SOLD OFF MARKET | NoPa Condo @215 Cole St. | $1,500,000

Had to just do a quick blog post to congratulate the buyers and sellers of this sweet little gem I just sold off market.

Another amazing off market opportunity for my dear readers…not going on MLS for a few weeks, but definitely available for immediate purchase and viewing.

Like some of my other listings at the moment, this is off market, so we don’t have pictures to share. You gotta see it in person.

San Francisco Real Estate Micro Market Update – Plus 3 Off Market Gems

Like a bear coming out of hibernation, the San Francisco real estate market is waking up from its Summer slumber and new inventory is flooding the market. As of the time of this post, this week alone San Francisco has seen 254 new listings (of all property types) hit the market since Monday. That’s more than double the rolling average for the months of June, July, and August. The linked tear sheet is as basic as you get, but it will give you an indication of what’s out there. As soon as the data dump is complete, you’ll be able to see all of these Hot New Listings on The Goods.

All Summer long, no matter where I was, or what I was doing, people ask “So how’s the market in San Francisco?” It’s almost as common as “Is it foggy in SF?” And my answer to them has become canned, “It’s slow in places, white hot in others, and everyone is waiting until after Labor Day, so let’s see what happens then. And yes, it’s foggy…every day.”

It’s very hard to paint an accurate picture of a market when I know sellers are holding out until after Labor Day, and buyers are waiting in the shadows, or traveling to exotic locales to escape the fog. It’s not possible to know if it’s a broader slowdown, or just the typical Summer Doldrums as I like to call them.

I have about 15 buyers, and 5 listings. Three of those 15 buyers are looking for the same thing, and as it stands today, there is only one good choice for all of them. Multiply that by the other Realtors working the same tight city market, and I can already see a recipe for Overbids on many properties in prime locations, high demand, and continued low supply. I’ll go out on a limb and say I suspect things to really heat up this Fall, so if you’re still thinking of selling, now is a damn good time.

If you’re looking for a place, I suspect you’re going to continue to need a thick skin and patience. As I say to everyone that I meet, get on my radar as there is an entire world of off market activity to increase your chances of buying success, and I’m always here to help make your life easier. Cases in point, I am bringing 1010 Cole Street back on the market any minute (painted, staged, $150,000 less, and looking amazing!), 318 Connecticut just hit the wire, and 215 Cole, 715 Cole, and 1720 Larkin are in my pocket, ready to be sold.

Happy Fall. See you out there, and make sure you introduce yourself.

$682,000 Over Asking in the Outer Sunset to End the Year

You thought I was going to let you finish out the year without one final Overbid stunner, didn’t you? I actually tried, but then it didn’t snow (Supreme Leader says it’s cold, so Global Warming is not a real thing), so I was left with a choice of skiing man-made ice, or sit down and share these jaw-dropping overbids with you. I chose the latter, if that tells you anything about the quality of skiing up around Tahoe these days. Pray for snow!

Anyhow…It’s important to note, many of these homes hit the market at what is traditionally the slowest time of year for San Francisco real estate, the Holidays, yet still had enough interest to drive the price to the moon. Case in point, the #1 Overbid at 1623 43rd Ave, listing for $998,000 (some would argue a bit low), but selling for a staggering $1,680,000! Forget about the overbid amount, and focus on the final sales price…that’s damn near $1.7M for a basic Outer Sunset home…the Sunset…the place nobody ever wanted to be, and now it’s the hottest neighborhood in the city. Maybe all these hipster surfers are on to something. ;-)

So you’re thinking this property is just a one-off…not so. Look at the #2 Overbid at 840 Kansas, a fixer in Potrero Hill selling for $1,629,000…or 49% above their list price.

Before any of you nay-sayers spending too much time “plugged in” to other sites get all bent out of shape about us Realtors constantly touting overbids, stop for a minute and look at the underlying price per square foot on both of those sales $1153/sqft in the Outer Sunset and $1398/sqft in Potrero Hill.

