In the Know: December 7, 2015
So, It’s December, Right?
Details of what 2016’s San Francisco real estate market will look like start to emerge now.
It’s the first week of the bottom part of the year which means people are distracted away from real estate, right? Well, if you’re the agent at 4 Ord Court over at the base of Corona Heights/Castro (whom we know well) you’d be surprised, which she is. That cute bungalow that’s been updated ever so smartly and cleverly had fifty — 50 — disclosures sent out before her Wednesday offer date. Of course the property, which is a bungalow just shy of 1200 sqft, is one of the most ingenious, thoughtful and efficient properties I’ve seen recently. Even though there are ikea cabinets the charm, thoughtfulness, light and location made it a hit. But it is December and the property was a teaser price. The $1.2M list was only an afterthought for seriously interested buyers. In the end, there were multiple offers but the sellers only wanted to take cash offers of which there were just three. The winning one is in the mid-$1.5M range with a backup in the $1.45M range but the financed offers were even above the winning cash offer of note.
Stay tuned for our Annual Review next issue where we’ll go over what happened in 2015 and how 2016 will be different. Among our top predictions/observations:
As per usual, here’s what’s in this edition of our newsletter:
It should go without saying, but it’s worth saying anyway: thank you for reading our newsletter and for your continued patronage, trust and referrals. We love what we do and we love seeing our clients succeed and we’d like to see even more success in the days ahead.
Congrats of the Week!
Showing that patience and resilience are true virtues Jonathan, Raffi and I have, we wanted to congratulate our buyer Todd on finally closing on a home after a 4-year search. Todd got the great home at 2300 Leavenworth Street, which is a tall, 4-story home is perched right at the foot of the crooked part of Lombard Street in Russian Hill. It was worth the wait as the home has more than 2,000 sqft of room, 3-4 bedrooms, 2 bathrooms, elegant finishes and views of SF’s skyline and Marin from pretty much every level that all lead to a rooftop deck that has a 300-degree view.
Listed for $2.825M we scooped up the property at $2.828M and beat out two other ‘circling offers.’ We found out that one of the other buyers who failed to act in time offered the seller $2.9M but it was too late. We can’t wait to see the updates and the views.