San Francisco homebuyers have officially lost their minds

Getty Images; Tyler Le/BI It was late January when Bill Law realized something had shifted in San Francisco's real estate market. That month, the longtime tech worker and his wife submitted an offer on a $1.3 million home in the Sunset District, a west-side neighborhood that boasts good schools and easy access to both the ocean and Golden Gate Park. Hoping to stand out from the house-hunting scrum, the couple offered $300,000 above the asking price. They didn't come close. The winning bid of...