Overbids…They Still Exist…In Large Quantity…And Still Baffle

It’s been a while since I’ve broken down the top 10 Overbids for you, and although I suspect I’ll be posting Overbids until I retire (I’ve been doing overbids already at least 15 years), the market is doing something weird at the moment…so you should be keeping your eyes on the Recent Sales and Underbids too. It’s getting interesting…

That said, here you go:
Top 10 Overbids for San Francisco

Address BR/BA/Units DOM List Price Sold Price Overbid
556 Mississippi Street 2/2.00/N/A 11 $959,000 $1,487,500 55.11%
1274 Shafter Avenue 2/2.00/N/A 17 $599,950 $850,000 41.68%
1946 42nd Avenue 3/1.00/N/A 14 $995,000 $1,400,000 40.70%
1747 42nd Avenue 0/1.00/N/A 12 $999,000 $1,353,000 35.44%
666 Madrid Street 4/3.00/N/A 34 $998,000 $1,350,000 35.27%
746 Church Street 2/1.00/ 10 $1,395,000 $1,856,250 33.06%
170 Guerrero Street 2/1.00/E 5 $949,000 $1,250,000 31.72%
191 Dublin 4/3.00/N/A 29 $998,888 $1,300,000 30.14%
240 Hartford Street A 1/1.00/ 5 $925,000 $1,200,000 29.73%
60 Coleridge Street 3/2.00/N/A 14 $1,159,000 $1,500,000 29.42%

Looking for an amazing property on an amazing street? Check out 1662 Page, the property so many seek, and is oddly still available and open this weekend.

Have a great weekend everyone!

Bernal Heights Home On Large Lot Gets 12 Offers, Sells In 5 Days

We had to put the battle armor on to get this one (232 Precita in Bernal Heights)…with 12 offers, and negotiations happening at light speed. We offered much lower than the final sales price (given the uncertainty in the market), but had to change our thinking, and change it fast. (This is exactly what I was talking about in my previous post about some properties not getting offers, while others get many multiples.) It was ultimately too nice of a location and lot for my client to pass up. Congratulations to you, sir…well done. It is a great house with major potential.

From the marketing remarks:

Charming 1930’s era Spanish Mediterranean style home with unprecedented 120′ deep x 56′ wide L-shaped lot, offering the most amazing back yard potential you’ll ever find in Bernal Heights! And just a block from beautiful dynamic Precita Park. Versatile, highly desirable floor plan. Living Room with wood burning fireplace, Formal dining room, Kitchen with breakfast nook -all could be opened up for incredible open Living/Dining/Kitchen experience! Two large bedrooms & delightful period bath w exquisite tilework, separate shower & tub. Parquet wood floors. Interior stairs to large home office & guest suite, w obvious further expansion potential. Live the dream & ultimate CA indoor/outdoor lifestyle with fruit orchard, potting shed & Downtown View backdrop! Premium N.Slope location, where Mission meets Bernal.

Property was listed by Vanguard Properties. I represented the buyer. If you want the play by play on how this deal went down, give me a shout.

$715,000 Over Asking For Central Sunset Home With Awesome Lime Green Kitchen

Pricing low debate aside, if you have a house (we’ll call it a “light fixer”) that sells for $1221 per square foot in an area of town that may not have been on everyone’s radar in the past, it’s safe to say demand for single family homes is strong…especially homes that give buyers an opportunity to add their personal touch.

Maybe it’s the lime green green kitchen, maybe it’s the pink bedrooms, or maybe it’s the solid bones and beautiful Parquet wood floors that draw you in. Regardless, once you’re sucked in, if you want to win, get ready to compete and go big. Congrats to the buyer of 1339 21st Ave, a two bedroom, one and a quarter bath home in the Central Sunset that listed for $995,000 and just closed for a staggering $1,710,000 to earn the top spot on this week’s list of top 10 Overbids.

