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Multiple Offers, Indeed

Why is it so hard to get your offer accepted? In the last 90 days, according to Redfin data, San Francisco homes have had an average of 8.5 offers, at a median offer price of 105.1% of the asking price. Ouch! Oh, and let's not forget an average downpayment of 30.6%. More proof, if you needed it, that buying a home in SF is not for the faint of heart. [Redfin]