1333 Jones St., Nob Hill San Francisco

13% Under Asking In Nob Hill | That’s An Audi R8

Hope everyone had a great Thanksgiving! I know I did. Back to the grind…

With the grind comes daily ganders at all things San Francisco real estate, and today is no exception. Check out this this Nob Hill Co-op apartment at 1333 Jones topping our weekly list of underbids (because they do exist).
1333jones

Listed just under $1.5M and sold for $1.3M… that’s gotta put a smile on your face. The $200,000 savings can put an Audi R8 in your garage (it is holiday season after all), or your kids through San Francisco pre-school (go with the R8). :-)

Hey look! Two other full service bachelor pads also sold under asking recently: one at the Four Seasons and the other at the Ritz Carlton. Underbid by about 8% after being on market for 339 and 227 days respectively. Wowza…

Anywho…the weekly top 10 list of Underbids for your Monday viewing pleasure:

Address BR/BA/Units List Price Sold Price Underbid
1333 Jones #801 1/1.5/1 $1,495,000 $1,300,000 -13.04 %
2955 Pacific Avenue 3/2/1 $4,100,000 $3,650,000 -10.98 %
2535 Vallejo Street 3/3.75/2 $6,275,000 $5,600,000 -10.76 %
956 South Van Ness 4/3.5/2 $2,995,000 $2,674,000 -10.72 %
3283 25th Street 2-4 Units $1,788,000 $1,615,000 -9.68 %
765 Market Street #27B 1/1.5/0 $1,550,000 $1,415,000 -8.71 %
690 Market Street 1/2/1 $1,150,000 $1,050,000 -8.70 %
3236 Scott Street 5+ Units $2,450,000 $2,250,000 -8.16 %
825 Rhode Island Street 4/3.5/1 $1,895,000 $1,750,000 -7.65 %
1069 Capp Street 5+ Units $1,799,000 $1,675,000 -6.89 %
Screen Shot 2015-11-02 at 12.17.03 PM

$440,000 Under Asking | Personal Chapel Maybe Included, Wallpaper Definitely

It only took seven months, but in the end, it got there. SOLD for $440,000 UNDER asking!

You read that correctly, this 6-bedroom single family home in Mission Terrace at 100 Delano Avenue just closed $440,000 below the original (back in March) asking price of $1,600,000. After a price chop to $1.5, then $1.4, then again to $1.3, it appears the Lord finally took pity on this property and landed it on top of this week’s Top 10 Underbids. With plenty of extra space, awesome curtains, wow-tastic wallpaper, and your own “personal chapel” how could you not want to move right in!?

As for the other buyer scores, here you go:

Address BR/BA/Units List Price Sold Price Underbid
100 Delano Avenue 6/3/3 $1,300,000 $1,160,000 -10.77 %
355 Bryant Street 2/2/1 $2,345,000 $2,100,000 -10.45 %
18 Palm Avenue 4/3.5/2 $4,995,000 $4,525,000 -9.41 %
1264 Bush Street 1/1/0 $649,000 $590,000 -9.09 %
78 Gladys Street 3/2/0 $1,195,000 $1,100,000 -7.95 %
1437 47th Avenue 1437A 2 unit $1,275,000 $1,175,000 -7.84 %
601 4th Street #321 1/1/1 $1,499,000 $1,400,000 -6.60 %
2040 Franklin Street #506 0/1/1 $575,000 $540,000 -6.09 %
2730 Broderick Street 4/3.5/1 $5,850,000 $5,500,000 -5.98 %
301 Mission Street #51D 2/3/1 $4,495,000 $4,250,000 -5.45 %

You see…”deals” can still be had in San Francisco.

436921stknob

Eureka Valley Home Sells For (Gasp!) Almost 20% UNDER Asking?

Here’s a shocker: 4369 21st, a single family home in Eureka Valley that was listed at $1,299,950 just sold for – wait for it – 19.23% UNDER asking. That is correct.
436921stfront
Multiple offers came in, buyers lined up, ultimately a hefty Section 1 pest tab forced the seller to go with the all cash, easy peasy developer deal. Win for the seller – got it sold. Win for the buyer – got a deal. Win for the agent – double ended it.

