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%
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Last Underbid of the year: Marina Home Wins

It’s the last Monday of 2015, everyone is out celebrating and the market is slow and quiet, but there are still properties closing every day, and some going significantly under asking.

The top 3 homes of the top 10 Underbid that closed in the last 2 weeks were sold more than 10% under asking (does that make any sense?) And the winner of our last underbid of the year goes to this wonderful 3 bedroom Marina District single-family home 59 Rico Way. Listed for $2,900,000 and sold for 2,550,000, 12% under asking.
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And here’s the rest. Happy holidays everyone!

Address BR/BA/Units List Price Sold Price Underbid
59 Rico Way 3/1.5/3 $2,900,000 $2,550,000 -12.07 %
233 Franconia Street 3/3.5/3 $1,795,000 $1,590,000 -11.42 %
1945 Washington Street #411 1/1/1 $739,000 $665,000 -10.01 %
2953 Broderick Street 2/2.5/2 $3,295,000 $3,000,000 -8.95 %
1200 California 1/1/1 $2,188,000 $2,000,000 -8.59 %
338 Spear Street 2/2/1 $2,998,000 $2,750,000 -8.27 %
1177 California Street 1/1/1 $965,000 $900,000 -6.74 %
1598 McAllister Street 5+ Units $3,000,000 $2,800,000 -6.67 %
646 Los Palmos Drive 5/3/3 $1,450,000 $1,360,000 -6.21 %
1 Hawthorne Street #22E 2/2/1 $1,650,000 $1,550,000 -6.06 %
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A Home For The Holidays | 776 WISCONSIN STREET

Temporarily off the market for the Holidays, but not off my radar or off of my Christmas list I sent to Santa, and now I’m giving you, or anyone you know, the opportunity to shatter my dreams of owning this home. How could you not want to do that!?

Direct from the marketing piece, and onto your radar. Contact me if you’re interested.

——-

ELEVATIONhaus

Understated Luxury with Million Dollar San Francisco Skyline and Bay Views

The oversized steel and glass entry door sets the tone for the finish level you will find throughout this modern masterpiece. Once into the entry hall, you will find a wall of quartz stone, soaring high ceilings and Dwell – inspired floating staircase, grounded by handcrafted steel railings. On this level, you will find a gracious well-appointed master suite with gorgeous spa- inspired bathroom and ample closet space, as well as two other bedrooms and full bath. Upstairs, you will be greeted with floor to ceiling windows that open up to breathtaking City skyline, bay and east facing views. The open span living, dining, and kitchen areas offer incredible light throughout the day and evening. A custom designed Studio Becker Kitchen awaits the gourmets and the streamlined design aficionado’s alike. Step out to the patio for alfresco dining, or walk up to the panoramic view roof deck, finished with AZEK decking.
Downstairs, you will find a spacious Media Lounge, complete with built-in bar, wine room, and another glass and stone tile finished full bathroom. A two car garage and laundry room complete this extensively renovated home that touts great vision, design, and attention to detail.
Located on Potrero Hill, the only neighborhood in the town that you could have your windows and doors open well into the evening, and you will, in this fabulous home that takes you worlds away from the hustle of the city, but close enough to have everything at your fingertips!

• 3 Bedrooms
• 3 Full Bathrooms and Powder Room
• Media Lounge with Built-in Bar
• 2 Car s/s Parking
• Panoramic View Roof Deck
• Multi- Zone Radiant Heat
• Mechanical Skylight / Sliding Door
• Two Fireplaces
• Spacious Multi-Level Landscaped Garden and Patio
• Video Intercom System
* Complete Audio System with Built-In Ceiling Speakers with Volume Control in Every Room
* Multi Zone Nest Heating Control

Technology

Nest Heating Control
Security Alarm System
2 Intercom and Video systems
Cat 6 Wiring throughout all rooms

Plumbing/Mechanical

Radiant heated floors throughout entire house with 8 zones of comfort
On demand heater for instant domestic hot water
70 Gallon hot water Storage Tank
High End Fixtures and polished chrome fittings throughout
Wall hung toilets by Geberit with dual-flush
Handheld and held showers in each bathroom
Rain Shower in Master Bathroom

Cabinetry and Woodwork

Studio Becker custom made European Kitchen
Custom wall hung cabinetry bar in Media Lounge
5 inch solid White Oak hardwood floors throughout with Dwell inspired floating staircase
Massive Wine Cellar with wall hung racks

Kitchen

Magnificent blizzard Cesar Stone island
36 Inch Bosch Integrated Fridge
36 Inch Miele Cooktop
36 inch Miele Hood
2 Bosch Dishwashers
Bosch Double Oven with Warming Drawer
Under cabinet 56 bottle Wine Cooler

