Hi, I’m 118 Vernon And I Just Received 30+ Offers
Friday, May 29th, 2009
-118 Vernon, 2 bed, 1 bath, SFR, $399,000
Tags: multiple offers, San Francisco Real Estate, theFrontSteps
Archive for the ‘It is Brisk Out’ Category
394 Frederick, Before, After, Here And Gone (In Contract After 7 Days): $2,399,000
Monday, April 27th, 2009True, the market tanked. True, average home prices have come down in San Francisco. True, even A+ areas like Noe Valley and Pacific Heights have felt the pinch. False, it is death doom and destruction everywhere. Case in point, 394 Frederick St @ Belvedere in Cole Valley, is an awesome 4 bed, 4 bath, 3173 square foot home that spent a staggering 
7 days on the market (one Sunday Open House, one Broker Tour) and received an offer with non-contingent financing (means they’re getting a loan, but they’re not worried about that loan approval falling apart), the offer is really close to asking, and it’s damn near a done deal.
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Call us crazy, but we’ve seen a lot of activity in the market as of late, at all price points.
For those wondering, last sale was in 2005 for $1,755,000 (asking was $1,395,000) but has since undergone a significant remodel, and added roughly 1209 square feet.
Kitchen Before:
Kitchen After:
Living Room Before:
Living Room After:
We’ve long stood by Cole Valley as a better investment than Noe Valley. Is the writing appearing on the wall? Time will tell. Maybe real estate doens’t suck after all.
-394 Frederick [MLS]
Tags: Cole Valley, Luxury Homes, san francisco, San Francisco Real Estate
12 Offers On One Property In This Market?
Friday, April 3rd, 2009The story for 214 Dorland is not something you’d expect to hear in this market. More than 20 disclosure packages were handed out, an offer date was set (on April Fool’s Day no less), and contrary to what most would think, the offers came streaming in…12 of them to be exact.
To counter those that will be quick to jump and say, “The deal hasn’t closed yet,” if this first offer falls out, there are 11 others to fall back on.
Would that mean this two bed, one bath condo in Dolores Park, priced at $629,000 is defying the odds, or starting a new trend? We leave that debate to you, and the powers that be.
[Update: Last sale April 1999 for $745,000 for the entire 2-unit building. The 2-unit building just condo converted this week.]
Ripple In Still Waters, Lake District Condo Moves Fast (64 7th Ave)
Wednesday, February 4th, 2009
Although MLS still reflects the Lake District condominium at 64 7th Ave (3 bed, 2.5 bath, 1 pk, $1,535,000) as “active”, sources close to the sale are telling us it is in contact after a short five days on the market.
Call it luck, call it buyers that don’t read the newspapers (bless them), or call it a very nice home in an excellent location that somebody just had to have, and we’ll call it something we’re seeing more and more of, and you’re hearing less and less about.
That backyard is going to be a great place for a party, what should we bring?
-64 7th Ave…3 bed, 2.5 bath, 1 pk, $1,535,000 [sfnewsletter listing detail]
Tags: Lake, san francisco
Quick Flip at 733 Front Street
Tuesday, October 21st, 2008[Update 10/20/08: Sold, $1,725,000]
On the other side of the equation, let’s take a look at 733 Front #605.
One of the first resales at this conversion building down in the Financial District, #605 was sold through the sales office for $1,600,000 only about three months ago. The unit directly below it #505 was sold for around $1.7M and received three offers (floor plan was a bit different, but not by much). Unit 605 recently listed at $1,695,000 and boasts one of the few corner views, (not to mention 4 storage spaces), it is now in contract a mere 6 days after hitting the market.
This market is anybody’s guess, because it sure is making my head spin.
-733 Front #605 [MLS listing detail]
Tags: Financial District, flip, san francisco, San Francisco Real Estate
…and It’s Gone: 2730 Fulton Flips and Flies
Monday, October 13th, 2008You might remember our post not too long about about the seemingly quick flip at 2730 Fulton, where we saw this property sell in March for $1,605,000, come back on the market (cosmetically modified) mere months later for $793,000 more, and we scratched our heads as to the outcome.
