To say my clients didn’t absolutely score on this home is possibly the understatement of the year. When every house in the Parkside and Sunset is selling with multiple offers and at ridiculous prices, to be able to get in contract on one the day it hit MLS for well under market value in San Francisco is amazing…but we did it. I knew the “perfect storm” would come along, and it did. With a little luck, and a lot of persuasion, good things can happen to buyers in our market.
Setting records in the Outer Richmond and throwing all the lucky 7’s on it: Listed $1,195,000 sold for $1,547,777
We got over 250 people through the door via our stellar marketing and online presence. In the end we handed out just about 30 disclosure packages (generally this is a gauge of potential “real” buyers), and ended up with 10 offers. All of them way over list, and even one higher than the sales price the sellers decided not to accept. Story on that in a coming soon blog post.
It’s that lucky green grass…
San Francisco’s Top 10 Overbids Week Ending 3/17/17
|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.
For those of you folks that rarely venture to the Outer Lands…and I’m not talking about the restaurant, if you take a trip down the Lower Great Highway, you may have at one point seen this home:
You may have also wondered what it looked like inside:
And you may have thought, “Meh…wonder what hippie, stoner, surfer lives in that pad?”
As it turns out, we don’t know who occupied it then, but we do know way back in the day it was a carriage house for none other than Adolf Sutro…so maybe it wasn’t a hippie stoner surfer living there.
Fast forward from the last sale in 2013 when it looked like that (and sold for $1,050,000), to now…an Ocean Beach marvel of engineering, architecture and full blown rich-hippie-surfer-tech dude-lumbersexual-beard sporting awesomeness (complete with outdoor hot water shower post bone-chilling Ocean Beach splash…can’t find the axe and chopping block to go with the Flannel though), and behold the new and improved 1744 Great Highway (and $2,595,000 price tag):
It’s a gem, to say the least. One of a kind certainly comes to mind, and something you, my dear reader, should buy. A sale at this price would certainly set some more Ocean Beach records, and why not, it is one of a kind after all.
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!
My friends over at Redfin just did a great report ranking the top 10 Cities to live without a car, and guess what…San Francisco wins. They asked me to share it with you, so here you go:
What makes a city livable? People have differing views, but for many city-dwellers, proximity to restaurants, grocery stores, parks and jobs are some of the key perks of urban living, especially if those destinations are accessible without a car. According to recent Redfin research, the construction of parking spaces for residential properties is starting to wane, as is the number of families who own two cars. And as traffic concerns and commute times rise across the country, many people are opting out of car ownership entirely.
Redfin compiled the latest Walk Score rankings to see which U.S. cities with populations greater than 300,000 have the highest composite Walk Score, Transit Score and Bike Score rankings. These are places where you could forgo having a car and still be able to get around town in a variety of ways, whether it be by foot, bike or public transit. And while not all cities are created equal, each of these 10 cities has infrastructure to support a car-free lifestyle.
Even though San Francisco takes second place in every category (walking, biking and transit) the overall score is the highest in the nation. This isn’t a surprise. It’s true that most people in San Francisco don’t own cars. Nearly every neighborhood in San Francisco is walkable and the BART and MUNI can basically get you anywhere you need to go. Getting a parking spot with your home will add to the price significantly, and getting around town in your car will drive you nuts…so you might as well just go without. Being able to walk, bike, cable car, or bus to work, dinner, or to get groceries is a privilege we should all embrace.
2. New York
New York has the highest Walk Score and Transit Score rankings in the nation. Its Bike Score, on the other hand, falls to seventh place. “Even with the bike-share programs accelerating across the city, many streets don’t have special bike lanes and traffic is a deterrent for many people who might otherwise consider biking,” said Redfin agent Jonathan Makolondra. “That said, New Yorkers are certainly accustomed to getting around the city and surrounding boroughs without a car. The MTA subway system is extensive and walking is a great way to take in the sights and sounds of the city.”
It turns out that Boston is a great city for every mode of transportation that doesn’t involve a car. The city ranks third in the nation for Bike,Transit and Walk Score. “In general, Boston is just a really easy city to get around without a car,” said Redfin agent Megan McShane. “In addition to being known as ‘America’s Walking City,’ the T provides access to all the most popular neighborhoods via subway, bus, trolley and boat, and the commuter rail services the outlying suburbs.”
With a Transit Score of 70, D.C has the fourth highest Transit Score in the nation. “The METRO provides a lot of routes into the city from various suburbs and within the city there are also plentiful bus routes,” said Redfin agent Dan Galloway. “Biking is really on the rise too. Capital Bikeshare now has 400 stations across the city and more bike lanes and routes have been popping up. The city also has plenty of walkable neighborhoods like Dupont Circle, Georgetown and Downtown/Chinatown.”
