I’m Seeing Green | Maximum Overbids Of The Week

It’s that lucky green grass…

San Francisco’s Top 10 Overbids Week Ending 3/17/17

Address BR/BA/Units DOM List Price Sold Price Overbid
2259 44th Avenue 2/2.00/N/A 16 $895,000 $1,250,000 39.66%
28 Harry Street 3/2.00/N/A 12 $995,000 $1,350,000 35.68%
1847 43rd Avenue 3/1.50/N/A 2 $899,000 $1,200,000 33.48%
435 West Portal Avenue 4/4.00/N/A 8 $1,695,000 $2,250,000 32.74%
1231 30th Avenue 2/1.00/N/A 6 $995,000 $1,300,000 30.65%
111 Santa Paula Avenue 4/3.50/N/A 13 $1,995,000 $2,600,000 30.33%
51 Fairfield Way 2/1.00/N/A 13 $999,000 $1,248,750 25.00%
321 Bridgeview Drive 3/1.25/N/A 12 $599,000 $748,000 24.87%
521 2nd Avenue 3/2.50/ 12 $1,595,000 $1,975,000 23.82%
68 Rosenkranz Street 3/2.00/N/A 8 $1,650,000 $2,006,000 21.58%

For a look at the top 20 Overbids and Underbids (in 14 day tally), as well as New Listings and Recent Sales, check out The Goods

Otherwise, Happy St. Patrick’s Day (by all accounts an Immigrant), and pinch me when you see me, because I can’t believe I own absolutely zero green items of clothing.

Moving To San Francisco | Things You Should Know | Infographic

A city known for its moderate weather, steep hills, and sweeping bay views, San Francisco is a small city (by land size…only 7X7 miles and flanked by water on three sides) jam packed with culture and coolness. If you’ve ever played tourist in SF, you’re likely aware of the city’s Victorian architecture, trademark fog (named Karl), cable cars, and awesome landmarks like the Golden Gate Bridge, Alcatraz Prison, Fisherman’s Wharf, and Chinatown. Almost any visitor to San Francisco will tell you it’s an awesome place to visit, and even more awesome to call home.

If you are planning a move to San Francisco, it is important to familiarize yourself not only with its geography, attractions, and culture, but also with the cost of living, job opportunities, and other realities. To help you get acquainted with your new hometown, our friends at Great Guys have compiled the data you need to know in the super cool infographic below.

What does the data show? For starters, San Francisco proper is the fourth biggest city in the state of California, and the 14th largest in the U.S. with just over 840,000 residents. The larger metro area, which includes the areas of San Jose, Oakland, and Silicon Valley, has over 7.6 million inhabitants (another reason to live IN the city, and not have to commute). Though it seems job competition in such a populous area would be stiff, unemployment rates are surprisingly far below the national average. Several large corporations including GAP, Twitter, Levi’s, Mozilla, Dropbox, Uber, and Wells Fargo are all headquartered in SF proper, as well as a myriad of tech companies like Facebook, Apple, Intel, Tesla, and Google (to name a few), just a stone’s throw away in Silicon Valley. Not only do these companies employ many San Francisco residents, they also pay pretty well too. In fact, the median household income here is 46.6% higher than the median nationwide.

That said, living in San Francisco is pricey. Normal household costs such as foodstuffs, energy bills, gas, a visit to a doctor, movie tickets and a six-pack of beer are all above the national averages. And home prices? Jaw-dropping. The average price of real estate is over $1 million (If you want the nitty-gritty, read our March Market Report), and that $1 million dollar mark won’t get you much. The outrageous real estate prices could explain why over 60% of the population is still renting. Yet despite the expense, people just can’t resist living here.

San Francisco Moving Infographic

Whether it’s the incredible weather, the cutting-edge tech scene, proximity to wine country, or the beautiful scenery around every corner, there are many reasons to love calling San Francisco home.

