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]

18prospect

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]

IMG_2730

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]

sf-decorators-showcase-rob-j-photos17

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.]

3800washington

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).

Cole Valley Property Gets 30 Offers

135parnassus
Because one offer isn’t enough, 135 Parnassus (a teeny – tiny 1192 sqft, 2 bed, 1 bath condo) in the heart center of Cole Valley, just blew the roof off of reality. Sure, priced crazy low at $799,000 (actually, I would have priced it similarly because it did have some issues), but still…30 offers? Come on!
135parnassuskit

I do know roughly where this will sell, but have been asked not to share pricing info, so check back, contact me, or better yet – get on my list to receive real time sold property reports to your inbox every other Friday. (Sign up at sfnewsletter.com and get “The Goods”.)

The agent kindly informed me, “We also have a solid backup offer”, and my response, “You actually have 29.” Ahhh…to be a seller in San Francisco.

And didn’t I just report the market might be cooling…sort of?

Wowza.

135 Parnassus – Cole Valley [Property Detail]
San Francisco Real Estate Market Cools (sort of) [sfnewsletter]
Real Time Neighborhood Sold Property Reports via Inbox [sfnewsletter]
Agents, Send The Goods To Your Clients [www.theGoods-sf.com]

Buying A Home In San Francisco – Step 3: Go See Some Property!

You starting to feel ready to buy a home in San Francisco? By now, hopefully, you’ve made it through Step 1, and are now either pre-approved, or can provide Proof of Funds, and are getting dialed into this thing called the internet and how well it can help you instantaneously see what is new on the market, because you’ve completed Step 2, by having listings sent to your inbox automagically.

That makes you ready for…

Step 3 – Go See Some Property

You’ll want to go see the ones you might even remotely like. Even if you think it’s not a perfect match, you should go take a look anyway. It will help you get a feel for the market, and if you see something that is an “almost” you can track the sale of it to educate yourself on actual sales prices versus list prices.
So how can you know what properties to tour and when? There are a number of ways to do it.
a. Schedule private showings with your Realtor. Schedule them as soon as you can. It’s the best way to see property, without the hundreds of other people, and it gives you a jump on the competition.
b. Still not ready to wed yourself to a frothy real estate agent? Hit the Sunday Open Houses. You can pretty much bet that 99% of the listings you’re getting fed via email will have an open house on Sunday from 2-4pm (in San Francisco). If you show up at a house and it’s not open, oh well…use the opportunity to check out the ‘hood.
c. Tuesday “Broker” Tour. You can also bet that new listings will be open on Tuesday Broker Tour in their designated time slot. Tour rotates around the city beginning at 9am in Telegraph Hill area, and ending in SOMA/Mission/Potrero Hill areas in the late afternoon around 4pm. Times are in increments of 1.5 hours. For example: Pacific Heights new listings are open 10-11:30 on Tuesdays, and the Mission will be from 2-3:30pm.) Technically Broker Tour is meant for Brokers only, but any Realtor that refuses entry to you (a buyer) should be asked to leave the industry. It’s easy to get the Broker Tour schedule, just ask your Realtor, or theFrontSteps.
d. SFOpenHomes.com – Fed directly from MLS, and including any property in the system that has been added as having an open house. You can search by all sorts of criteria, so you can pretty much find anything you like, and whether or not it will be open.
e. Craigslist – Check Craigslist for properties that may or may not be on MLS and whether they’ll have an open house, or when they’ll be available for viewing.

If your schedule does not permit a private tour set up by your agent, or if you prefer to visit property in your own car, on your own time, you can count on options c,d,e to get you where you need to be. Just get out there and get educated! Be warned, almost every real estate agent you come across at an open house will ask you if you’re currently being represented. If you don’t want to be bothered, just say “Yes, I have an agent”, and feel free to drop our name if you panic, and they’ll probably leave you alone. Oh, one more thing…there is no need to fill out the “Open House Sign Up” sheet, unless you like to be spammed. It is simply a tool for agents to get your contact info and add you to their marketing.

So get out and tour, and if you see a property you like, and you think it’s “the one”, don’t pass it up because it is the first property you may have seen. There is a really good chance something like it won’t come around anytime soon, so you gotta jump on the ones you (sort of) love.

Godspeed!

Step 1- Get Pre Approved, Provide Proof of Funds [theFrontSteps]
Step 2- Get Listings Fed to you Automatically [theFrontSteps]

Coming Soon! 2191 32nd Ave, San Francisco – $785,000

It’s not everyday you come across a home like this in the Parkside (many simply generalize it at “The Sunset”) District of San Francisco. This home at 2191 32nd Ave has been meticulously maintained by its owner and will be coming on the market very soon. We’re in the final stages of touching it up, and it will soon hit MLS and be available for showings, so get your finances in check and get ready for a home like none you have seen in recent memory in this part of town.

This unique home built in 1933 has hints of Rousseau and Tudor styles all wrapped up in one. From the soaring dark wood beamed ceilings with original art details, the rounded (and functional) wood burning fireplace in the formal living room, to the crown moldings in the formal dining room, this is truly a home not typical of this location. All throughout the residence you will find tremendously detailed, and pristine hardwood floors. Upstairs is a formal dining room, remodeled kitchen, breakfast area with built in cabinets. Skylights and a center patio bring in natural light and fresh air providing a tranquil outdoor setting quite literally in the comfort of your own home. Also upstairs are two bedrooms, one original detailed bathroom with separate tub and shower (wait til you see the purple tile), large closets, and OCEAN VIEWS from the bedrooms that will keep you checking the surf all day long.

Downstairs is a large bonus room with beautiful hardwood floors, access to backyard and deck, full bathroom, a small kitchenette, and – hold on – a wood burning fireplace! This room would be perfect as either a master suite or family/entertainment room. There is also a laundry room on this level and access to the large two car garage.

Asking price is going to be $785,000 and we’re aiming to be on the market officially in two weeks time. If you have any questions, please do not hesitate to ask. If you’ve been looking for a home anywhere in the Avenues around Sunset Blvd, this is going to be the home for you.

-2191 32nd Ave, San Francisco, CA – asking $785,000 and on the market soon.