The San Francisco County Treasuer is auctioning 87 tax defaulted properties on Monday, April 21st, at 8 a.m. PST. Thus far, 3 canceled and 84 are available for sale. Of the 84 available for sale, the majority is vacant residential land. The second majority is under water lots. There are 3 vacant commercial lots. There is one timeshare. All single family homes redeemed or were withdrawn.
Registration to bid at the auction ends Friday, April 11th, at 5p.m. PST. The cost to bid is $5,035. You pay a refundable deposit of $5,000 plus a non-refundable administrative fee of $35. Your deposit is included in your bidding funds. If you do not bid or you do not win, the county refunds your deposit. Go to https://sanfrancisco.mytaxsale.com/ to complete your bidding registration.
The average minimum bids are:
- $16,207 for Vacant Residential Land
- $11,777 for Underwater Lots
- $10,991 for Vacant Commerical Lots
- $1,652 for Timeshare
We estimate average competitiveness per property zone at 3x. This means we estimate that the average winning bid will be three times the minium bid. This estimation is a benchmark to test actual results. We will write a follow up article after the sale to compare our estimate of the average minimum bid to the actual tax auction price.
Compared to historic tax auction prices, this year's tax sale favors vacant residential land investors. As the San Francisco Planning Department continues their state-mandated goal to build 82,000 new residential units by 2031, vacant residential land investors are well positioned for long term gain.