1959 Lombard

Marina / Cow Hollow Property Gets $1,200,000 More Than Asking

If you haven’t noticed, posts on this here site have been sporadic to say the least, and will remain so for the rest of the year. That said, I couldn’t help but share this Cow Hollow/Marina District property at 1959 Lombard that just closed for $1,200,000 over the list price!
lombard

For you Commercial geeks, the cap rate on this bad boy is a 2.69%! And “long-term” tenants mean 1 of 2 things…potential to increase rents, or potential to increase headaches. Regardless, somebody saw great value in this building (as they should), and IMHO should be thrilled.

Underpriced? Probably. But let’s consider the larger market logic that compels someone to not only list a property more than one million dollars below market value (when you just don’t know you gotta price it low), but the psychology as an agent that must convince a buyer to offer $1,200,000 MORE than what the seller is “asking”, and the buyer that has to come to grips with that reality.

I’ve been in this game for nearly 15 years now, been through two monstrous peaks and subsequent declines, and some things just haven’t changed…namely San Francisco has long been a premier destination to call home, start a business, raise a family, and invest in real estate. Surrounded by water on three sides, heavily restricted on vertical development, and historical preservation, it’s just that tough to get your hands on some choice San Francisco property.

Pray for snow! Dream of surf. Enjoy the day.

The Goods: Real-Time market data for my clients

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572 Funston

Real Estate Porn For The People…

Who came down with a heavy case of the Mondays…and Tuesdays, Wednesdays, Thursdays, and Fridays? I did. Right here.


I know you all want the great real estate porn that got you on this site in the first place, but I’ve been busy, so I figured I’d make your life, and my life, easier…here you go: Check out The Goods, it’s all new, super sleek, works great on your mobile device, and has all of the same great data you’ve come to love (minus my snarky comments).

Want Top 20 Overbids…all there, all the time. Start to notice things like 135 Webster, finally dethroned by 572 Funston.

Want Top 20 Underbids…got those too. Marvel at places like (239 Arletta in Visitacion Valley, which sold for 20% BELOW list…wait for it…at $480,000 to clinch top spot on the Underbids. That’s a $600,000 home selling for $480,000 and the address on the post card to mom will read “San Francisco, CA”.

Looking for Hot New Listings. Gotcha covered there too. No need to wait for me to tell you about what just hit the market in your ‘hood. Grab properties like 164 Belvedere (drooling) and immediately share with your friends to plan your dinner parties when they buy it!

The Holy Grail…Recent Sales…got those too. I was the first in San Francisco to provide this valuable data to my clients on a regular basis, so why should I stop. Such an easy way to track what’s going on in your ‘hood without my annoying phone calls, texts, and emails to remind you how much you love me.

My buyers’ favorite…Stalefish…had to tone this down for the masses and call em 30+, but this is my site, and dammit if I don’t like calling them Stalefish better. A Stalefish is a property 30 DOM* or More…and would you believe 149 29th St is BOM*. For the record just cuz it’s Stale, doesn’t mean it stinks!

So there you have it. Now you don’t need me to update you as often. You want the Goods, you get the Goods. Spread the word.

Fellow agents…we are now offering my service of The Goods to you…your branding, your look, your site…update your people with the same great data. Contact us at info@thegoods-sf.com or nate@thegoods-sf.com to get your pages set up and start sharing this wonderful real estate market information with your people.

*BOM = Back On Market
*DOM = Days On Market
*Duh!

rentcafe

In San Francisco More Households Making Over $150,000/year Choose To Rent Than To Own

Check out this report the kind folks over at RentCafe just sent me:

“With all the talk about renters being squeezed out of the housing market and new high-end construction pushing up rents, we’ve decided to take a close-up look at Census data and see who’s actually driving today’s rental marketplace. We’ve put all our findings in this report here, in case you might be interested in checking them out and perhaps sharing the story with your readers.
rentcafe
While affordability remains a major concern for many low-income renters, there’s a growing number of people that know nothing of – nor care about – the “30% of income on rent” rule of thumb. In fact, there’s a market for wealthy renters and it’s not lacking in demand!

