To say we knocked it out of the park on this sale would be an understatement. Transaction details below:
As much as I love doing a stellar job for the sellers I represent, it honestly pains me when we set a new high water mark for San Francisco real estate sales, because it makes it that much harder for the next buyers out there trying to buy the next property that comes along.
Listed at $589,000, we received 8 offers, 3 of which were over $800,000, and we just closed yesterday for $815,000. That’s $226,000 over asking for a condo in the Outer Sunset. Put another way, 38.37% over list price. When we had received an offer at $750,000, we thought that was going to be the best. Alas, it was not. We could have actually sold this property an hour after it hit MLS, but we declined the offer, and I pushed for an offer date. It paid dividends. The sellers are thrilled, as are the winning buyers, the the SF-Marin Food Bank will be getting a check from me shortly, and I got a bottle of Johnnie Walker Blue Label out of this deal. Suuuweet! Thanks John!
This fabulous top floor condominium in the oh-so popular Outer Sunset is one block from the Ocean, two blocks from Judah street shops/restaurants/N-Judah, and a few blocks from Golden Gate Park. This is an outdoor lover’s dream. The home features an open floor plan with living/dining area including a wood burning fireplace, partial views to the Ocean, kitchen with bar counter opening to dining area, in unit W&D, Master Bedroom with ensuite Bathroom, Central Vacuum, SxS parking, TONS of extra storage, and shared yard. Property was recently painted, has a new fence, and new carpet in common area. It’s an amazing property and we marketed it at an amazing price, not really knowing where it would sell.
If you have a property in San Francisco, and you’d like me to help you sell it, I have a great team and we’ll get it done just like we did on this, and many of the other transactions I’ve orchestrated in and around San Francisco.
Are you a buyer curious about the Outer Sunset? I know the area very, very well. I can help you. For a taster, check out this post by Refinery 29: What To Do In Outer Sunset (Slideshow)
1582 48th Ave @ Lawton
List Price: $589,000
Sold Price: $815,000
10 days on the Market
Last night the San Francisco Giants clinched the World Series Title and they did it with authority, routing the Texas Rangers four games to one, in the best of seven series. What made it all the more sweet was continually seeing George W. lean over to his wife and ask her just exactly what was going on. You know she said the same thing to him as she did during his entire presidency, “Honey, we’re getting our asses kicked.” That was sweet. But what about San Francisco?
As expected, the city erupted. Fans and non-fans came out on the streets to partake in the celebration, which (did you have any doubt) quickly escalated into borderline rioting. There were reports of cars being set on fire, overturned, and vandalized. Multiple neighborhoods in the city saw streets blocked and “block parties” erupt. Valencia Street in the Mission was shut down, Chestnut Street in the Marina blocked, 9th & Irving in the Inner Sunset stopped, Market Street downtown packed, King and 2nd/3rd Streets in SOMA/Southbeach flooded, and those are just the areas we saw pictures of on our Facebook page.
As soon as the game was over sirens were blaring on firetrucks and police cars, “bombs” (read: very large fireworks of the M-80 variety) were going off, fireworks shot into the sky, and countless numbers of people driving and honking, and hanging out their windows and sunroofs were waving flags and screaming, “GIANTS!” as they raced through the San Francisco streets in celebration. Surely, many people are waking up today and wondering what hit them, and many more are wondering what is all the fuss…”they’re not ‘World’ Champs after all.”
Phew! It was awesome, it is awesome, but it’s that time. Put your Halloween costumes away (you had an extra day to wear it, you expect two?), go check out the parade tomorrow, high five everyone you know, kiss a stranger, show your support, bask in the glory, but for chrissakes….put your head back on straight will ya! You gotta work, and Brian Wilson called…he wants his f*cking beard back!
Not a whole lot of inventory has hit the market this week. A quick glance at the MLS today shows 43 new SFR (single family residence) listings. Of them, two are in the Sunset, three in the Excelsior, two in Crocker Amazon, two in Portola, and one in Bayview. All of the other new SFR listings are in other counties.
It makes sense. This is a big travel weekend and all. On the other hand, some people do make a point of getting out to look at properties during holiday weekends.
To round it out, there are 58 solds, 34 pendings, and 14 contingents. The end/beginning of this month always sees a “solds dump.”