Before:
After:
Well, we needn’t wonder anymore. It has closed escrow for $2,415,000 (slightly above the $2,398,000 asking price) but well above the “most recent sale” in March. We’d have to say that was a pretty damn successful flip in an otherwise unsuccessful market. If you can’t agree, you need help.
Maybe the new Academy of Sciences a stone’s throw away had something to do with it?
-2730 Fulton [MLS Details]
Tags: sales
Como Se Dice… Gonzo? 1080 Chestnut #14A, one day on and gone!
Wednesday, June 25th, 2008One day on, one day off…1080 Chestnut #14A, a 3 bed, 3.5 bath, 2600 square foot co-op sells in contract in a heart beat, somewhere around $4,500,000 (something says off-market deal, which is totally okay by us.)
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Sale is pending board approval.
-1080 Chestnut #14A [MLS]
Tags: Luxury Homes, real estate, san francisco, San Francisco Real Estate
Check Mate! One day on the market and in escrow (2401 Divisadero)
Thursday, June 5th, 2008It’s really only the kitchen floors that inspired the title “Check Mate”, or is it the quote from Eddy! that came along with his email?
[One] Day on market. In Escrow. I’d written about this one on [theFrontSteps.ORG] in the old days.
Buyers are out there and ready to strike!
We’d have to agree the high end buyers are out there, as are the mid-range buyers, but what about the low end?
-2401 Divisadero [MLS]
Tags: Architecture, real estate, san francisco, San Francisco Real Estate, theFrontSteps
188 Minna #33D (St. Regis) in contract (~$3.7M) after one week…are you kidding me!?
Wednesday, June 4th, 2008[Update: As of 6/13/2008 at 8pm, it is again available. The buyers in contract pulled out, my buyer has had a change of heart feeling SoMa is a bit "dead", so we won't be writing an offer at this time, and now we wait to see what happens.]
I can’t believe what I’m writing. Months ago I tried to tell all of you and some clients about some pocket listings (off market deals) at the St. Regis.
After playing phone tag a few times and finally getting a commitment from some clients to fly out and see unit 33D a 2 bed, 2.5 bath ~1800 sqft condo at the wonderful St. Regis, asking $3,695,000, I find out today it is in contract! (I find out after practically pleading for them not to ratify and give my clients a look.)
Are you kidding me! Why am I so upset? Because, in every other world class market in the world, when you have some clients that are ready to plunk down close to $4,000,000 it’s not much of a problem to find them a suitable home (forget personal tastes, we’re talking availability). When you live in San Francisco, it’s not so easy.
I’m disappointed, and of course had you been watching my new morphine habit (Twitter) you’d already know this. Silver lining…I know of more pocket listings at the St. Regis, so I’ll live to fight another day.
Tags: Luxury Homes, real estate, san francisco, San Francisco Real Estate, theFrontSteps
Help some clients decide on an offer (579 23rd Ave)
Tuesday, June 3rd, 2008We’re going to get a little Web 2.1 for the moment and do something we can’t recall ever seeing anywhere on the web (please correct us if we’re wrong), and that is open up the mic to advice on a price when an offer is in hand as of moments ago. Had you seen me twittering about last night’s showings, you’d have known we were close to an offer yesterday. Now, it’s back to the blog.
So…some clients would like some help deciding about an offer that was received on their home yesterday at 579 23rd Ave.
Obviously, we can’t go into detail about anything on the offer (especially price), but we can ask what you’d pay for it and if you’d take any one, or all three, of the scenarios below.
1. Offer is above asking by $20k
2. Offer is at asking of $879k
3. Offer is below asking by $20k
Down payment is equal to or greater than 20%, inspections waived, close of escrow 45 days. Good offers, or should the clients hold out for something better?