Although I haven’t posted this top 10 list in a while (hopefully you’re tracking The Goods on your own), it’s once again the Avenues FTW:

Address BR/BA/Units DOM List Price Sold Price Overbid
1339 21st Avenue 2/1.25/N/A 15 $995,000 $1,710,000 71.86%
663 44th Avenue 3/1.00/N/A 15 $995,000 $1,510,000 51.76%
459 Ralston Street 2/1.00/N/A 8 $649,000 $950,000 46.38%
103 Randall Street 3/2.00/ 15 $1,249,000 $1,800,000 44.12%
55 Otsego Avenue 2/1.00/N/A 14 $995,000 $1,432,000 43.92%
778 Lakeview Avenue 3/2.50/N/A 12 $1,128,000 $1,600,000 41.84%
220 Liberty Street 2/1.00/ 10 $1,295,000 $1,825,000 40.93%
99 Cragmont Avenue 3/2.00/N/A 13 $1,075,000 $1,500,000 39.53%
83 McAllister Street 1/1.00/201 13 $449,000 $625,000 39.20%
323 Orizaba Avenue 4/3.50/N/A 43 $998,000 $1,380,000 38.28%

Happy Aloha Friday.

Overbids, Underbids, and Everything in between [The Goods]

SOLD | 543 22nd Ave | Central Richmond | $2,350,000

Congratulations to my clients who duked it out to get pole position on the race to own single family homes in San Francisco, and become the new owners of this totally remodeled and like new home at 543 22nd Ave.

Property Details:
Buyer Representation
Single Family Home
4 bedroom
4.5 bathroom
1 car parking
2071 Square feet
Total Remodel
Designer Kitchen
Open Floor Plan

To see all of the pictures and more information please visit the property website here.

543 22nd Ave, Central Richmond Single Family Home, $2,350,000 [the Goods]

Might As Well Just Price Homes At $1

Pricing a Single Family Home… in Bernal Heights… on a hot street… at $899,000? Come on!

Well, you get the top spot on this week’s Top 10 Overbids, and the buyer gets some sweet a$$ green carpet, a vintage kitchen, and linoleum floors for the ages…

Address BR/BA/Units DOM List Price Sold Price Overbid
257 Crescent Avenue 3/1.00/N/A 13 $899,000 $1,500,000 66.85%
2527 42nd Avenue 3/2.00/N/A 13 $1,095,000 $1,646,000 50.32%
92 Santa Marina Street 2/2.00/N/A 19 $1,149,000 $1,711,000 48.91%
422 Vernon Street 2/1.00/N/A 12 $895,000 $1,320,000 47.49%
255 Dellbrook Avenue 2/2.00/N/A 14 $998,000 $1,437,000 43.99%
3945 23rd Street 2/1.00/N/A 7 $1,295,000 $1,850,000 42.86%
2510 24th Avenue 3/1.00/N/A 14 $995,000 $1,380,000 38.69%
163 Dorchester Way 4/2.00/N/A 11 $1,695,000 $2,302,000 35.81%
727 16th Avenue 3/2.00/N/A 13 $1,275,000 $1,705,000 33.73%
2224 Lawton Street 2/1.00/N/A 18 $1,085,000 $1,450,000 33.64%

The rest of you just get to marvel at San Francisco’s insatiable demand for single family homes…and a good weekend to go ski, surf, cycle, golf, or any of the countless activities living in California affords.

Happy Aloha Friday!

Tight Inventory, Top 10 Overbids, and 7 Off Market Listings

Currently, there are exactly 167 Single Family Homes for sale in the entire city of San Francisco…from the Marina District down to Visitacion Valley. Of those, only 42 hit the market in the last week, and some have actually been on the market more than 30 days (I call them Stalefish, and that’s where you might – just might – find a “deal”). But mostly, we’re a city still starving for single family homes, and they are literally flying off the shelf. Condos in desirable areas are about the same, but I’m not going there right now.

What does this mean? It means competition is fierce, multiple offers are commonplace, and Overbidding is still not anywhere near done. Have a look at this week’s top 10 Overbids. Keep in mind, this is only the top 10, if you want to see more, follow this link to more recent sales.

