Maximum Overbid of the Week | Bernal Heights Fixer Wins Again

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:

Address BR/BA/Units DOM List Price Sold Price Overbid
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%
topoverbid

Fixers Take The Cake | San Francisco Top 10 Overbids

If you look at nothing else on these property lists I’ve posted below, have a look at the top 3 overbids…and my gallery of favorite photos.

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Top 10 Overbids of the week:

Address BR/BA/Units DOM List Price Sold Price Overbid
566 6th Avenue 568 2-4 Units 21 $895,000 $1,800,000 101.12%
11 Hiliritas Avenue 2/1.00/N/A 11 $899,000 $1,525,000 69.63%
701 Teresita Boulevard 2/1.00/N/A 20 $699,000 $1,152,000 64.81%
363 Valencia Street 1/2.00/4 7 $995,000 $1,575,000 58.29%
2400 Pacheco Street 2/1.25/N/A 17 $799,000 $1,200,000 50.19%
2070 16th Avenue 2/2.00/N/A 21 $995,000 $1,482,000 48.94%
1072 Noe Street 2/1.00/N/A 8 $1,898,000 $2,800,000 47.52%
578 Elizabeth Street 2/1.00/N/A 0 $1,495,000 $2,200,000 47.16%
331 Connecticut Street 2/1.00/N/A 15 $1,199,000 $1,750,000 45.95%
617 Capp Street 619 2-4 Units 17 $995,000 $1,450,000 45.73%



Notable Sales

Address BR/BA/Units DOM List Price Sold Price
1694 York Street 5/3.00/N/A 63 $1,450,000 $1,415,000
39 Boardman Place 1/1.50/304 18 $879,000 $938,000
1810 Green Street 3/3.50/ 45 $2,795,000 $3,400,000
322 Rutledge Street 3/2.50/N/A 34 $1,995,000 $2,000,000
2653 Post Street 2/1.00/ 30 $795,000 $925,000
1911 34th Avenue 2/1.00/N/A 11 $749,000 $750,000
425 1st Street 2/2.00/2702 90 $2,149,000 $2,050,000
16 Jessie Street 0/1.00/407 68 $625,000 $625,500
354 24th Avenue 4/3.00/1 32 $1,295,000 $1,481,321
2542 Sacramento Street 1/1.00/102 23 $679,000 $800,000


Have a great weekend. As always, I’m here to help you, and everyone you know, buy and sell San Francisco/Bay Area real estate. Just give me a shout.

Beautiful 2 Bedroom

SOLD | 220 Mullen | Bernal Heights | $1,015,000

mullenkitchen
I’m happy to report my client successfully beat out multiple buyers on this great two bedroom home at 220 Mullen in San Francisco’s Bernal Heights neighborhood. Listed at $799,000, our original offer was countered by the seller, along with some of the others (we call that “multiple counter offer”), and low and behold, we prevailed. The home is perfect for my client now and in the future.

Congratulations! You deserved this “win” after those other painful losses.

220 Mullen, 2bed, 1 bath, $1,015,000, Bernal Heights [Property detail page]

Ocean Beach Gem

SOLD | 624 46th Ave | Outer Richmond

I am pleased to announce the successful buyer representation on this awesome ocean view home in the Outer Richmond at 624 46th Ave.

The day it came on the market my client sent me a text, and I got him in a couple hours later. While I was standing on the bluff checking the surf, we wrote an offer, I contacted the listing agent, and I presented our offer via mobile device. I went surfing, and by the time I got back on land, our offer was accepted…and why wouldn’t it be!?

Great work and thanks to everyone involved in this sale, particularly my assistant, and congratulations to my buyer that is going to make this one amazing home. I’m totally jealous, and can’t wait to see what becomes of it.

Act fast, go big, and you too can prevail in this insane real estate market of San Francisco.

624 46th Ave, Outer Richmond Buyer Representation

Gorgeous Ocean Views

SOLD (In One Day) | 192 Seal Rock Dr. #2 – Outer Richmond

Remember when I said, “Something tells me this property won’t last long, so don’t drag your feet“? I wasn’t kidding. We put this on MLS Monday for $659,000, received two cash (pre-emptive) offers on Tuesday, and we closed for $735,000 today…not bad for an Outer Richmond 853 square foot, one bedroom TIC.


There is an art to this kind of result when selling a property, and it doesn’t come from throwing a sign up, and opening your front door. If you’re thinking about selling your property, or know anybody else who might be pondering the bags of money they’re sitting on, give me a shout. I’m here to help.

The property details:

Top Sales Over Asking In San Francisco For The Last Two Weeks

I get a lot of people in real estate in other markets around the country contacting me and telling me their market is crazy good. I have to nod my ahead and agree, “Uh huh. Yep. That’s impressive.” But really, it’s not. San Francisco real estate is an entirely different beast. Case in point, the most recent overbids:

Address BR/BA/Units DOM List Price Sold Price Overbid
219 Richland Ave 3/1.00/N/A 15 $818,000 $1,250,000 52.81%
1527 Ofarrell St 3/2.00/ 4 $899,000 $1,300,000 44.61%
317 Crescent Ave 3/3.00/N/A 28 $995,000 $1,425,000 43.22%
610 Russia Ave 2/1.00/N/A 13 $599,000 $850,000 41.90%
2909 Jennings St 1/1.00/N/A 8 $190,000 $269,444 41.81%
173 27th St 3/1.00/ 22 $900,000 $1,265,000 40.56%
1223 Bosworth St 2/2.50/N/A 24 $1,495,000 $2,100,000 40.47%
354 28th St 2/1.00/N/A 19 $1,100,000 $1,525,000 38.64%
432 Moraga St 3/2.00/N/A 12 $889,000 $1,220,000 37.23%
755 Mangels Ave 5/3.00/N/A 11 $959,000 $1,315,000 37.12%

In case you’re wondering, yes, we have Underbids too.

