SF Overbidders Head Into the Holidays

The two weeks leading up to Thanksgiving saw a flurry of buying activity in San Francisco. However, the level of overbidding wasn’t as rabid as it was a few months ago. I did manage to find three new SF Overbidders Club members (criteria: paying 25%+ over the list price) who turned up in the Castro, Marina, and Presidio Heights.

1032 Castro
Eureka Valley

3BR/2BA
List Price: $959,000
Sale Price: $1,340,000
Overbid Amount: 40%
Closed Escrow: 11/15/13

This modest home with a quirky downstairs third bedroom and bath received an onslaught of offers, primarily because it was a house vs. a condo, in a popular location—and also had two-car parking.

2451 Bay
Marina

4BR/2BA
List Price: $2,375,000
Sale Price: $3,250,000
Overbid Amount: 37%
Closed Escrow: 11/27/13

Graced with odd curb appeal, 2451 Bay is situated directly across the street from the Palace of Fine Arts—which is fabulous if you don’t mind the constant presence of tourists outside your door most of the time. The spacious home has been updated throughout, and also has a large, unwarranted one-bedroom unit and a large garage. Paying almost 40% over asking in all cash did the trick!

3311 Jackson
Presidio Heights

3BR/2.5BA
List Price: $2,880,000
Sale Price: $3,701,000
Overbid Amount: 28.5%
Closed Escrow: 11/15/13

3311 Jackson was in the same family for six generations, which is code for “needs updating and probably a major renovation.” But that didn’t scare off the buyer, who paid almost 40% over the list price for this large corner home in a great location just south of the Presidio.

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