Maximum Overbid of the Week | West Portal 2 Bed Gets 42% Above Asking

We can talk about under-pricing all day long, but the fact is buyers keep taking prices higher and higher, and the last time I checked, inventory remains crazy low. Open house traffic to pretty much any single family home in the city remains brisk (borderline mob scene), and condos in great locations are just about the same, so a major tide swing in our market still remains only a topic of speculation, and definitely not reality.

So here you go…the Top 10 Overbids for San Francisco:

Address BR/BA/Units DOM List Price Sold Price Overbid
89 Forest Side Avenue 2/1.00/N/A 22 $1,168,000 $1,656,000 41.78%
2583 45th Avenue 3/1.00/N/A 12 $949,000 $1,330,000 40.15%
2082 36th Avenue 3/2.00/N/A 8 $1,100,000 $1,430,000 30.00%
4779 18th Street 4881 2-4 Units 14 $995,000 $1,250,000 25.63%
38 Bitting 3/2.00/N/A 5 $849,000 $1,050,000 23.67%
1001 Pine Street 0/1.00/1212 20 $499,000 $605,000 21.24%
40 Nadell Court 4/2.00/N/A 16 $849,900 $999,000 17.54%
3324 Scott Street 3326 2-4 Units 0 $3,000,000 $3,500,000 16.67%
2479 Diamond Street 5/3.00/N/A 122 $1,799,000 $2,025,000 12.56%
190 8th Avenue N/A/N/A/7 17 $2,850,000 $3,165,000 11.05%

Definitely a couple stunners on that list, and many that are no surprise (at least to me).

Have a great weekend! Pray for more snow. That last storm was a total tease.

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Getting Twisted in Cole Valley (1342 Shrader)

We’ve been in, around, over, and under this remodeled 5 bedroom, 4.5 bath home at 1342 Shrader in Cole Valley, and it is absolutely awesome. It’s coming to the MLS very soon (if not already) and some lucky person (hopefully our clients) will be throwing some killer parties in this great home.


The little cottage out back:

It’s a beautiful house by all accounts and we’re hoping our clients like it when they see it tomorrow, but we can’t help notice… Is that Twister we see?

What else are we to do when the country is in a recession?

Back to topic, there is a great elementary school just down the street (Grattan Elementary) as well as a lovely pre-school on the same block (Jubilee). Oh, and Cole Street is just around the corner, Haight is close by, a park right across the street and the “banana belt” weather Cole Valley gets in the Summer. Yes, we’re fans…

[Update: Sold $2,370,000]

1342 Shrader.com, $2,985,000 [property website]

You like dags? “Sexy, dog-friendly” condo awaits (1944 Green St.)

Ahhhh…San Francisco real estate is so much fun isn’t it? Our market is inundated with agents (4000+ at last count), there’s a growing number of real estate bloggers out there trying to separate themselves from the pack, and the amount of Realtor “marketing” hitting our Inbox is out of control. We like to call this RealSpam, and today’s little nugget reminded us of a line in one of our favorite movies…“Snatch” (The line isn’t actually on any clip we’ve found, but it’s where Brad Pitt turns and asks “you like dags” in the heavy pikey accent.)

“Sexy, Dog-friendly Condo one block off Union Street”

1944green

[You gotta love that peak-a-boo Golden Gate Bridge view.]

The moral of this story, 1944 Green was just reduced in price to $1,695,000 and the marketing has turned to the canine loving crowd. (Whether or not a building accepts dogs is actually a very common question when selling condos, but we’re not sure it needs to be the focal point. Of course, if it’s not selling, why not try.)

Hold on….this listing has more story. It is the first we’ve seen where we will learn (without getting into contract) what the sellers will miss most about their home…

greenseller

Our favorite line…”Practically no stairs or drama coming in and out of home with my belongings”.

And for you to debate…”Green Street is like living in the palm of the hand of Pacific Heights-flat, gentle, yet still spectacular”.

Finally, this goes to show that if you select and track homes that were previously out of reach or just a pipe dream, every dog has its day, and yours might be just around the corner.

1944 Green [listing detail]

Short Sale at 1671 Bush, and we’re giving back!

To the untrained eye, 1671 Bush St. is nothing more than a “spacious, elegant Victorian flat priced well below market comparables”, but to the wizards behind theFrontSteps

…it is an approved short sale, so time is of the essence, and we would like to sell as soon as possible. We are offering 4% commission to the buyer’s agent.

Okay, so we got spammed and the email gave us the short sale clues, but now you have them too. And since you’re reading, we’ll give you back 1.5% of that commission should you need assistance with that purchase.

