22 Responses to “Please overbid on this San Francisco house”

1. palo alto resident Says:
   October 15th, 2009 at 8:12 am

   The way a probate sale works is that the trustee/seller gets into contract with a buyer. Then the contract has to go before the courts and require court confirmation of the price/sale. At that time, competing buyers can attend the trial and bid over the current contract price. The minimum overbid increments are determined in advance.

   However, you usually only see this terminology and overbid price set once a property is in contract, but the property is shown as “active” which doesn’t make a lot of sense to me, unless the minimum amount the courts will accept for the home has already been determined, and the agent is spelling out what the next bid will have to be.

2. bob Says:
   October 15th, 2009 at 8:15 am

   That looks like some serious mold or water damage on those walls. Either that or the old farts that owned this have lived in it for 50 years and never bothered to repaint the interior.

3. palo alto resident Says:
   October 15th, 2009 at 8:39 am

   That living room picture is disgusting. That place is going to need atleast 30k of work for mold remediation and resheetrocking of the walls.

4. Joe Says:
   October 15th, 2009 at 8:48 am

   Zillow Estimate for this place 10 years ago, $361k.

   Let the overbidding begin

5. Living in SF Says:
   October 15th, 2009 at 10:52 am

   Probate sale is like an auction. Think of the accepted contract price as the first bid. In SF, the standard practice for the next bid (the second bid) is the 1st bid + 5% + $1000. From there, it’s an increment of $1000 for every bid. The last man standing (auction winner) has to pay a non-refundable 10% deposit right on the spot. All sales are final with no contingency. You can work the math and see that the accepted contract price is around $675,000. If no one put up a second bid then the house will be sold at that price.

   There are two bathrooms in the house, but one bathroom is unwarranted (illegal). And I’m guessing the entire inlaw is also unwarranted.

   If you want to know why only $300 in rent for an inlaw, google “rent control San Francisco.”

6. anon Says:
   October 15th, 2009 at 11:11 am

   lol “first overbid amt”

   Please, someone buy this trash.

   At 709k, it would be roughly $3500/month. $300 of which is covered by the rent, so that leaves only $3200/month for an owner to pay.

   What a steal!

7. no estater Says:
   October 15th, 2009 at 11:33 am

   It IS a steal! It’s so close to Golden Gate Park; that’s worth $500k right there.

8. Living in SF Says:
   October 15th, 2009 at 12:15 pm

   It is actually in a pretty good location. It’s close to the N-Judah but far away enough that you shouldn’t hear the light rail noise. It’s just around the corner from the shops and restaurants on Irving. It’s not too far to the west and of course it’s close to GG Park. I’m typically not a fan of the Sunset but there are a lot of Sunset lovers here in SF.

   Below $700k would be a good deal. $709k is an ok deal. Anything in the mid-$700k would be pushing it. But I can see someone falling in love with the location and pay somewhere in the mid-$700k for it.

   If I’m the buyer I’d Ellis Act the tenant and get the whole house to myself. It’ll cost about $20k of attorney and tenant relocation fees but it’ll be worth it not having to deal with a protected tenant paying peanuts in rent.

9. nomadic Says:
   October 15th, 2009 at 12:58 pm

   If I was the buyer, I’d take up tuba. Or drums.

10. A. Lewis Says:
    October 15th, 2009 at 1:14 pm

    #2: It’s both.

11. A. Lewis Says:
    October 15th, 2009 at 1:14 pm

    #9: I’d take up both.

12. UnrealAlex Says:
    October 15th, 2009 at 1:28 pm

    $300 a month, that’s a Tenderloin room rate but being so close to GG Park, that’s prime panhandling, spanging, drug-dealing, or if one ever shows u, working a job territory.

13. UnrealAlex Says:
    October 15th, 2009 at 3:29 pm

    I need to move in somewhere in SF then get Ellis Acted. That’s a life-changing amount of money for me. $20k = Chapter 7 BK fees + EMT-B school + new Harley* + IRS’s bite.

    *The 883 Iron is about 9k new and I’m sure I can pick up a “practically new” one for 7

14. nomadic Says:
    October 15th, 2009 at 4:22 pm

    Forget the Harley – the lawyer will get at least that much.

    Hey, you just gave away the “secret” trade you’re learning. Should be a good one.

