Not Everything In The Avenues Is Selling Over…

Originally listed for $1,299,450, then chopped to $1,249,450 35 days later, 2182 45th Ave finally got it done at $1,130,000 only 114 days after going on the market. That must have seemed like an eternity for the seller.


That’s got to be some sort of record in and of itself in arguably one of the hottest markets in the city (Parkside/Sunset). Regardless, sale closed. Happy buyer, likely relieved seller.

Moral of the story…list with a local, and price it a helluva lot lower.

Think our market is all overbids and sunny weather? Think again, and check the Underbids, and get in touch with a local expert when it’s time for you to sell.

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.

Adolf Sutro Ocean Beach Carriage House Gets Major Facelift And $2.6M Price Tag

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.

For more pictures and details of the 2013 “Before” Property, check it here.

For more information and pictures of the 2017 property currently for sale, check it here.

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%

The Itsy Bitsy Teenie Weenie Million Dollar Beach Bungalow

It’s official…in San Francisco a million bucks barely buys you an (almost on the beach) beach bungalow…actually you need $1,050,000…and depending on what size waves you’re thinking of surfing at the most popular surf spot north of San Diego, you’ll want to consider ultra custom space-saving racks.

In case you’re wondering, it was listed at $699,000. It is close enough to catch the blowing Springtime Sand, so I guess you can call it a “beach bungalow”.

Surf is not up this weekend in San Francisco (Surprise!), but surely you know a friend with a boat. Happy Memorial Day weekend!

Top 20 Overbids, Underbids, and so much more, right here on The Goods.

3434 Rivera, Street, San Francisco [Property Detail Page]

San Francisco Takes Top Honors On Trulia’s Best Neighborhoods List

Living well means something different to everyone.  For some of us, it means indulging in all the luxuries life offers, and to others it means living a healthy, active  lifestyle. Luckily, and why we live here, San Francisco offers both.

Recently the folks over at Trulia shared their perspectives on living well in this Best Neighborhoods post, which coincided with the release of these super handy Live Well maps, and look at that…San Francisco takes top dog for Midsize City, specifically the Sunset District (Spoiler – Sunset is already more expensive than when Trulia wrote this, so get in before it goes more nuts out that way).

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San Francisco actually has two of the top ten “Live Well” neighborhoods (that’d be Excelsior at #7) for mid-sized metropolitan areas (population 1,000,000 to 2,000,000) in the US.

Top Ten Neighborhoods for Living Well

Neighborhood U.S. Metro Live Well Index % Quiet Streets # Play-Centric Amenities Per Square Mile Miles of Trails/Footpaths Per Square Mile # of Care and Essential Amenities Per Square Mile
Outer Sunset San Francisco, CA 93.6 52.5% 2.5 5.0 13.0
West Riverside New Orleans, LA 88.7 55.1% 2.0 1.0 4.9
Crestview Austin, TX 86.3 48.6% 3.9 0.6 6.8
Driftwood Fort Lauderdale, FL 83.2 58.6% 2.2 4.2 1.1
Riverwest Milwaukee, WI 82.5 52.2% 0.7 6.2 2.2
Midtown San Jose, CA 81.4 41.9% 6.6 2.9 10.7
Excelsior San Francisco, CA 81.3 43.1% 4.4 2.2 7.1
Shady Lane Columbus, OH 80.2 50.3% 1.7 0.5 2.5
Roosevelt Redwood City, CA 79.9 58.0% 0.9 0.0 5.5
Emerald Hills Fort Lauderdale, FL 79.9 44.9% 2.3 1.1 4.5

The Outer Sunset, which scored 93.6 on Trulia’s index, is the best neighborhood overall for living well, beating out the large metro neighborhood Ocean Beach in San Diego, CA, which scored 96.0 (Is that OB v. OB?).  The Sunset District of San Francisco, is flanked by three great resources: Ocean Beach to the West, Golden Gate Park to the North, and the University of California, San Francisco Medical Center to the East.  Additionally, well over 50 percent of its streets are considered quiet (unless of course it’s festival season!).  The Outer Sunset offers the added bonus of being one of San Francisco’s more affordable places to buy with a median sales price of $981,000…and climbing.

