20 Offers But Only 1 Winner | 2527 42nd Ave Finds A Buyer | Outer Parkside | $1,646,000

It was a battle to get this one at 2527 42nd Ave, that’s for sure. With 20 offers on hand for the sellers to choose from, at least 5 of them over $1,600,000 (list price $1,095,000), and me putting this deal together during one of the best snowstorms of the last 10 years (I’m that guy on the lift on his phone, fingers freezing, when it’s DUMPING two inches an hour and cell reception is popping in and out.), I’d have to say I’m tremendously pleased with the outcome, and my clients are thrilled.

They scored a rare gem in the Sunset/Parkside…a three bed, two bath, and two car side by side garage home with what we call a “reverse floorplan” and booming 180 degree views out to the edge of the Earth. Bleary eyed surf checks just got a little easier for these guys, there is yard a plenty for the little rascal, and I’m bribing them for my own personal surf cam on the roof.

Congratulations to everyone involved. What a great home that’s about to get a lot greater. And congratulations to every future seller in the Avenues as the bar keeps getting raised with each astronomical close. If you’re worried about buyers drying up, I’d say your fears are not valid.

2527 42nd Ave, Outer Parkside, $1,646,000 Buyer Representation

If you’re thinking about selling a home right now, give me a shout, I’m an expert at selling them too.

$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.

#Innovation

Just when you thought you’d seen it all…4340 Ulloa comes out with the floating stove/island/counter thingy with gas line kinda hidden going into the floor…and the little white mystery box comes with.


Guess you’ll have to go see it to suss it out, and get design ideas. I mean hey! Figure out the gas line and the floating stove will be all the rage.

4340 Ulloa, For Sale, $879,000 [theGoods]

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.

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]

Maximum Overbid Of The Week | Welcome To The Mission | Kitchen & Bath Not Included

From the Outer Richmond last week, to the heart of the Sunset this week, the Western edge of San Francisco continues to take top honors on the Overbid list.

Perhaps a little less baffling than last week’s, and also a case of clearly underpricing a property, this little gem at 2724 Ortega just fetched nearly 40% more than asking ($849,000 to $1,135,000). To be perfectly honest, it sold exactly at a reasonable price, so there is not much of a story on this one, buuuttt…

Have a look at 1315 Minna, which took second fiddle, in the oh-so hip and happening Inner Mission District..definitely a kitchen suitable for Easter Brunch, or Thanksgiving Dinner.


From $999,000 to $1,328,000…. our friends around the world are collectively shaking their heads in disbelief. As for us, it’s all too familiar.

Top 10 Maximum Overbids Of the Week | San Francisco

Address BR/BA/Units DOM List Price Sold Price Overbid
2724 Ortega Street 3/2.00/N/A 14 $849,000 $1,135,000 33.69%
1315 Minna Street 2/1.00/N/A 21 $999,000 $1,328,000 32.93%
635 38th Avenue 3/3.00/N/A 13 $1,495,000 $1,915,000 28.09%
6 Berkeley Way 4/3.50/N/A 15 $1,298,000 $1,650,000 27.12%
3392 16th Street 2/1.25/ 12 $995,000 $1,245,000 25.13%
73 Naples Street 3/2.00/N/A 12 $749,000 $927,000 23.77%
1045 Church Street 3/1.00/N/A 19 $1,799,000 $2,225,000 23.68%
1039 Treat Avenue 2/1.00/ 4 $1,099,000 $1,350,000 22.84%
2679 43rd Avenue 3/1.00/N/A 9 $749,000 $920,000 22.83%
1056 Cole Street 3/1.00/ 13 $1,095,000 $1,310,000 19.63%

For information about any of the sales you see above, about San Francisco, or our market, have a look around the site..it’s loaded with great information. Better yet, give us a shout and we’ll get you sorted.

Have a great weekend!

