572 Funston

Real Estate Porn For The People…

Who came down with a heavy case of the Mondays…and Tuesdays, Wednesdays, Thursdays, and Fridays? I did. Right here.


I know you all want the great real estate porn that got you on this site in the first place, but I’ve been busy, so I figured I’d make your life, and my life, easier…here you go: Check out The Goods, it’s all new, super sleek, works great on your mobile device, and has all of the same great data you’ve come to love (minus my snarky comments).

Want Top 20 Overbids…all there, all the time. Start to notice things like 135 Webster, finally dethroned by 572 Funston.

Want Top 20 Underbids…got those too. Marvel at places like (239 Arletta in Visitacion Valley, which sold for 20% BELOW list…wait for it…at $480,000 to clinch top spot on the Underbids. That’s a $600,000 home selling for $480,000 and the address on the post card to mom will read “San Francisco, CA”.

Looking for Hot New Listings. Gotcha covered there too. No need to wait for me to tell you about what just hit the market in your ‘hood. Grab properties like 164 Belvedere (drooling) and immediately share with your friends to plan your dinner parties when they buy it!

The Holy Grail…Recent Sales…got those too. I was the first in San Francisco to provide this valuable data to my clients on a regular basis, so why should I stop. Such an easy way to track what’s going on in your ‘hood without my annoying phone calls, texts, and emails to remind you how much you love me.

My buyers’ favorite…Stalefish…had to tone this down for the masses and call em 30+, but this is my site, and dammit if I don’t like calling them Stalefish better. A Stalefish is a property 30 DOM* or More…and would you believe 149 29th St is BOM*. For the record just cuz it’s Stale, doesn’t mean it stinks!

So there you have it. Now you don’t need me to update you as often. You want the Goods, you get the Goods. Spread the word.

Fellow agents…we are now offering my service of The Goods to you…your branding, your look, your site…update your people with the same great data. Contact us at info@thegoods-sf.com or nate@thegoods-sf.com to get your pages set up and start sharing this wonderful real estate market information with your people.

*BOM = Back On Market
*DOM = Days On Market
*Duh!

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Hey Overbids!

The overbids are still there, it’s myself who has been a bit absent. Hey! It’s Summer, so why not.

Top 10 Overbids for San Francisco:

Address BR/BA/Units DOM List Price Sold Price Overbid
792 Capp Street 3/1.00/N/A 13 $995,000 $1,450,000 45.73%
154 Bonview Street 1/1.00/N/A 9 $799,000 $1,150,000 43.93%
113 Newman Street 2/1.00/N/A 9 $889,000 $1,250,000 40.61%
2330 Sloat Boulevard 5/3.00/N/A 23 $995,000 $1,380,000 38.69%
1375 32nd Avenue 2/1.00/N/A 32 $950,000 $1,280,000 34.74%
1728 Ortega Street 3/2.00/N/A 16 $1,095,000 $1,458,000 33.15%
850 Treat Avenue 2/1.00/ 10 $999,000 $1,300,000 30.13%
23 Roscoe Street 1/1.00/N/A 27 $695,000 $890,000 28.06%
4228 24th Street 2/2.00/ 15 $1,299,000 $1,650,000 27.02%
1856 28th Avenue 3/1.00/N/A 25 $975,000 $1,238,000 26.97%

For more Overbids, Underbids, Stalefish, Recent Sales, and New Listings, check out The Goods.

Have a great weekend. Come visit me at 1011 23rd, my super sweet loft, which just came BOM for $699,000.

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From $899,000 To $1,400,000 | Holy (160) Santa Marina!

Would you look at that…the #1 Overbid of the week is not a fixer! It’s a been a while for that, but we’re pleased to report the market is strong…very strong for any reasonably good property in any reasonably good neighborhood of San Francisco, which is pretty much everywhere now.

This property (160 Santa Marina) was ridiculously under-priced at $899,000, but still.


It sold half a million dollars over the seller’s asking price and just clinched the top spot on this week’s Top 10 Overbid list by selling for a stunning $1,400,000.

As for the rest, here you go.

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When A Tear Down Sells For $2,350,000

To say the market isn’t moving along at blistering speed would be an understatement. Thus, my lack of blogging. I have updated all of the listing data we provide at The Goods, such as Top 20 Underbids, Top 20 Overbids, New Listings, SOLD Property (nobody else provides this so easily for your pleasure), and more. Check it out right here, and share it with friends.