Excelsior, San Francisco, CA also made the top ten list for mid-sized metros, ranking seventh with a live well score of 81.3 – offering 43.1 percent quiet streets.  Excelsior is nestled just south of Interstate 280 and is east of Outer Mission, Balboa Park, and Mission Terrace.  Its great play-centric amenities include the Louis Sutter Softball Field and Playground in addition to the Philosopher’s Way trail.  Scoring high for care and essentials, this neighborhood is conveniently located near Excelsior Health Services and a multitude of daycare facilities.  Excelsior is by far one of the most reasonably priced neighborhoods in San Francisco with a median sales price of $910,000…and climbing.

If peaceful, active living with great access to exceptional care is what you are looking for in a neighborhood then San Francisco metropolitan area has ample choices for you. If you’d like to learn more about San Francisco’s micro districts, click “Browse theFrontSteps” over there in the right hand column for things we’ve said about most areas of town. Additionally, way back when, I did a Tour de San Francisco, which you might find enlightening.

You could also pick up the phone (or email/text us) and we’d be happy to show you around and find a neighborhood that is right for you. We have many from which to choose, and they’re all pretty awesome.

As for whether Trulia’s statements are accurate, that might be a cause for a new Battle Royale, which we leave up to you to discuss among friends over some tasty California Wine, paired with locally sourced cheese, and possibly oysters…or maybe Dungeness Crab (since they finally lifted the ban.)

Viva San Francisco!

Reasons We Live Here [theFrontSteps]
San Francisco Neighborhoods [theFrontSteps]
Tour de San Francisco [theFrontSteps before theFrontSteps]
Battle Royale [theFrontSteps]

San Francisco Single Family Real Estate Appreciation since 2011

The information below is provided by Paragon Real Estate Group, enjoy:

In the last 5 years, San Francisco real estate market rebounded and went crazy hot, but how much did it really appreciate? Below is a great analysis from Paragon that shows you the data using median sales price. This post is specific to houses, the next post is specific to condominiums appreciation.

Median sales price is a very general statistic, often concealing an enormous variety of values in the underlying individual sales. It can be and often is affected by other factors besides changes in fair market value, such as changes in the inventory available to purchase, and major changes in the distressed property, luxury home, or new home construction segments. Sometimes median prices fluctuate without any great significance: substantially different groups of homes (larger, smaller, older, newer, etc.) simply sold in different periods. Assessing appreciation by changes in dollar per square foot values, instead of by median sales prices, can sometimes deliver significantly different appreciation rates.

Below the charts is a table with a more comprehensive list of San Francisco neighborhoods, and at the bottom of the page is a neighborhood map.

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The neighborhoods on the table below are grouped by San Francisco Realtor District, some of which contain neighborhoods of relatively similar values and some with highly variable home values.

Generally speaking, the higher the number of sales, the more reliable the statistics: We’ve usually calculated appreciation rates for neighborhoods with at least 24 sales in 2015, but these should still be considered very approximate.

An asterisk signifies a very low a number of annual sales and/or our suspicion that the appreciation calculation would not reflect market reality due to the variety of issues pertaining in the area. In 2011, median sales prices in some areas, especially in the southern border neighborhoods of the city, were badly distorted by distressed property sales (bank and short sales) that didn’t represent fair market values. If this situation applies, the 4-year appreciation rate will jump higher in that neighborhood.

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sfmap

As is always the case, if you have any questions about the market don’t hesitate to ask.

If you, or anyone you know, are looking to buy or sell San Francisco real estate, take a look at my track record, happy clients, and generally awesome listings and let’s get you sorted.

Maximum Overbid Of The Week | Embrace The Chaos

This home on 43rd Ave just sold $331,000 over asking, and takes this week’s top spot on the top 10 San Francisco Overbids. But let’s look deeper into what’s going on here.

You might be wondering why I chose the amazing picture of pro surfer Damien Hobgood getting burned by some random guy as this week’s featured image to go with the continually insane overbids San Francisco dishes out. Well…it’s significant in many respects (in my mind anyway, so hear me out).

1. Not only does Ocean Beach occasionally get world class surf (word is out, sorry), but it brings the pain, as does our market to many, many, many buyers continually burned by that other buyer that dropped in on them and “stole” their home. And just like waves, there will always be another home come your way, so bite your lip, regroup, focus, don’t get upset, and get the next one.