The number of renter households that earn more than $150,000/year increased by 217% in 2015 compared to 2005, with a whopping 1.2 million affluent households joining the ever-growing rental pool in the last decade. Meanwhile, the number of homeowner households within the same income bracket has increased by a much lower 82%.

When broken down by city, things are even more surprising:
– Fort Worth leads the charts with a spectacular 77% increase in the number of high-income renters from 2014 to 2015.
San Francisco may be the second-most expensive rental market in the US – with a startling $3,472 in average monthly rent – but it’s also home to the second-largest number of renters that earn more than 150,000/year: 57K (who also outnumber wealthy homeowners in the city by 4%). That means that nearly 25% of all renter households in San Francisco are in the upper income bracket – the largest share of rich renters/city in the nation.
– Los Angeles has the third-highest number of wealthy renters in the country, approx. 51K, an 8% increase between 2014 and 2015. Still, the majority of LA renters (59.7%) earn less than 50,000/year.
– NYC is the mecca of people with big paychecks – not much of a surprise there. But did you know the Big Apple is home to approx. 212,000 renters that earn more than 150,000/year (approx. 10% of the total renter population)? That’s nearly four times more than the number of high-earning renters that call San Francisco home and 12 times the number of Boston’s affluent renters.”

The report – which you can find here: http://www.rentcafe.com/blog/rental-market/luxury-apartments/1-2-million-more-wealthy-renters-in-10-years/ – contains many more interesting facts and findings (plus some really cool visuals), that will certainly help you gauge local and national real estate economies.

Thanks for sending my way…makes you wonder why so many of those high income earners choose to rent as opposed to buy.

2250 Vallejo Listed $25,000,000

The Rise Of the Underbid

It used to be this Top 10 Underbids list was made up largely of the “ugly ducklings”…the properties nobody wanted…the overpriced “shoot for the stars” sellers…or the homes that just had too much hair on them. Not anymore. Check ’em out. The market has shifted for sure. Buyers…wake up! There are deals to be had all around San Francisco, as we speak.

San Francisco’s Weekly Top 10 Underbids

Address BR BA Parking List Price Sold Price Underbid
327 Cumberland Street 2 1.00 0 $2,350,000 $2,030,000 -13.62 %
2250 Vallejo 7 7.00 2 $25,000,000 $21,800,000 -12.80 %
2028 McAllister Street 3 1.00 3 $1,695,000 $1,500,000 -11.50 %
62 Glover Street 64 N/A N/A 2 $2,500,000 $2,275,000 -9.00 %
3233-3235 Steiner Street N/A N/A 2 $1,899,000 $1,765,000 -7.06 %
5211 Mission Street N/A N/A 2 $1,385,000 $1,290,000 -6.86 %
1379-1383 25th Avenue N/A N/A 2 $2,359,000 $2,200,000 -6.74 %
13 Surrey Street N/A N/A 0 $899,000 $840,000 -6.56 %
955 Rockdale Drive 4 2.50 2 $1,999,000 $1,875,000 -6.20 %
362 28th Avenue 2 1.00 1 $1,270,000 $1,193,500 -6.02 %

In case you missed it, check out 2250 Vallejo (sold for $21,800,000)…holy sh*t that’s a sweet house!

More Overbids, Underbids, Stalefish, New Listings, and Recent Sales [theGoods-sf.com]

SOLD

SOLD! | 1957 11th Ave | Golden Gate Heights | $1,400,000

There is a story to this one…Nonetheless, I’m pleased to report the (finally!) successful sale of this amazing Golden Gate Heights Property.

Nestled in the hills of Golden Gate Heights with wonderful vistas to the North/North East, surrounded by beautiful trees and a lush garden, and tastefully remodeled for the minimalist in all of us, including a painstakingly thought out master suite on the lower level, which opens to the garden, 1957 11th Ave is the home you don’t want to miss.


Having found this wonderfully crafted home built in 1948, the architect/owner of this home set out on a journey to create an oasis of minimalist living and design aesthetic nestled into the hills of this vibrant and bustling city of San Francisco. The kitchen was remodeled in 2008 with a focus on clean lines and simple living while maintaining the charm of the original home. In 2014 the lower level was completely remodeled incorporating a designer master suite with walk-in closet and ultra modern master bathroom complete with radiant floor heat, Hans Grohe fixtures, Ariostea Italian High-Tech Wood tile, and Toto toilet.