Electrical / Lighting

New Line voltage electrical throughout
Cat 6 cabling throughout all three levels of the home
Lutron Dimmers in all living areas
Environmentally friendly LED lighting
Mooie light fixtures

Structural

Concrete and steel retaining wall
3 Steel Moment Frames
1 3/4″ x 12 LVL Floor Joists
Multiple Structural Beams

Additional Features

Laundry Room
Separate side entrance to rear yard and decks
Huge Garage for 2 car side by side parking and additional parking for small car in driveway
Storage provided under entry stairs for bikes or maintenance use
Outdoor entertainment Patio and Garden with BBQ gas to rear deck
Glass walled Wine Cave
Wonderful city block with easy parking and close transit access

Architect: Jonathan Pearlman of Elevation Architects
Listed by Suzanne Gregg, Paragon Real Estate Group

Dropping In

Maximum Overbid Of The Week | Embrace The Chaos

This home on 43rd Ave just sold $331,000 over asking, and takes this week’s top spot on the top 10 San Francisco Overbids. But let’s look deeper into what’s going on here.

You might be wondering why I chose the amazing picture of pro surfer Damien Hobgood getting burned by some random guy as this week’s featured image to go with the continually insane overbids San Francisco dishes out. Well…it’s significant in many respects (in my mind anyway, so hear me out).

1. Not only does Ocean Beach occasionally get world class surf (word is out, sorry), but it brings the pain, as does our market to many, many, many buyers continually burned by that other buyer that dropped in on them and “stole” their home. And just like waves, there will always be another home come your way, so bite your lip, regroup, focus, don’t get upset, and get the next one.

2. The Avenues are the hottest part of town right now to be selling a Single Family Home, as it is the last frontier where such a home is still attainable under $1.1M (check the stats). You can find these homes in the Outer Sunset, Outer Parkside, and if you’re lucky, the Outer Richmond districts. Miraloma Park is a hidden gem of bargain homes too, but no beach. For you out of towners, Ocean Beach is where San Francisco officially ends, and Pacific Ocean begins (the “Bay” is not). This is our “beach” neighborhood, which at some point will go back to normal programming of fog for months on end, howling onshore winds, and no hipsters cruising on their penny boards to check the surf, because it will be too damn cold and the bikinis will be all covered up.

3.Who still prices a home like this, in a location like that, at $699,000? Seriously John. Seriously.

4. This sale is $331,000 over the asking price, but really, it was underpriced by at least $100,000, so let’s hope all the marketing that goes out around it doesn’t say “I got my clients $331,000 more than they expected!” We all know it was expected to go over, and I guarantee if they only got one offer at $699,000 they never would have sold it. At 1200 square feet, or $807/psft, some might even argue it is a steal.

5. The photo caption on the Surfing Magazine article sums it up best with what people THINK is happening in San Francisco real estate, “A quick reminder that the surfer closest to the peak of the wave, or in the barrel, has the right of way. Damien Hobgood and some tech nerd“. Don’t get me wrong, that’s a great caption and it’s definitely evident in the water, but it’s not just the techies with all the cash. I’ve been telling my clients and readers this for years. There is an insane amount of money from all walks of life in this city and greater Bay Area. It’s easy to point the finger at one group and make assumptions, but I guarantee you, your assumptions about the techies and our real estate market are wrong.

And before you go blaming the techies for your lack of wave domination, or missing out on your dream home, reconsider that GoPro strapped to your board, the Uber you just took to work, that baby picture you just HAD to share on Instagram, and all the other tech channels you can’t live without whether you’ve been living here 40 years, or 4. The city is a changing. Embrace the Chaos.

[Song: Pa Lante by Ozomatli; Album: Embrace the Chaos…turn it up!]

With all of that said, the Top 10:

Address BR/BA/Units DOM List Price Sold Price Overbid
2471 43rd Avenue 2/1.00/N/A 19 $699,000 $1,030,000 47.35%
1650 Florida Street 3/1.00/ 42 $695,000 $970,000 39.57%
1099 23rd Street 1/1.50/1 20 $599,000 $801,000 33.72%
136 Seville Street 2/1.00/N/A 33 $699,000 $890,000 27.32%
2769 Union Street 3/2.00/ 13 $2,499,000 $3,130,000 25.25%
4500 California Street 2/2.00/ 38 $980,000 $1,210,000 23.47%
164 Parker Avenue 2/1.00/B 31 $995,000 $1,210,000 21.61%
681 Panorama Drive 3/2.00/N/A 28 $999,000 $1,204,000 20.52%
204 Anderson Street 2/2.00/N/A 13 $1,189,000 $1,425,500 19.89%
2270 9th Avenue 4/3.50/N/A 8 $1,795,000 $2,150,000 19.78%

Have a great weekend! Looking to buy or sell Bay Area Real Estate? Look no further, and give me a shout.