Since this is my last post of 2017, let me dig a little deeper into those numbers for you. My quick calculations and MLS sales search shows in all of 2016, there was exactly one sale in the Outer Sunset over $1.6M, the average sales price was $1,095,578, and the average price per square foot was $801. Fast forward to the same search for 2017, there are seven sales over $1.6M, average sales price is now $1,229,376, and the average price per square foot is now $902. That is just single family home sales for the Outer Sunset. If you want Potrero Hill numbers, you’ll have to contact me. I’m going surfing right now.

Here are the top 10 Overbids to finish out 2017…

Address BR/BA/Units DOM List Price Sold Price Overbid
1623 43rd Avenue 3/2.00/N/A 13 $998,000 $1,680,000 68.34%
840 Kansas Street 2/1.00/N/A 22 $1,095,000 $1,629,000 48.77%
131 Peru Avenue 3/2.00/N/A 13 $749,000 $1,105,000 47.53%
253 Sussex Street 2/1.00/N/A 11 $899,000 $1,300,000 44.61%
355 Winding Way 3/1.00/N/A 47 $828,000 $1,063,000 28.38%
260 King Street 1/1.50/657 15 $720,000 $900,777 25.11%
108 Sagamore Street 110 2/1.25/N/A 40 $819,000 $1,005,000 22.71%
251 De Long Street 2/1.00/N/A 12 $699,000 $788,000 12.73%
150 Saturn Street 3/2.00/ 11 $1,499,000 $1,675,000 11.74%
5160 Diamond Heights Boulevard 1/1.00/307C 35 $650,000 $725,000 11.54%

As always, the rest of this great data (Overbids, Underbids, Recent Sales, New Listings, and more) can be found on The Goods.

I wish all of you a safe and Happy New Year! Here’s to 2018, tons of snow, and me helping ALL of you sell your SF properties so you can take the cash, retire, and live your dreams.

Ciao, au-revoir, adios, auf wiedersehen 2017! See you all next year.

Sutro Heights Dream “Cottage” Asks $3,495,000

Originally built in 1884 as the gardener’s cottage for Adolph Sutro, first Mayor of San Francisco, 542 46th Ave is not your average beach “cottage”…it’s amazing in every way, and you, my dear readers, are the first to see it.

Agents & Sellers Beware: Fake Buyers in San Francisco

From one of our colleagues in the industry,
“Just FYI, I was notified today by another agent who ran into a family of fake buyers.

Here’s more info about the fake buyers:

They use the name Anna Harrison, phone number 415-200-5532. Jason Torres is the partner and there is an older gentleman claiming to be the dad of Jason. There is no account at Chase and they have no record of them.

This happened to another agent in the city. Motivation is unclear, other than tie up properties then walk.”

These folks aren’t the first, Michael Lecht might just be using another name…keep your game face on.

Real Estate Agents, Sellers, And Investors Beware of Fake Buyer, Michael Lecht [theFrontSteps]

Maximum Overbid Of The Week | Kitchen & Bathroom Cost Extra In Bernal Heights

With so many great pictures from which to choose, how do you pick just one? You don’t. You must see to believe… 18 Prospect, a 3 bed, 1 bath, single family in Bernal Heights takes this week’s Overbid cake giving new meaning to the term “development opportunity”.

Listed at $829,000 and SOLD for $1,250,000 (cash of course), it should come as no surprise it gets top Overbid honors. How do you price the ultimate fixer? You price it low, and let it go. Whether it comes with a kitchen and bath, or not, is up for debate. Looks like neighbor building is next.

