Ocean Views & Space on the Great Highway

1580greathighway_4
Yes, it is possible to find a three-bedroom condo with three bathrooms (!) and almost 2,000 square feet with parking and ocean views for less than $1M in San Francisco. Case in point: 1580 Great Highway #4 in the Outer Sunset, which offers all of the above for a list price of $699,000. That’s a lot less than the $1,388,270 citywide average sale price for a 3BR condo in San Francisco, isn’t it?

But there’s more: This four-unit building was constructed in 1985, so it’s more up to current city codes than, many of San Francisco’s older buildings. The kitchen is well appointed with granite countertops and new appliances, and you also get a deeded deck with lovely hill views.

What’s nearby? Well, besides the ocean and a great running/biking path, you’re two blocks from the N Judah that runs downtown. Two of my favorite restaurants, Thanh Long and Outerlands (currently closed for an expansion project) are five blocks away, and let’s not forget that Golden Gate Park is a healthy jog to the north.

A couple noteworthy items: HOA dues are a low $310.51/month. And because two of the four units in the building are tenant occupied, you will need to work with a portfolio lender such as First Republic that will lend on a property with this type of rental/owner-occupier ratio. (In other words, your loan will be an ARM vs a 30-yr fixed).

1580 Great Highway #4 was listed last year for about $50,000 higher and buyers didn’t bite. But I think they’ve nailed it this time around. If you’re a buyer who can be a little patient with the time it takes to get downtown or to the freeways—-and want to have your own urban refuge on the water—give this condo a look. Offers are due on March 19th, so if you want to pop in to check out the property, give me a call and I’ll schedule a showing for us!

SF Overbidders Hit Single-Family House Market

Late September was a busy time for the latest crop of home buyer overbidders, most notably in the Mission, Inner Sunset, and Glen Park. Buyers can join the club when they pay 25% or more over the list price. Here’s what went down:

837 South Van Ness
The Mission

5BR/1BA
List Price: $1,395,000
Sale Price: $1,901,000
Overbid Amount: 36%
Closed Escrow: 9/17/13

For those who doubted that this total fixer would attract the attention of buyers who would pay dearly for their opportunity to create a Mission compound on South Van Ness, this one’s for you. This severely dilapidated property with gaping wall holes, unfinished rooms and a “lodger on the premises” garnered almost $2M. But the three-level home on a huge lot was sold for 36% over its asking price, and will probably require at least another half million to get it up and running.

1566 9th Avenue
Inner Sunset

4BR/2.25BA
List Price: $980,000
Sale Price: $1,395,000
Overbid Amount: 42%
Closed Escrow: 9/25/13

$1.4M is a pretty typical price for a large house in the Inner Sunset that’s in good shape. So the $980,000 list price could definitely be viewed as a teaser. But buyers were sucked in and the non-contingent, highest offer for 1566 9th Avenue took the prize. Four bedrooms up, and another bedroom/bath on the garage level. Perfect for the crowd that wants to be near UCSF, Muni and the Irving Street retail area.

101 Miguel
Glen Park

5BR/1.5BA
List Price: $849,000
Sale Price: $1,110,000
Overbid Amount: 31%
Closed Escrow: 9/26/13

This unassuming corner house at the corner of Chenery and Miguel was another one for the contractor set. Big views were involved, as well as a great location near the Glen Park retail area and BART. The buyers for Miguel were happy to pony up just over $1.1M for an opportunity to renovate a house that had been in the same family for three generations. Say good-bye to the wood paneling.

What You Can Buy: 3BR Houses for $1M

Ah, a three-bedroom single-family home in San Francisco—the holy grail of local real estate.

There are currently 102 such houses on the market as of this writing, at an average list price of $1,206,627. But the good news is that there are plenty of homes available. It’s just a matter of being flexible about what you may need—and which neighborhood you’d like.