Address BR/BA/Units DOM List Price Sold Price Overbid
2662 40th Avenue 4/2.00/N/A 9 $995,000 $1,550,000 55.78%
157 College Avenue 3/1.00/N/A 14 $949,888 $1,450,000 52.65%
1415 11th Avenue 2-4 Units 15 $995,000 $1,500,000 50.75%
1734 27th Avenue 2/1.00/N/A 14 $995,000 $1,480,000 48.74%
439 Greenwich Street 0/1.00/17 7 $488,000 $720,000 47.54%
1090 Page Street 2/1.00/1 7 $899,000 $1,305,000 45.16%
1706 17th Avenue 3/1.50/N/A 10 $1,195,000 $1,715,000 43.51%
1933 Ulloa Street 3/1.00/N/A 13 $949,000 $1,335,000 40.67%
368 17th Avenue 2/1.00/N/A 13 $1,295,000 $1,810,000 39.77%
945 Corbett Avenue 1/1.00/107 7 $699,000 $975,000 39.48%

All of this said, if you’re losing out, I have several listings coming to market, and a couple we’ll sell off market:
Single Family home on Cabrillo at 36th
Single Family home on 46th at Balboa with Ocean Views
Single Family home near Alta Mar in Sutro Heights with Ocean Views
Condo near the Great Highway with Ocean Views
Condo on Frederick in Cole Valley with Valley views
Condo on Page near Upper Haight
Empty lot in Russian Hill ready to build

So…I’ll do my part to get some inventory for you, but in the meantime marvel at those Overbids, have a good weekend, and enjoy this Summer weather!

Happy Aloha Friday

Potrero Hill Masterpiece Asking $1,995,000 – Gets $2,710,000 – Jealous?

Sometimes you’re just too busy to blog, let alone ski and surf, but we all need to stop sometimes and marvel at amazing properties that sell for amazing prices. Take this stunner of a home in Potrero Hill that just recently listed for $1,995,000 (bait) and closed for a whopping $2,710,000…worth every penny.

Send the architects my way, I’m totally jealous. That place is sweet.

As for the top 10 Overbids, here go:

Address BR/BA/Units DOM List Price Sold Price Overbid
36 Marietta Drive 3/2.00/N/A 12 $999,000 $1,513,000 51.45%
441 Wilde Avenue 1/1.00/N/A 12 $399,000 $565,000 41.60%
464 Hoffman Avenue 3/1.00/N/A 8 $995,000 $1,400,000 40.70%
1731 43rd Avenue 3/2.00/N/A 11 $995,000 $1,390,000 39.70%
1330 20th Street 4/2.50/N/A 14 $1,995,000 $2,710,000 35.84%
1600 Treat Avenue 2/2.00/N/A 14 $1,298,000 $1,725,001 32.90%
428 17th Avenue 2/2.00/ 84 $850,000 $1,100,000 29.41%
172 Precita Avenue 4/2.50/N/A 15 $2,295,000 $2,915,000 27.02%
156 Cora Street 3/2.00/N/A 15 $600,000 $760,000 26.67%
3040 25th Avenue 3/2.00/N/A 17 $1,199,000 $1,510,000 25.94%

The San Francisco real estate market is firing on all cylinders, yet again.

Happy Friday! Go ski…

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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$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.

217 Single Family Homes For Sale In San Francisco … Right Now … That’s It

In the past 7 days, there have been only 23 single family homes come on the market in ALL of San Francisco…16 of those homes hit the market today. Total, there are currently only 217 single family homes “active” for sale in ALL of San Francisco, a city of around 865,000 permanent residents.

There are currently 217 people looking for a single family in the Outer Sunset alone!

Chew on that for your weekend commute.

Happy Aloha Friday, here are your top 10 Overbids:

Address BR/BA/Units DOM List Price Sold Price Overbid
436 Valley Street 3/1.00/N/A 12 $1,195,000 $1,821,300 52.41%
387 Silver Avenue 389 2-4 Units 16 $999,000 $1,520,000 52.15%
4388 23rd Street 1/1.00/N/A 7 $749,000 $1,065,000 42.19%
208 Banks Street 2/2.00/N/A 10 $1,195,000 $1,620,000 35.56%
1622 35th Avenue 5/2.00/N/A 13 $1,349,000 $1,825,000 35.29%
771 Teresita 2/1.00/N/A 16 $1,088,000 $1,470,000 35.11%
2 Seal Rock Drive 2/1.00/N/A 12 $895,000 $1,200,000 34.08%
703 San Bruno Avenue 4/2.00/N/A 16 $1,495,000 $2,000,000 33.78%
647 28th Avenue 3/1.50/N/A 17 $899,000 $1,200,000 33.48%
1282 18th Avenue 3/1.50/N/A 4 $1,350,000 $1,800,000 33.33%