Philadelphia has the fourth highest Walk Score in the nation and it turns out that it’s becoming more walkable as builders focus on creating walkable new construction throughout the city. “Redfin agents have noticed that a lot of walkable homes are being built in neighborhoods like Northern Liberties, Fishtown, Frankford, South Philly and Point Breeze,” said Redfin agent Tom Lewis. “In addition to great walkability, the city offers plenty of public transportation options as well. Philly is also known as one of the top cities in the nation for bike commuters.”
“Especially if you live in neighborhoods close to the Loop, a car isn’t necessary in Chicago. Lincoln Park, River North, the South Loop – they’re all worlds unto their own, where you can walk to everything you need,” said Redfin agent Jenn Kim. “Should you want to get out of your neighborhood, the El is a great option, plus the city’s invested a lot in its biking infrastructure. In the summer, the Divvy bike-share program is popular, and it’s not uncommon to see large groups of people cycling home via Milwaukee Avenue during the evening commute.”
“Last year Minneapolis was the only U.S. city on a worldwide list of bike-friendly cities. Mayor Betsy Hodges’ administration has emphasized building more protected bikeways to traverse town, and there’s always the old favorites like the Chain of Lakes trails and the Midtown greenway,” said Redfin agent James Garry. “Add to that a growing light rail system, on-time buses and vibrant neighborhoods like Uptown and Dinkytown, where you can walk to everything you need, and it should be no surprise to see Minneapolis on this list.”
“Even though Miami ranks high for walkability with a Walk Score of 78, its Bike and Transit Scores leave a little more to be desired. With a Bike Score of 60, two wheels probably won’t take the place of four wheels any time soon, but that said, there are neighborhoods like Downtown and Little Havana where cycling is a viable transportation option,” said Redfin agent Cecilia Cordova. “If you’d prefer to get around town via public transit, there are several options including the Metrorail that runs from West to South Miami crossing through Downtown.”
“The expansion of the light rail up to Capitol Hill and the University District and the recently approved light rail extension plan indicate that Seattle’s Transit Score could be improving within the next year or two, potentially making Seattle an even friendlier city for those who’d like a car-free commute or lifestyle,” said Redfin agent Kyle Moss. “The bus system also offers great options for commuters and travelers alike, and neighborhoods like Capitol Hill, Belltown and Madison Park are really fun, lively places to walk around. For those who love to bike, Seattle also has some fantastic bike trails, many of them scenic like the Burke-Gilman.”
“Oakland doesn’t fall short when it comes to public transportation,” said Redfin agent Mia Simon. “The BART and A C Transit are both good options for navigating the city. In addition, the Trans-Bay express bus just makes a few stops and then heads directly to San Francisco. There’s also a ferry from Jack London Square if you prefer traveling by water. Neighborhoods like Rockridge and Uptown, Lake Merrit/Grand are all super walkable. There are also 13 neighborhoods with a Bike Score above 90, making them a biker’s paradise!”
As I sit here on a short lived break from showing my incredibly popular Outer Richmond listing, and consoling my buyers, who just lost out on 2319 47th Ave to an (apparently) $1,200,000 pre-emptive offer, I got to wondering…what’s it take to be the Maximum Overbid these days.
Apparently, all it takes is some plywood in the windows, and the most attractive of descriptions:
This home has no electricity and needs major work. All cash sale needed due to condition of property. No electrical…
There is a lot of talk of the San Francisco market having cooled. Maybe in some parts of town, but definitely not the Outer Avenues, and other parts of town where you can still get a single family under $1.5M. Buy those single family homes, charming condos, and well located multi-unit buildings while you can, because if the recent sales in San Francisco featured on The Goods are any indication, San Francisco is still firing on all cylinders.
Have a great weekend. Skiing should be very nice. Surf…not so much. In SF anyway.
Alex has represented our family in three deals in purchasing and selling property in San Francisco.
All has gone flawlessly. He is very communicative, timely, thorough and we always felt that he was looking out for our best interests. We would highly recommend him to help you on either end of a real estate transaction.
Thank you guys for the great testimonial and incredible teamwork, patience, and persistence to get through to the finish line.
Aprés beers at the base of the mountain are on me…now that it’s snowing again!
To see more testimonials, check theFrontSteps’ testimonial page.
I’m pleased to announce the successful (off market) sale of 2117 Larkin in the quintessential San Francisco neighborhood, Russian Hill. This property is a top floor, one bedroom, one bathroom condominium with one car parking, hardwood floors, gas fireplace, high ceilings, and a large open floor plan great for entertaining.
We don’t have any pictures of it, as we sold it by way of my affiliation with Top Agent Network, and saved the sellers a mountain of renovations required to get it up to its full potential. In then end, we showed it to about eight parties, received multiple offers, and sold for a very handsome $1,025,000, which put it well over $1000 per square foot.
Congratulations to my clients, the sellers, as well as the buyer who surely got a great deal in an amazing location with little competition. A win, win, win, win.
If you are considering a sale of your property, there are many ways to skin that cat, so give us a shout if you’d like to discuss.