I found a trio of cool 3BR houses to consider which are below the citywide list price average, in three very different neighborhoods:
1723 22nd Avenue
Central Sunset

3BR/2BA, 1530 sq feet
1 pkg
List price: $927,000

This very charming, Marina-style home has good curb appeal, interior 1930s period detail, and upgraded kitchen and baths. There are two bedrooms on the main level, and a third on the garden level. There’s also a large garage and a really sweet yard. 1723 22nd Avenue came on the market on August 21st, and is not selling at its current $927,000 list price. I’m honestly not sure why, other than that buyers are recognizing that the house may be worth around that price and are wary of having to bid higher. If I were interested in the house and neighborhood, I’d schedule a showing and try to take advantage of a market opportunity. Plenty of public transportation nearby, and 19th Avenue puts you on the right track to the Golden Gate Bridge for North Bay commutes.

70 Sheridan
SoMa

3BR/2BA, 1359 sq ft
2 pkg
List price: $995,000

A house in SoMa? This rarity at 70 Sheridan is perfect for anyone who loves urban living and also would love the privacy that a single-family house can provide. Renovated in 2006, the property is a mashup of 1920s period detail and more contemporary finishes, and has a huge garage. There’s a freestanding shed in the yard, which you may be able to put to good use for something like guest space or a home office. One thing to note: The property is zoned RED (residential enclave district), so you should check with your lender to make sure there won’t be any complications with your loan if you’re purchasing 70 Sheridan as your primary residence.

30 Molimo
Miraloma Park

3BR/2BA, 1970 sq ft
1 pkg
List price: $989,000

30 Molimo is a very gracious, detached home with East Bay views and an updated, eat-in kitchen. Downstairs are the third bedroom, second bath and family room. Molimo is a quick drive to Mollie Stone’s, the West Portal retail area and 280. Warm weather is not Miraloma’s strong point, but what you do get are wide, open tree-lined streets and nice front yards.

New SF Overbidders Club Members for August

We have a few new members of the San Francisco Overbidders Club this month. As some of you may know from past posts, buyers join the Overbidders Club when they pay in excess of 25% of the list price.

August was a big hit for the west end of town, where our newest Overbidders seemed to lurk. Here’s the rundown this month:
254 11th Ave
Inner Richmond

4BR/2BA
List Price: $849,000
Sale Price: $1,275,000
Overbid Amount: 50%
Closed Escrow: 8/21/13

Who doesn’t want a big fixer half a block from California Street? Many buyers vied for 254 11th Avenue, as it was one of those types of properties that appealed to both contractors and “sweat equity” buyers. But one buyer decided that paying 50% over asking and waiving all contingencies would do the trick. And it did! The appeal of this house was that it has four bedrooms on one level upstairs, an attic with expansion potential and a large garage. Having the space already there makes things infinitely easier when it comes to renovations.

18 Quintara
Golden Gate Heights

4BR/2BA, 2053 sq ft
List Price: $975,000
Sale Price: $1,325,000
Overbid Amount: 36%
Closed Escrow: 8/16/13

18 Quintara is basically a house that has it all. It’s detached on three sides, surrounded by landscaped gardens, white picket fence, as well as a remodeled kitchen, large garage and in-law apartment that represents the fourth bedroom but is perfect for an au pair or guests. What does someone pay for a house like that these days in Golden Gate Heights? About $1,325,000. The teaser of a list price was low enough to garner 19 offers, so paying 36% over asking and waiving all contingencies is pretty much what you’re gonna have to do to win in this situation.

762 45th Avenue
Outer Richmond

3BR/2BA, 1826 sq ft
List Price: $849,000
Sale Price: $1,195,000
Overbid Amount: 41%
Closed Escrow: 8/14/13

Featuring an original 1920s kitchen and bathrooms, this basic house at 762 45th Avenue had something unique going for it—a professionally designed garden with a hot tub. And it’s five blocks from the beach. The one, two punch of paying 41% more + waiving contingencies did it again for these new homeowners.

