From Overbids To Underbids, What’s Our Market Going To Do?

Remember this NOPA multi-unit that went from $1.6M to $822k? Check out this 50% ownership in a Cole Valley 4 unit Victorian that just sold for 13% under asking after being on market for 51 days. In case you didn’t get that…that’s a two unit purchase into a 4 unit building, which you will own in tandem with the person that previously owned the whole thing (yet another reason to own property in San Francisco…you can slice/dice and still get it sold!)

As for the rest of the top 10 Underbids, here you go:

Address BR/BA/Units List Price Sold Price Underbid
117-119 Downey Street 2-4 Units $1,350,000 $1,175,000 -13 %
16 Knott Court 3/3/2 $949,000 $832,500 -12 %
350 Lansdale Avenue 3/3/2 $1,595,000 $1,439,800 -10 %
252 9th Street #403 2/1/0 $859,000 $785,000 -9 %
77 Amber Drive 4/3.5/2 $1,999,000 $1,840,000 -8 %
964 Central Avenue 2-4 Units $1,845,000 $1,700,000 -8 %
2040 Fell #12 2/1/1 $935,000 $872,500 -7 %
643 Greenwich Street 5/4.5/3 $4,250,000 $4,000,000 -6 %
1816 Castro Street 2/1/2 $899,000 $850,000 -5 %
650 Turk Street 0/1/1 $549,000 $525,000 -4 %

As for the market…that’s anybody’s guess at this stage. My listings flew off the shelf (I will definitely take credit for that), while others languish. Super Bowl hype is finally over, listings are hitting the market, so now we get to see what will happen.

If the market shifts it will still be a tremendous time to sell your property, as well as finally a great time to buy. We are experts at helping you do both. Just give us a shout.

Dining Room before...

Before & After On A Noe Valley/Glen Park Victorian

There is always a lot of talk around town about how “easy” it is to sell a property in San Francisco, and that all we (Realtors) have to do is sign up a listing, put a sign out front, and the hordes of buyers will come marching through the door, offer oodles over asking, beg to buy the property, offer up their children as security deposit, and seller sells it for a mint.

Not so, and to prove you need us (particularly theFrontSteps) to market your property for sale in San Francisco, I’d like to share some “before & after” shots of recent property transformations.

Screen Shot 2016-01-18 at 12.44.47 PM

Underbids All Over The Map | San Francisco

Did you miss the Top 10 Overbids last week? Don’t worry, SFGate has em posted, but since it’s Monday (well it was yesterday), we like to bring you the weekly top 10 Underbids. Sounds like SFGate might recap them there too, so keep your eyes peeled.

The top dogs are a variety this time around. Locations are spread out – Western Addition, Bayview, Nob hill, Telegraph Hill, Marina, Pacific Heights, Inner Mission, Cow Hollow, and Noe Valley. Sizes range from a 232 square foot micro studio condo, which sold for $390,000 (don’t get too excited, that’s nearly $1700/sqft), to a 5590 square foot 5 bedroom mansion, which sold for only $1500/sqft (don’t get too excited here either, that’s $8.4M). There’s even a commercial unit in the mix, that fetched “only” $430/sqft (we ain’t talking apples to apples to the above.)

Just goes to show, in real estate, particularly in San Francisco it’s all about location, location, location…and pricing, marketing, presentation, and timing.

Regardless, have a great work week. Enjoy the top 10, stay dry, and pray for more rain/snow.

Address BR/BA/Units List Price Sold Price Underbid
1406 Golden Gate Avenue 3/2/0 $1,399,000 $1,200,000 -14.22 %
1311-1313 Palou 2-4 Units $995,000 $875,000 -12.06 %
1300 Pacific Avenue 0/2/0 $468,000 $425,000 -9.19 %
412 Green Street #A 0/1/0 $425,000 $390,000 -8.24 %
3315 Pierce Street 3/3.5/3 $2,699,000 $2,500,000 -7.37 %
2470 Broadway 5/4.5/2 $6,995,000 $6,500,000 -7.08 %
1326 Utah Street 2-4 Units $1,289,000 $1,200,000 -6.90 %
33 Perine Place 2/2/1 $1,500,000 $1,400,000 -6.67 %
2828 Divisadero Street 5/5.5/2 $8,995,000 $8,400,000 -6.61 %
425 28th Street 3/2/1 $1,695,000 $1,588,888 -6.26 %

theFrontSteps Overbids on SFGate [SF Gate, San Francisco Chronicle Online]


SOLD | $2,257,000 | 1793 Sanchez, Noe Valley / Glen Park Victorian

I’m pleased to say, I have successfully represented the sellers in the sale of their wonderful property at 1793 Sanchez. In the end the road was a little longer than we expected, but we got there. Congratulations to my clients, and the buyers who are incredibly thrilled they were able to beat out seven others to get the keys.

