Know San Francisco’s Overbidding Hot Spots

The selling patterns in San Francisco continue to be “list low, sell high.” Sellers looking for buyers to pay well over asking for their properties were in luck over the past two months.

Buyers looking to make a purchase before the end of the year need to be aware of the house and condo overbidding hot spots. These are the neighborhoods where you can expect to pay 20% or more for properties, based on sales in August and September 2014. [Read more…]

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 [Read more…]