months to remove “all the stuff” from the home after the owner died. “She was a collector of all things. Shopping apparently gave her great pleasure. It was very tidy and organized and neat. It wasn’t full. It was in anticipation of filling the space, it brought her great joy. It was the craziest thing.” he then added.
In the end, the spooky room didn’t completely turn off purchasers – records show 7652 Kona Court sold for $750,000 in November. We needed more information, so we called with listing agent Kelli Griggs of Navigate Realty.
Brad Pitt pays the price of $40 million for a clifftop castle
A historic clifftop mansion on the California coast cost one of the world’s biggest movie stars a cool $40 million this past summer. The famous D.L. was bought by the actor. In a July agreement, the Wall Street Journal referred to James House, perched over the Carmel Highlands bluffs, as “one of the priciest ever closed in the Carmel area.”
The castle is Pitt’s most recent addition to his holdings, which also include the allegedly spooky Briarcliff Manor near Los Angeles. Cassandra Peterson, better known as horror presenter Elvira, sold the property to Pitt.
Western White House in the Bay Area sells for $10 million less than asking price
After a year on the market, one of the largest estates in one of the richest neighborhoods in the nation sold for “just” $15 million in September – $10 million below the asking price. The 24-room, 25,000 square foot estate is located at 401 El Cerrito Avenue in Hillsborough on roughly 3 acres of property. The enormous house was rebuilt by renowned architect Julia Morgan at George Hearst’s request to resemble the White House after a fire seriously destroyed it in the 1920s. For William Randolph Hearst, the son of Hearst, Morgan had earlier created the far more lavish Hearst Castle.
There is a lot of marble and silk inside the building. The four stories of the house are accessible by an elevator and two grand staircases. Three cut-glass chandeliers are suspended from the ceilings. In order to allow employees to raise and lower the chandelier to clean it, Morgan reportedly even cut a trap door into the third story above the formal dining room.
Selling of the penthouse unit in the renowned Flatiron building in Oakland
The copper-green Sentinel Building on Columbus Avenue in San Francisco, which houses Francis Ford Coppola’s film studio American Zoetrope, is likely the most well-known example of this type of architecture in the Bay Area. But in Oakland, where two of the busiest streets in the East Bay intersect, you may see the most elaborate flatiron architecture in the area. The triangle penthouse apartment at 1615 Broadway, which has a distinctive two-story design and a private roof deck, sold for $1.62 million in October.
One of the Bay Area’s most famous restaurant chains, Doggie Diner, had a location on the bottom level of the Cathedral Building during the 1960s and 1970s, however old photographs reveal that this location did not have a huge rotating dachshund head.
A wine refrigerator, stone countertops, and a private elevator are some of the contemporary features of the penthouse. According to the blurb provided by the listing agent, the apartment features rooftop views of the city and San Francisco as well as being close to the popular Uptown neighborhood and the famous Fox Theater.
The popular “tree” house on Pismo Beach isn’t quite as absurd as it seems.
We wrote about an extraordinary Pismo Beach home that is figuratively wrapped around an oak tree back in July. Living in the expansive nine-bedroom property’s meandering branches may seem like a scene out of a Narnian fantasy, but SFGATE learnt from a former tenant that it was more like something out of a horror film.