Tag Archives: Maximum Overbid Of The Week

overbidnevada

From 32% In NOPA To 65% On Nevada – San Francisco’s Top 10 Overbids

It’s Friday, that means it’s time for the Top 10 Maximum Overbids of the week. As usual, there are some doozies, but nothing I would consider ultimate shockers like a few of the last weekly Top 10′s we’ve seen. The number one spot goes to the “Contractor’s Special” on Nevada in Bernal Heights that fetched 65% over (totally in line with market sales price, and not easy to price this type of property). The number 10 spot goes to my clients that finally won after so many years searching – 538 Baker in NOPA that was “only” 32% over asking and the winner out of 15 other offers, two of which were actually higher than ours and all cash. We had a loan. But we “won”.

Anyhow, on with the show. The Top 10 Overbids for San Francisco this past week:

Address BR/BA/Units DOM List Price Sold Price Overbid
270 Nevada St 1/1.00/N/A 14 $530,000 $876,000 65.28%
866 Cayuga Ave 4/3.00/N/A 20 $928,000 $1,380,000 48.71%
27 Day St 3/1.00/N/A 43 $895,000 $1,310,000 46.37%
1271 15th Ave 1273 4/3.50/ 13 $1,795,000 $2,550,000 42.06%
307 Parker Ave 3/2.00/N/A 13 $1,250,000 $1,710,000 36.80%
25 Miraloma Dr 3/2.00/N/A 10 $1,050,000 $1,420,000 35.24%
1150 Holloway Ave 2/1.00/N/A 35 $889,000 $1,200,000 34.98%
320 Castenada Ave 3/1.50/N/A 26 $1,695,000 $2,250,000 32.74%
471 Hickory St 2/1.00/N/A 5 $1,060,000 $1,400,000 32.08%
538 Baker 2/1.50/N/A 11 $948,000 $1,250,000 31.86%

On a side note, one of my listings will hopefully be closing today, and believe me when I say we knocked it out of the park. Will we make the Top 10? No, but maybe we’ll scratch into the Top 20.

If you’re curious what your property might sell for, give me a shout.

Have a great weekend!

-Top 20 Overbids Delivered to Your Door (Inbox) [sfnewsletter.com]
-Are Overbids A Result Of Intentional Underpricing? It’s Competitive Pricing [theFrontSteps]
-Top 20 Underbids [sfnewsletter.com]

Hows About $415,000 More Than You Were Asking? Will That Be Enough?

Just when you think you’ve seen it all, along comes a property on Clayton Street in the Haight Ashbury district (might as well call it Cole Valley too) that drops the jaw just a little bit more.

For all practical purposes, this property was really nice. It had a wonderful upper two level unit with views, deck, hot tub, and charm. It had a great lower level unit that could easily fetch $5500 in rent, or be annexed to the upper unit as a large single family (if memory serves me correctly), and it had a nice little cottage in the rear of the property that I didn’t even see, but was rented for I think $1750/month. It had all the charm, all the parking, all the amenities, and all the trappings of a great Cole Valley – Haight property, including rental income.

My clients and I decided to throw our name into the hat at their asking price of $1,650,000, knowing it was a long shot, but worth a try. We were one of 12 offers, not even in the top nine, and low and behold 777-779 Clayton closed escrow last week for a staggering $2,065,0000, or $415,000 over asking price! Happy Holidays To That Seller (Flash Gordon…no joke)!!!

We can debate the fair market value, whether it was under priced, and all that another day. For now, I ask any of you to show me a market in the world (Not Silicon Valley, not Marin, not Berkeley) where 12 buyers show up for one property, at least 9 of them offer more than the seller is asking, and the “winner” ultimately gives the seller $415,000 more than what was suggested as a fair price to purchase the property.

Perhaps it’s time to bring back the Maximum Overbid Of the Week, and consider switching from a listing service to an auction service for selling San Francisco real estate?

-777-779 Clayton details [MLS]
-More Cole Valley Stories [theFrontSteps]
-More Haight Ashbury Stories [theFrontSteps]