I currently have five properties under contract, four of which are for my buyers. The prices we have been forced to offer in order to win, and the number of other buyers we’ve had to outbid, are staggering. Those sales will drop on MLS when I’m deep, deep into the Costa Rican jungle, but for now, Overbids….the juicy top 10, and the juiciest of all is 3658 18th St, an absolute wreck of a property that literally had dirt in the garage, was disgusting to set foot in, and quite literally falling down in the back. But it has good bones. Listed $1,099,000 and sold for…wait for it…$2,350,000.

And the rest..

Address BR/BA/Units DOM List Price Sold Price Overbid
3658 18th St 3660 2-4 Units 15 $1,099,000 $2,350,000 113.83%
136 Delmar St 1/1.00/N/A 15 $775,000 $1,505,000 94.19%
48 Pond St 2-4 Units 1 $800,000 $1,310,000 63.75%
3065 Washington St 4/2.50/3 13 $1,998,000 $3,210,000 60.66%
4154 24th St 3/2.00/N/A 14 $1,248,000 $1,950,000 56.25%
1535 33rd Ave 2/1.00/N/A 23 $849,000 $1,300,000 53.12%
1614 McAllister St 1616 2-4 Units 2 $1,495,000 $2,250,000 50.50%
572 Moultrie St 2/1.00/N/A 6 $930,572 $1,400,000 50.45%
755 Florida St 1/1.50/7 18 $1,095,000 $1,600,000 46.12%
2075 Sutter St 2/2.00/529 14 $895,000 $1,305,000 45.81%

If you, or anyone you know, have questions about San Francisco real estate, just give me a shout. I have a great new listing that will be coming on the market in NOPA/Alamo Square middle of June, and potentially a great home on the Southern end of Noe that will knock your socks off, so get on my radar screen. I also know of several amazing off market homes and pending price reductions to properties you might have already seen. I am a Top Producer, and member of the Top Agent Network after all…LOL!

Real Time New Listings, Recent Sales, Overbids, Underbids, & More for San Francisco [The Goods]

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Top 10 Overbids Of The Week

In case you missed sfnewsletter, or don’t receive The Goods (which has the top 20), here are the top 10 jaw dropping overbids that will make your head spin:

Address BR/BA/Units DOM List Price Sold Price Overbid
3336 23rd St 3/2.00/N/A 16 $1,495,000 $2,306,000 54.25%
2266 Jackson St 3/2.50/ 7 $1,695,000 $2,410,000 42.18%
514 Elizabeth St 2/1.00/ 15 $1,095,000 $1,555,000 42.01%
3900 Folsom St 2/1.00/ 21 $699,000 $990,000 41.63%
426 Detroit St 1/1.00/N/A 24 $599,000 $835,000 39.40%
2001 14th Ave 2/1.00/N/A 13 $975,000 $1,350,000 38.46%
858 30th Ave 2/1.00/N/A 12 $725,000 $1,000,000 37.93%
53 Divisadero St 57 2-4 Units 14 $2,095,000 $2,800,000 33.65%
20 Dorado Ter 1/1.00/A 13 $449,000 $600,000 33.63%
2647 Folsom St 2/1.00/ 91 $695,000 $925,000 33.09%

Wow…

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San Francisco’s Top 10 Real Estate Overbids Of The Week

Just when I go ahead and claim “SF Real Estate Market Cools (sort of)“, out comes the week’s latest and greatest Top 10 Overbids:

Address BR/BA/Units DOM List Price Sold Price Overbid
714 Kansas St 3/2.00/N/A 17 $849,000 $1,750,000 106.12%
2215 California St 2/1.50/N/A 28 $1,249,000 $1,861,000 49.00%
615 Ellsworth 2/2.00/N/A 22 $749,000 $1,100,000 46.86%
2412 Funston Ave 2/1.00/ 15 $749,000 $1,085,000 44.86%
426 8th Ave 2/1.00/N/A 17 $849,000 $1,200,000 41.34%
2856 Scott St 1/1.00/3 8 $989,000 $1,333,000 34.78%
8 Mateo St 3/2.50/N/A 42 $1,095,000 $1,462,500 33.56%
1271 26th Ave 3/2.50/N/A 28 $899,000 $1,200,000 33.48%
1770 10th Ave 4/3.00/N/A 12 $1,595,000 $2,125,000 33.23%
1430 23rd Ave 3/2.50/N/A 23 $898,000 $1,190,000 32.52%

For a complete list of recent sales in your area, get The Goods, and get educated. Wondering if any properties sell UNDER asking? They do. Here are the Top 20 Underbids. And if 10 Overbids aren’t enough to spark great dinner conversation (maybe a little gambling), have a look at the Top 20 Overbids.

