San Bruno Rocking The Overbids!

sanbruno

#321

This was one we looked at. Pretty nice. Goes for 275K over asking!!! Ok, looks like our tentative private sale for a bigger home at a cheaper price (granted needing some kitchen work) is about right…


#322

Why are home prices still (ever so slightly) going up? I thought the prediction was that home prices would fall 10% or more after the Trump tax plan?

I have already resigned to the fact that I will likely lose money on my home, at least in the short term.

Also noticed that most homes in the SF peninsula don’t have that “Hot” label now, for whatever it’s worth. There were times in previous years where almost every house on sale in the SF peninsula were “Hot” on Redfin.


#323

In SV, it went up 20-30% instead.


#324

IMO, pent up demand still far exceeds supply. You have people who were fence sitters and now they have to contemplate whether those decent interest rates will soon go bye-bye, so they are taking the plunge (despite any perceived tax law ramifications) to lock in the interest rate. People with steady jobs (or perceived ones) want to settle down and make their dream homes a reality. All those Kool-Aid drinks (house flipping shows, news reports about up, up, up home prices, crazy me with the zillion posts on the Sunset rocking the overbids, etc) have finally worked. Then, you still have those folks like me doing an exchange or you have flippers who crazily think they can buy at high prices and sell yet at even higher prices. And finally, people have been listening to me rail on condos and they are finally getting it. (Last line, unsubstantiated but probably, mostly, true, I think, I hope…)


#325

Was cheap… goes for lucky 1.28M!!! This is in overall better shape, but my private purchase is bigger at 4/3 and is over 2K sq ft and I only paid slightly more so I think we did pretty good. Just clear termite and housing inspections and we got a steal!!!


#326

Not much on the overbid, but goes for over $1k/sqft!!!


#327

Ok, I forgot which poster asked me about the private sale home that I was considering oh what 6 months ago but decided no since the kitchen was smallish and not really expandable and the pool was an amenity that frankly I was not willing to pay for. Well, this is that house. I guess that supposedly second person who was interested in doing a private sale passed and now they decided to do a full marketing. It is a cute house. Oh well, the one we are buying is larger at 4/3 and over 2k sq ft. Not as dolled up I must admit but we can make it killer. Wow, this house is already a hot house on Redfin. See, private sales are out there if you look. Don’t believe me that this was mine for the taking if I wanted it? Contact the owner.


#328

What price did you ratify for ? Market was a lot different 6 months ago though


#329

A pool in San Bruno is huge negative. Plus the driveway takes up the whole yard. A garage in the back of a lot just wastes the whole lot.


#330

??? I am paying more now because the house, another private sale, is bigger. This house was mine for the taking if I wanted it because I was the first one to respond to the owner’s sell by owner posting with confirmed financials to be able to close the deal fast. Had we liked it enough we would have bought it for the asking price since that was what the owner wanted. This should sell for more than asking easily. San Bruno SFHs, nice ones, are easily over 1.3-1.4M. We just didn’t need a pool or waterfall for that matter but this is the kind of house we want for entertaining guests and family. The kitchen is smaller than ours now so that was the real dealbreaker.

@Elt1,

Are you kidding me? That detached garage would have been converted to my man cave or a ADU. No, this one was nice enough for us to seriously ponder on and the beauty was we had time (reasonable enough) to do that.

Geez, over 3K views and over 150 favorites. It should go high…


#331

A garage in the front is a more efficient use of the yard.
Garages in the back are a hangover from the 19th century when they were barns.


#332

Garages in the back does sound like a terrible use of land…


#333

So you had the deal at 1.15 6 months ago right?

I agree it will go over 1.35 now


#334

I think you made the right decision to let it go. 2000sf vs 1370sf… nobrainer


#335

Correct. Owners originally wanted to try to sell the place themselves and save on the commission so they listed it on Zillow or Realtor.com as sold by owner. I happened to be looking and saw it pretty much when it first posted and so immediately contacted the owner who was really nice and receptive. It would have worked out fine if we liked it enough. I was told that since I had passed on it, another person was seriously interested but since I was tracking it I knew it had fallen through for some reason. They were too doing an exchange to another property so that may have been the hang-up for them.

My point really is just that private sales are not always on run-down or problematic properties where the owners are hiding something potentially. This was an example of it. House is nice and in move-in condition. We could have easily bought this and flipped it and made a little bit of money I think. We shall see what it goes for but it was a cute enough house to seriously consider. I really liked the long driveway inside the gate and the detached garage in the backyard that could have been added on I think. The added expense of maintaining the pool and maybe the waterfall fountain, when we are not avid swimmers at all, was the dealbreaker.


#336

We shall see. Wednesday is the final walk-through. Seller repainted the whole house inside and out and finished up some needed work.


#337

Good luck today. Don’t worry about the petty stuff. Focus on getting to closing.


#338

Thanks! It should be fine. We drove by over the weekend and saw that the house was completely painted which was one of the conditions seller promised.


#339

One of us, one of us!


#340

Well, absent owner for a year or two but soon…