The Sunset Rocking The Overbids!

sanfrancisco

#804

Ok, market is still steady…we have a Central Sunset tunnel entranced home with original kitchen and bathroom and undeveloped yard going for 1.35M, 355K over asking. Solid $1k/sq ft. Uh, where is the frig??? Are we supposed to eat out every night???


#805

Wow, semi fixer goes for 605K over asking in the Inner Sunset!!!


#806

Here’s the latest newsletter I just got from the machine himself.


#807

wow 機器陳


#808

I knew it would go 500k over for sure just wasn’t sure the final price


#809

@Esfgiants,

I’ve already posted this on my Case Study thread but it is worth repeating!!! Over 2M for Outer Sunset!!!


#810

Boom!!! Inner Sunset fixer goes for 1.41M!!!


#811

Only?


#812

Come on now…gut job fixer and you want more than 1.41M??? This is not Outer Sunset, man…


#813

I thought inner is pricier than outer but looks like its reversed. Oh well… you win some you lose some :wink:


#814

It typically is (Inner > Outer) but I am sticking by my theory that people want to be really close to amenities like restaurants and groceries within walking distance.


#815

The Sunset is just flaming hot!!! Of the Top 10 OVERBIDS now, SIX are Sunset related (I included the Ulloa one, close enough…). I mean just look at the Days On Market…my lord, two weeks maximum essentially anywhere in the Fab 7x7!!!


#816

Overbids don’t mean a thing when they purposely listed low…what a joke.


#817

Excuse my language, but some of it is re agent self-satisfaction: they get to say they sold over 50% over listinf.


#818

More like hyping the market so they can earn more $.


#819

Yes, but look at the size of the properties. Most of all these are smallish in size or # of rooms. That one on 17th is a 2/1 and it goes for 1.81M? Same with 27th Ave, 2/1 going for 1.48M. At the end of the day, it is still the final sold price that the gavel comes down on and these prices are quite good.


#820

Wow how about this 2/1 in OUTER SUNSET for 1.628???


#821

Yes, very nice. Marina style front living room with the fireplace. Now, I can’t tell but it looks like that light well on the right is somewhat wasted. From the plans, that is not an exterior stairway right from the other side (kitchen has a window)? Couldn’t they have pushed that out to add a tad to the kitchen?


#822

How’s your house hunting coming along ? Anything close?


#823

Actually, I pulled it off already, I found a home in San Bruno in which the seller was willing to work with me on an exchange. To be fair, asking price is at or near a premium but not by Zillow’s estimation or recent sales figures. Generally, price is about right and more than fair just for the cooperation alone. The ironic thing is, Oakland sold faster than I expected or was fearing, in a matter of days not weeks. Net proceeds from sale is at the exchange intermediary waiting for second half of the ballgame to finish up. We have a slight road bump but it is a negotiation issue really (seller may not want to pay the full cost of repair or may insist on half/half which I am probably ok with). My understanding is that I can say no to the San Bruno deal if I want to due to inspection finding. Sooo, what happened is that my friend told me of a vacant lot next to his thriving business in San Francisco that could be a big money maker and it is available for sale potentially. If I can buy that instead, I can flip to the developers and make a nice profit fairly quickly. I am calling everyone I know, my Big Bro, the permit expediter, my family friend the flipper and my retired architect classmate for help on this. Everyone seems to be on vacation though due to Spring Break or this time of year. This is moving fast as people are sniffing around and we want to jump on the opportunity if it makes sense to financially. My wifey is not happy with this development since she likes the house but like I told her, imagine if I make another few or half million dollars practically immediately, that would mean a way nicer home say in Millbrae. So, yeah, that home equity line I got for a rainy day could help bridge and make this work. Oh, need to call my IRS buddy to confirm exchanging for a commercial lot is ok or not…