Image Source for Surfers [Surfing Magazine]

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In San Francisco $1,810,000 Buys You This

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:

Address BR/BA/Units DOM List Price Sold Price Overbid
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%
14 Hearst 2/1.00/N/A 12 $899,000 $1,175,000 30.70%
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.

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Mission To Millennium | SF’s Top 10 Underbids of the Week

The top underbid of the week goes to an Outer Mission single family home that (dare we say) needs a bit of work. Listed for $699,000 and sold for $575,000 after 62 days on the market. According to our data from last week, single family homes continue to take up the majority of the top 10 underbid slots: 50% single family homes, 30% multi-units, and 20% condo.

As we get into the winter months, we are seeing luxury homes cooling down but affordable homes remaining competitive. One other notable Underbid is this wonderful Millennium Tower residence with million dollar water and landmark views on both sides of the Bay. Listed at $4.588M and sold for $4.18M after 122 days. Still a win, IMO.

As for the rest, here you go:

Address BR/BA/Units List Price Sold Price Underbid
2220 Cayuga Avenue 1/1/1 $699,000 $575,000 -17.74 %
161-165 Cook Street 2-4 Units $2,395,000 $2,150,000 -10.23 %
2287 16th Avenue 4/2/2 $1,388,000 $1,250,000 -9.94 %
18 Kronquist Court 4/2/1 $1,899,000 $1,725,000 -9.16 %
301 Mission Street #49D 2/3/2 $4,588,000 $4,180,000 -8.89 %
78 Gladys Street 3/2/0 $1,195,000 $1,100,000 -7.95 %
1437 47th Avenue 1437A 2-4 Units $1,275,000 $1,175,000 -7.84 %
2829 Pierce Street 2831 2-4 Units $2,970,000 $2,750,000 -7.41 %
3260 Baker Street 3/2/2 $2,999,000 $2,800,000 -6.64 %
2040 Franklin Street #506 0/1/1 $575,000 $540,000 -6.09 %

As is always the case, if you have any questions about the market, your home, homes in your area, or real estate referrals around the world, I am here to help. Just give me a shout by choosing any of the “contact” options all over this site.

rolphdiningroom

#2 Maximum Overbid Of The Week, Because The #1 Is Too Common

I’m going to go ahead and skip the #1 at 38 Yukon, because it’s…well…just another $1200 per square foot sale of a small condo in a hot neighborhood. Instead, have a look at the #2 spot, which goes to 35 Rolph in Crocker Amazon:

A 1350 square foot, two bed, one bath home in the part of town where priced out buyers have been going for years. Why I like this house? Because it has not been chopped up, has a ton of original detailing, has amazing expansion and upgrade potential, and frankly was snagged for a great price. The fact that is was a major overbid (41.76% over to be exact) does not mean the buyer overpaid, it means the agent underpriced (as is usually the case). Regardless, there was certainly competition to get it, so Kudos to the buyers. You got a great house!

Which one of you neighbors will be next to cash in..?

As for the rest, here you go:

The Top 10 Overbids In San Francisco:

Address BR/BA/Units DOM List Price Sold Price Overbid
38 Yukon Street 2/1.00/ 19 $949,000 $1,350,000 42.26%
35 Rolph Street 2/1.00/N/A 15 $649,000 $920,000 41.76%
1472 18th Avenue 2/2.50/ 42 $899,000 $1,225,000 36.26%
2055 35th Avenue 3/2.00/N/A 11 $895,000 $1,200,000 34.08%
1751 45th Avenue 3/2.00/N/A 26 $899,000 $1,200,000 33.48%
1470 18th Avenue 2/2.50/ 42 $959,000 $1,275,000 32.95%
48 Sanchez Street 3/1.50/ 14 $1,295,000 $1,651,000 27.49%
33 Vandewater Street 1/1.00/104 12 $599,000 $760,000 26.88%
242 San Jose Avenue 4/2.50/N/A 10 $2,995,000 $3,800,000 26.88%
509 Central Avenue 2/1.00/ 8 $975,000 $1,225,000 25.64%

Have a great weekend! Check back next week for more, Monday for the Underbids, and stop by my mid century single family home in Golden Gate Heights at 1972 11th Ave, which will be open Sunday from 1-4pm. Check out 1177 California #304, which is still available too.

Curious about the most recent sales in San Francisco citywide? Curiosity satisfied.

Gorgeous Ocean Views

Maximum Overbid Of the Week | Avenues Getting In the Game

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.

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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.

Address BR/BA/Units DOM List Price Sold Price Overbid
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).