“The two-bedroom Noe Valley house had an unorthodox layout and looked like a 1980s Tahoe cabin.
Taking those flaws into consideration, Realtor Bernard Katzmann listed it for $1.1 million at the inauspicious sales time of Thanksgiving. Then he watched in amazement as 22 offers came in – many for all cash – and it ended up selling for $1.54 million.
“Lots of tech companies were represented” among the bidders, he said. “I heard that many buyers want to get in now before Facebook goes public (and spawns scores of new millionaires), which is pushing demand.”
In a still-moribund real estate market, Noe Valley stands out as a neighborhood buoyed by positive fiscal forces.”