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Most Over Asking Award: St Patrick’s Day 2018 Edition

Most Over Asking Award: St Patrick's Day 2018 Edition

Golden in Golden Gate Heights: 2319 14th Avenue

What's remarkable about this Inner Parkside/Golden Gate Heights fixer house? Its closing price of $1.6M for starters and the fact that it got 30 offers!

The fact that San Francisco real estate agents underprice their property listings isn’t a surprise as 75% of listings in San Francisco sell for more than their list price. But there are times when underpricing’s results are even surprising to us agents.

This week’s winner comes from a ho-hum, vintage Golden Gate Heights/Sunset special. 

Having been in the same family since it was built in 1939, this 2-bed, 1.5-bath vintage house on 14th Avenue has about 1300 sqft currently and sits on a very large 3800-sqft parcel (the usual parcel size for the City is about 25 x 100 ft). The house was cleaned up for sale with the parquet floors being redone, the vintage 1940s/50s kitchen cleaned up and the oh-so-vintage knotty pine den sparkling. Despite having original materials like the almost-certain asbestos floors, asbestos-wrapped heating ducts in the unfinished garage and a (peaceful) death on property, the 2319 received 30 offers and closed well above its $995,000 list price at a $1,200/sqft+ price of $1,600,000 — some 161% of list price. Why? Perhaps the house really is “special” (according to the marketing remarks) or perhaps its proximity to West Portal or maybe fevered competitive bidding did what it was supposed to do. Either way, it’s confirmation that the market in San Francisco is as strong as ever. It’ll be fascinating to see what happens to 2319 next.  

161% of List
$1,230/sqft
2 Beds/1.5 Baths
List: $995,000
Sold: $1,600,000
No. of Offers: 30

Kevin’s Picks and Updates of the Week for San Francisco Real Estate 2/2/13 Ed.

Go Niners (next week)! Go See Your Next House on Saturday or Early Sunday

GO NINERS! (Bet of the Week: Niners, by 6)

Hello! Happy Weekend!. Welcome to Kevin’s Open House Picks of the Week — although this week I’m picking our 49ers. 

Just a year ago interest rates for 30-year fixed mortgages averaged 4.18% This year they are averaging 3.5% while the median price for San Francisco residential properties has shot up 39% since then. While that median price is a hard number to rely upon because inventory has changed — fewer foreclosures, lower inventory generally — one certainty is that interest rates will float down like a feather but will shoot up like a rocket and fast. And with the recovery starting nationally the risks of inflation will almost certainly lead to interest rate hikes. So while prices are higher, your overall cost and tradeoff between having more money today on hand versus money tomorrow or a decade from now can be measured by whether or not you get to make that assessment from your home.

Today’s market demands decisive action. Bidding $20,000 or $30,000 over an asking price — itself an inaccurate almost irrelevant value — is almost pointless and expected. In fact, we’ve started to see what they do in New York: the “suggested price.” Remember, market value only equals what someone (hopefully not someone else) is willing to pay for a property, which explains price flexibility especially if a property is not listed on the MLS. In fact, there is thinking that a third of property that will change hands in 2013 will be done off-market; all the more reason to have someone plugged in like me working for you.

Listing Sneak Peeks

(as overheard/shared by my colleagues)
I’ve been pounding the pavement, making calls and carefully listening to learn about new opportunities for you all before others do so you can get a head start.