15. UnrealAlex Says:
    October 15th, 2009 at 11:12 pm

    Nomadic – So I did, so I did. That wasn’t very smart. People do NOT like to see others get ahead, that’s one thing I’ve learned, and it’s a stronger urge to keep another from getting ahead in a Depression.

    It was mind-twisting to see, during an unfortunate period last year where I was a panhandler, that most wanted me to stay in that job! The homeless and panhandlers, spare-changers seem to provide a “service” in that they make those still employed and housed feel good about their own situation. Take all the homeless and give them homes, give the panhandlers jobs or trades, get them all a basic decent bread-and-butter existence, and you’ll see a lot of unhappy smug types who’ve lost these emotional punching bags.

    Well F.U. all at least there are several schools and I could be at any of them, and my hard work and funding circuit is relatively closed so I actually can’t see how it could get fucked with.

    So at least *some* of you out there will just just have to suck it, I’m NOT homeless, picking up cans, or sitting around “studying” the inside of a crack pipe, instead I’m embodying your worst nightmare, a fairly smart, fairly hardworking person getting back on their feet.

16. karen Says:
    October 16th, 2009 at 4:46 am

    unreal alex – people often don’t want other people to get ahead OF THEM. however, people often are happy to see others get ahead from one position to another below them. so a society matron is delighted when she helps her cleaning lady become a LPN. now if her cleaning lady married someone better off than the society lady’s husband – THAT would be a PROBLEM.

    my mom is like that in some ways – she takes destitute younger women under her wing, and helps them advance. she helps them with health bills and classwork and finding cheap dental care and resume writing (she’s not rich at all; just a solidly middle class small town retired schoolteacher). she’s genuinely thrilled when something works out for them. now if they took off like rockets and ruled the world – well I’d *like* to think she’d be thrilled. I don’t know.

    I also think that when people get what they want, they don’t resent when other people do well – even if the other people go further than they themselves do. it’s worked that way for me. since I’ve gotten the overall life I’ve always wanted, I’m perfectly happy when other people go way ahead of me in any area. in fact, as long as they’re not selfish jerks, I’d much rather they got ahead.

    this is all probably easier if you don’t have kids whom you want to succeed vis a vis other people’s kids. I don’t have kids, and frankly I don’t care if someone thinks my ancient corgi mix is, um, mentally challenged. and incontinent. and somewhat flatuent.

17. nomadic Says:
    October 16th, 2009 at 8:48 am

    …instead I’m embodying your worst nightmare, a fairly smart, fairly hardworking person getting back on their feet.

    Not a nightmare in the least. You won’t get any competition from me in that field either. I’d much rather every able-bodied person have a job at a living wage than see tax money going to welfare programs that enable someone to study the inside of a crack pipe, as you say. You are quite the cynic.

    That said, I can see a lot of truth in karen’s post. Maybe that’s because I don’t have kids either. (shrug)

18. Danny Boy Says:
    October 27th, 2009 at 11:31 am

    One thing no one has mentioned is that this property is across the street from an entire block of stunning Rousseau houses. Having a view of Oliver Rousseau’s beautiful architectural gems is a huge plus for this property. Furthermore, being across the street from Rousseaus positively affects the value of this property. Also, yes, it is approx one block from the N-Juday and a mere 2 blocks from GG Park. If you’re gonna be in The Sunset, being in or around Rousseau houses, near GG Park and East of Sunset Blvd is the way to go.

19. Danny Boy Says:
    October 27th, 2009 at 11:35 am

    By the way, I read one of you saying that there is drug dealing and panhandling in the area because it’s near GG Park. I live in this area of The Sunset, in a Rousseau style house and there is NOT pandhandling or drug dealing at 29th Avenue where it intersects with the park. Besides that, the property we are discussing is 2 blocks from the park.

20. anon Says:
    October 27th, 2009 at 12:09 pm

    Gosh Danny Boy, what a plus it must be to be able to see our Rousseau style home from the listed home. That’s worth a cool mil in and of itself!

    While this property may not be special, the fact that it can see special properties (such as yours) makes it special all on its own!

21. Danny Boy Says:
    October 28th, 2009 at 11:03 pm

    Anon, I don’t live on that street. I live three blocks from there. Best regards.

22. anon Says:
    October 29th, 2009 at 12:51 am

    Well, I suppose there is no redeeming quality to this house then.

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