Not wanting the upstairs bath to be outdone, it too underwent an extensive designer remodel in early 2016 also with radiant floor heat, Ariostea Italian High-Tech Wood floor tile, Honed Italian MaxFine Calacatta wall tile, Toto toilet, and a wonderfully situated window which make tub soaks and showers feel as if you’re in the garden.

In addition to the remodeled designer master suite, kitchen, and luxury baths, this home contains a total of three bedrooms, approximately 1595 square feet, parking for one car, a woodburning fireplace, hardwood floors with original detailing, high ceilings, views, hallway skylight, a “Romeo & Juliet” balcony from the second bedroom to the garden, a deck off of the kitchen perfect for outdoor dining/entertainment (and of course barbecuing), plantation shutters, new water main, new furnace, tankless water heater, stackable washer & dryer, recessed lighting, and a newly installed irrigation system to keep the amazingly lush garden alive and well.

This home…you must see.

Details:
List Price: $1,295,000
Sold Price: $1,400,000
3 bed
2 bath
1 car parking
Remodeled Kitchen, Baths, Master Suite
Radiant Floor Heating in Baths
Ariostea Italian High-Tech Wood tile
Hans Grohe Fixtures
Woodburning Fireplace
Hardwood Floors
Lush Landscaped Front and Rear Garden
Irrigation System
Stackable W&D
Tankless Water Heater
Recessed Lighting
Plantation Shutters
Views
New Furnace
Toto Toilets

Exclusively listed by:
Alexander Clark
Keller Williams Luxury Realty International
theFrontSteps.com
alexclark@gmail.com
415-254-5351

Contact me for details about this sale, or to talk about selling your home:

What's for dinner?

Outer Parkside Gem Claims Top Spot On Weekly Overbids

Usually, I’m posting the top 10 Overbids on Fridays, and Underbids on Mondays, but sometimes the planets get out of orbit, tides rise too high, and I have my own listings and buyers to tend to. But when I come up for air, I always like to enlighten you all with a little bit of jaw-dropping real estate porn to take you through the week, and today is no exception. Have a look at 2063 41st Ave, in San Francisco’s Outer Parkside district:


It came blazing on the market just after Labor Day at a seemingly bargain price of $599,000 (for comparison, here are ALL recent sales under $600,000 in SF), one bidding frenzy later, and this buyer just landed an epic fixer for $820,000…time to bust out the Coleman camping gear (including stove), and enjoy your Ocean View.

As for the rest…here you go, the Top 10 Overbids closed in the past 7 days in San Francisco (take note…they’re getting more mellow as our market cools):

Address BR/BA/Units DOM List Price Sold Price Overbid
2063 41st Avenue 2/1.00/N/A 14 $599,000 $820,000 36.89%
771 41st Avenue 3/2.00/N/A 13 $1,150,000 $1,420,000 23.48%
21 Seal Rock Drive 3/2.00/N/A 11 $1,295,000 $1,575,000 21.62%
1830 Mason Street 2/2.50/ 10 $1,095,000 $1,305,000 19.18%
354 Maynard Street 2/1.00/N/A 43 $699,000 $830,000 18.74%
3011 20th Street 2/2.00/2 13 $1,095,000 $1,300,000 18.72%
3943 21st Street 3/2.50/N/A 12 $1,895,000 $2,200,000 16.09%
14 White Street 2/1.00/N/A 17 $1,388,800 $1,608,889 15.85%
342 Faxon Avenue 2/1.00/N/A 28 $838,000 $968,000 15.51%
1365 16th Avenue 2/1.00/ 17 $1,095,000 $1,250,000 14.16%
SOLD | 762 Great Highway

For Sale | 762 Great Highway #3 | Outer Richmond | $1,095,000

You can’t buy property in San Francisco any further West…this is it…where the land ends and the Pacific Ocean begins. Marvel in the ebb and flow of ocean life from your living room (spot dolphins, whales, sea lions, surfers, kite surfers, and ships going by), escape the City life, catch every sunset from your couch kitchen or dining table, walk the beach every morning, experience the surrounding parks and abundant nature right out your front door.

