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‘Full House’ Home Sells for Under Asking Price, and Here’s Why

“Full House” fans are in for a shock: The San Francisco home made famous by this 1980s-’90s TV sitcom has sold after two and a half months on the market—but for less than the sellers had wanted. In spite of all the hubbub surrounding this property (not to mention the Netflix spinoff, “Fuller House”), the “Full House” home sold for under asking price.

How much under? Well, not much. The 3,125-square-foot, three-bedroom, four-bathroom Victorian beauty was listed at $4,150,000, and sold for $4 million. The difference is hardly chump change, so we doubt the sellers are sobbing to sleep. Still, you’d think a home that’s a pop culture icon in one of the country’s most expensive markets could have sparked a bidding war that would have pushed the price well over asking. So what happened?

Granted, those of us who religiously watched the show may be biased by our warm and fuzzy memories of widower Danny Tanner (Bob Saget) raising his three kids (one of whom was played alternately by the Olsen twins) with the help of rocker brother-in-law Jesse (John Stamos) and best friend Joey (Dave Coulier). We may think the property (known forever to fans as the Tanner house) is downright priceless, even if it was used only for exterior shots in the opening credits. Yet in real estate, a home is worth only what a buyer will pay.

“I’m not surprised at all that the home sold for under asking,” says Texas Realtor® Wendy Flynn. “Many sellers suffer from the ‘endowment effect,’ which is thinking our possessions are worth more than they are in reality. This is especially true when sellers have a unique property.”

In fact, the home’s uniqueness might have been part of the problem.

“The house did have some very taste-specific décor which may have limited its buyer audience,” says Florida Realtor Cara Ameer. “Some of the rooms appeared to have a bit too much furniture, which could have made it appear smaller and cluttered.”

There’s also the luxury home market softening nationwide.

“According to the Institute for Luxury Home Marketing luxury housing report for August, 41% of luxury properties nationwide have had a price decrease,” says Ameer.  “In San Francisco, the average price of a luxury home is $3,550,872. So, the ‘Full House’ owner did exceed the average market price by over half a million dollars, which is not too shabby.”

After all, it’s hard to put a price tag on fame when it comes to real estate.

“The celebrity stature of a home does help to drive a higher asking price, but it’s always hard to quantify,” says Ameer. “‘Full House’ was popular during its time on television, but I would say it’s perceived more as a ‘has been’ with limited appeal, versus properties that have been more recently featured or belonging to more notable individuals.”

In other words, the interest in a home featured on a show that’s hot today (think “Empire“) might spark a bidding war which would push the price way over asking. But the Tanner house, though nice, is running mostly on the fumes of nostalgia.

Ameer adds: “The reaction to someone who says he lives in the ‘Full House’ home would be more one of ‘That’s neat’ versus ‘Oh my gosh, when can I arrange a tour to see it?’”

Sorry, Tanner house. We love you, but not that much.

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