Over on the Richmond Review, we wrote this week about how San Franciscans, both homeowners and renters alike, tend to stay in one place in the western neighborhoods more often than for the city at large.
But that’s got to be getting harder for at least some of the home-owning class, because the temptation to sell has got to be pretty keen these days, given the return they could get.
Take the case of this week’s biggest overbid, 1819 40th Avenue, which was out there for less than two weeks before it netted a $2.21 million buy.
Not only is that nearly 58 percent higher than the initial $1.39-plus million offering, but the last time this boxy little place with the reverse floorplan sold it was in 1994, and the deal was $275,000 even.
It doesn’t matter how attached you are to your house, your neighborhood, or even your memories, that kind of payout would tempt anyone to pull up stakes.
Of course, the other everyday drama that often plays out with these homes is that the longtime owners die and leave the house to someone younger, who in many cases cannot afford to keep it–or else just finds the seven-figure payday too irresistible. Sort of a circle of life thing out here in the Sunset.
| Address | BR/BA/Units | DOM | List Price | Sold Price | Overbid |
|---|---|---|---|---|---|
| 1819 40th Avenue | 3/2/N/A | 12 | $1,399,000 | $2,210,000 | 57.97% |
| 855 41st Avenue | 3/2/N/A | 11 | $1,095,000 | $1,680,000 | 53.42% |
| 2691 43rd Avenue | 3/2/N/A | 6 | $1,049,000 | $1,575,000 | 50.14% |
| 53 Edinburgh Street | 3/1/N/A | 10 | $998,000 | $1,450,000 | 45.29% |
| 801 Congo Street | 4/3/N/A | 11 | $1,895,000 | $2,600,000 | 37.20% |
| 852 Guerrero Street | 3/1/ | 7 | $1,495,000 | $2,051,000 | 37.19% |
| 2435 25th Avenue | 2/2/N/A | 8 | $1,295,000 | $1,775,000 | 37.07% |
| 149 San Felipe Avenue | 3/4/N/A | 7 | $2,495,000 | $3,400,000 | 36.27% |
| 132 Roosevelt Way | 2/2/ | 12 | $1,595,000 | $2,165,000 | 35.74% |
| 79 Scott Street 81 | N/A/N/A/N/A | 8 | $4,195,000 | $5,600,000 | 33.49% |
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