I probably won’t do any blogging next week, so have a great Thanksgiving everyone!

San Francisco’s Top 10 Real Estate Overbids This Week

…and because I know you love ’em:
Top 10 Overbids Of the Week

Address BR/BA/Units DOM List Price Sold Price Overbid
344 Prentiss St 2/1.00/N/A 12 $899,000 $1,330,000 47.94%
131 San Pablo Ave 4/2.50/N/A 20 $1,995,000 $2,850,000 42.86%
311 Jersey St 2/1.00/N/A 11 $1,175,000 $1,670,000 42.13%
43 Ruth St 3/1.00/N/A 8 $388,000 $550,000 41.75%
122 Farallones St 2/1.00/N/A 13 $499,000 $700,000 40.28%
2200 Sacramento St 2/2.00/603 15 $899,000 $1,255,000 39.60%
1727 Grove 2/2.00/ 19 $899,000 $1,230,000 36.82%
106 Wool St 3/2.00/N/A 25 $1,149,000 $1,565,000 36.21%
3333 Clay St 1/1.00/3 12 $899,000 $1,200,000 33.48%
71 Cotter St 2/1.50/N/A 13 $875,000 $1,150,000 31.43%

Go deeper, and check out the Top 20 Underbids.

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It’s Friday! Top 10 Overbids To Spark Your Cocktail Conversations Tonight

You’re all probably wondering where the hell I went. I’m here. Representing buyers and sellers in this frenzied market. This market that is full of crazy overbids, properties getting many multiples of offers, and at the same time properties that are now sitting in the dead pool. I call these “Stalefish” a.k.a. 30+ Club, and you can see some of them here.

But it’s Overbids, the Top 10 to be specific, that you came to see, so here they are. Have a great weekend!

Address BR/BA/Units DOM List Price Sold Price Overbid
3955 19th St 2/2.00/N/A 12 $1,195,000 $1,830,000 53.14%
1493 Newcomb Ave 2/1.00/N/A 3 $408,888 $623,700 52.54%
14 Ulloa St 2/1.00/N/A 25 $798,000 $1,125,000 40.98%
662 Elizabeth St 2/1.00/ 9 $799,000 $1,105,750 38.39%
369 Arguello Blvd 371 2-4 Units 29 $1,650,000 $2,250,000 36.36%
131 Harold Ave 2/1.00/N/A 16 $599,000 $805,000 34.39%
3615 20th St 2/2.00/6 13 $1,049,000 $1,400,000 33.46%
525 27th Ave 527 2-4 Units 21 $1,190,000 $1,580,000 32.77%
460 Andover St 4/2.50/N/A 10 $1,250,000 $1,650,000 32.00%
17 Valletta Ct 19 2-4 Units 36 $1,100,000 $1,450,000 31.82%

Properties Still available [The Goods 30+ Club]

Are Overbids A Result Of Intentional Underpricing? No – It’s Competitive Pricing

It’s happened again – I did a post Friday about the week’s overbids, and the comments and emails immediately come in, “Is this because the owners are listing for under market prices to crest bidding wars?” or “Why do you always highlight overbids? Aren’t these properties underpriced to begin with?” or “These properties are selling at market price, so why all the hype about overbids?” or “Can you post comps for each overbid you show?”

It’s nonstop, so let me elaborate. The answer is no, most of these overbids are not underpriced, and no, most listings are not intentionally underpriced*. Most properties are “competitively” priced. In a market where buyer activity drives property values up, we have learned (this isn’t San Francisco’s first crazy real estate rodeo) it is best to price a property lower than where you expect it will sell, get a lot of people through the door, and let the buyers set the new market price for any particular property. It is the best way to get the highest price for the seller. The truth is, in this market, we listing agents have run out of crystal balls and simply don’t know what true market value of a property is until you open it up to the hordes of buyers out there, and let them do their thing.

Additionally, buyers have become accustomed to looking at property priced lower than what they expect to pay in the end. So if you list higher than what they’re searching, you won’t get them through the door. For example, a buyer that is expecting to pay $1.2M on a property is likely looking at properties priced well below that (in the $800-995,000 range), knowing they have to bid over. It’s mean, and totally wrong, but it is the way it is. If you bring a property to market at the higher price you hope to achieve, you might get less buyers through the door, no offers in the end, and end up “chasing the market down”, which is not a fun thing.

