227547thave

Maximum Overbid Of The Week | Outer Parkside

It had to be the lion blanket, because apparently the original $1,099,000 list price wasn’t enough to entice the frenzy. So what happened? Price reduced to $995,000, and look at that…sold for $1,225,000. In case you missed that, that’s higher than the previous list price two short months prior, at which this home was unable to find a buyer. Some things in life simply make no sense.

Anyhow, here are the Top 10 Overbids for the past week in San Francisco

Address BR/BA/Units DOM List Price Sold Price Overbid
2275 47th Avenue 4/2.50/N/A 88 $995,000 $1,225,000 23.12%
1655 48th Avenue 2/1.00/N/A 14 $629,000 $762,000 21.14%
471 23rd Avenue 2/1.00/6 33 $688,000 $810,000 17.73%
988 Fulton Street 1/1.00/326 60 $474,000 $555,000 17.09%
1055 Mason Street N/A/N/A/19 18 $5,000,000 $5,800,000 16.00%
149 Laidley 3/2.00/N/A 25 $1,695,000 $1,950,000 15.04%
2908 Fulton Street 2914 2-4 Units 49 $1,290,000 $1,473,000 14.19%
448 Gold Mine Drive 4/3.00/N/A 12 $1,395,000 $1,558,000 11.68%
2130 12th Avenue 2/2.00/N/A 52 $899,000 $1,000,000 11.23%
30 Otsego Avenue 3/2.00/N/A 13 $1,199,000 $1,300,000 8.42%

Have a great weekend!

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%
Screen Shot 2016-01-18 at 12.44.47 PM

Underbids All Over The Map | San Francisco

Did you miss the Top 10 Overbids last week? Don’t worry, SFGate has em posted, but since it’s Monday (well it was yesterday), we like to bring you the weekly top 10 Underbids. Sounds like SFGate might recap them there too, so keep your eyes peeled.

The top dogs are a variety this time around. Locations are spread out – Western Addition, Bayview, Nob hill, Telegraph Hill, Marina, Pacific Heights, Inner Mission, Cow Hollow, and Noe Valley. Sizes range from a 232 square foot micro studio condo, which sold for $390,000 (don’t get too excited, that’s nearly $1700/sqft), to a 5590 square foot 5 bedroom mansion, which sold for only $1500/sqft (don’t get too excited here either, that’s $8.4M). There’s even a commercial unit in the mix, that fetched “only” $430/sqft (we ain’t talking apples to apples to the above.)

Just goes to show, in real estate, particularly in San Francisco it’s all about location, location, location…and pricing, marketing, presentation, and timing.

Regardless, have a great work week. Enjoy the top 10, stay dry, and pray for more rain/snow.

Address BR/BA/Units List Price Sold Price Underbid
1406 Golden Gate Avenue 3/2/0 $1,399,000 $1,200,000 -14.22 %
1311-1313 Palou 2-4 Units $995,000 $875,000 -12.06 %
1300 Pacific Avenue 0/2/0 $468,000 $425,000 -9.19 %
412 Green Street #A 0/1/0 $425,000 $390,000 -8.24 %
3315 Pierce Street 3/3.5/3 $2,699,000 $2,500,000 -7.37 %
2470 Broadway 5/4.5/2 $6,995,000 $6,500,000 -7.08 %
1326 Utah Street 2-4 Units $1,289,000 $1,200,000 -6.90 %
33 Perine Place 2/2/1 $1,500,000 $1,400,000 -6.67 %
2828 Divisadero Street 5/5.5/2 $8,995,000 $8,400,000 -6.61 %
425 28th Street 3/2/1 $1,695,000 $1,588,888 -6.26 %

theFrontSteps Overbids on SFGate [SF Gate, San Francisco Chronicle Online]

171 Bright

Maximum Overbid: Severely Damaged, No Electricity, Not Habitable, But Still Top Dog

You gotta love a market (as a seller) where an agent can use the most eloquent of beautifully descriptive words to sell such a wonderful property, in such immaculate condition and still easily (likely with stacks of offers) get a property sold.

From the marketing:

A complete TEAR-DOWN! Beyond the external frame, this home is severely damaged/charred/burned from a fire last May 2014. No electricity so access is limited to morning hours only. All potential buyers to sign a Hold Harmless Agreement prior to access. Probate sale, no court, no death in prop w/in last 3 years. NOT in habitable condition, this is more than a fixer, it’s a complete tear-down!