March Madness Starts Early In San Francisco | Overbids That Will Make You Freak

On this rainy March Friday as you sit and wonder about the world outside, what better than some jaw-dropping Overbids to rattle your mental cage.
4027clementLR
Top of the list this week is 4027 Clement Street, a very awesome little house in the Outer Richmond with a certain “je ne sais quoi” that took it next level overbidding madness (when someone loves it, they love it), and as a result it sold for 63% over asking at $1,625,000 from a $998,000 list price…that’s $627,000 above for all of you math challenged individuals or non-residents of San Francisco that find that kind of math simply absurd (it is, really). Rumor has it 17 offers came in (that leaves 16 buyers still looking for something like this if you have something to sell), but it was that one person that just had to have it, and that’s often the case.

Speaking of buyers that “had to have it”, I thought the recent listing I just closed in Cole Valley at 179 Carl that sold for $505,000 over would at least make the top 10…alas, it didn’t even make the top 20. Chew on that for a little while…

Top 10 Overbids of the Week, San Francisco:

Address BR/BA/Units DOM List Price Sold Price Overbid
4027 Clement Street 3/2.00/N/A 8 $998,000 $1,625,000 62.83%
2055 20th Avenue 2/1.00/N/A 16 $598,888 $952,000 58.96%
3373 22nd Street 4/3.50/N/A 8 $2,450,000 $3,475,000 41.84%
1115 Rivera Street 4/2.00/N/A 7 $995,000 $1,380,000 38.69%
2234 38th Avenue 3/1.00/N/A 35 $849,000 $1,150,000 35.45%
479 Texas Street 2/2.00/1 9 $1,049,000 $1,385,000 32.03%
832 Page Street 2/1.00/ 12 $1,050,000 $1,377,500 31.19%
115 Dalewood Way 3/2.00/N/A 7 $1,195,000 $1,550,000 29.71%
2075 Sutter Street 2/2.00/215 14 $995,000 $1,275,000 28.14%
271 27th Street 2/1.00/ 7 $1,050,000 $1,300,000 23.81%

There you have it, March Madness and overbids that will make you freak. The market is cooling, for sure ;-)

Have a great weekend, we’re here to help you buy or sell when the time is right.

[Editor’s Note: Overbids are calculated on a percentage basis, not dollars over.]

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]

Mission To Millennium | SF’s Top 10 Underbids of the Week

The top underbid of the week goes to an Outer Mission single family home that (dare we say) needs a bit of work. Listed for $699,000 and sold for $575,000 after 62 days on the market. According to our data from last week, single family homes continue to take up the majority of the top 10 underbid slots: 50% single family homes, 30% multi-units, and 20% condo.

As we get into the winter months, we are seeing luxury homes cooling down but affordable homes remaining competitive. One other notable Underbid is this wonderful Millennium Tower residence with million dollar water and landmark views on both sides of the Bay. Listed at $4.588M and sold for $4.18M after 122 days. Still a win, IMO.

As for the rest, here you go:

Address BR/BA/Units List Price Sold Price Underbid
2220 Cayuga Avenue 1/1/1 $699,000 $575,000 -17.74 %
161-165 Cook Street 2-4 Units $2,395,000 $2,150,000 -10.23 %
2287 16th Avenue 4/2/2 $1,388,000 $1,250,000 -9.94 %
18 Kronquist Court 4/2/1 $1,899,000 $1,725,000 -9.16 %
301 Mission Street #49D 2/3/2 $4,588,000 $4,180,000 -8.89 %
78 Gladys Street 3/2/0 $1,195,000 $1,100,000 -7.95 %
1437 47th Avenue 1437A 2-4 Units $1,275,000 $1,175,000 -7.84 %
2829 Pierce Street 2831 2-4 Units $2,970,000 $2,750,000 -7.41 %
3260 Baker Street 3/2/2 $2,999,000 $2,800,000 -6.64 %
2040 Franklin Street #506 0/1/1 $575,000 $540,000 -6.09 %

As is always the case, if you have any questions about the market, your home, homes in your area, or real estate referrals around the world, I am here to help. Just give me a shout by choosing any of the “contact” options all over this site.