Maximum Overbid: Severely Damaged, No Electricity, Not Habitable, But Still Top Dog

You gotta love a market (as a seller) where an agent can use the most eloquent of beautifully descriptive words to sell such a wonderful property, in such immaculate condition and still easily (likely with stacks of offers) get a property sold.

From the marketing:

A complete TEAR-DOWN! Beyond the external frame, this home is severely damaged/charred/burned from a fire last May 2014. No electricity so access is limited to morning hours only. All potential buyers to sign a Hold Harmless Agreement prior to access. Probate sale, no court, no death in prop w/in last 3 years. NOT in habitable condition, this is more than a fixer, it’s a complete tear-down!

171 Bright
171 Bright

Listed for $299,000 (that had to be a record in and of itself), this wonderful Ingleside Heights Home just closed for $485,000.

Hey! Look on the bright side…nobody died in the property…at least “within the last 3 years”, and maybe, just maybe, the city will actually let you tear the whole thing down and start fresh.

As for the rest of the top 10 Overbids, here you go.

Address BR/BA/Units DOM List Price Sold Price Overbid
171 Bright Street 0/1.00/N/A 16 $299,000 $485,000 62.21%
1139 Green Street 1139 2-4 Units 12 $1,299,800 $1,710,000 31.56%
1161 York Street 1163 2-4 Units 27 $1,200,000 $1,560,000 30.00%
1819 26th Avenue 2/1.00/N/A 42 $775,000 $1,000,000 29.03%
39 Bradford Street 2/1.00/N/A 29 $998,000 $1,250,000 25.25%
1455 Oakdale 5/3.00/N/A 47 $759,000 $935,000 23.19%
721 Delano Avenue 1/1.00/N/A 28 $569,000 $700,000 23.02%
111 Harold Avenue 2/1.00/N/A 80 $599,000 $720,000 20.20%
526 34th Avenue 528 2-4 Units 41 $1,920,000 $2,240,000 16.67%
427 Parker Avenue 429 2-4 Units 58 $2,200,000 $2,550,000 15.91%

Happy Friday, and welcome to the new look of my new site. Still a bit of dust and debris laying around, but for the most part, we’re open for business.

“Habitable, but could do with updating” | Maximum Overbid San Francisco

It’s Friday, that can only mean one thing on theFrontSteps…Overbids. This week’s top dog is 620 Victoria in Ingleside Terrace, a 3 bed, 1.5 bath, 1512 square feet single family home listed for $899,000 and sold for $1,300,000, which, according to marketing remarks, is “Habitable, but could do with updating”. That’s $859 per square foot in Ingleside Terrace. Just sayin’:

Address BR/BA/Units DOM List Price Sold Price Overbid
676 Capp Street 3/1.50/N/A 12 $1,300,000 $2,300,000 76.92%
27 Cutler Avenue 3/1.00/N/A 20 $569,000 $880,000 54.66%
1400 35th Avenue 1402 2-4 Units 14 $799,000 $1,220,000 52.69%
2080 14th Avenue 3/1.00/N/A 13 $899,000 $1,302,080 44.84%
620 Victoria Street 3/1.50/N/A 11 $899,000 $1,300,000 44.61%
560 Missouri Street 2/2.50/1 14 $995,000 $1,402,560 40.96%
1651 Treat Avenue 3/1.00/N/A 12 $1,295,000 $1,810,000 39.77%
1257 Noe Street 3/2.00/N/A 11 $1,899,000 $2,653,000 39.71%
1779 8th Avenue 3/1.50/N/A 13 $1,295,000 $1,800,000 39.00%
12 Carson Street 3/2.00/N/A 10 $1,649,000 $2,260,000 37.05%

Why is 620 Victoria the Maximum Overbid and not 676 Capp?’s sort of complicated, but essentially that’s because we (the Goods) automate this top 10 list based off of the properties sold within the past two weeks on MLS, but here on theFrontSteps I run it every week. So if a property closed two weeks ago, and is still a top dog, it will still appear on the top 10 list for this week. We do this because not everyone reads the overbids every week, and not all of our Goods clients send this data to their clients weekly. In addition, on the Goods we run a top 20 list. Here on theFrontSteps I like to see what it takes to get knocked off the list. Make sense?

Another thing to note is many Maximum Overbid winners are fixers, remember this one? Why do you think that is? It’s pretty simple. When you’re faced with marketing a property for sale that could either be totally undesirable (barely livable), or totally in demand (still barely livable but in an epic location, has views, expansion potential, etc.), pricing becomes tricky. So…list low and let the buyers take it to market price, which usually means way over asking. You cannot list too low in San Francisco, but you can definitely list too high.

Don’t miss next week’s Overbid! Subscribe to receive theFrontSteps via email using the form below. And contact me if you’re thinking about selling. I know all the tricks of the trade.

Have a great weekend.

colors, coLORS, COLORS! (85 Cerritos)

We’re not sure what is worse.

The carpet?


The fireplace and matching wall coloring?


Or the oddly shiny, new/modern Washer/Dryer in this antiquy home?


Maybe it is that all three are under the same roof and supposed to go together.

No matter…it went into contract after a couple weeks on the market, so we’re guessing the buyers liked the colors. Not what we would have chosen, but hey, it worked.  And for the record, if we had to choose one, we choose the washer/dryer.

85 Cerritos in Ingleside Terrace, asking $1,100,000, and apparently pretty desirable.