If you’re moving to the City by the Bay and are in search of a place to live, contact us. Whether it’s a chic condo close to Union Square or a luxurious spread in Pacific Heights, there’s a perfect place just waiting for you.

The $2,005,000 Fixer | Noe Valley

I was in the process of compiling this week’s list of top 10 Overbids, but couldn’t help to just share this one nutty overbid with you instead…350 Jersey, in the heart-center of Noe Valley, is a “Spacious fixer-upper single-family home, circa 1941

Only in San Francisco do those words get you damn near $1500 per square foot, and over $2,000,000 for a FIXER!

As you can see from the marketing remarks, not only did they get 17 offers (let that sink in), but this place went from a $1,295,000 list price to a $2,005,000 sales price. In case you need more numbers, that’s 54.83% over asking or $710,000 cherries on top. Cash, no less. I’m gonna say it again…for a fixer.

Well, it is San Francisco after all, and it’s pretty effing awesome living here, so get used to it.

Thinking the tide will turn? It will, at some point, but have a look at this “Maximum Overbid of the week” I shared on sfnewsletter (the precedent of theFrontSteps) September 24, 2004…yes I’ve been doing Overbids THAT long (let that sink in too).

64 Prentiss St. in Bernal Heights (Bud, pay attention!). 3 bed, 1 bath, 1 car parking fixer that apparently came with the adjacent lot. Probate sale as well. Asking $599,000, sold for $855,000. Here’s a link to the property description

So there you have it…a little bit of mind-boggling real estate porn to get you through the weekend. As always, if you need more, The Goods has your top 20 Overbids, and Underbids, as well as all of the hot new listings, recent sales, and properties still on the market after 30 days. It’s a tremendous source of information.

Enjoy the weekend!

Happy Holidays From Me To You!

I hope you all have a great Holiday and Happy New Year. I’m checking out of the blog for the remainder of 2016. Enjoy your time with family. Eat a bunch. Ski. Surf. Sit on the beach. Laugh. Be chill. Pray for Snow.

I leave you with a picture of my bad ass 75 year old dad cutting and hauling (make-shift straps mind you) a Christmas tree last week by way of Cross Country Skis and handsaws.

Happy Holidays

Is Facebook watching me! Look what just showed up on my feed…my very own boys cutting and hauling teamwork style back in 2012.

gromsgrabtree2012

Merry Christmas! Happy Hanukkah! Happy New Year!

Get after it! No Excuses.

Track the market while I’m on radio silence right here [the Goods]

Let’s be Friends [Facebook]

Global Warming Could Fuel (Future) San Francisco Real Estate Market

Coming off the heels of possibly the warmest day in San Francisco for the entire month of August, and actually seeing the sun at the coast (I think we broke 70 yesterday), it got me thinking about this recent New York Times article, “Think It’s Hot Now? Just Wait“.

Apparently, “July wasn’t just hot — it was the hottest month ever recorded, according to NASA. And this year is likely to be the hottest year on record. [Makes me wonder how August stacked up.]

Fourteen of the 15 hottest years have occurred since 2000, as heat waves have become more frequent, more intense and longer lasting. A study in the journal Nature Climate Change last year found that three of every four daily heat extremes can be tied to global warming.

This map provides a glimpse of our future if nothing is done to slow climate change. By the end of the century, the number of 100-degree days will skyrocket, making working or playing outdoors unbearable, and sometimes deadly. The effects on our health, air quality, food and water supplies will get only worse if we don’t drastically cut greenhouse gas emissions right away.”

1991-2010
by2060
by2100
cityav

Take a good close look at those maps and think to yourself. If it gets hot as hell, as predicted, where would you want to live? Where will your golf game be more pleasant? Where will your bike ride not suck because your tires don’t melt to the pavement? Where will that nice Napa Cab taste just right? Frying an egg on the hood of your car is only fun once…okay maybe twice.