269 Waller
Hayes Valley

2BR/1BA, 1330 sq ft
List Price: $1,195,000
Sale Price: $1,625,000
Overbid Amount: 36%
Closed Escrow: 8/16/13

Purchased by buyers who I suspect had lost out on quite a few homes to maximum overbids over the past few months, 269 Waller is in a more outskirts part of Hayes Valley. But the deep lot, remodeled kitchen apparently make up for the lack of third bedroom, second bath, and presence of a brick foundation. There were contingencies in the contract, but I’m betting an appraisal condition wasn’t one of them.

What You Can Buy: 21 Days & Counting

I found two single-family homes and one condo that have been sitting on the market for more than 21 days. As active San Francisco buyers know, decent properties that don’t garner multiple offers within one or two weeks of coming on the market are worth considering. If anything, there will be less competition, and you may actually be able to negotiate with the seller.

Here are my picks this week:
1424 Wawona
Parkside

Days on market (DOM): 23
3BR/2.5BA, 2106 sq ft
2 pkg
List Price: $1,188,000

1424 Wawona is one of those houses that doesn’t have the classic San Francisco charm, but it has a very functional floor plan and quiet location on a cul-de-sac across from Stern Grove. All three bedrooms are on the upper level, there’s a nicely remodeled kitchen, updated bathrooms, and a unique yard with a deck on the upper level.

1853 Filbert
Cow Hollow

Days on market (DOM): 23
2BR/2BA, 1,048 sq ft
1 pkg
List Price: $1,185,000

Boasting a prime Cow Hollow location near Union Street, 1853 Filbert features a remodeled kitchen and baths and opens onto a lovely shared patio and landscaped garden. The building was constructed in 1909, so 1853 Filbert has period detailing throughout. There are six condos in the building, and HOA dues are $375/month. Two storage units are included, as well. The property was on the market in 2012 with a last list price of $1,125,000 (down from $1,185,000) and the seller withdrew the listing. But we’re in a new market now, so they’re going for their original price this time around.

381 San Leandro
Balboa Terrace

Days on market (DOM): 32
4BR/2.5BA, 2995 sq ft
2 pkg
List Price: $1,399,000

Looking for a four-bedroom home in a family-friendly neighborhood for under $1.5M? 381 San Leandro Way may be the one for you. The two-story home has it all, including a banquet-sized dining room and remodeled kitchen with breakfast area open to a deck, and all three bedrooms on the same level. Did I mention that the master bedroom has ocean views? The only drawback is that there’s no yard—just a rear easement that allows for a garage and off-street parking. But the space and stately architecture are all there. 381 San Leandro was initially listed for $1,549,000, and the current $1,399,000 price represents a reduction that happened this past week.

Welcome to the SF Overbidders Club

We have some inaugural entrants into what I am officially calling the San Francisco Overbidders Club. What does it take to make the cut? You need to overbid more than 25% for a property and close the sale.

There are two underlying requirements to make it into the Overbidders Club. The first is wherewithal, meaning you have to have the financial means to pull it off. In most cases, we’re talking half down, or all cash. The second is will. You have to want that property enough to be willing to pay well above what all other buyers may be offering.

And now, here’s a look at the properties that were picked up by our first group of Club members:

227 Central
The Haight

Single-Family Home
4BR/2BA, 2063 sq ft
List Price: $1,095,000
Sale Price: $1,500,000
Overbid Amount: 37%
Closed Escrow: 6/26/13
This tenant-occupied, rambling Victorian on Central at Page was the perfect project house. Sold off market and in a probate transaction, the buyer will undoubtedly be livin’ the dream of renovating a Victorian in a classic San Francisco location. The idea here is that with time and money, the owner will ultimately see a property value of well over $1.5M in the future.

1680 9th Avenue
Inner Sunset

Single-Family Home
3BR/2BA, 2032 sq ft
List Price: $1,275,000
Sale Price: $1,650,000
Overbid Amount: 30%
Closed Escrow: 7/18/13

1680 9th Avenue is situated in the Windsor Terrace section of the Inner Sunset, which is in reasonable walking distance of retail areas and public transportation. The three bedrooms are all upstairs on the same level, and there’s a chef’s kitchen with an island. These are always big selling points. The garage access is via an alley behind the property, and there isn’t much outdoor space. But with only about a dozen homes on this level selling this year in the neighborhood, this buyer gave it all he had to make sure he’d own this one.

