July 9, 2013

Updated: Bay Area Real Estate Bubble 4.0: Not Over. Nuh Uh Uh.

130708-28th-priceisrightThis weekend we featured a Murky News article claiming that frenzied overbidding on Real Bay Area homes was done. It wasn’t the only such piece claiming that RBA overbids out of suitcases full of cash were coming to a halt.  To which we say: Sure it is. Redfin is tracking the bidding wars, and they say it’s cooling off… outside the RBA.  Specifically, there are fewer multiple bid situations outside California, and in the Golden State, things have eased up a bit in the Southland.  But don’t worry.  It’s Still Special Here.

Let’s find out just how special with this home sent in by Burbed reader mtv-renter.

130708-28th-redfin440 28th St
San Francisco, CA 94131
Sold for $1,756,000

2 Beds
2 Baths
1,057 Sq. Ft.
$1,661 / Sq. Ft.
Built: 1910
Lot Size: —
Sold On: Jul 2, 2013
Status: Sold
Property Type: Attached, Full, Single-Family Home
View: Panoramic, Bay, Hills
County: San Francisco
Style: Victorian
Community: Noe Valley
MLS#: 408763

Much sought after charming single family home with spectacular southern views. Very bright and light. Main level features lovely dining area, spacious living room, office area, stunning remodeled granite kitchen and marble bathroom. Opening to a secluded charming backyard, perfect for entertaining. Second level features two bedrooms with original built-in dresser drawers. Fabulous, new bath with marble walk-in shower. One of the bedrooms overlooks the enchanting garden and the other captures the southern view. There is a lower level just waiting to be finished with great expansion potential!

130708-28th-bedroomTake it away, mtv-renter!

Oh holy hell, the good times are back!

I visited this place myself, but given the line out the door for the open house, didn’t even consider placing a bid. Good thing!

Asking price: $989k, sold for $1,756,000, that rounds up to 78%. This is an astounding $1,661/sqft.

It gets better,

last sold for $749,000 on Sept 24, 2010. That’s $1,007,000 in appreciation over 1012 days, or $995/day.

130708-28th-yellowEveryone should buy in San Francisco. Riches await!

But wait, there’s more!

It gets better, check out the buyer’s agent’s name:

Trim Wellbeloved, 
Pacific Union International
DRE #01209860

You know, we prefer to point ‘n laff at realtard behavior rather than their names, but in this case… well, there it is.  Meanwhile Burbed reader Petsmart Groomer notes that this house has come to the attention of SF Curbed.  Where, asks PG, is the million dollar upgrade?  After all, in 2010 it took 3 price cuts to finally change hands at… $749K despite appearing on television!

130708-28th-redfin2010440 28th St
San Francisco, CA 94131
Sold for $748,000

2 Beds
1 Baths
— Sq. Ft.
Built: 1910
Lot Size: —
Sold On: Sep 27, 2010
Status: Sold
Property Type: Attached, Full, Single-Family Home
View: Panoramic, Hills
County: San Francisco
Style: Victorian
Community: Noe Valley
MLS#: 370108

Big reduction. Please come see this Victorian Noe Valley Home as featured on the TV Show Sell This House. It has amzing Southern Hills Views. Two bedrooms and One Bath. Period detailing throughout the house. Near shops and restaurants.

Why that million dollars is clearly in the kitchen. The stainless steel fridge must be worth $400,000 all by itself.

130708-28th-kitchen-2010130708-28th-kitchen

130708-28th-redfin-restatedBunus: extra bathroom! That’s got to be the other $600,000!

Update 7/10/13: Seems the realtard made a little mistake with that sale price. It’s actually only $1,150,000. However, realtards typing in completely WTF numbers into listings is simply a different kind of Burbed win. So it’s all good, as long as you aren’t the realtard.

See the comments for more details. You should be reading comments on all our articles, anyway. You should be posting in comments, too. Don’t agree? Explain why! In our comments!

Comments (26) -- Posted by: madhaus @ 7:03 am






March 28, 2012

* * * NO MORE OFFERS PLEASE !!! * * *

120324-sf-sold-redfinHave you heard?  The housing market is hot, hot, hot!  So many finds have that red PENDING banner smacked across the first picture because there’s so little inventory available (see chart).  That means even a Burbed-worthy home may get more love from overbidders than from, well, Burbed.  You would not believe how many homes that belong on the front page are snapped up and have their listings wiped clean off Redfin before we can even get the IP wrapper off our email.

But that’s great news for you, Burbed readers!  If the market is this hot, that means more and more crapboxes will be listed with no attempt to put any lipstick on those pigs.  And that means we are assured there’ll be plenty of prime content!  Like today’s OMG THAT’S PENDING WTF? listing from Burbed reader Petsmart Groomer.  Thanks very much for this listing that left many parts in San Francisco.

