[Editor’s Note: As part of my commitment to San Francisco and the greater good of all residents in this wonderful city, I have teamed up with some USF Journalism students to allow them to get their feet wet with writing/blogging/marketing on a larger scale. This is the first post of hopefully many, and I thank Kianna Fernandez (USF Student/ tFS Intern) for her time, her efforts, and her excellent first effort with this piece on theFrontSteps.]
It’s Friday! Yeah! (If you’re not a Realtor who works every weekend.) That means overbids, and look at that, another fixer takes the cake. This time it’s 554 Anderson in Bernal Heights, a 2 bed, 1 bath home listed for $549,000 and sold for $920,000. As for the rest of the top 10, I think this is the first time we’ve seen the list not contain one single property over $2,000,000.
Top 10 San Francisco Real Estate Overbids:
|554 Anderson Street||2/1.00/N/A||10||$549,000||$920,000||67.58%|
|1397 12th Avenue||2/1.00/||38||$525,000||$750,000||42.86%|
|2751 23rd Street 2753||2-4 Units||14||$1,200,000||$1,700,000||41.67%|
|2077 Jackson Street||2/2.00/301||21||$995,000||$1,220,000||22.61%|
|933 Stanyan Street||3/2.00/||9||$1,399,000||$1,700,000||21.52%|
|264 Grand View Avenue||1/1.00/N/A||37||$998,000||$1,192,999||19.54%|
|191 Cleo Rand||2/1.50/||15||$528,000||$630,000||19.32%|
|566 South Van Ness Avenue||2/2.00/9||76||$795,000||$945,000||18.87%|
|518 Oak Street||2/1.00/N/A||13||$1,249,000||$1,475,000||18.09%|
|1535 Oak Street||1/1.00/2||41||$699,000||$815,000||16.60%|
You gotta love a market (as a seller) where an agent can use the most eloquent of beautifully descriptive words to sell such a wonderful property, in such immaculate condition and still easily (likely with stacks of offers) get a property sold.
From the marketing:
A complete TEAR-DOWN! Beyond the external frame, this home is severely damaged/charred/burned from a fire last May 2014. No electricity so access is limited to morning hours only. All potential buyers to sign a Hold Harmless Agreement prior to access. Probate sale, no court, no death in prop w/in last 3 years. NOT in habitable condition, this is more than a fixer, it’s a complete tear-down!
Listed for $299,000 (that had to be a record in and of itself), this wonderful Ingleside Heights Home just closed for $485,000.
Hey! Look on the bright side…nobody died in the property…at least “within the last 3 years”, and maybe, just maybe, the city will actually let you tear the whole thing down and start fresh.
As for the rest of the top 10 Overbids, here you go.
|171 Bright Street||0/1.00/N/A||16||$299,000||$485,000||62.21%|
|1139 Green Street 1139||2-4 Units||12||$1,299,800||$1,710,000||31.56%|
|1161 York Street 1163||2-4 Units||27||$1,200,000||$1,560,000||30.00%|
|1819 26th Avenue||2/1.00/N/A||42||$775,000||$1,000,000||29.03%|
|39 Bradford Street||2/1.00/N/A||29||$998,000||$1,250,000||25.25%|
|721 Delano Avenue||1/1.00/N/A||28||$569,000||$700,000||23.02%|
|111 Harold Avenue||2/1.00/N/A||80||$599,000||$720,000||20.20%|
|526 34th Avenue 528||2-4 Units||41||$1,920,000||$2,240,000||16.67%|
|427 Parker Avenue 429||2-4 Units||58||$2,200,000||$2,550,000||15.91%|
Happy Friday, and welcome to the new look of my new site. Still a bit of dust and debris laying around, but for the most part, we’re open for business.
Sometimes I post real estate stuff, sometimes I post about things I love. Mostly, I just want to test how a video looks on my new site design. Regardless, here’s to El Niño doing his thang…
Forty-two and one half percent of SF renters are cost-burdened, compared to 51.8% national average, study shows.
Apartment List recently analyzed Census data from 2007-2014, to see which cities and states have the most cost-burdened renters (those spending more than 30% of their income on rent). Nationwide, 52% of renters are cost-burdened, up from 24% in 1960 and 38% in 2000, but the numbers vary depending on city and state.
Here are some of the highlights from their report:
1. The share of cost-burdened renters in San Francisco decreased from 42.7% in 2007 to 42.5% in 2014
2. The share of cost-burdened renters in the US rose from 49.3% to a high of 53.4% in 2011 – an increase of 1.7 million renter households. It has fallen a bit since then, to 51.8% in 2014.
3. Surprisingly, San Francisco, Seattle, Denver, and Austin performed relatively well – incomes have largely increased in line with rent growth.
4. Miami, Detroit, and Los Angeles were among the worst performers in our study, with more than 60% of cost-burdened renters.
They have data for 50 states, 454 cities, and 922 counties across the United States, so feel free to reach out if there is specific data that you are interested in seeing.
The way I see it, if you plan on staying in San Francisco for a long time, figure out a way to buy, not rent.
Who prices a top floor Mission Dolores 2 bed, 2.5 bath, 1328 square foot condo WITH PARKING, and roof deck, in the epicenter of hip at $998,000 anyway! Everyone knows the going rate is at least $1000 per square foot. Teaser price. Teaser.
