It’s Friday, that can only mean one thing on theFrontSteps…Overbids. This week’s top dog is 620 Victoria in Ingleside Terrace, a 3 bed, 1.5 bath, 1512 square feet single family home listed for $899,000 and sold for $1,300,000, which, according to marketing remarks, is “Habitable, but could do with updating”. That’s $859 per square foot in Ingleside Terrace. Just sayin’:
| Address |
BR/BA/Units |
DOM |
List Price |
Sold Price |
Overbid |
|
|---|---|---|---|---|---|
| 676 Capp Street | 3/1.50/N/A | 12 | $1,300,000 | $2,300,000 | 76.92% |
| 27 Cutler Avenue | 3/1.00/N/A | 20 | $569,000 | $880,000 | 54.66% |
| 1400 35th Avenue 1402 | 2-4 Units | 14 | $799,000 | $1,220,000 | 52.69% |
| 2080 14th Avenue | 3/1.00/N/A | 13 | $899,000 | $1,302,080 | 44.84% |
| 620 Victoria Street | 3/1.50/N/A | 11 | $899,000 | $1,300,000 | 44.61% |
| 560 Missouri Street | 2/2.50/1 | 14 | $995,000 | $1,402,560 | 40.96% |
| 1651 Treat Avenue | 3/1.00/N/A | 12 | $1,295,000 | $1,810,000 | 39.77% |
| 1257 Noe Street | 3/2.00/N/A | 11 | $1,899,000 | $2,653,000 | 39.71% |
| 1779 8th Avenue | 3/1.50/N/A | 13 | $1,295,000 | $1,800,000 | 39.00% |
| 12 Carson Street | 3/2.00/N/A | 10 | $1,649,000 | $2,260,000 | 37.05% |
Why is 620 Victoria the Maximum Overbid and not 676 Capp? Well..it’s sort of complicated, but essentially that’s because we (the Goods) automate this top 10 list based off of the properties sold within the past two weeks on MLS, but here on theFrontSteps I run it every week. So if a property closed two weeks ago, and is still a top dog, it will still appear on the top 10 list for this week. We do this because not everyone reads the overbids every week, and not all of our Goods clients send this data to their clients weekly. In addition, on the Goods we run a top 20 list. Here on theFrontSteps I like to see what it takes to get knocked off the list. Make sense?
Another thing to note is many Maximum Overbid winners are fixers, remember this one? Why do you think that is? It’s pretty simple. When you’re faced with marketing a property for sale that could either be totally undesirable (barely livable), or totally in demand (still barely livable but in an epic location, has views, expansion potential, etc.), pricing becomes tricky. So…list low and let the buyers take it to market price, which usually means way over asking. You cannot list too low in San Francisco, but you can definitely list too high.
Don’t miss next week’s Overbid! Subscribe to receive theFrontSteps via email using the form below. And contact me if you’re thinking about selling. I know all the tricks of the trade.
Have a great weekend.