171 Bright
171 Bright

Listed for $299,000 (that had to be a record in and of itself), this wonderful Ingleside Heights Home just closed for $485,000.

Hey! Look on the bright side…nobody died in the property…at least “within the last 3 years”, and maybe, just maybe, the city will actually let you tear the whole thing down and start fresh.

As for the rest of the top 10 Overbids, here you go.

Address BR/BA/Units DOM List Price Sold Price Overbid
171 Bright Street 0/1.00/N/A 16 $299,000 $485,000 62.21%
1139 Green Street 1139 2-4 Units 12 $1,299,800 $1,710,000 31.56%
1161 York Street 1163 2-4 Units 27 $1,200,000 $1,560,000 30.00%
1819 26th Avenue 2/1.00/N/A 42 $775,000 $1,000,000 29.03%
39 Bradford Street 2/1.00/N/A 29 $998,000 $1,250,000 25.25%
1455 Oakdale 5/3.00/N/A 47 $759,000 $935,000 23.19%
721 Delano Avenue 1/1.00/N/A 28 $569,000 $700,000 23.02%
111 Harold Avenue 2/1.00/N/A 80 $599,000 $720,000 20.20%
526 34th Avenue 528 2-4 Units 41 $1,920,000 $2,240,000 16.67%
427 Parker Avenue 429 2-4 Units 58 $2,200,000 $2,550,000 15.91%

Happy Friday, and welcome to the new look of my new site. Still a bit of dust and debris laying around, but for the most part, we’re open for business.

vale

Top 10 Overbids Of The Week | San Francisco

Certainly something to discuss during your next break at the cooler for some Egg Nog, or at tonight’s Holiday Party flush with some good Red Wine, or perhaps while surfing the great waves El Nino has been sending our way, or in my case, on the ski lift. However you decide to take this data and run… run boy (and girl) run!

Address BR/BA/Units DOM List Price Sold Price Overbid
130 Vale Avenue 3/1.50/N/A 12 $795,000 $1,110,000 39.62%
1783 Newcomb Avenue 2/1.00/N/A 26 $499,000 $680,000 36.27%
1324 20th Street 2/1.00/N/A 19 $995,000 $1,317,500 32.41%
4021 Mission Street 2/1.00/N/A 14 $799,000 $1,052,000 31.66%
2771 38th Avenue 3/2.00/N/A 32 $895,000 $1,175,000 31.28%
41 Collingwood Street 3/1.00/ 48 $995,000 $1,300,000 30.65%
1440 La Playa Street 3/2.00/N/A 24 $998,000 $1,303,000 30.56%
344 Moncada Way 2/1.00/N/A 15 $1,095,000 $1,415,000 29.22%
2828 Polk Street 2/2.00/ 26 $1,295,000 $1,650,000 27.41%
43 Collingwood 2/1.00/ 14 $949,000 $1,175,000 23.81%

For a deeper look into our market, and to track sales in your neighborhood, check out The Goods, and sign up for sfnewsletter.

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]

14thst

Top Floor Teaser Sells $502,000 Over List | Mission Dolores | Maximum Overbid

Who prices a top floor Mission Dolores 2 bed, 2.5 bath, 1328 square foot condo WITH PARKING, and roof deck, in the epicenter of hip at $998,000 anyway! Everyone knows the going rate is at least $1000 per square foot. Teaser price. Teaser.

14thkit

Anyhow, this week’s top spot on the list of jaw dropping Overbids goes to 425 14th Street #4. A sweet condo in a hot location with everything you need to live the San Francisco dream.

Address BR/BA/Units DOM List Price Sold Price Overbid
425 14th Street 2/2.50/4 13 $998,000 $1,500,000 50.30%
1534 44th Avenue 3/2.50/N/A 14 $899,000 $1,280,000 42.38%
1351 10th Avenue 3/2.00/N/A 16 $1,189,000 $1,665,000 40.03%
472 12th Avenue 2/1.00/ 22 $899,000 $1,250,000 39.04%
1459 31st Avenue 4/2.00/N/A 21 $995,000 $1,290,000 29.65%
724 Masonic Avenue 2/1.00/ 13 $997,000 $1,280,000 28.39%
2514 40th Avenue 3/2.00/N/A 12 $799,000 $1,020,000 27.66%
15 Scotia Avenue 3/2.00/N/A 11 $688,000 $868,000 26.16%
1497 Palou Avenue 4/3.00/N/A 39 $719,000 $905,000 25.87%
333 Dellbrook Avenue 2/1.00/N/A 13 $925,000 $1,150,000 24.32%

To the listing agents, who I know very well, thank you for understanding all of what I say is all in good fun. You did what you had to do, and you got the job done. :-)

Have a great weekend!