Address BR/BA/Units DOM List Price Sold Price Overbid
18 Prospect Avenue 3/1.00/N/A 11 $829,000 $1,250,000 50.78%
185 Stonecrest Drive 3/2.00/N/A 13 $998,000 $1,388,000 39.08%
1771 39th Avenue 3/2.00/N/A 27 $849,000 $1,170,000 37.81%
627 46th Avenue 2/1.00/N/A 13 $799,000 $1,061,000 32.79%
1355 Holloway Avenue 2/2.00/N/A 14 $988,888 $1,308,500 32.32%
4130 21st Street 2/1.50/N/A 12 $1,298,000 $1,710,000 31.74%
2750 Harrison 3/2.00/top 8 $1,050,000 $1,380,000 31.43%
2829 California Street 2/2.00/4C 15 $1,899,000 $2,455,000 29.28%
336 Jules Avenue 2/2.00/N/A 16 $798,000 $1,030,000 29.07%
320 Alabama Street 2/2.00/15 11 $1,048,000 $1,350,000 28.82%

It’s important to note, these properties had largely gone into contract a few weeks (or more) ago…there is potentially a shift in the tide happening at the moment. We are seeing more properties set offer dates and not receive any. Price reductions are starting to happen, and the behind the scenes pleading from my colleagues to “bring your buyers, motivated sellers” are increasing. Could we have reached the peak? Time will tell. For now, there are still far too many buyers for the limited amount of property available, so any change ain’t happening overnight, but it might be happening.

Stay tuned…

San Francisco New Listings, Recent Sales, Overbids, Underbids and more [theGoods]

When A Tear Down Sells For $2,350,000

To say the market isn’t moving along at blistering speed would be an understatement. Thus, my lack of blogging. I have updated all of the listing data we provide at The Goods, such as Top 20 Underbids, Top 20 Overbids, New Listings, SOLD Property (nobody else provides this so easily for your pleasure), and more. Check it out right here, and share it with friends.

I currently have five properties under contract, four of which are for my buyers. The prices we have been forced to offer in order to win, and the number of other buyers we’ve had to outbid, are staggering. Those sales will drop on MLS when I’m deep, deep into the Costa Rican jungle, but for now, Overbids….the juicy top 10, and the juiciest of all is 3658 18th St, an absolute wreck of a property that literally had dirt in the garage, was disgusting to set foot in, and quite literally falling down in the back. But it has good bones. Listed $1,099,000 and sold for…wait for it…$2,350,000.

And the rest..

Address BR/BA/Units DOM List Price Sold Price Overbid
3658 18th St 3660 2-4 Units 15 $1,099,000 $2,350,000 113.83%
136 Delmar St 1/1.00/N/A 15 $775,000 $1,505,000 94.19%
48 Pond St 2-4 Units 1 $800,000 $1,310,000 63.75%
3065 Washington St 4/2.50/3 13 $1,998,000 $3,210,000 60.66%
4154 24th St 3/2.00/N/A 14 $1,248,000 $1,950,000 56.25%
1535 33rd Ave 2/1.00/N/A 23 $849,000 $1,300,000 53.12%
1614 McAllister St 1616 2-4 Units 2 $1,495,000 $2,250,000 50.50%
572 Moultrie St 2/1.00/N/A 6 $930,572 $1,400,000 50.45%
755 Florida St 1/1.50/7 18 $1,095,000 $1,600,000 46.12%
2075 Sutter St 2/2.00/529 14 $895,000 $1,305,000 45.81%

If you, or anyone you know, have questions about San Francisco real estate, just give me a shout. I have a great new listing that will be coming on the market in NOPA/Alamo Square middle of June, and potentially a great home on the Southern end of Noe that will knock your socks off, so get on my radar screen. I also know of several amazing off market homes and pending price reductions to properties you might have already seen. I am a Top Producer, and member of the Top Agent Network after all…LOL!

Real Time New Listings, Recent Sales, Overbids, Underbids, & More for San Francisco [The Goods]

A Look Inside The 2015 San Francisco Decorator Showcase

If you’re like most people who either didn’t get an invite, or don’t have the time to go check out the 2015 Decorator Showcase Home located at 3630 Jackson, don’t fret. One of my favorite photographers, Rob Jordan, has been kind enough to share some amazing interior photos with me, so I can share with you. Enjoy…and share with your friends.