1261 Sanchez St
San Francisco, CA 94114
$650,000

120324-sanchez-redfin

BEDS: 2
BATHS: 1
SQ. FT.: 885
$/SQ. FT.: $734
LOT SIZE: 1,999 Sq. Ft.
TYPE: Detached
STYLE: Cottage
STORIES: 1
YEAR BUILT: 1905
COMMUNITY: Noe Valley
COUNTY: San Francisco
MLS#: 40558309
SOURCE: EBRD
STATUS: Pending Court Confirmation
ON REDFIN: 66 days

* * * NO MORE OFFERS PLEASE !!! * * * Cute home with full garage/workshop. Backyard and patio. Loads of potential !!! Fixer, reflected in price. ..

120324-sanchez-porchHere’s a perfect example of a house that doesn’t need any effort by a listing agent.  It’s in Noe Valley, so just let the new buyer deal with any deferred maintenance.  What do you want, this place was standing when The Big One hit in 1906 and it’s still here!

This home requires Court Confirmation to sell, so buying it will require some legal advice as well.  And that’s not the realtard’s problem.  You want this house?  You should have been overbidding in January.

Now, a small amount of cleanup might be required.  Take a good look at these pictures, because the agent couldn’t even be bothered to move the smallest little distractions out of the framing.  What is up with all those bottles in the kitchen?  It doesn’t matter.  This market is HOT!

So, see if you can come up with a good story for each of these items.

120324-sanchez-tub120324-sanchez-kitchen120224-sanchez-sink

The rest of the photos are to assure you of Burbed’s Good Housekeeping “Tag of Approval.”  Some of you Negative Nellies might object that the living room and bedroom do not demonstrate good housekeeping at all.  But, ah, the garage!

image120324-sanchez-shelves120324-sanchez-garage

Comments (28) -- Posted by: madhaus @ 5:01 am

December 4, 2011

OMFG is this THE END of those %$#@ Zip Codes? Rly?

What with all the excitement from our Black Friday and Beyond DEALS, you may not have noticed that our last zip code installment finished out the 301-400 level of Forbes’ Most Expensive Zip codes.  You know what that means!

Yes, this article, the Bottom 100 of the 500 Most Expensive, is The End of the Delivery Route.  Really.  Well, until 2012, when Forbes puts out a brand-new list, but there’s a good chance the world will end before then.  There’s an even better chance that Forbes will only have 5 places on that list instead of 500, with all the mistakes they made this year.  So you’re going to want to pay attention to every single zippy digit in this last entry for 2011!  But first… here’s your chance to catch up if you missed the earlier entries in this exciting, edge-of-your-seat-on-the-mail-truck, most beloved Burbed series of all time!  (Or was that most belittled?)

Previous Entries in the Most Expensive Zip Code Series:

Hold onto your mailbags, folks!  We’re entering an area with all the median prices under $750,000!  Watch out, there may not be any sushi available.

#406: San Anselmo 94960

  • Median Home Price: $749,000
  • Median Price Change: -17.4%
  • Average Days On Market: 200 129
  • Inventory: 129 52
  • 2010 Rank: 267 (-139 spots )
  • Most Expensive Home: $20.5 Million

imageA $20.5 million dollar house in Marin makes sense, but in San Anselmo?  I can’t find anything for eight digits anywhere near San Pablo Bay, and this zip’s most expensive place at 178 W Oak Knoll Drive comes in at only $3.4 million.  That’s very different. This 6000 square foot hotel-like structure on almost 10 acres has been on the market for just about half a year, so you’d better hurry!

Now, we know plenty of high-end places get yanked at the end of warm weather season.  But I find the idea of a $20 million ask going without comment pretty unlikely.  This Marin real estate blog didn’t note it under San Anselmo.  Or anywhere else.  The most expensive sale logged in MLS this year was only $8.75 million, in nearby Ross (#30 last year and mysteriously absent this one).

Zowie!! More zip code inZanity after ze break!

(more…)

Comments (7) -- Posted by: madhaus @ 5:15 am

July 22, 2008

“No kitchen, no bath and the rear portion of the structure is falling off.”

Vanguard Properties: 469 Clipper St , San Francisco, CA 94114
469 Clipper St , San Francisco, CA 94114

Bdrms Bths Pkg Year Sq.Ft. HOA Price MLS#
0 1 2 1900 1,983 $0 $995,000 343307
Additional Info: Rare opportunity! One of two side-by-side properties for sale, each 30′ x 114′ and zoned RH-2. A large single-story vacant Victorian of 1896 sq ft (per appraiser) that has been deteriorating for years. No kitchen, no bath and the rear portion of the structure is falling off. There would be potential Downtown views from a second story. South garden. Walk to 24th St or Church St restaurants and shops. Near J-Church streetcar, walk to 24th St BART, near Douglass and Noe Courts Parks.

Thanks to Burbed reader Laura G for this find.

This, more than any listing as of late proves how amazingly freakin’ special the Bay Area is. You could only be so lucky as to own a home like this.

No kitchen, no bath, part of the structure falling off? Can you say instant equity?

Comments (47) -- Posted by: burbed @ 5:15 am