364 Crescent
Bernal Heights

Single-Family Home
4BR/3BA, 2725 sq ft
List Price: $1,275,000
Sale Price: $1,600,000
Overbid Amount: 25.5%
Closed Escrow: 7/12/13

Located six blocks south of Cortland and within earshot of 280, this sprawling Victorian at 364 Crescent is unique for a neighborhood with smaller homes. It sits on an oversized, corner lot and didn’t need any work. Excellent period detail, great kitchen, huge garage, and hot tub in the yard. But in the end, this is a big price to pay for this location in Bernal.

21 Days & Counting: What’s Not Selling Quickly

Most of the homes that hit the San Francisco market are in contract within a week or two, with multiple offers and an ultimate selling price of well over the list. However, there are actually properties sitting on the market that have somehow slipped through the cracks. If you’re a buyer on a budget and sick of complaining about how there’s no inventory, you may want to consider one of these single-family houses that has been on the market for 21 days or longer:

250 Elsie
Bernal Heights

2BR/1BA, 1100 sq ft
No parking
Days on Market: 23
List Price: $759,000

The Scoop: 250 Elsie was built in the mid-1800s but has an open floor plan and a loft above. The yard has mature fruit trees, formal box hedges, and rose bushes. The foundation has been upgraded and there’s a large, undeveloped basement.
The Location: Steps from Bernal’s Cortland Avenue retail strip, and close to the Mission Street corridor.
Background Check: This is a probate sale that’s not subject to court confirmation.
Bottom Line: If you’re all about outdoor space, 250 Elsie will fit the bill. Consider leasing a garage, parking is not that easy in this location. Or contact your favorite garage contractor and see what the possibilities are for creating a one-car garage out of all that basement space.

740 Foerster
Miraloma Park

2BR/2BA
1 parking
Days on Market: 29
List Price: $899,000

The Scoop: 740 Foerster is a lovely art deco single-family home with a remodeled kitchen and family room down. Stairs to yard that’s mostly concrete. Low termite report on file.
The Location: A bit of a hike to the downtown Glen Park area and BART, but great freeway access and a peaceful environment.
Background Check: Last sold for $1,010,000 in 2007.
Bottom Line: Solid house in good shape that doesn’t need work.

1766 10th Avenue
Inner Sunset

3BR/2BA, 1425 sq ft
2 parking
Days on Market: 37
List Price: $949,000

The Scoop: A spacious home with open beam ceiling, 1766 10th Avenue has a formal dining room, large split bath with separate shower and tub, and two good-sized bedrooms overlooking the large yard. Lower level has two bonus rooms, full bath, laundry and two-car tandem parking.
The Location: Reasonably close to the 9th and Irving retail area, UCSF Medical Center (for all you physicians in the crowd), and Muni lines.
Background Check: Went into contract, but fell back out.
Bottom Line: Nice neighborhood location and overall attractive house with good period detail.

Best Neighborhoods for Dog Owners in San Francisco

San Francisco is one of the more dog-friendly cities in the country, and many of its neighborhoods offer ideal environments for dogs and their owners.

I’m a dog owner myself, and frequently meet clients looking for a home in a neighborhood that will provide what we all need for us and our pets—ideally, proximity to open space, dog-friendly cafes and shops, and a community of dog owners who support each other and their ‘hood.

So here are my picks for the best dog-owner neighborhoods in San Francisco:
1. Bernal Heights. It’s got a great retail area on Cortland Avenue, with plenty of shops and cafes, including Bernal Beast pet shop. But most notably, Fit Bernal Fit is a gym that invites “Bernal locals and their dogs to join us to exercise, socialize and engage in a more healthful, energetic and stress-free lifestyle.” If that’s not enough, there’s Bernal Hill itself, which has trails and off-leash areas, as well as Holly Park. The weather is superior in Bernal, so when you head out for a walk in the late afternoon, don’t expect to encounter much fog.

