Category Archives: Maximum Overbid ™

Giants Baby! And Real Estate Too -sfnewsletter 10/17/14

sfn_logo2I just published my most recent issue of sfnewsletter (sign up at sfnewsletter.com), complete with a couple market stories and a new link to awesome things like Top 20 Overbids, Top 20 Underbids (they exist), Recent Sales, New Listings, and Stalefish (Properties on the market 30+ days):

Giants Baby! — And Real Estate Too — sfnewsletter 10/17/14

Kitchen opens to Dining area, opens to Living area

SOLD! 1582 48th Ave | Outer Sunset Top Floor Condo By Ocean Beach Gets $226,000 Over Asking

To say we knocked it out of the park on this sale would be an understatement. Transaction details below:


As much as I love doing a stellar job for the sellers I represent, it honestly pains me when we set a new high water mark for San Francisco real estate sales, because it makes it that much harder for the next buyers out there trying to buy the next property that comes along.

Listed at $589,000, we received 8 offers, 3 of which were over $800,000, and we just closed yesterday for $815,000. That’s $226,000 over asking for a condo in the Outer Sunset. Put another way, 38.37% over list price. When we had received an offer at $750,000, we thought that was going to be the best. Alas, it was not. We could have actually sold this property an hour after it hit MLS, but we declined the offer, and I pushed for an offer date. It paid dividends. The sellers are thrilled, as are the winning buyers, the the SF-Marin Food Bank will be getting a check from me shortly, and I got a bottle of Johnnie Walker Blue Label out of this deal. Suuuweet! Thanks John!

This fabulous top floor condominium in the oh-so popular Outer Sunset is one block from the Ocean, two blocks from Judah street shops/restaurants/N-Judah, and a few blocks from Golden Gate Park. This is an outdoor lover’s dream. The home features an open floor plan with living/dining area including a wood burning fireplace, partial views to the Ocean, kitchen with bar counter opening to dining area, in unit W&D, Master Bedroom with ensuite Bathroom, Central Vacuum, SxS parking, TONS of extra storage, and shared yard. Property was recently painted, has a new fence, and new carpet in common area. It’s an amazing property and we marketed it at an amazing price, not really knowing where it would sell.

If you have a property in San Francisco, and you’d like me to help you sell it, I have a great team and we’ll get it done just like we did on this, and many of the other transactions I’ve orchestrated in and around San Francisco.

Are you a buyer curious about the Outer Sunset? I know the area very, very well. I can help you. For a taster, check out this post by Refinery 29: What To Do In Outer Sunset (Slideshow)
r29outersunset

1582 48th Ave @ Lawton
List Price: $589,000
Sold Price: $815,000
10 days on the Market

-Outer Sunset: Hip By The Beach [SF Examiner]
-Some of my recent transaction [theFrontSteps - Alexander Clark]
-How I “give back” with each transaction [theFrontSteps]

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It’s Friday! Top 10 Overbids To Spark Your Cocktail Conversations Tonight

You’re all probably wondering where the hell I went. I’m here. Representing buyers and sellers in this frenzied market. This market that is full of crazy overbids, properties getting many multiples of offers, and at the same time properties that are now sitting in the dead pool. I call these “Stalefish” a.k.a. 30+ Club, and you can see some of them here.

But it’s Overbids, the Top 10 to be specific, that you came to see, so here they are. Have a great weekend!

Address BR/BA/Units DOM List Price Sold Price Overbid
3955 19th St 2/2.00/N/A 12 $1,195,000 $1,830,000 53.14%
1493 Newcomb Ave 2/1.00/N/A 3 $408,888 $623,700 52.54%
14 Ulloa St 2/1.00/N/A 25 $798,000 $1,125,000 40.98%
662 Elizabeth St 2/1.00/ 9 $799,000 $1,105,750 38.39%
369 Arguello Blvd 371 2-4 Units 29 $1,650,000 $2,250,000 36.36%
131 Harold Ave 2/1.00/N/A 16 $599,000 $805,000 34.39%
3615 20th St 2/2.00/6 13 $1,049,000 $1,400,000 33.46%
525 27th Ave 527 2-4 Units 21 $1,190,000 $1,580,000 32.77%
460 Andover St 4/2.50/N/A 10 $1,250,000 $1,650,000 32.00%
17 Valletta Ct 19 2-4 Units 36 $1,100,000 $1,450,000 31.82%

-Properties Still available [The Goods 30+ Club]

21-741-18th-ave-windowview-high-res

We Just Beat The Closest Comp By $200,000

I’m pleased to announce my clients have successfully sold their Richmond District top floor condominium for $1,200,000 (listed at $949,000), or as I like to point out, $200,000 more than the most recent, closest competitor property on 26th Ave that listed almost the same day as we did.

It’s no coincidence we knocked it out of the park. It was strategy, patience, perseverance, and knowing how to finesse each offer (we received five) to their highest and best without them walking away. Congratulations to my clients that just set the bar for Central Richmond condos – the last area of the city you can still find a deal. Let the migration begin.

-741 18th Ave, Top Floor, 2+ bedroom, 1.5 bath, 2 parking, Richmond District Condo, listed $949,000, sold for $1,200,000. Seller Representation.

15thkit

$1.6 to $2.2 – $1.2 to $1.6 – $1.6 to $2.3…San Francisco Overbids Continue With No End In Sight

Although I’ve been out and about and trying to enjoy summer, clearly the Overbid factory didn’t get the memo. Check out the most recent craziness, including one architect/owner designed house on 15th Ave that sold almost 40% over asking! To all of those that think things slow down in Summer…think again.

Top 10 Overbids for San Francisco:

Address BR/BA/Units DOM List Price Sold Price Overbid
414 Missouri St 4/3.00/N/A 6 $950,000 $1,410,000 48.42%
671 Alvarado St 2/1.00/ 12 $899,000 $1,305,000 45.16%
1426 6th Ave 3/3.00/N/A 13 $1,595,000 $2,300,000 44.20%
609 Precita Ave 2/2.00/N/A 42 $825,000 $1,175,000 42.42%
531 Sanchez St 2/1.00/N/A 8 $995,000 $1,400,000 40.70%
2570 Folsom St 4/3.00/N/A 14 $1,595,000 $2,210,000 38.56%
45 Richland Ave 3/1.50/N/A 10 $650,000 $900,500 38.54%
2628 15th Ave 3/1.50/N/A 12 $849,000 $1,175,000 38.40%
656 Arguello Blvd 2/2.00/3 21 $799,000 $1,104,713 38.26%
80 Jersey St 3/2.00/ 14 $1,195,000 $1,650,000 38.08%

Want the top 20, sign up for sfnewsletter @ sfnewsletter.com.

[Update: Business Insider Just Shared 13 Properties all Selling For $1M or more over...]

Have a great weekend!