As for help with the wallpaper. Sorry, our hands are tied.

Update: And a reader comes in with more details:

It opened at 1.13 then dropped to 995k.

It’s also been on craigslist some times for 899k and must sell.

All told, it’s been on the market for well over 12 months at roughly the same price.

For most of the time it has been in foreclosure, which makes me think that the owners haven’t paid their mortgage for about the 12 months that it’s been on the market.

Last sold was approx 400k in 1997. I’m guessing the owners did a massive refinance to the highest price they could appraise it at. (1.13) then stopped paying the mortgage. I hope the owners are taking a nice holiday with the money the borrowed from the bank before they stopped paying the mortgage.

Especially since it is “AS IS” and it has had no takers at roughly the same price for the last 12 months, look out below!

1671 Bush St. [MLS]

Check Mate! One day on the market and in escrow (2401 Divisadero)

It’s really only the kitchen floors that inspired the title “Check Mate”, or is it the quote from Eddy! that came along with his email?

[One] Day on market. In Escrow. I’d written about this one on [theFrontSteps.ORG] in the old days.

Buyers are out there and ready to strike!

We’d have to agree the high end buyers are out there, as are the mid-range buyers, but what about the low end?

2401 Divisadero [MLS]

Lemonade for sale! And a Cow Hollow Single Family Home Pocket Listing too

As you know, we are out enjoying the weather, but said we might come in for some lemonade and do a post. And since our phones and emails never get a break, we thought we’d introduce you to something sweet, that hit both the phones and emails today:

[Update:]

1807 Greenwich: Contemporary Cow Hollow House

Offered at $2,350,000

Move-in Ready!

* Large-scale living/dining area with gas fireplace

* Kitchen/family room with new stainless steel appliances

* New Brazilian Cherry Floors

* 3 bedrooms on top floor

* Office on ground floor opens to secluded South-facing yard

* 2.5 baths

* New Loewen double paned Windows

* 2 car parking

* Detached on 3 sides

* Fantastic Location … 2 blocks to Union Street shops & cafes

Cow Hollow Single Family Home on 1800 block of Greenwich @ Octavia

Will hit the market Memorial Day weekend

3 bed, 2.5 bath, 2 car tandem with bonus room off the garage.

Built 1996

Contemporary, Granite, Stainless, the whole bit

Approx 2600+ square feet (waiting for exact number)

South facing yard

Price $2,350,000 new description above is better

Interested? Contact us. As soon as we have pics and more details, we’ll let you know.

A Done Deal at 3647 Washington ($910,000 over asking)

We’ve been through the over/under debate countless times, but when the big ones hit we have no choice other than high-light them, and 3647 Washington is no exception.

3647wa

According to MLS, this five bedroom, four and one half bath single family home in Presidio Heights hit the market March 26th at $3,595,000, spent a staggering 12 days (or less) actually “on” the market, and just closed escrow for $4,505,000…or 25% ($910,000) above asking.

We again say, look past the over/under debate on whether it paints a picture of the market and think more about the desire of one person to have that property so much more than the others. Also think about the ones that lost.

Reader Reports: Eddy! steps it up again!

Nice Listing on Buena Vista

I’m not 100% sure if this is a TIC or a Condo — shame it’s not a [Single Family Home] at 4000 sq ft — but I really like this place. Clean, right across from the park and BIG. Not bad for $2.95M.

Eddy!’s favorite part, the agent remarks. [They are quite good (read: over the top), we must admit.]

147 Buena Vista embodies a level of sophistication & elegance that is encapsulated in its early 1900’s architecture & a more modern 2008 rebirth. The era has not been lost & continues to evoke a moment when San Francisco was coming of age & setting the stage to become the Paris of the Pacific. This classic Queen Anne has been melded with vogue design – a successful integration of design and historical elements define & underscore the grand scale that is so prevelant throughout.

147 Buena Vista Ave [MLS]

Nice Listing on Buena Vista [theFrontSteps.ORG, social network]

2021 Webster Withdrawn, Market Crashes! Not so fast…

We’re going to call our very own “Eddy!” out on this magnificent post he made on what appeared to be the end of the road for 2021 Webster (you must be reading that “other” site too much, it’s affecting your logical thinking).

Your analysis would certainly delight the countless nay-sayers around the realternet (internet sites focused on real estate), but unfortunately we have bad news….it’s in contract! Yup, called on it the other day for a client, and it is, in fact, ratified. No idea on the price and terms, but she found a mate.

2021 Webster: The saga continues [Eddy! on theFrontSteps.ORG]

2021 Webster [sfnewsletter listing page]