2. Inner Sunset. The weather may not be as desirable, but the Inner Sunset has Golden Gate Park at its doorstep. Yes, you have to keep your dog on a leash, but at least there’s a lot for your dog to smell and see. (My terriers love the gopher holes.) There’s also the Irving Street corridor, which is a great place to stop for coffee or lunch. Le Video—one of the few bonafide video stores left in the city—also lets you bring in your dog. For pet care, there’s Irving Pet Hospital and Animal Emergency Services.

3. Noe Valley. Ok, so I’m a bit biased on this one because I live here. But if there are two requirements for living in Noe, it’s that you need a dog or a kid. I’ve picked a leash over a stroller, and have plenty of company. There are two dog runs—one on 30th Street, and one up the hill at 27th and Diamond. Noe Valley Pet Company at Church and Cesar Chavez is an excellent store, and K9 Scrub Club lets you wash your dog in one of their many giant tubs. Le Zinc on 24th and Castro has an outdoor patio where you can sit with your pooch. And don’t overlook the Friends of Upper Noe Dog Owners Group, which makes sure the 30th Street dog run stays in shape.

4. Parkside. This is a great neighborhood for dogs because it’s near vital open spaces. There’s Stern Grove, an excellent dog-walking area. But the canine epicenter lies over at Fort Funston, a short drive away. The area even has its own Fort Funston Dog Walker (FFDW) organization that works to preserve off-leash areas and good dog ownership practices. The Parkside is also blocks away from Ocean Beach and the Great Highway, which are great places to bring your dog. The streets in the Parkside are nice and wide, so there’s plenty of sidewalk room, too.

5. NoPa. The North Panhandle neighborhood suits dog owners well, as the architecture allows for spacious flats. It’s a little more low-key than the busier Haight area, which can be stimulation overload for dogs if you decide to troll along Haight Street itself. The Panhandle is a good dog destination, as it’s a sizeable open space for walks. Nearby Alamo Square has a play area. There are a lot of great shops and restaurants scattered throughout NoPa to which you can walk your dog, particularly along the revitalized Divisadero corridor. Don’t forget about Osso & Co, where you can pick up specialty items as well as everyday pet products. (There’s also one in the Inner Sunset.)

6. Mission Bay. Far less established a neighborhood than the others, Mission Bay is your best bet if you want to live downtown and own a dog. The Mission Creek Dog Park lets you meet other Mission Bay dwellers and their pets. If you get bored with Mission Creek, you can simply walk your dog up and down the Embarcadero, which has wide streets and provides nice Bay views.

New Mid-December Listings Seek Ready Buyers

I have to tip my hat to any sellers who put their properties on the market the week before Christmas. These are what I call serious sellers, and if you’re a serious buyer, it’s worth your time to consider such listings. Here’s a roundup of three properties which just came on the market:

81 29th Street
Bernal Heights
2BR/1BA
$615,000

Following in the footsteps of its first-floor neighbor at 83 29th Street—which sold for $570,000 this past June—81 29th Street is a well-presented unit with that extra room over the stairs that can serve as an office or nursery. The double parlor functions as both bedrooms in this stage set (no closet in the front “bedroom,” which is typically a living room), with the ample kitchen at the rear open to the living/dining areas. Not much outdoor space, and parking is leased across the street for $250/month. Amenities include in-unit laundry and lovely period detail throughout. This block of 29th Street is a mix of commercial and residential space, and is very convenient to 280 and Muni. You can also walk out your door and hit Rock Bar, the Front Porch and a variety of other useful retail businesses.

453 Noriega
Golden Gate Heights
3BR/3.5BA
$1,675,000

For those buyers who like a touch of SoMa in an otherwise sleepy Golden Gate Heights neighborhood, 453 Noriega will certainly zip things up for you. Rebuilt and renovated down to the studs, this very modern view home has an open floor plan with high-end finishes throughout. And let’s not overlook the Flora Grubb-designed garden and two-car garage. The house was last sold in 2007 for $951,000.