There you have it, properties do sell under asking. So many, in fact, we also publish a list of the Top 20 Underbids to help you sleep easier at night.

Check back tomorrow for the top 10 Overbids, if you’re so inclined.

Top 20 Underbids [theGoods-sf.com]

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!

Sub 400k at 380 Monterey (#101)

It’s not very often we point out the sub $600,000, let alone the sub $500,000 San Francisco real estate market, because it’s not the most common sale in San Francisco, but what about the sub $400,000 market? It exists, albeit very minimally, and 380 Monterey #101, a 1 bed, 1 bath, 668 square foot condo in the Sunnyside is a perfect example of what you can get…it’s still close to $600/square foot, but it will only set you back $390,000.

For those that always wonder, original asking price was $449,000, so this does support the doomsday theory that more properties are selling under asking and the bottom is falling out, even if it was priced too high in the first place. Get to the right price and 95% of homes in San Francisco will still sell.

380 Monterey #101 [MLS]

Sunnyside [Tour de San Francisco (real estate) in the Sunnyside]

A done deal at 200 Brannan (#109)

Oh it’s just so awful when a property sells for under asking.  The world of San Francisco real estate has certainly come to an end when we start to see this.  We can all pack our things and head for more affordable, greener pastures.  That is, of course, unless you love yourself some loft!

After 32 days on the market, 200 Brannan #109 sold for a whopping $10,000 below list price, or more correctly stated, it sold at market value.

This is a fantastic property in a great building, and these buyers got a great price, and a great outdoor patio! They should be thrilled.

We doubt you’d find anything like this in Kansas.

200 Brannan #109 [MLS]

Mid-Century Movement (56 Clarendon)

Originally listed September 19, 2007 for $2,495,000, reduced to $2,300,000 two months later, and now sold for $2,250,000, 56 Clarendon, in Clarendon Heights, is a done deal.

56clarendon.jpg

56clarendon1.jpg

56clarendon2.jpg

Is this a significant “anecdote” of market information/fluctuation. We’ll let you decide that, we just wanted to highlight another gem of the mid-century.

56 Clarendon [mls]

more mid-century posts [theFrontSteps]

463 Nevada in Bernal on $950,000 out $775,000 (yes that’s under asking)

A reader asks about 463 Nevada, a “mid-century modern home completely remodeled in 2001 with great light and views. Perfect home for people who appreciate design and architecture from Dwell Magazine and Design Within Reach.”-agent remarks

“Hi,

i’ve always believed that you can’t lose in SF RE, especially if you wait out the lows because let’s be honest, the lows here, if they even happen, don’t happen for too long, right? Well, my view was challenged recently after seeing a beautiful house for sale at 463 Nevada St in Bernal Heights.

463nevada.jpg

It was completely gutted and remodeled in 2001. While the colors were too bright for my taste (and i think probably most people’s taste) the house itself is a gem with the only work needed to it is to tame those bright colors with a nice coat of paint. Nice hardwood floors, top of the line appliances, 3bd/2ba and a garage..a rarity in SF! :-)

Listed at 950K , I thought the price was steep but then learned that it just sold for 775K. How is that possible?

463nevadakit.jpg

It gets better. It was listed as 900 something sq feet per tax record [Editor’s note: Indeed, 980] but agent claimed it as 1250 which is a somewhat substantial discrepancy.”

We won’t even get into the agent square footage discrepancy as we have absolutely no idea about the property, we’re assuming some remodeling done without permit, and/or tax records are not updated. Who knows. As for the home not selling for $950,000…over-priced. Important to remember, regardless of where properties are priced, the market will always make the comp. Even if the home was listed at $599,000 and it sold for $775,000, the market would set that price. Sounds like a fair price for that home. The price could also have been set by the seller. We really don’t know, unless the agent cares to share some knowledge.  Or our readers and Stammtisch care to chime in.

Reduced [theFrontSteps]

463 Nevada St [MLS]