The last three listings I had blew our (mine and my clients’) minds. We had expectations as to where they might sell, and even entertained the idea of an off market sale, but man were we glad we didn’t go that route. In each situation we received at least 10% more than what we originally thought was “market value”. Did we intentionally price it low? No. We really didn’t know exactly where it would end up selling, so we priced it competitively knowing the buyers will set the market price, and they did, and always do.

It’s frustrating being a buyer in this market, no doubt, but it’s stressful being a seller too. Selling a property for an exorbitant amount of money, regardless of how much over asking an offer might be, is not entirely relaxing. Appraisers strike the fear of God in sellers, because each new appraisal is at a level not yet seen. Hence the draw of accepting cash offers over those with loans. Miraculously appraisals keep coming in at value, but sometimes other things can derail the process too, and then what? Re-list? List at higher price? Are the same buyers still out there? Will you get that magical (through the roof) number again? Do you put the backup offer in (if they’re still there)? So many variables cause so much stress, but that’s another topic altogether.

The bottom line is the overbids that are highlighted here and make headlines are not so much about property being underpriced, as much as they are about the multitude of buyers out there willing to go to astronomical heights to realize their dream of owning property in San Francisco. Arm chair analytics are great for SocketSite, not so great for listing your home on the market, or trying to be the lucky buyer that wins in a market with far too little supply, and over-flowing demand.

So take these overbids with a grain of salt, and if MLS was smart, they’d add a category when reporting sales that will show us all the number of offers on any given property and any given overbid. That’s the real stat to focus on. For every property that gets sold there are usually 10-15 buyers (at least) that just lost and are moving on to the next one, and ready to go crazy big just to be done with it.

I hope that sheds a little light on the matter, and I hope it clears up the air around most of us real estate agents that are simply doing what it takes to get the seller the highest and best price for their property. It’s a bit of a game, but if you know how to play, you can win. As always, I’m here to help you buy and sell, because I do know the game, and I do know how to win.

*Some agents do intentionally underprice property, and some agents do use this as a way to brag about getting “$$$ over asking on my latest listing, I can do the same for you.” But those agents are the exception, not the rule, and you should avoid them.

Last Week’s Top 10 Real Estate Overbids-San Francisco [theFrontSteps]

The House Of Haight Ashbury Vintage Gets $1.3M More, Two Potrero Hill Comps You’ll Want To Track, And More Overbids To Ponder

Before I show you the list of the top 10 overbids, have a look at the building that houses Haight Ashbury Vintage:
Haight Vintage Building sells for $8,250,000
Listed for $6,950,000 back in October, it just closed for a mere $1,300,000 more. Apparently, Vintage is more hip than you thought…

I have more story. Just yesterday I heard of 25 offers on this condo on Missouri in Potrero Hill, and there will be many on this other condo on Mississippi, but those are not done deals. Get on the list and know when they close.

So…the overbids. Regardless of where these are priced, consider the number of buyers out there bidding on what little inventory we have, which ultimately drives the price up. Think it’s just a matter of pricing below comps to eventually get to market? I don’t. The data shows staggering growth in SF, and a possible plateau, but the truth is, buyers far outnumber sellers, and until those two numbers meet in the middle, we can expect another year of mind boggling overbids. Another thing to consider is when these properties went into contract, that being the “slowest” time of year for San Francisco real estate: The Holidays and a couple weeks after.
Anyhow, here you go. Overbids, cuz I know you love them:

Address BR/BA/Units DOM List Price Sold Price Overbid
2510 39th Ave 2/1.00/N/A 15 $599,000 $788,000 31.55%
179 Vienna St 2/2.00/N/A 11 $499,000 $650,000 30.26%
200 Amber Dr 4/2.50/N/A 12 $1,299,000 $1,670,000 28.56%
506 Molimo Dr 3/2.00/N/A 31 $859,000 $1,100,000 28.06%
12 Sherwood Ct 3/2.00/N/A 5 $788,000 $1,000,000 26.90%
700 Illinois St 1/2.00/3 13 $499,000 $630,000 26.25%
726 Masonic Ave 2/1.00/ 34 $750,000 $925,000 23.33%
94 Eastwood Dr 2/2.00/N/A 26 $898,000 $1,085,000 20.82%
738 Masonic Ave 2/1.00/ 6 $799,000 $955,000 19.52%
1501 Haight St 1509 N/A/N/A/14 39 $6,950,000 $8,250,000 18.71%