It’s true, in San Francisco the craziest overbids most often go to the fixers. Why? Not because these homes are any better than most, simply because they are typically priced much lower than their peers, and that attracts contractors, developers, and dreamers alike who ultimately drive the price way over asking, but not necessarily into unreasonable market value. It’s a game we play here in San Francisco, and I do believe this game is not played anywhere else, but it works, so why not keep doing it.
Here they are, San Francisco’s Top 10 Overbids of the Week
|Address||BR/BA/Units||DOM||List Price||Sold Price||Overbid|
|276 Grand View Avenue||1/1.50/N/A||3||$999,000||$1,400,000||40.14%|
|599 Sawyer Street||4/2.00/N/A||14||$949,000||$1,300,000||36.99%|
|80 Collingwood Street||2/2.00/201||6||$1,385,000||$1,828,000||31.99%|
|152 12th Avenue||3/2.00/N/A||12||$1,649,000||$2,160,000||30.99%|
|1369 Quesada Avenue||5/3.00/N/A||14||$899,000||$1,165,000||29.59%|
|1001 Pine Street||1/1.00/501||13||$698,000||$870,000||24.64%|
|1667 27th Avenue||3/2.00/N/A||0||$1,195,000||$1,475,000||23.43%|
|130 11th Avenue||3/1.50/N/A||7||$2,495,000||$3,075,000||23.25%|
|1742 28th Avenue||2/1.00/N/A||13||$1,195,000||$1,450,000||21.34%|
|208 Winfield Street||1/1.00/N/A||4||$995,000||$1,200,000||20.60%|
As for the real estate outlook, this is what the collective heads in the finance world are saying:
The housing market looks good according to the February 2020 Economic Outlook from Fannie Mae’s Economic and Strategic Research (ESR) group. Summing up the report, Fannie Mae’s SVP and Chief Economist Doug Duncan said, “Looking ahead, we continue to anticipate that the economy’s resilience will help keep housing on a firm growth track. In fact, our updated housing market forecast shows greater strength in essentially every part of the housing market extending through the first half of 2021.”
Well then, let’s get some more inventory for the countless buyers out there and get this show on the road! It is still very much a seller’s market for single family homes, so if you have one you need to sell, contact the experts and let’s get some inventory for the hundreds, if not thousands of buyers out there.
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