Situated on the Western-most edge of San Francisco, 762 Great Highway #3 is a top floor, approximately 1491 square foot, Panoramic Ocean View residence with 3 bedrooms, 2 bathrooms, designer remodeled kitchen, refinished hardwood floors, high ceilings, new gas fireplace, in unit Washer & Dryer, Viking range, Dishwasher, new carpet, new paint, abundant natural light, 1 car parking (as well as parking permit for private street), storage, shared yard, and 4 miles of Ocean Beach enjoyment at your fingertips.

If Ocean Beach doesn’t keep you busy, you’re also a stone’s throw from: Land’s End hiking trails; the ruins of Sutro Baths; Sutro Park; Cliff House & Beach Chalet Restaurants; Lincoln & Golden Gate Park golf courses; Beach Chalet Soccer Fields; Golden Gate Park; Balboa Corridor shops and restaurants; Safeway; and so much more. The location of this property also makes for an easy commute to the South via the Great Highway, as well as proximity to the Golden Gate Bridge and points north.

Welcome to Pacific Ocean living at it’s finest.

Property Details:
$1,095,000
Top Floor
Approximately 1491 square feet
3 bed
2 bath
1 parking (plus permit for private street)
Fireplace
Hardwood Floors
New Carpet in Bedrooms
Remodeled open kitchen
Viking Gas Range
In Unit Bosch Washer & Dryer
Bosch Dishwasher
Shared Yard
Skylights
Panoramic Ocean Views
Hoa Dues $200/month (plus $225/quarter for larger HOA)

Showing Schedule:
Sunday 10/9, 2-4pm Open House
Tuesday 10/11, 11a-12:30p Open House & Broker Tour
Thursday 10/13, 5-7pm Open House
Saturday 10/15, 2-4pm Open House
Sunday 10/16, 2-4pm Open House
Private Showings Upon Request

Exclusively listed by
Alexander Clark
Keller Williams Luxury Realty International
theFrontSteps.com
alexclark@gmail.com
415-254-5351

03a

844 Haight Street | Hayes Valley | $1,295,000

So you wanna live in the action, do you? Well, I have just the place for you – 844 Haight sits on the dividing line between Haight Ashbury (considered Lower Haight), Hayes Valley, Buena Vista Park, NOPA, Alamo Square, the Divisadero Corridor, is one block away from the Duboce Triangle area…and you’re in luck, because it hits the market today.


Huge full floor 2 bedroom, 1.5 bath Victorian flat with soaring 12′ ceilings and original details in a vibrant central San Francisco location. Formal Dining Room, Living Room, sitting area, eat-in kitchen w/ Italian Bertazzoni stove, hood and microwave, Bosch refrigerator and Dishwasher, Cherry cabinets w/pull out shelves/inserts, Granite counter tops, pot filler above stove, and Bosch Washer & Dryer in pantry. Travertine marble floors in kitchen and baths. Refinished Hardwood floors throughout. Private deck off kitchen leads to beautiful landscaped garden. Tankless water heater. One car parking. Built-in shelving and huge storage space in garage. Walkscore 93, Transit Score 97 (tech shuttle stop around corner), Bike Score 85 (you’re practically ON the Wiggle). Some would say it doesn’t get any better.

Property Details
$1,295,000
Victorian Flat
2 bed
1.5 bath
1 parking
Storage
Formal Dining Room
2 Fireplaces
12′ Ceilings
Bertazzoni Range
Bosch Refrigerator
Bosch Dishwasher
Hardwood Floors
Private Deck
Shared Garden
Washer & Dryer
HOA Dues $300/month

Showing Schedule
Open Houses Saturday & Sunday 2-4pm
Private Showings by Request

Exclusively listed by
Alexander Clark
Keller Williams Luxury Realty International
theFrontSteps.com
alexclark@gmail.com
415-254-5351

SOLD | $1,400,000 | Box Factory Lofts

Sold | 2169 Folsom M202 | Inner Mission | $1,400,000

Holy hell that was a long one! In the end, we got it done. Congratulations to all involved. And to those readers that are looking for more blogging than just our recent sales, my apologies. We’re working on that too. Gotta make hay while the sun is shining, and get back to blogging about all that good real estate p*rn when we come up for air. In the meantime, there is always The Goods, which updates daily so you can track everything on your own.