  1. 24th and Dolores – Stunning renovation of two condominiums from a former single-family house. Won’t last long. Stunning views, high-end finishes, solid and quality construction. 1101 Dolores St. Lower unit 1.5 million upper at $1.995 million. Upper has four bedrooms, two and half-bath and 2300 ft.² (sold at +15% to an exclusive appointment client. Lower home has three bedrooms two baths with Cornerview at 1800 ft.² each comes with a parking space and it essentially new construction. Exclusive appointments only.
  2. 160A Linda Street @19th Street, 2-Bed/2 Bath 1 Bed/1Bath, TIC home in lottery, expected in January, February, pre-sale possible, middle unit, recently remodeled and sold (2010), expected list price range: $479k–$525k
  3. 486 Chestnut, Three new condos, 2 or 3 bedrooms with 1 to 2 parking spaces each, at least 1600 sq ft each expected, priced from $1.6M to $2.1M are coming on the market in January [construction delay]. It’s a rare to find something new in this area at all. See more: https://1456chestnut.com
  4. 2069 Green Street @ Webster, 3-Bed/3 Bath Pacific Heights Condo with parking and 3000+ sq ft., good light & garden access, expected list price range: $1.695M
  5. 1610 Sacramento at Polk, Nob Hill condos, eight recently renovated condos, each with independent parking spaces, 2 beds, 2 baths each either at 1150 sq ft or 1500 sq ft, prices range from $900k – $1.3M on within a week. [Staged this week, one already in contract].
  6. 96 6th Ave at Lake, 1 Bed, 1 Bath, + den, 6 unit bldg, Edwardian, great period details. Leased parking $150/month, Fireplace, wood floor, $400/month HOAs, wood floors, west facing, off market as sellers will deliver at the end of the year. Expected price: $675,000.
  7. 1653 Golden Gate, tic converting into 3 Bed/ 1.50 bath, 1800 sq ft, restored and upgraded top-of-the line, 7 rooms south-facing garden view.; price TBD, prob $800k – $900k+ (on this weekend or next)
  8. 1880 Steiner, 2 Bed/2Bath, 1 pkg second floor, at Post, nice layout with nice light, comfortable, fireplace, wood floors, built in 2002, 39 units altogether, around 1000 sq ft expected 1st week of Feb. Anticipated list price: $779,000 on next week
  9. 601 Van Ness #1132 1bd condo, opera plaza, $439k
  10. 627 Castro, top-floor TIC unit, 3 Beds, 2 Bath (1 is en suite) 2 parking spaces (!) recently renovated Edwardian flat, with 1600 sq ft. approx.
  11. top-shelf remodel, 2 fireplace, open kitchen, speakers in ceiling, new overhead light fixtures, small patio, restoration hardware finishes, garage parking, great location. List price $1.25M. Open to the public shortly thereafter and who knows what it will sell for and how long it will last. Seller is willing to take an offer now.
  12. 355 Buena Vista Ave, #301, 1 bed, 1 bath, extra storage, TWO parking space, condo, 774 sq ft, HOA dues around $400/month, expected list price $599k
  13. 352 Richland at Andover, Bernal Heights single family home fixer with APPROVED, shovel-ready plans for a 2300 sq ft expansion/addition to an otherwise large 1 Bedroom, 1 Bath, deep lot with yard, listed at $795k. Listed this week generally on MLS.
  14. 86 Wool St, Single Family Home at Eugenia Ave — 3 bed, 2.5 bath, 2 car, 1800 sq ft, was on the market last summer as a fixer, now it’s just about complete with high-end finishes and remodel. Expected list price $1.5M
  15. Noe Valley, Single-family House on Jersey St, between Noe & Sanchez, 290 Jersey, with AMAZING finishes; Previously 2 unit-probate at Jersey and Sanchez – now a stunning single-family home – 4 bedrooms (3 on same level); 3.5 bathrooms; formal living & dining; gourmet kitchen with family room / eat-in area; media room with wet-bar and adjacent outdoor living space with fire pit, garden and parking. Suggested list price in the $2.8’s. Shown by appointment only this Sunday, seller would love for Vanguard to sell the property and willing to take advance offers before going to open market.
  16. 994 Corbett near Market/Portola, it’s improved (perhaps over-improved, which means more value for you). Single family with 4 levels, w/ elevator, 3000 sq ft, master suite level with deck overlooking the city, fire place, steam sauna, infinity tub with views, master walk-in with chandelier, then three other levels with another 2-4 bedrooms depending on how you configure each floor. Decks on each. Excellent finishes and remodel. Radiant heat. Wood floors throughout. The kitchen is, well, wow, viking, gas range, custom wine fridge in addition to full-length refrigerator and freezer, two dining rooms, two sitting rooms, family rooms, workout room. Each person gets their own level. There’s a place to plugin your electric vehicle, the views are stunning, Anyway, it’s off market for a while and the list price now is $2.9M. Sellers are willing to negotiate.
  17. 537 Natoma @ Russ, 13 new construction condos, 9 2Bd/2Ba, 4 1Bd/1Ba, 850 sq ft–1100 sq ft, elevator building, all with parking, ready soon with exclusive for Vanguard agents and their clients. Expected price range $525k–$799k
  18. Oak & Baker, 5-unit building, with one renovated owner’s unit with 3-4 units some delivered vacant, excellent redevelopment opportunity, expected $1.8M–$2.0M
  19. Bryant & 1st Street, 3 Bed, 3 Bath, penthouse suite that combined two units into a space with more than 2500 sq ft with 2 parking spaces, 2 fireplaces decks, bridge and water views, expected list price: $2.7M
  20. 25th St & Castro, 2002-built 2 level, 3 bedroom, 3.5 Baths, upper unit that’s big and spacious with decks, sauna in a luxe building, tenant-occupied until Aug 1, expected list price $2M.
  21. 14th and Valencia, 411 Valencia, 1 bedroom, 4th floor, new construction condo, no parking, expected at $550,000.

In addition to my Picks of the Week, Advances and Exclusives, I thought you’d be interested to see how things ended up with previously listed properties. So without further ado:

 

Stories of the Week:

  1. 310 Townsend, a big one bedroom loft in that historic restoration building next to CalTrain, that was listed at $799,000 went in to the $800,000s — for a one bedroom!
  2. 2776 Golden Gate, a 2 unit building with one unit being tenant-occupied was listed at $999,000, received 6 offers and will close nearly 20% over the asking price.
  3. 1015 Florida, the single family home in need of some TLC in the hot Inner Mission area, listed at $665,000, received at least 14 offers and entered escrow at a “substantial” amount over the asking price.
  4. 1610 Sacramento, 3 bedroom Nob Hill condos with more than 1200 sq ft, which was exclusively previewed last weekend to Vanguard agents and their clients, already has the top-floor unit in contract at more than $1,000 a sq ft.
  5. 411 Valencia, the last 2-bedroom condo available went into contract over its asking price of $759,000 with multiple offers.