Forget for a second the millions of people out there that think California’s one AVERAGE winter last year snapped us out of the drought (we’re sooooo not even close to smooth sailing in that department), and forget the millions more that think global warming and greenhouse gases and all that is some political stunt, and think for just a couple minutes about where is going to be an ideal place to live if it keeps getting hotter? A place where you LIVE and not simply SURVIVE.

Looking at the maps, Maine seems pretty ideal…but the bugs will drive you out of your mind, especially the black flies…I know…they tore me up on a canoe trip down the Allagash. (Actually, all the bugs might be dead by then if it gets as hot as predicted.) Phoenix does look inviting with around 163 days/year over 100 degrees, or maybe Houston with some 99% humidity and 62 plus days/year over 100? Hang on a sec….look at the West Coast!

The West Coast of the United States (assuming we have enough water to drink and keep our food supply alive), seems like a pretty safe bet to me. Now you gotta decide between California, Oregon, or Washington. Tough choice, indeed.

Regardless of where you choose, you’d have to think these most desirable coastal areas are going to get even more desirable as the rest of the nation becomes unbearable, right?

Yeah, I’m in the California real estate business, and I think California is hands down the best State in the Nation, but I bet you never thought about the Global Warming problem like this. Perhaps you should.

Think about the potential increase in value for property near a nice cool sea breeze or coastal fog. A place where average temperatures year-round hover in the mid to high 60s. Think about the attraction of not having to pay ever-increasing energy costs to cool your home…just open the window. Think about coastal real estate. There is no more of it, and it’s gonna get hot, hotter, hottest everywhere else!

If you think I’m nuts, and think our market is destined for a crash, have a look at the S&P Case-Shiller Home Price Index for San Francisco since 1987…lots of little ups and downs, but all-in-all WAY up:

SP-Case-Shiller-SF-SFH-Tiers-02-16

It’s safe to say, San Francisco real estate is pretty much steadily hot, and in the future (thanks to Global Warming) could get even hotter. Something to mull over on this foggy (again) August morning.

Think It’s Hot Now? Just Wait [New York Times]
More Long Term Trend Market Graphs [theFrontSteps]
More Reasons We Live Here [theFrontSteps]
The Most San Francisco Summer – Just One Day In 70s In August [San Francisco Chronicle]

Who doesn’t love em…Overbids!

I guess buyers don’t love em. Or the thousands of people still trying to get in this market, but fear not. The tides will turn at some point. They have to.

Top 10 Overbids for San Francisco

Address BR/BA/Units DOM List Price Sold Price Overbid
1551 21st Avenue 4/3.00/N/A 42 $998,000 $1,510,000 51.30%
1634 30th Avenue 3/1.00/N/A 29 $995,000 $1,325,000 33.17%
83 Sharon Street 2/1.00/ 23 $799,000 $1,022,000 27.91%
205 Ellsworth Street 1/1.00/N/A 7 $799,000 $1,020,000 27.66%
422 Green Street 2-4 Units 12 $899,000 $1,130,000 25.70%
425 Lake Street 5/1.50/N/A 12 $1,995,000 $2,450,000 22.81%
824 Shields Street 2/1.00/N/A 26 $699,000 $853,000 22.03%
1770 24th Avenue 4/3.00/N/A 7 $1,195,000 $1,455,000 21.76%
54 Cook Street 56 2-4 Units 11 $1,200,000 $1,455,000 21.25%
2 Dawnview Way 5/4.00/N/A 18 $1,250,000 $1,504,000 20.32%

For more Overbids, Underbids, Stalefish, Recent Sales, and New listings, check out my Goods Page. Your one stop shop for all things Real Estate.

Happy Friday! Come check out my new listing this weekend – she’s a beauty, that’s for sure.

Hey Overbids!

The overbids are still there, it’s myself who has been a bit absent. Hey! It’s Summer, so why not.