This slideshow requires JavaScript.

To see more great photos, visit (and like) Rob’s Facebook Page. If you’d like to use these photos in any media or blogging, please contact him and don’t poach.

Pretty amazing place, eh? Speaking of amazing places, Kirk Hammet’s former residence (Yes, Metallica guitarist), 2505 Divisadero on the peak of Pacific Heights, is back on (but off) the market asking $12,500,000 and I’d be happy to get you in for a look.

[Update: Don’t get me wrong, if you have the time, you can definitely get in. Tours go through 5/25.]

Stalefish: You Won’t Believe Your Eyes

There is a little something in our market, of which many buyers are not aware, and many agents overlook. I have long referred to them as “Stalefish“, but others refer to them as “buying opportunity” or “still available property”, or what we named (on theGoods) as the “30+ Club”. What are these, you ask?

They are, quite simply, properties on the market more than 30 days, and darnit if there aren’t quite a few gems out there that I’d love you to buy.

Getting beat up in Noe Valley? Check out 469 Valley:
469valley
This is a 3220 square foot remodeled view home in Noe Valley…and it’s still available! Deck, garden, master suite, it has it all. Listed at $2,989,000.

Not your cup of tea? Check out 27-29 Fountain, also in Noe Valley:
27Fountain
Previously listed at $2,900,000, this detached Victorian with 4 bedrooms, booming views, decks, parking, yard, and a great location is now $2,600,000! You just saved $300,000. Opportunity knocking right here.

Maybe you don’t like Noe, and you’d rather be in Cole Valley – sorry, nada. But keep checking!

You think Pacific Heights never has anything for you? Think again. This absolutely stunning home at 2701 Broadway is still there:
SONY DSC

SONY DSC
“Comprised of five levels encompassing over 16,000 square feet the home includes 7 bedrooms, 7 full baths, and 4 half-baths, plus 2 kitchens, 2 family rooms, 2 offices, 3 rooftop terraces, a basketball/sport court, plus a multitude of rooms for today’s active lifestyle. 2 car garage,” and a bargain price of $39,000,000.

Okay, so maybe $39,000,000 is a bit more than you can handle, and you really don’t like basketball anyway. Maybe surfing is more your thing? Well…you’re in luck. It just so happens this little fish at 2307 40th Ave is still there:
230740thAVe
It’s “beautifully remodeled and updated”, close to the beach, and other “neighborhood conveniences like Walgreens” (huh?), and from what I can tell, very ready to be sold.

So if you’re getting beat out by the hordes of buyers all over the hot new listings, and you have possibly overlooked those homes that weren’t exactly perfect, you might like to give this list another glance. And if you’re an agent, you might like to send this invaluable information to your clients (branded to you, or course).

Whether you call ’em Stalefish, or otherwise, no matter how you slice it, there is opportunity out there in many shapes, sizes, and prices. Prices which, at this point, could be very negotiable.

Time to go fishing!

p.s. Wondering about the home with all the marble columns? It’s available too: 3800 Washington, $17,995,000, and it’s frickin amazing!

Stalefish, 30+ Club, Buying Opportunity: Find it all here
Battle Royale: Cole Valley Versus Noe Valley [theFrontSteps]

[Big Ass Disclaimer: Every property in this post and on the Goods 30+Club is listed as “active” on MLS. All information is deemed to be accurate, but not guaranteed.]

New Year, New Beginning?

theGoods_sfHappy New Year!

I hope everyone had a great holiday and New Year’s celebration. Let’s kick off the 2015 blogging with some Stats & Numbers via sfnewsletter, which focuses on the past three years of real estate market activity, as well as a look way back to the 1980’s (were you born yet?), and some random facts about where we San Franciscans spend our money: Reset, Recovery & Randomness – sfnewsletter 1/9/15

As always, it’s chock full of interesting tid bits and random data, as well as a new link to San Francisco’s Most Recent Sales, New Listings, Overbids, Underbids, and Stalefish (Still Available property).