More Real Estate Porn [The Goods]

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.

172327thave
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).

18prospect

Maximum Overbid Of The Week | Kitchen & Bathroom Cost Extra In Bernal Heights

With so many great pictures from which to choose, how do you pick just one? You don’t. You must see to believe… 18 Prospect, a 3 bed, 1 bath, single family in Bernal Heights takes this week’s Overbid cake giving new meaning to the term “development opportunity”.

Listed at $829,000 and SOLD for $1,250,000 (cash of course), it should come as no surprise it gets top Overbid honors. How do you price the ultimate fixer? You price it low, and let it go. Whether it comes with a kitchen and bath, or not, is up for debate. Looks like neighbor building is next.

Address BR/BA/Units DOM List Price Sold Price Overbid
18 Prospect Avenue 3/1.00/N/A 11 $829,000 $1,250,000 50.78%
185 Stonecrest Drive 3/2.00/N/A 13 $998,000 $1,388,000 39.08%
1771 39th Avenue 3/2.00/N/A 27 $849,000 $1,170,000 37.81%
627 46th Avenue 2/1.00/N/A 13 $799,000 $1,061,000 32.79%
1355 Holloway Avenue 2/2.00/N/A 14 $988,888 $1,308,500 32.32%
4130 21st Street 2/1.50/N/A 12 $1,298,000 $1,710,000 31.74%
2750 Harrison 3/2.00/top 8 $1,050,000 $1,380,000 31.43%
2829 California Street 2/2.00/4C 15 $1,899,000 $2,455,000 29.28%
336 Jules Avenue 2/2.00/N/A 16 $798,000 $1,030,000 29.07%
320 Alabama Street 2/2.00/15 11 $1,048,000 $1,350,000 28.82%

It’s important to note, these properties had largely gone into contract a few weeks (or more) ago…there is potentially a shift in the tide happening at the moment. We are seeing more properties set offer dates and not receive any. Price reductions are starting to happen, and the behind the scenes pleading from my colleagues to “bring your buyers, motivated sellers” are increasing. Could we have reached the peak? Time will tell. For now, there are still far too many buyers for the limited amount of property available, so any change ain’t happening overnight, but it might be happening.

Stay tuned…

San Francisco New Listings, Recent Sales, Overbids, Underbids and more [theGoods]

59cumberland

The Money Is In The Attic | Maximum Overbid Of the Week

It’s a 2* unit property on Cumberland in the oh-so hip Mission Dolores neighborhood of San Francisco that takes this week’s Maximum Overbid cake at a cool $1,153,367 over list price.
cumberlandrear
It’s a sweet, sweet, big property in a great location, so I say hat’s off to the lucky buyers.

As for the rest of the pack…here you go. The weekly top 10.

Address BR/BA/Units DOM List Price Sold Price Overbid
59 Cumberland Street 61 2-4 Units 18 $2,295,000 $3,448,367 50.26%
3775 16th Street 4/2.00/N/A 16 $1,399,000 $2,000,000 42.96%
607 Shotwell Street 1/1.00/ 7 $499,000 $701,000 40.48%
3235 Gough Street 2/2.00/104 7 $995,000 $1,360,000 36.68%
4049 19th Avenue 5/3.00/N/A 37 $799,900 $1,090,000 36.27%
1530 12th Avenue 3/2.00/N/A 13 $1,295,000 $1,750,000 35.14%
507 Silver Avenue 2/2.50/N/A 31 $699,000 $941,000 34.62%
478 Hoffman Avenue 3/1.50/N/A 15 $1,795,000 $2,400,000 33.70%
2071 18th Avenue 3/2.00/N/A 16 $995,000 $1,328,000 33.47%
240 Winfield Street 2/1.00/N/A 7 $845,000 $1,120,000 32.54%

That’s all fine and good, but what about the Underbids? Because you can actually get things for UNDER asking in San Francisco. You just have to be really, really lucky.

Check back next week for more market madness, two new listings I have coming up (Nob Hill, Golden Gate Heights), and if I find more time, some real good ol’ fashioned blogging.

Have a great weekend!

The Goods (Recent Sales, New Listings, Overbids, Underbids, and More) [Alexander Clark]