[Editor’s Note: As part of my commitment to San Francisco and the greater good of all residents in this wonderful city, I have teamed up with some USF Journalism students to allow them to get their feet wet with writing/blogging/marketing on a larger scale. This is the first post of hopefully many, and I thank Kianna Fernandez (USF Student/ tFS Intern) for her time, her efforts, and her excellent first effort with this piece on theFrontSteps.]
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
|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%|
|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!
In this week’s list of top 10 underbids, we have 5 multi-unit properties, 3 single family homes, and only 2 condos (SOMA and Noe Valley). Coming in at #1 is this NOPA multi-unit building, which just closed 15.69% under it’s most recent asking price of $975,000, at $822,000. Hang on…it gets better.
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:
|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%|
There is always a lot of talk around town about how “easy” it is to sell a property in San Francisco, and that all we (Realtors) have to do is sign up a listing, put a sign out front, and the hordes of buyers will come marching through the door, offer oodles over asking, beg to buy the property, offer up their children as security deposit, and seller sells it for a mint.
Not so, and to prove you need us (particularly theFrontSteps) to market your property for sale in San Francisco, I’d like to share some “before & after” shots of recent property transformations.
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!
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.
|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%|
|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.
Closed on the last day of 2015 was this 3 bedroom Russian Hill condominium with dramatic views. Listed for just shy of $3.2M and sold 18% under asking, at $2.6M, it takes top spot on the top 10 Podium Underbids of the week for San Francisco.
Interesting to note is that out of the top 10 underbids that closed in the past two weeks, 7 of them are condos and 3 of them are single-family homes (That’s R.E. 101 in college…supply/demand).
And here are the rest.
Happy New Year everyone!
|Address||BR/BA/Units||List Price||Sold Price||Underbid|
|1070 Green Street #1402||3/2.5/1||$3,195,000||$2,600,000||-18.62 %|
|151 Everglade Drive||3/3/2||$1,599,000||$1,400,000||-12.45 %|
|68 Landers Street||2/2/1||$1,499,000||$1,315,000||-12.27 %|
|400 Beale Street #1407||2/2/1||$1,150,000||$1,053,000||-8.43 %|
|3315 Pierce Street||3/3.5/3||$2,699,000||$2,500,000||-7.37 %|
|33 Perine Place||2/2/1||$1,500,000||$1,400,000||-6.67 %|
|425 28th Street||3/2/1||$1,695,000||$1,588,888||-6.26 %|
|355 1st Street||2/2/1||$1,595,000||$1,500,000||-5.96 %|
|739 48th Avenue||3/2/1||$995,000||$945,000||-5.03 %|
|1760 Ofarrell Street San Francisco, CA 94115||2/2/1||$879,000||$835,000||-5.01 %|