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%
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]

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]

1447-1449 Guerrero Sells $705,000 Over, But There Is More…

I’m going to make you cry…and then I’m going to make you cry more. Here’s how:

Last sold in 2007 for $995,000, 1477-1479 Guerrero just clinched this week’s top spot on the list of insane overbids coming in a meager $705,000 above the $995,000 asking price (note…same asking price as selling price in 2007) and closing for a cool $1,700,000. It might even come with this guy:

guerrero

If that doesn’t make you cry, or at least make your head spin, this will. According to MLS, this property was marketed only two years ago in June of 2013 at $1,295,000 with the EXACT same marketing spiel (including proximity to tech shuttles), same great photos, same great tenants, but it didn’t sell and was pulled off the market a short time later. Fast forward two years, add $500,000 and it’s sold! The Maximum Overbid of The Week.

As for the top 10, here you go:

Address BR/BA/Units DOM List Price Sold Price Overbid
1477 Guerrero Street 1479 2-4 Units 8 $995,000 $1,700,000 70.85%
734 39th Avenue 4/2.00/N/A 12 $1,049,000 $1,550,000 47.76%
139 San Leandro Way 4/2.50/N/A 9 $1,895,000 $2,635,000 39.05%
4301 Cesar Chavez Street 3/2.00/N/A 2 $1,795,000 $2,380,000 32.59%
1919 Jennings Street 2/1.00/N/A 22 $495,000 $655,000 32.32%
935 Avalon Avenue 2/1.00/N/A 26 $669,000 $870,000 30.04%
3519 Lawton Street 3/2.00/N/A 14 $925,000 $1,200,000 29.73%
1726 48th Avenue 4/3.00/N/A 12 $829,000 $1,050,000 26.66%
4010 San Bruno Avenue 3/1.50/N/A 15 $699,000 $880,000 25.89%
1001 Portola Drive 3/2.00/N/A 27 $995,000 $1,250,000 25.63%

Keep in mind these properties got into contract on average 30 days ago. There might be a little shift in the market happening, but we’ll have to wait a bit to see. A note to you buyers…if a property is on the market, has an offer date, doesn’t get offers, then reduces their price, and your agent advises you to come in OVER asking (often times over the original list price), find out what they’re smoking, because I want some.

Have a great weekend!

Image Source: SocketSite.com

Maximum Overbid Of The Week | “Corpse House” Wins | HazMat Suit Sold Separately

It’s the house that had not only a hoarder, but a mummified corpse father of said hoarder that takes top honors this week. Originally listed for $928,000, 152 4th Ave buyers jumped at this house, put it in contract for $1,029,500, and sent it to court for overbids. With the hoarding daughter hospitalized and hopefully getting help, 152 4th Ave now has new owners and a final sales price —$1,560,000—HazMat suit sold separately.

Address BR/BA/Units DOM List Price Sold Price Overbid
152 4th Avenue 2/2.00/N/A 38 $1,029,500 $1,560,000 51.53%
175 Boutwell Street 1/1.00/N/A 14 $399,000 $561,000 40.60%
1440 15th Avenue 4/2.00/N/A 18 $998,000 $1,350,000 35.27%
648 Felton 4/1.00/N/A 14 $749,000 $1,008,000 34.58%
160 Boutwell Street 1/1.00/N/A 15 $399,950 $535,000 33.77%
37 Miguel Street 2/1.00/2 13 $899,000 $1,200,000 33.48%
3974 18th Street 2/1.50/ 13 $1,249,000 $1,650,000 32.11%
25 Sierra Street 3/2.50/505 12 $1,299,000 $1,701,078 30.95%
178 Holladay Avenue 2/2.00/N/A 12 $995,000 $1,300,000 30.65%
119 Madrid Street 3/2.50/N/A 18 $799,000 $1,038,000 29.91%

In case you track these, we changed the feed and it now pulls weekly top 10, rather than past two weeks. So check back every Friday.

Have a great weekend!

152 4th Ave, San Francisco [Property Detail Page]
New Listings, Recent Sales, Top 20 Overbids, Top 20 Underbids, Stalefish [the Goods]
Corpse Found Inside Hoarder’s Home [SocketSite]
Creepy Lake District “Mummy House” Returns for $928k [Curbed]
1793 Sanchez St, For Sale, Glen Park [theFrontSteps]

3621 Washington

Maximum Overbid Of The Week | Good Lord!

4thaveTouting some of the “best amenities, weather, and transit in the city” (I’ll let you all debate the Richmond District’s claim to that), 607-609 4th Ave just closed a mere $605,000 over list price, and earned this week’s title of Maximum Overbid. Congrats.

The best part…it comes with a “low maintenance” yard. For all of you readers that don’t speak Realtor that means the yard is either concrete, brick (in this case), or some other form of hard surface that doesn’t require water, and would be great for roller blading (does anybody even still do that), skateboarding, or chucking Hot Wheels and Toy Monster Trucks around to see if they’ll break.

Now, we do our Overbids based off of percentage above asking. If you really want to scratch your head, have a look at 3621 Washington that just closed $2,505,000 over list. By all accounts, that’s a great home, as is 4th Ave, or any place in San Francisco for that matter, but that doesn’t make it any less shocking that we still live in a city where millions over asking is common. Nuts.