2. The Avenues are the hottest part of town right now to be selling a Single Family Home, as it is the last frontier where such a home is still attainable under $1.1M (check the stats). You can find these homes in the Outer Sunset, Outer Parkside, and if you’re lucky, the Outer Richmond districts. Miraloma Park is a hidden gem of bargain homes too, but no beach. For you out of towners, Ocean Beach is where San Francisco officially ends, and Pacific Ocean begins (the “Bay” is not). This is our “beach” neighborhood, which at some point will go back to normal programming of fog for months on end, howling onshore winds, and no hipsters cruising on their penny boards to check the surf, because it will be too damn cold and the bikinis will be all covered up.

3.Who still prices a home like this, in a location like that, at $699,000? Seriously John. Seriously.

4. This sale is $331,000 over the asking price, but really, it was underpriced by at least $100,000, so let’s hope all the marketing that goes out around it doesn’t say “I got my clients $331,000 more than they expected!” We all know it was expected to go over, and I guarantee if they only got one offer at $699,000 they never would have sold it. At 1200 square feet, or $807/psft, some might even argue it is a steal.

5. The photo caption on the Surfing Magazine article sums it up best with what people THINK is happening in San Francisco real estate, “A quick reminder that the surfer closest to the peak of the wave, or in the barrel, has the right of way. Damien Hobgood and some tech nerd“. Don’t get me wrong, that’s a great caption and it’s definitely evident in the water, but it’s not just the techies with all the cash. I’ve been telling my clients and readers this for years. There is an insane amount of money from all walks of life in this city and greater Bay Area. It’s easy to point the finger at one group and make assumptions, but I guarantee you, your assumptions about the techies and our real estate market are wrong.

And before you go blaming the techies for your lack of wave domination, or missing out on your dream home, reconsider that GoPro strapped to your board, the Uber you just took to work, that baby picture you just HAD to share on Instagram, and all the other tech channels you can’t live without whether you’ve been living here 40 years, or 4. The city is a changing. Embrace the Chaos.

[Song: Pa Lante by Ozomatli; Album: Embrace the Chaos…turn it up!]

With all of that said, the Top 10:

Address BR/BA/Units DOM List Price Sold Price Overbid
2471 43rd Avenue 2/1.00/N/A 19 $699,000 $1,030,000 47.35%
1650 Florida Street 3/1.00/ 42 $695,000 $970,000 39.57%
1099 23rd Street 1/1.50/1 20 $599,000 $801,000 33.72%
136 Seville Street 2/1.00/N/A 33 $699,000 $890,000 27.32%
2769 Union Street 3/2.00/ 13 $2,499,000 $3,130,000 25.25%
4500 California Street 2/2.00/ 38 $980,000 $1,210,000 23.47%
164 Parker Avenue 2/1.00/B 31 $995,000 $1,210,000 21.61%
681 Panorama Drive 3/2.00/N/A 28 $999,000 $1,204,000 20.52%
204 Anderson Street 2/2.00/N/A 13 $1,189,000 $1,425,500 19.89%
2270 9th Avenue 4/3.50/N/A 8 $1,795,000 $2,150,000 19.78%

Have a great weekend! Looking to buy or sell Bay Area Real Estate? Look no further, and give me a shout.

Image Source for Surfers [Surfing Magazine]

Maximum Overbids Of the Week | $625,000 Over In Noe Valley | 291 Square Foot Studio Sells For $415,000

And the winner is…682 Duncan for a mere $625,000 over asking, and just shy of $1600 per square foot:
682 Duncan

Address BR/BA/Units DOM List Price Sold Price Overbid
682 Duncan Street 3/2.00/N/A 12 $1,050,000 $1,675,000 59.52%
430 Nevada Street 2/1.00/N/A 27 $699,000 $1,065,000 52.36%
1520 15th Street 2/1.00/N/A 22 $799,000 $1,175,000 47.06%
2219 25th Avenue 2/1.00/N/A 13 $949,000 $1,380,000 45.42%
850 35th Avenue 2/1.50/N/A 38 $950,000 $1,380,000 45.26%
1994 45th Avenue 3/2.00/N/A 28 $799,000 $1,130,000 41.43%
195 7th Street 0/1.00/306 38 $299,000 $415,000 38.80%
1257 Union Street 2/1.00/ 12 $1,195,000 $1,650,000 38.08%
1269 27th Avenue 3/2.00/N/A 19 $1,108,000 $1,510,000 36.28%
136 Bradford Street 4/2.00/N/A 43 $899,000 $1,225,000 36.26%

Did you notice that little (291 square feet) sale for $415,000 at 195 7th Street?

