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¡Que Rico! | $681,000 Over Asking For A Tear Down | ¿Qué?

¡Que Rico! | $681,000 Over Asking  For A Tear Down | ¿Qué?

The Friday before Labor Day weekend…Many call it the end of Summer, but here in San Francisco it’s safe to say it’s the beginning. Our temperatures finally heat up from the Bay Shore to the Pacific Ocean. The sun is lower on the horizon, shadows are longer, Fall fashion ads are everywhere, and local restaurants are transitioning to seasonal delicacies like squash and brussel sprouts (Children everywhere collectively laughing at that comment!), and this weekend is the final exodus of Summer travelers, many of whom are headed to Burning Man.
37 Rico Way…a tear down (if you’re so lucky to be able to tear it down) in the Marina district, and definitely built on Landfill, listed for $1,999,000, and sold in the blink of an eye for $2,680,000…in case the hallucinogens of Burning Man are already kicking in and that math is perplexing you, that’s $681,000 over list…and our market is cooling.


As for the rest of the top 10…here you go:

Address BR/BA/Units DOM List Price Sold Price Overbid
37 Rico Way 3/1.00/N/A 15 $1,999,000 $2,680,000 34.07%
753 44th Avenue 2/1.00/N/A 15 $898,000 $1,185,000 31.96%
343 29th Avenue 3/2.00/N/A 13 $1,495,000 $1,950,000 30.43%
83 Winfield Street 2/1.00/N/A 8 $1,050,000 $1,350,000 28.57%
472 Naples Street 2/1.00/N/A 35 $575,000 $735,000 27.83%
361 Church Street 2/1.00/ 43 $989,000 $1,260,000 27.40%
534 Shotwell Street 2/1.50/4 12 $949,000 $1,200,000 26.45%
1178 Dolores Street 2/2.00/ 12 $1,395,000 $1,760,000 26.16%
421 Los Palmos Drive 3/2.00/N/A 22 $1,058,000 $1,325,000 25.24%
486 45th Avenue 6/5.50/N/A 29 $1,998,000 $2,500,000 25.13%

It’s a transitional weekend for real estate, and next week will begin the flood of inventory to our market for the (hopefully) robust Fall selling season. We’re just as anxious to see how it all pans out as you, so make sure you follow this blog, and we’ll keep you in the loop.
Bending your real estate mind one blog post at a time, it’s what I do.
Have a great weekend!
Marina District Liquefaction Zones [theFrontSteps]


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alexclark

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