4046 26th Street
Noe Valley
3BR/2BA
$1,188,000

4046 26th Street is an interesting proposition: It can be used as a single-family home, or two units. If you’re going the house route, it’d be nice to create a comfortable master suite downstairs. The main level has been opened up, and has a perfectly serviceable kitchen. Yard is largely concrete with perimeter plantings. Oh, and if you can’t pull a bunch of cash out of your stocking, you can skip this one. The sale requires a quick close that a loan won’t be able to accommodate.

Smackdown: Central Sunset House vs Pac Heights Condo

San Francisco’s property value ranges largely depend upon location. For example, you’ll get more square footage and amenities for your money in a house in the western part of the city vs. one that’s situated blocks from public transportation that’s only a few stops from downtown. And in general, a house in the western part of San Francisco will have a value equivalent to a condo in the north end.

To give you an idea of the values, today’s Smackdown pits a house in the Central Sunset against a condo in Pacific Heights:

1462 30th Avenue
Central Sunset
3BR/2BA, 1500 sq ft
$849,000

1462 30th Avenue is an utterly charming, Spanish/Mediterranean home built in 1928. It features wonderful period details such as coffered cover ceilings and built-in rounded shelving. There’s a formal dining room, remodeled kitchen and two bedrooms at the rear of the main level. Downstairs is another bedroom/bath, as well as a newly carpeted bonus room and laundry room. Garage accommodates one car, and you can also enjoy a landscaped yard. The property is located right near the N Judah line, and is only 2.5 blocks to Golden Gate Park. This is a great home for buyers who want to stretch out and have plenty of room across two levels of living space.

2542 Sacramento #303
2BR/1BA, 1106 sq ft
$849,000

2542 Sacramento #308 is a top-floor condo in a nine-unit, 1960s building located between Fillmore and Steiner. It has a stylish kitchen, bedrooms with spacious closets, great natural light and a two-car tandem, private garage. Laundry is shared on the lower level. HOA dues are $584/month. This condo was in contract and just came back on the market, so it may be a good opportunity for the buyer who wants to be a block and a half from Alta Plaza Park, as well as within easy walking distance of all the conveniences on the Fillmore corridor.

Outer Sunset Townhome Tempts First-Time Buyers

The standalone one-bedroom condo/townhome at 4431 Kirkham at 48th Avenue in the Outer Sunset may be small at 560 square feet. But how many condos are available that don’t share walls and are part of an association that only consists of two side-by-side homes?

4431 Kirkham is half a block from Ocean Beach, as well as the N Judah stop. The property has a cute front garden that creates a nice curb appeal. The main level has a living space and upgraded chef’s kitchen, and the bedroom is upstairs. You have your own private rear garden. List price: $399,000.

Please contact me if you’d like to see Kirkham. My guess is that the property won’t be on the market for very long.

Inventory Still Tight in SF Market

Buyers are still flooding the San Francisco market like there’s no tomorrow, snapping up properties within days and paying well over the list price to get the properties they want. That’s because demand is high, and supply is low. And sellers are benefitting hugely from these conditions.

You can read more behind what’s happening in the Zephyr Quarterly Newsletter. Plus, some excellent community organizations will be sharing almost $1M in grants that will lead to some pretty nifty neighborhood improvements. And Ocean Beach is in for some future changes as part of its master plan.

It’s all here in the Zephyr Quarterly Newsletter.

Sellers in Parkside, Nob Hill Adjust to Market Realities

It’s always a pleasure to report sales that have finally happened after umpteenth days on market (otherwise known as “DOM” in Realtor speak). I spotted a couple such sales that closed last week, and wanted to share the deets with you.

We stop out in the Parkside for the first sale–on the Great Highway, to be precise:

The lucky buyers of 2518 Great Highway can now lay back in bed and watch HBO against the ocean view backdrop, knowing that they paid substantially less than the original list price. The 3BR/2BA single-family home at Great Highway and Vicente was first listed in March 2011 for $1.4M. The property had been nicely remodeled and feature three levels with good space. But $1.4M for the Great Highway? Buyers thought otherwise, and the house sat on the market for 112 days before a buyer paid cash and closed the sale for $990,000. You go, buyer.