As many of you know, I’ve been doing this Maximum Overbid feature for about 12 years running, maybe more. It started on sfnewsletter…it actually started sfnewsletter. Then I started posting the Maximum Overbids here, sometimes regularly, sometimes not. As much as these stats are great information, and surely get you scratching your head, they are not an indication of the market as a whole, and I know that very well. That is why I share not only the top 20 Overbids, but also Underbids, as well as properties still on the market more than 30 days. I share new listings of the past two weeks, as well as recent sales…not just overbids. I share this awesome information via The Goods. And in case you haven’t noticed, I share a sh*t ton of other data too.

I do all of this so you, the buyer, the seller, the renter, the owner, the neighbor, the landlord, the whatever you are, can educate yourself on properties and activity in your area. I’ve always felt it is important for you to know as much, or more than me about the market. If you appreciate this information, I encourage you to contact me when you, or anyone you know, are ready to buy or sell real estate. I encourage you to sign up for sfnewsletter, and I encourage you to follow this blog via email (opt-in form is below).

I am an expert at marketing property to get top dollar, and an expert at getting offers accepted for buyers, and I’d love to work with you. I’m no good at juggling and basketball, so don’t ask me to help you with that.

Have a great weekend!

Alex Clark
Paragon Real Estate Group
alexclark@gmail.com
415-254-5351

Stalefish: You Won’t Believe Your Eyes

There is a little something in our market, of which many buyers are not aware, and many agents overlook. I have long referred to them as “Stalefish“, but others refer to them as “buying opportunity” or “still available property”, or what we named (on theGoods) as the “30+ Club”. What are these, you ask?

They are, quite simply, properties on the market more than 30 days, and darnit if there aren’t quite a few gems out there that I’d love you to buy.

Getting beat up in Noe Valley? Check out 469 Valley:
469valley
This is a 3220 square foot remodeled view home in Noe Valley…and it’s still available! Deck, garden, master suite, it has it all. Listed at $2,989,000.

Not your cup of tea? Check out 27-29 Fountain, also in Noe Valley:
27Fountain
Previously listed at $2,900,000, this detached Victorian with 4 bedrooms, booming views, decks, parking, yard, and a great location is now $2,600,000! You just saved $300,000. Opportunity knocking right here.

Maybe you don’t like Noe, and you’d rather be in Cole Valley – sorry, nada. But keep checking!

You think Pacific Heights never has anything for you? Think again. This absolutely stunning home at 2701 Broadway is still there:
SONY DSC

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“Comprised of five levels encompassing over 16,000 square feet the home includes 7 bedrooms, 7 full baths, and 4 half-baths, plus 2 kitchens, 2 family rooms, 2 offices, 3 rooftop terraces, a basketball/sport court, plus a multitude of rooms for today’s active lifestyle. 2 car garage,” and a bargain price of $39,000,000.

Okay, so maybe $39,000,000 is a bit more than you can handle, and you really don’t like basketball anyway. Maybe surfing is more your thing? Well…you’re in luck. It just so happens this little fish at 2307 40th Ave is still there:
230740thAVe
It’s “beautifully remodeled and updated”, close to the beach, and other “neighborhood conveniences like Walgreens” (huh?), and from what I can tell, very ready to be sold.

So if you’re getting beat out by the hordes of buyers all over the hot new listings, and you have possibly overlooked those homes that weren’t exactly perfect, you might like to give this list another glance. And if you’re an agent, you might like to send this invaluable information to your clients (branded to you, or course).

Whether you call ’em Stalefish, or otherwise, no matter how you slice it, there is opportunity out there in many shapes, sizes, and prices. Prices which, at this point, could be very negotiable.

Time to go fishing!

p.s. Wondering about the home with all the marble columns? It’s available too: 3800 Washington, $17,995,000, and it’s frickin amazing!

Stalefish, 30+ Club, Buying Opportunity: Find it all here
Battle Royale: Cole Valley Versus Noe Valley [theFrontSteps]

[Big Ass Disclaimer: Every property in this post and on the Goods 30+Club is listed as “active” on MLS. All information is deemed to be accurate, but not guaranteed.]