My clients were also kind enough to share a testimonial:

We had an outstanding experience with Alex Clark listing and selling our Noe Valley / Glen Park Victorian. He is highly knowledgable, extremely patient and most importantly endowed with great instincts about how to handle the complex and challenging real estate market of San Francisco. I would recommend him without hesitation.

You can find the property detail page for the home right here. Listed for $1,795,000, sold for $2,257,000, 1793 Sanchez is a large Single Family with Garden Apartment.


A little bit more About Me
Some of my Recent Transactions
Some Testimonials

1793 Sanchez Fireplace/mantle

For Sale | 1793 Sanchez St. | Glen Park

Located on one of the best streets in the Fairmount Heights area of Glen Park, and on the Southern edge of Noe Valley, 1793 Sanchez is on the market and you, my dear readers, get the first look inside.

1793 Sanchez Gallery
[Click image for high resolution]

1793 Sanchez Features
Originally built in 1887 (says the plaque on the front of the house), this Victorian is not what you’d expect when looking from the street. A modest staircase leads to a grand home with amazing period details, booming city views, indoor/outdoor living, and a tremendous amount of entertaining space.

Enter the home and be taken away by the old-world charm of the formal living room, which leads to a formal dining room, both rooms which have retained their original character and charm. A small bedroom or office is located on this level just off the dining area, which enters into a designer chef’s kitchen complete with marble countertops, Viking gas range, bar seating and an open living/entertaining room, which opens to a large deck overlooking Noe Valley and the San Francisco downtown skyline. A built-in gas barbecue is standing by the ready as well as either a sun shade for those amazing sunny days, or heat lamp for the cool SF nights.

Upstairs you’ll find a master suite with amazing downtown views, recycled wood floors, a master bath, fireplace, walk in closet, as well as an additional room perfect for a small child, office, or your collection of Manolos. From the master suite you can open the doors wide to a private balcony and take in the morning sun or keep the blackout shades drawn to sleep the day away in total darkness.

On the lowest level of the home you’ll be delighted to find a large bedroom, laundry room, washer & dryer, bathroom, and exceptionally large closet perfect for wine cellar or craft beer collection.

The legal 1 bedroom, 1 bath garden apartment is accessible via the breezeway and has wonderful wood floors, fireplace, W&D, designer lighting, a cute private patio/deck area, and wonderful views out to the impeccably maintained garden oasis with fresh lawn, budding flowers, automatic watering system (drought friendly), and a trickling fountain to soothe the soul. What you do with this garden apartment is up to you, but it’s ideal for additional income, friends and family, or should you be so lucky to have an Aupair, he/she would certainly not complain about living here.

Presented by:
Alexander Clark
Paragon Real Estate Group

Showing schedule
Saturday 9/12 1-4pm Open House
Sunday 9/13 1-4pm Open House
Tuesday 9/15 12-1:30 Broker Tour (Public Welcome)
Thursday 9/17 5:30-7:30pm Twilight Open House
Saturday 9/19 1-4pm Open House
Sunday 9/20 1-4pm Open House
Offer Date: Monday 9/21 @ 12 noon.

In case you’re in a fog at how wonderful this property is…

1793 Sanchez Details
List Price $1,795,000 | Single Family Home w/ Legal Garden Apartment
Main House:
Victorian Details
3+ Bedrooms
3 bathrooms
SF Skyline Views
Wood Floors
Chef’s Kitchen
Viking Range
Marble Countertops
Formal dining room
Formal living room
3 fireplaces
2 decks/balconies
Outdoor heat lamp
Deck awning
Master Suite on top level w/ Amazing views
Laundry Room
Direct yard access

1793 A Sanchez Garden Apartment:
1 bedroom
1 bath (shower)
1 Fireplace
Wood floors
Open Living Area
Direct yard access

MLS Listing Detail Page

The preparation of this home was featured prominently in the Business Section of the San Francisco Chronicle.

Follow @theFrontSteps on social media or subscribe to theFrontSteps via email, and never miss a beat of San Francisco Real Estate.

When is the best time of year to buy or sell a home [San Francisco Chronicle]
Listings Showcased [theFrontSteps]
For Sellers [theFrontSteps]

682 Duncan

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