New SF Overbidders Club Members for February

February ushered in some noteworthy overbidding in San Francisco, and that means we have quite a few new members for the SF Overbidders Club. Yes, sellers are still agreeing to price their homes lower than the estimated value, and why not? Particularly in neighborhoods like Noe Valley and the Mission, buyers can’t seem to help themselves from throwing money at homes even if the final selling prices are well above comp range. (By “comp range,” I mean the range for which other, similar homes have sold.)

Here are the February members who have paid 25% or more above the list price:
2527 16th Avenue
Inner Parkside

3BR/1.5BA house
List Price: $788,000
Sale Price: $1,129,000
Overbid Amount: 43.27%
What else can you tell me? Cash sale, no contingencies. Much deferred maintenance and foundation settlement issues.
2527_16thave

3412-16 18th Street
The Mission

Three-unit building
List Price: $1,425,000
Sale Price: $1,880,000
Overbid Amount: 32%
What else can you tell me? Two of the three 4BR units are tenant occupied.
3412_3416_18thstreet

986 Guerrero
Eureka Valley

3BR/2.BA house
List Price: $1,495,000
Sale Price: $2,040,000
Overbid Amount: 36.45%
What else can you tell me? Cash sale with no contingencies; garage accessible on Ames, behind the property. Basement has expansion potential.
986guerrero

526-28 Hugo
Inner Sunset

Two-unit building
List Price: $1,400,000
Sale Price: $2,100,000
Overbid Amount: 50%
What else can you tell me? Both 2BR/1BA units delivered vacant. Cash sale with no contingencies.
526-28hugo

2172 Fell
NoPa

3BR/2BA condo
List Price: $1,168,000
Sale Price: $1,534,327
Overbid Amount: $31.36%
What else can you tell me? Last sold in Sept 2012 for $1,087,500. Seven offers this time around, accepted offer had no contingencies.
2172fell

Honorable mention for Was-it-really-necessary-to-pay-that-much-over-the-price?! goes to the following buyers this month:
3245 Anza
Central Richmond

5BR/4.5BA
List Price: $1,549,000
Sale Price: $1,900,000
Overbid Amount: 22.6%

630 27th Street
Noe Valley

4BR/3BA
List Price: $3,095,000
Sale Price: $3,775,000 (cash)
Overbid Amount: $22%

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