Olé!

Something For You Fence Sitters And Gold Panners To Ponder…

1761hayes

My clients just got shelled by 16 other offers on 1761 Hayes, a top floor 2 bed, 1 bath condo in NOPA asking $849,000. We offered $1,051,000, and they accepted an offer that was “barely higher”. So here’s a thought:

I’d say it’s time for many of you long time residents sitting on the selling fence to pack it up, cash out, and head for greener pastures where the $$$ you make on your sale can buy you acres of space, money in the bank, and plenty of breathing room. I’d even suggest all of you gold panner techies flocking to SF looking to strike it rich consider building another hub for tech activity somewhere else. Don’t get me wrong, I love all of you, many of you are my clients, we love what you’re doing for the economy (for that matter, the world), and there is a reason everyone wants to be in San Francisco, but at some point, I’d think even you, the innovators, would get tired of throwing your money at sellers and it still not being enough. Surely, the internet works in other locales around the world, and surely companies can be built and go viral from anywhere. Perhaps the companies that are leading the innovation now should open satellite offices in markets where their talent can afford to live? I know Oregon, Seattle, and Salt Lake City have a reasonable real estate market, as well as hip scene. Makes perfect sense to me, and might ease the frenzy that is San Francisco real estate. What do you think?

On a side note (somewhat related to technology): in case you aren’t on the VIP list, and you’re stuck waiting in line for your real estate agent to send you stale data via snail mail about recent sales in your ‘hood, comps that by the time they reach you are old news, I published yet another issue of sfnewsletter last week, and it’s chock full of good real estate porn, including a few good overbids you’ll want to share amongst friends, and a link to the stuff you really want: real time market data sortable by neighborhood and property type (courtesy of The Goods-SF).

Get on the list at sfnewsletter.com. Get out of town with money in the bank by giving me a shout (alexclark@gmail.com, 415-254-5351).

1761 Hayes Property Detail [theGoods-sf.com]

Maximum Overbid Monday!

Well now that we have the government shutdown (temporarily) behind us, let’s get back to the market at hand. It would appear there is a bit of a calm washing over our waters, but open house activity is still through the roof, so we might indeed be stuck in this craziness for a while. Case in point, San Francisco’s most recent Top 10 Overbids.

Rank| Address | Property Type | Bed/Bath | DOM | Asking Price | Sale Price | % Over

#1-709 York St: Single-Family; 2/2.00; 10 DOM; $799,000; $1,150,000; 43.93%
#2-152 Hancock St: 2-4 Units; 26 DOM; $1,100,000; $1,557,000; 41.55%
#3-82 Peralta Ave: Single-Family; 3/2.00; 28 DOM; $998,000, $1,380,000; 38.28%
#4-514 Precita Ave: Single-Family; 2/1.00; 11 DOM; $925,000; $1,255,000, 35.68%
#5-130 Randall St: Single-Family; 3/1.50; 7 DOM; $1,195,000; $1,575,000; 31.80%
#6-3901 17th St: 5+ Units; 28 DOM; $2,300,000; $3,025,000; 31.52%
#7-327 Richland Ave: Single-Family; 3/1.00; 35 DOM; $749,000; $980,000; 30.84%
#8-515 Powhattan St: Single-Family; 2/1.00; 13 DOM; $708,000; $925,000; 30.65%
#9-4430 Cabrillo St: 2-4 Units; 14 DOM; $925,000; $1,200,000; 29.73%
#10- 1108 Cabrillo St: Single-Family; 3/1.50; 11 DOM; $1,295,000; $1,677,000; 29.50%

[Copyright ©2013 TheGoods-SF.com. Visit www.thegoods-sf.com for more information. Data feed from SFAR MLS deemed accurate but not guaranteed.]

This data set reflects properties that got into contract on average 30+ days ago, so it will be interesting to see how this continues. We look forward to providing this information to you every Monday, now that the Goods has made it easy for us to share it, so come on back!

REALLY Expensive Real Estate…Like $35,000,000

Twenty-nine fifty Broadway sold “off market” last month for $35,000,000.

2950BroadwayFacade
[Photo Source: SocketSite]

As reported on SocketSite today:
“Hidden behind non-disclosure agreements and tax records stamped “DO NOT FILM,” you’re not supposed to know about the sale of 2950 Broadway which was purchased for $29,500,000 in 2011, remodeled a little last year, and very quietly sold off the market last month. But now you know. And you’re about to know the record setting sale price as well.

With a sale price of $35,000,000 (roughly $3,182 per square foot) and $875,000 in transfer tax confidentially paid, 2950 Broadway has just displaced 2840 Broadway to become the most expensive single-family home ever sold in San Francisco.”

Wow…and some people will wonder and cry foul that it never hit the MLS.

San Francisco’s Million Dollar (Sold Property) Club

A quick look at all of the million dollar plus sales (142 of them) in San Francisco in the last month for properties that closed escrow between 8/19 and 9/19/2012.

[Please note: Clicking an image below will not take you to that property’s details page, simply a bigger photo. To see details, hover over photo, see address, and find it on the list of properties below, or contact me for details. Sorry for hassle.]

Instead of being able to share all of these properties, with photos, under one link, MLS puts a limit on that of 100 properties…so we had to break it up. Details below, and kudos if you’re in the club:

Click here for the Comparative Market Analysis Version (all in one, no pics) [MLS]
Click here for the Detailed Version, including pics, for Single Family Homes and 5+ Units [MLS]
Click here for Detailed Version, including pics, for Condominiums and 2-4 units [MLS]