Anyhow, this week’s top spot on the list of jaw dropping Overbids goes to 425 14th Street #4. A sweet condo in a hot location with everything you need to live the San Francisco dream.
|425 14th Street||2/2.50/4||13||$998,000||$1,500,000||50.30%|
|1534 44th Avenue||3/2.50/N/A||14||$899,000||$1,280,000||42.38%|
|1351 10th Avenue||3/2.00/N/A||16||$1,189,000||$1,665,000||40.03%|
|472 12th Avenue||2/1.00/||22||$899,000||$1,250,000||39.04%|
|1459 31st Avenue||4/2.00/N/A||21||$995,000||$1,290,000||29.65%|
|724 Masonic Avenue||2/1.00/||13||$997,000||$1,280,000||28.39%|
|2514 40th Avenue||3/2.00/N/A||12||$799,000||$1,020,000||27.66%|
|15 Scotia Avenue||3/2.00/N/A||11||$688,000||$868,000||26.16%|
|1497 Palou Avenue||4/3.00/N/A||39||$719,000||$905,000||25.87%|
|333 Dellbrook Avenue||2/1.00/N/A||13||$925,000||$1,150,000||24.32%|
To the listing agents, who I know very well, thank you for understanding all of what I say is all in good fun. You did what you had to do, and you got the job done. :-)
Have a great weekend!
–More Real Estate Porn [The Goods]
A little cottage all of 1150 square feet with many “period details”, and situated in the heart of Noe Valley, 818 Douglass takes this week’s Maximum Overbid cake, gets $1,574 per square foot, and puts fixers back on top.
As for the rest of the top 10 Overbids…here you go:
|818 Douglass Street||2/1.00/N/A||11||$1,095,000||$1,810,000||65.30%|
|43 Everson Street||6/3.50/N/A||10||$1,585,000||$2,350,000||48.26%|
|926 Teresita Boulevard||3/1.00/N/A||12||$1,049,000||$1,550,803||47.84%|
|31 St Charles Avenue||3/1.00/N/A||20||$599,000||$788,000||31.55%|
|715 Amazon Avenue||3/2.50/N/A||18||$995,000||$1,300,000||30.65%|
|71 Sala Terrace||4/2.00/N/A||42||$599,000||$780,000||30.22%|
|154 Yerba Buena Avenue||2/1.50/N/A||34||$1,595,000||$2,050,000||28.53%|
|4142 Folsom Street||2/1.50/N/A||15||$1,049,000||$1,325,000||26.31%|
|1793 Sanchez Street||4/4.00/N/A||13||$1,795,000||$2,257,000||25.74%|
Have a great weekend.
In San Francisco, just like any major city, empty/open space is coveted, as is storage space, which is not cheap. For instance, an additional storage space at one of the new developments in San Francisco, Rockwell, costs $12,000. And because of that, being creative and smart about how to store and what to store, basically getting rid of all the shit you don’t need, is important.
The folks at SpareFoot, who provide tips about self-storage, moving, home organization, and much more sent me this great infographic to share with all of you, and some great information to boot. In one of his articles, Brian Shreckengast analyzes how many storage units you’d need to store Golden Gate Park (working on that visual).
At only 47 square miles, San Francisco is one of the most compact cities in the nation. But despite its size, it’s still home to one of the nation’s largest urban parks: Golden Gate Park. At three miles long and a half mile wide, the park covers 1,017 acres and features trails, sports fields, gardens, and playgrounds. In order to better express the park’s true size, we used mapping tool MAPfrappe to draw an outline around Golden Gate Park, which we could then move anywhere around the globe. This special tool adjusted our outline’s shape to account for Google Maps’ Mercator Projection distortions, which means the size of the outline remained accurate.
If you were wondering how many 10×10 storage units you’d need to store Golden Gate Park (these are the things we think about here at SpareFoot) well, that would be 4,460,544 units. And as the average price of a 10×10 storage unit in San Francisco is $219, you could expect to pay $976,859,136 in monthly rental fees — and you thought your rent was getting bad.
(Wait for it…the image may take some time to load, it’s massive…patience…come on little buddy…there it is!)
If you price it low enough, like silly low, you can always claim “Sold for $400,000 over asking!” Neighbors, check your mailboxes and get ready for the postcards to arrive any day for this property that sold right along the lines of recent comparable sales.
This week’s winner of the top spot on the Maximum Overbid of the Week podium goes to 1723 27th Ave. A little house in the Avenues listed at $795,000, and sold for $1,200,800…make sure to throw the lucky 8 in there.
As for the rest, below are the top 10. Check the Avenues…the hottest spot in the city right now.
|1723 27th Avenue||3/2.00/N/A||12||$795,000||$1,200,800||51.04%|
|2768 35th Avenue||2/1.00/N/A||14||$795,000||$1,150,000||44.65%|
|1770 Pacific Avenue||2/2.00/402||17||$1,249,000||$1,775,000||42.11%|
|1370 31st Avenue||3/2.00/N/A||35||$989,000||$1,380,000||39.53%|
|722 Wisconsin Street||1/1.00/N/A||9||$899,000||$1,230,000||36.82%|
|630 15th Avenue||3/2.50/N/A||34||$1,379,000||$1,825,000||32.34%|
|1006 Capitol Avenue||3/1.50/N/A||7||$699,000||$925,000||32.33%|
|219 Hearst Avenue||2/1.00/N/A||34||$888,000||$1,175,000||32.32%|
|318 Byxbee Street||3/1.00/N/A||12||$699,000||$915,000||30.90%|
|228 Scott Street||2/2.00/||12||$995,000||$1,300,000||30.65%|
Have a great weekend! Check back next week for more, and follow this link for Overbids, Underbids, Stalefish, New Listings, and all of San Francisco’s Recent Sales (thanks to The Goods).