We know what we’d do, and we’ve already given our advice to our clients, but what would you do? That’s what we want to know!
-579 23rd Ave [MLS]
Tags: real estate, san francisco, San Francisco Real Estate, theFrontSteps
153 Avila: A done deal and providing a bit of “color”
Friday, May 16th, 2008Recently we had someone ask if we could “provide a bit of color on 153 Avila”, a contemporary 3 bed, 2.5 bath, single family home in the Marina asking $2,695,000, and as a matter of fact, we can provide some “color”.
It sold after 14 days on the market for $2,975,000 (10.4% over asking) or $1202.51 per square foot. As for who’s house this is, PropertyonFire tells that. Hope that helps and glad to provide some “color”. Tough market down there in the Marina isn’t it?
Update: Here’s some more color…this home was listed by the owner (we call that FSBO) for $2.6M not too long before hitting MLS. A friend of ours wrote and presented an offer for $2.55, and the seller basically laughed them away. Our friends, and everyone who knows about sales on that block for that matter, told the seller he is nuts and “will never get $2.6M”. And look what happened! We might as well call it $3M at this point.
Those folks that bought 451 Avila just made what we like to call instant equity.
-153 Avila [listing detail]
-$600,000 Over Asking on Avila [theFrontSteps]
Tags: real estate, san francisco, San Francisco Real Estate, theFrontSteps
More of the same for San Francisco Luxury Real Estate (2221 Baker: Sold $4.2M)
Friday, April 25th, 2008Forget the asking price ($3,795,000) and forget the selling price ($4,200,000) of this five bedroom, four bath, 4224 square foot mansion in Pacific Heights, instead focus on the DOM (11).
-2221 Baker [sfnewsletter listing detail page]
Tags: Luxury Homes, real estate, san francisco, San Francisco Real Estate, theFrontSteps
The Wall Street Journal reports on Overbids?
Thursday, April 24th, 2008Aldo Congi…Capo di Capi telling it like it is. Andrew, you kind of fumbled a bit, but we’ll let it slide. And who was that that walked out of the bathroom in the middle of your interview!? Gasp….
[brightcove vid=1513327670&exp=452319854&w=486&h=412]
No way! It’s not happening. Really it’s not. The market has tanked. This report was from 2005. The Wall Street Journal just wasted their time. (sarcasm, sarcasm, sarcasm)
And on the other side of the equation, Shiller (think Case-Shiller) thinks it’s only going to get worse, like worse than the Great Depression worse. Let’s make sure we don’t invite that guy to our party!
-Home Sales Fall, but Signs of Stability Emerge [The Wall Street Journal]
Tags: real estate, san francisco, San Francisco Real Estate, theFrontSteps
Potrero Hill Home sells for $3,000,000*
Tuesday, April 1st, 2008Yes, the asterisk is there, but so too is the sale somewhere around $3M for 752 Carolina, a single family home in Potrero Hill that hit the market end of February, was in contract 8 days later and just closed escrow…cash.
Was it the suburban feel:
or the blue paint that did it?
We have to think a combination of all sorts of good San Francisco things.
-752 Carolina [listing detail page]
Tags: Potrero Hill, san francisco
When the Price is Right
Thursday, February 28th, 2008Before you haul off and shoot the messenger, this is one of many emails we receive on a daily basis. We’ve tried to tone the cheerleading down a bit, but when it keeps on coming from other sources (not Realtors) it’s kind of hard to pass up. So…
Awesome places that are priced right continue to sell at competitive prices all over the city.
19 Delmar St. [3 bed, 3 bath, $1,795,000] just went into Escrow as did two condos on Sacramento in the $2.1 range.
Lots of buyers out there! Wow.
No, this is not from MarinaPrime, ResortAtSquawCreek, Later, BoomTime, or any of the other people that sound oddly like the same person. It’s from someone entirely too well connected to not know the difference.
-19 Delmar [sfnewsletter listing detail page]
Tags: theFrontSteps