Extras: Access various reference resources — including my exclusive 60-page User Guide on how to navigate real estate successfully in San Francisco for buyers and sellers at www.kevinho.org Ask me for reference materials via Dropbox. And see pictures of many the homes I preview for you at Photobucket or on iCloud or YouTube.

This week there seems to be a lot of single-family homes and larger condos at the $2M price point. I’ve always said that the $2.3M – $2.9M price point is the perfect price in SF as you’ll get the most ideal home, or amenity-filled condo in areas like Pac Heights/Marina, South Beach (condo), Noe Valley/Eureka Valley, Haight (single family homes) Also we’re seeing more fixers pop on to the market too. So, take a look here and also be sure to go to www.kevinho.org to see the upcoming broker tour sheet for Tuesday.

My business comes from you and yours, so please feel free to pass this along to your friends, colleagues, pet walkers, etc. Thanks! Kevin Ho

Picks of the Week

 TAKE NOTE: Many of the open houses this weekend are on Saturday or are EARLIER on SUNDAY.

(a .pdf version will appear when clicked)

From Curbed SF : The San Francisco Neighborhoods and Real Estate Blog : Page 2

Forest Knolls – Quiet No More? From Curbed SF : The San Francisco Neighborhoods and Real Estate Blog: Battle Brewing… 

Curbed SF : The San Francisco Neighborhoods and Real Estate Blog : Page 2

Tuesday’s Tour for May 15, 2012 – Lots of New?

Congratulations to my clients Carrie and Aaron for getting into contract in the exclusive, almost sold-out Millwheel!

Carrie and Aaron got in on the ground floor in this about-to-pop building before most anyone in SF did because they worked with me and were willing to go for it! It’s exciting, it’s the right timing and about being in the right place at, of course, the right time! This opportunity was not even on the MLS yet (and may never end up there) and I found out about it by being curious, courteous and tenacious. It paid off!

So, will you find your new home like Carrie and Aaron did? Take a look below at our Tuesday Broker Tour sheet to get a start by learning what we’re seeing this upcoming week…. MLS Broker Tour for 5:15:12

Tuesday’s Tour today!

Take a look at what I am seeing today. There looks to be a whole slew of new listings in district 5 and two and nine. If there’s anything you want me to see let me know right away.

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What’s on Tour on Sunday and Tuesday

Take a look at the two-bedroom homes I’ve handpicked for my clients. And, after that, take a look at what’s on tour on Tuesday. Not too much I’m sad to say. Time to list!

Suggested Sunday Open House Agenda for 2 BR 4-1-12

Tuesday Broker Tour, April 3, 2012

Tuesday Broker Tour, April 3, 2012

 

Oh Ocean Beach, How We’ll Save Ya

A New Ocean Beach for You

Check out the new Ocean Beach Master Plan that charts course for future from the The Ocean Beach Bulletin
Read it
here.

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Broker Tour 3/20/12: See What We’re Seeing

Here’s this week’s Broker Tour sheet for the City.  Click it and a pdf file should download and/or open.

So, if there’s anything you want to see (but can make it) ask me to YouTube it! Happy hunting!

SFAR MLS Broker Tour for March 20, 2012 (pdf)

What’s on Tour on Tuesday the 13th?

Here are the properties on Broker Tour for March 13, 2012.

If you see anything you want me to see, ping me!

Broker Tour 3-13-12 (a pdf will open)

What’s on Tour This Tuesday 2/28?

Take a look at what we’ll be looking at today.  If there’s anything you want me tor preview for you, by all means let me know!

SFAR Broker Tues Tour 2-28-12

Tuesday Tour 2/14/12 V-Day pt 2

And here are some other highlights – 321 Frederick, 343 Frederick, 773 Castro, 284 Day, 1257 Noe, 32 Taraval, 2011 15th Ave, and 1777 16th Ave. Price ranges from $469,000 to $1,595,000.

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Testimonial: Client Feedback for 2155 12th Ave – Golden Gate Heights Single-family House

It’s always nice to hear from a happy client.

These comments were not doctored or edited in any manner.

Kevin Ho is an excellent real estate agent.  When I was looking for a real estate agent to buy a home, I had some basic criteria and he far exceeded it.  He is friendly, smart, and very familiar with the legal side of buying a home.  He is a genuine person who will look out for your best interests.  I would highly recommend Kevin.  It would be difficult to find a better agent.

– Gregg O., Buyer, San Francisco Water Department

A fine house indeed, but the true beauty is the rear deck and its view

My client and I were lucky to have found this great home and plenty more people are looking today!

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