Top 10 Overbids for San Francisco:

Address BR/BA/Units DOM List Price Sold Price Overbid
792 Capp Street 3/1.00/N/A 13 $995,000 $1,450,000 45.73%
154 Bonview Street 1/1.00/N/A 9 $799,000 $1,150,000 43.93%
113 Newman Street 2/1.00/N/A 9 $889,000 $1,250,000 40.61%
2330 Sloat Boulevard 5/3.00/N/A 23 $995,000 $1,380,000 38.69%
1375 32nd Avenue 2/1.00/N/A 32 $950,000 $1,280,000 34.74%
1728 Ortega Street 3/2.00/N/A 16 $1,095,000 $1,458,000 33.15%
850 Treat Avenue 2/1.00/ 10 $999,000 $1,300,000 30.13%
23 Roscoe Street 1/1.00/N/A 27 $695,000 $890,000 28.06%
4228 24th Street 2/2.00/ 15 $1,299,000 $1,650,000 27.02%
1856 28th Avenue 3/1.00/N/A 25 $975,000 $1,238,000 26.97%

For more Overbids, Underbids, Stalefish, Recent Sales, and New Listings, check out The Goods.

Have a great weekend. Come visit me at 1011 23rd, my super sweet loft, which just came BOM for $699,000.

“Bay Area Home Prices by Transit Stop” Is Sure To Melt Your Brain

Perhaps the coolest (and frankly, REALLY insightful) graphics and lists to come across my desk in a really long time. Kudos to the folks over at Estately for putting this Bay Area Home Prices by Transit Stop edit together:


…and this to spin your brain around the connection between Silicon Valley and San Francisco:

“Estately Real Estate Search analyzed the last six months of home sales for houses, townhouses, and condos that were within a one-mile radius of each BART and Caltrain transit stop. We then broke them down by price per square foot.

At an average of $1,630 per square foot, Caltrain’s California Avenue stop in Palo Alto is the Bay Area’s most expensive transit stop to buy a home near. Pittsburg/Bay Point BART stop, the furthest from downtown San Francisco, is the least expensive at $219 per square foot on average.”

Chew on all that for a while on this glorious, post NBA Finals Monday.

Top 10 Underbids | A Medley Of Sorts

When I peruse these top 10 Overbid and Underbid lists that we crank out at The Goods for all of our clients (myself included), I often sit and wonder what is more of a story:


A) The ultra modern residence at 748 Treat that clinched this week’s top Underbid spot by selling for nearly 7% below asking (not much of a story here),
B) The big ticket sale at 3876 Clay, which, although sold for under asking, still sold for $1300+ per square foot (I vividly remember the days we started seeing $1000/square foot on the radar, which now seems like a distant memory),
C) What you get for under $700,000 in San Francisco in the single family home category, or
D) How when we live in small spaces that are insanely expensive some of us are forced to store our “wine cellar” next to our shoes.

Regardless, it’s all good information, provides you some insight into the market, your neighborhood, San Francisco, and what you have to do to get your foot in our Real Estate door, or that now might be a great time for you to get out. Food for thought, on a weekly basis…

Top 10 Underbids San Francisco

Address BR BA Parking List Price Sold Price Underbid
748 Treat Avenue 4 3.50 1 $2,199,000 $2,050,000 -6.78 %
326 Noriega Street 4 3.00 1 $1,475,000 $1,400,000 -5.08 %
3876 Clay Street 4 2.50 2 $4,175,000 $4,035,000 -3.35 %
2107 16th Avenue 2 2.00 1 $930,000 $900,000 -3.23 %
3305 Broderick Street 3 3.50 1 $3,150,000 $3,050,000 -3.17 %
68 McCoppin Street 1 1.00 1 $749,000 $728,000 -2.80 %
1750 Taylor Street 2 2.00 1 $2,695,000 $2,627,625 -2.50 %
8 Buchanan Street 2 2.00 1 $1,155,000 $1,130,000 -2.16 %
718 Joost Avenue 1 1.00 0 $695,000 $680,000 -2.16 %
355 Grove Street 5+ unit 5+ unit 1 $5,988,000 $5,860,000 -2.14 %

Have a great day!