Too Cheap (Sunset)

I think you can get that one for around 700k if you negotiate hard enough. Sellers are desparate. That would be a 10% discount from the original listing price.

See, even The Front Steps is waxing about the virtues of the Sunset becoming of ageā€¦

Take it a step further and think about the ā€œOuterā€ Avenues. The Western shore of San Francisco. The ā€œOuterlandsā€. The sand dunes. The desolation. The edge of the Continent. The place nobody wanted to be, because it is ā€œalways foggyā€ (When I have listings out this way, people actually come up to me and ask, ā€œIs it ever sunny out here?ā€ā€¦no joke). As it turns out, itā€™s the most popular place to buy in San Francisco at the moment (close second would be Bernal Heights). Why is that? Itā€™s one of the few areas in San Francisco you can still get a single family home under $1.3Mā€¦barely.

Think back to 2014 when the average home in the Outer Avenues could be had for under $900,000 , and look at the four overbids on this top 10 list in the avenues, all trading well over $1.2M. Itā€™s nuts! But itā€™s reality.

As a reference point, to make sure I wasnā€™t delusional, I pulled the averages for the Outer Sunset and Outer Parkside 2014, 2015, 2016, and 2017. Have a lookā€¦

Type Units Sold | List Price | Sqft | LPPSF| DOM | Sales Price | SPPSF

Type Units Sold | List Price | Sqft | LPPSF| DOM | Sales Price | SPPSF

Single-Family | (142) | $759,918 | 1358 | $595 | 34 | $854,982 | $670
Single-Family | (142) | $844,974 | 1365 | $645 | 25 | $1,012,097 | $771
Single-Family | (141) | $918,479 | 1398 | $689 | 29 | $1,080,833 | $808
Single-Family | (28) | $910,195 | 1237 | $778 | 31 | $1,076,107 | $906

Itā€™s all very interestingā€¦
Units Sold ā€“ almost identical every year.
List price ā€“ Creeped steadily up.
Average size of the home ā€“ down.
List Price ā€“ Up.
Days On Market ā€“ Hovering around 30.
Sales price ā€“ Climbing (remember 2017 is not even close to done).
And the last and easy to decipher for even the most data challenged person (like myself) Sales Price Per Square Foot ā€“ up nearly $240 per square foot on average.

Moral of the story, itā€™s hot in the Avenues right now.

Four of the top five overbid sales mentioned:

Weā€™ve discussed it. What is the common theme in some of these overbids? Tunnel entrances (3) and THE MACHINE (keep in mind he had way more sales that just didnā€™t make the overbid list)

How far do you take the T rule. .Does it apply to a house at the end of a cul de sac ?

The worst part of a T house is the car lights shining through your house and of course the risk that they run right into your houseā€¦Less chance in a cul de sac

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Yes the rule does apply to cul de sac. If you donā€™t mind the rule then try out the house in Walnut Creek! Cheapest deal there, sellers desperate, open house this weekend!

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Ok, Outer Sunset with center patio goes for 1.35M!!!

Seriously? Lipstick on a pig no work done to kitchen and bath outer sunset sold for 1.35M! Ok, what next? :slight_smile:

Pended, of courseā€¦

Here is a nice one, @manch

This one can sell over $2M easy.

Yes, it shouldā€¦which would go a long way to getting that inner vs central/outer pricing straightened out for onceā€¦

So itā€™s the same price as a Bayview condo. Not impressed.

https://www.redfin.com/CA/San-Francisco/1947-Oakdale-Ave-94124/unit-1/home/113438005

So snobby! :slight_smile: I think only a $5M dollar house on Pacific Heights or Atherton can impress people these days.

Wow, talk about a DOUBLE NEGATIVE!!!

And people are paying 1.5 for it. :fire: :fire: :fire:

This one our Fearless Leader just posted about in a separate thread. It is nice and I am thinking should go easily over 2M also. But @wuqijun, would you take this cute one or the one with the views?

And there is a saying about a fool and his moneyā€¦

Hard to decide. They both look great. I would take neither of course. Why give away money to people when you can save that for your own use. Always buy a fixer.

My lord, can you stop being Chinese for onceā€¦just once? Pick a damn house!!!:slight_smile:

Ok I would buy the 12345 as primary residence and the house w/view as secondary vacation home.