Anyhow…the best of the rest, the Top 10 Overbids:

Address BR/BA/Units DOM List Price Sold Price Overbid
607 4th Avenue 609 2-4 Units 28 $995,000 $1,600,000 60.80%
1607 16th Avenue 2/1.00/N/A 13 $899,000 $1,400,380 55.77%
394 Laidley Street 2/2.00/N/A 4 $949,000 $1,450,000 52.79%
3621 Washington Street 4/5.00/N/A 21 $4,995,000 $7,500,000 50.15%
2142 25th Avenue 2/1.50/N/A 11 $799,000 $1,189,000 48.81%
2542 44th Avenue 3/2.00/N/A 6 $795,000 $1,150,000 44.65%
106 Bennington Street 3/2.00/N/A 10 $950,000 $1,350,000 42.11%
503 Capitol Avenue 3/1.00/N/A 8 $499,900 $710,000 42.03%
60 College Avenue 3/1.00/N/A 18 $640,000 $875,000 36.72%
129 Dellbrook Avenue 2/1.00/N/A 6 $899,000 $1,225,000 36.26%

Have a great weekend!

Factoring Weather When Buying A Home In San Francisco Is Anything But Simple [theFrontSteps]
Realtor Speak [theFrontSteps]

Maximum Overbid Of The Week| 80% Over Off Lake

21827thWhat more can you say…the marketing remarks for 218 27th Ave say it all, “Contractors Special with Bay View from front steps. 25X120 lot; occupancy classification R3 per 3R Report; Zoning District per 3R Report RM1; This is an AS IS sale. Bring your contractors and hard hats. Laundry and 3rd bedroom is not warranted.” Listed $895,000 sold for $1,612,000 or 80% over asking. Not bad. Not bad at all.

Address BR/BA/Units DOM List Price Sold Price Overbid
218 27th Avenue 3/1.00/N/A 12 $895,000 $1,612,000 80.11%
676 Capp Street 3/1.50/N/A 12 $1,300,000 $2,300,000 76.92%
27 Cutler Avenue 3/1.00/N/A 20 $569,000 $880,000 54.66%
1400 35th Avenue 1402 2-4 Units 14 $799,000 $1,220,000 52.69%
2219 25th Avenue 2/1.00/N/A 13 $949,000 $1,380,000 45.42%
850 35th Avenue 2/1.50/N/A 38 $950,000 $1,380,000 45.26%
2080 14th Avenue 3/1.00/N/A 13 $899,000 $1,302,080 44.84%
12 Carson Street 3/2.00/N/A 10 $1,649,000 $2,260,000 37.05%
51 Somerset Street 3/1.00/N/A 10 $849,000 $1,160,000 36.63%
136 Bradford Street 4/2.00/N/A 43 $899,000 $1,225,000 36.26%

I share this information so you, the buyer and seller, can get used to the idea that San Francisco real estate is not normal. I also share it for myself and my colleagues to support our claim when we go on listing presentations that there is no such thing as “you priced it too low”. You cannot price too low in San Francisco. You can definitely price too high though.

04-alex-clark-portrait-citybg-2x3If you’re thinking about selling, give me a shout.
Alexander Clark
Paragon Real Estate Group
415-254-5351
alexclark@gmail.com
sfnewsletter.com will be published today around 12pm with updated top 20 Overbids, top 20 Underbids, Stalefish, New Listings, and Recent Sales. You still have time to sign up.

topoverbid

Fixers Take The Cake | San Francisco Top 10 Overbids

If you look at nothing else on these property lists I’ve posted below, have a look at the top 3 overbids…and my gallery of favorite photos.

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Top 10 Overbids of the week:

Address BR/BA/Units DOM List Price Sold Price Overbid
566 6th Avenue 568 2-4 Units 21 $895,000 $1,800,000 101.12%
11 Hiliritas Avenue 2/1.00/N/A 11 $899,000 $1,525,000 69.63%
701 Teresita Boulevard 2/1.00/N/A 20 $699,000 $1,152,000 64.81%
363 Valencia Street 1/2.00/4 7 $995,000 $1,575,000 58.29%
2400 Pacheco Street 2/1.25/N/A 17 $799,000 $1,200,000 50.19%
2070 16th Avenue 2/2.00/N/A 21 $995,000 $1,482,000 48.94%
1072 Noe Street 2/1.00/N/A 8 $1,898,000 $2,800,000 47.52%
578 Elizabeth Street 2/1.00/N/A 0 $1,495,000 $2,200,000 47.16%
331 Connecticut Street 2/1.00/N/A 15 $1,199,000 $1,750,000 45.95%
617 Capp Street 619 2-4 Units 17 $995,000 $1,450,000 45.73%



Notable Sales

Address BR/BA/Units DOM List Price Sold Price
1694 York Street 5/3.00/N/A 63 $1,450,000 $1,415,000
39 Boardman Place 1/1.50/304 18 $879,000 $938,000
1810 Green Street 3/3.50/ 45 $2,795,000 $3,400,000
322 Rutledge Street 3/2.50/N/A 34 $1,995,000 $2,000,000
2653 Post Street 2/1.00/ 30 $795,000 $925,000
1911 34th Avenue 2/1.00/N/A 11 $749,000 $750,000
425 1st Street 2/2.00/2702 90 $2,149,000 $2,050,000
16 Jessie Street 0/1.00/407 68 $625,000 $625,500
354 24th Avenue 4/3.00/1 32 $1,295,000 $1,481,321
2542 Sacramento Street 1/1.00/102 23 $679,000 $800,000


Have a great weekend. As always, I’m here to help you, and everyone you know, buy and sell San Francisco/Bay Area real estate. Just give me a shout.