From our reader:
Is any house in the central sunset worth 1.4 million? The average price in the central sunset 800k -900k.
Please take a look at 2960 22nd Ave, San Francisco which just came on the market.
…and the kitchen:
We must first say that this home is technically located in the Parkside, near Stern Grove and that area is quite nice. Having not actually been in the home, we can’t speak to the price, but if the pictures are any indication….oh wait, those are the before shots from the last sale in December 2007 at $900,000.
Read on for the after….
Lots of people yapping on and on about how San Francisco listing inventory is through the roof, sales volume is in the toilet, and both median and average home prices have plummeted, but the Fluj says:
Seemingly the perception is that there is a lot of inventory, but is there, really? And as for prices, come on now!
Discuss, debate, have fun.
…and kicking it off, we’ll go ahead and show you Fluj’s first comment in the thread to get you going:
Right, so, “Inventory.”
Seemingly the conventional wisdom is that there is a lot of it. Why the disparity between what buyers in the field are actually excperiencing and the media/blogs then?
I did a search for available properties. I used a metric that I believe to be extremely common for San Franciscans. This is a search for a couple or a small family who hope to buy something with room to grow into.
The parameters are: 750K to $1.205M, 3 brs, 2 bas, 1 car parking. I limited the search zones to only generally safe(r) areas. Essentially I included everthing except Ingleside, Ingleside Heights, and Oceanview, all of 9 save Bernal and Potrero Hill, and all of 10.
I turned up 82 properties.
1. Of the 8 Richmond properties, only one was east of Funston, and it is a cosmetic fixer on 7th Ave for 899K. (On the market for 7 days, offers Tuesday, you best to hurry if interested IMO)
2. Twenty-seven are in the central or outer Sunset.
3. For areas 3, the Arch st. listing appears to be a nice little Merced Heights home for 559 a foot. Many searchers will not entertain areas 3.
4. For areas 4, if they are not on a very busy street or a fixer, only Forest Knoll, and Miraloma Park areas 4-D and 4-H have properties for 550-600 a foot. Like 3, many buyers will not entertain areas 4 as it is not particularly central.
5. Surprisingly, for areas 5, there are only two Glen Park listings. In Noe, there is only 4120 22nd, a permitted fixer in need of at least 600K in capital. In Ashbury Terrace, only one cosmetic fixer I know to have received two offers already. And there is one large fixer property up on Grand View — and it doesn’t have any views.
6. There was nothing in 6. This was surprising.
7-8. Nothing here. Not surprising.
9. Eleven are in Bernal Heights and will not appear in the search perameters of many groups. Two in Potrero Hill. The Wisconsin listing is a total fixer on a corner with very little southern exposure and an entrenched tenant. The Rhode Island property at $1.195M and 663 a foot appears to be a decent deal for North Slope.
So is that a lot of inventory? I really don’t think it is.
It seems to be the week of getting edumucated on theFrontSteps. First chickens, now rising crime in Bernal Heights? We have no factual evidence to support what we’re saying, but the information has come to us from a very reliable and trustworthy source. We’re hoping you (the reader) can shed some light on the matter. We know some of you in particular might have better knowledge on the matter than we, so please share.
It’s too damn hot and nice outside to blog about San Francisco real estate today. Maybe when we come in for a lemonade we’ll get to some posts, but for now, the sun is blazing and we say, Eff theFrontSteps! Get outside and enjoy the weather, because you know it won’t last!
If you absolutely must get your fix, try starting up a conversation or posting some videos or photos to our social network. And of course, you could always go head to head with “the Fluj” about our Redheaded Stepchild, the Sunset.
As you know by now, we caught the Fluj, and those of you that are familiar with his opinionated writing about San Francisco real estate know that he is nothing short of extraordinarily gifted at firing people up, not to mention a wizard with MLS and various other stats to support his arguments about San Francisco’s resilience in this time of national doom and gloom.
So let’s see how it goes today:
I would like to show the surprising relative strength of the Sunset market [not the Sunset Super]. It seems to be everybody’s redheaded stepchild, you know? But it isn’t exactly tanking, is it?
We would have to agree with “the Fluj” on this one, but we’ll leave it to y’all to debate.