Next up is 1201 California #705, a condo in the Cathedral Tower:

This 2BR/2BA unit had city, Bay and Golden Gate Bridge views, along with an open floor plan, spacious master bedroom and one-car parking (not to mention leased parking fees of $240/mo and HOA dues of $1640/month). First listed way back in November 2008 at $1,195,000, the economy progressively didn’t cooperate. The sale closed last week for $750,000. Woo-hoo.

But buyers, don’t let these sales trick you into thinking that you can easily write a lowball offer in the first couple months of a property coming on the market. In most cases, sellers with wildly overpriced properties will need much time (see the above cases) to relent. Their situations can change, and other comparative sales can end up convincing them to let go of their pipe dreams. If a home in San Francisco is priced well (i.e., in line with comparative sales over the past three- to six months), that home will likely go into contract and sell within a very reasonable period of time.

How’s The Market In: Outer Parkside

I’m in escrow with buyers on a lovely house in the Outer Parkside, so I thought I’d throw out a market snapshot of the neighborhood and kill two birds with one stone. I’ve always been a fan of the Outer Parkside, particularly after selling my listing on 45th Avenue a couple years ago. I liked driving out to the beach to show that house and felt like I was partially on vacation when I did so. It was a great way to get a break from the more hectic parts of the city.

And many others apparently agree. The typical buyer demographic these days in the Outer Parkside is a combination of young couples and families seeking a single-family home with reasonable space and the elusive third bedroom (which usually comes in the form of an unwarranted room down). Buyers with FHA financing are also quite common, as the home prices fall within typical FHA ranges.

The Outer Parkside is bordered by Ortega on the north, Sunset on the east, Sloat on the south and the Great Highway on the west:

A total of 32 single-family homes have sold in the Outer Parkside since January 1, 2011 at an average of $592,648. A bulk of those properties sold in the high $500,000s-mid $600,000s, which is very indicative of values there. The most expensive home sold was a 3BR/3BA property with about 3,000 square feet that changed hands after 112 days on the market for $800,000. And the least expensive home was a 3BR/3BA, 1950-square foot bank-owned home that sold in 163 days for $445,000 in an all-cash transaction.

There are currently 15 homes in contract, including one listing on the Great Highway that started out at $1.4M but was reduced to just above $1M before having an offer accepted. The other properties carry list prices of the high $500,000s. And there are 16 homes currently available, including another Great Highway property listed at $1,550,000. That one was a former church originally built as a vacation retreat. My pick of the current crop is 2120 Sloat (pictured above). Listed at $598,888, the 2BR/1BA is located on a busy stretch of Sloat, but is in close proximity to the beach and nearby Lakeshore shopping area. There’s probably negotiating room in the price, and the house is clean and move-in ready.

The bottom line on the Outer Parkside is that it’s one of those neighborhoods that will always fill the need for a buyer who wants a cute house in a clean, safe neighborhood with access to shopping areas and recreation. And some houses will get you those ocean views, too.

Extreme Multiple-Offer Situation Hits Sunset Home

For those too busy reading articles about the downfall of real estate, I bring you a from-the-field report of the latest wacky San Francisco housing happenings. Take a look at 1212 16th Avenue, a 2BR/2BA single-family home in the Inner Sunset near Lincoln that hit the market for $525,000 at the end of April. The property was small and was more of a condo alternative. But the location was extremely convenient for the Sunset, and the home was move-in ready.

Apparently, many buyers thought the same thing. The seller received a total of 36 offers, and the house is in contract for almost $100,000 over the asking price. It was pretty clear to me that they’d listed low, but when 36 sets of buyers jump in, that’s a whole other level. If you’re thinking of selling your smallish home in the neighborhood, keep in mind that there are 35 different buyers who may be ready to make offers.