Where readers ask and we try to answer:
1474 17th ave was sold on 1/25 for $1mm (3000sqft duplex), but I did not see anything in MLS or any other signs of activity, nor was there any trace of it in the sfnewsletter. Was this a pocket listing? The price seems to be very reasonable, so under what situations would the seller be willing to let it go at that price without inviting any public offers?
Sellers do crazy things sometimes, and maybe that was the price they wanted…a cool million.
Regarding the sfnewsletter question. sfnewsletter pulls data directly from MLS, so if it was not in MLS, it will not be on sfnewsletter’s reports…yet. (For those not receiving sfnewsletter, this is an example of the report this reader is referring to. sfnewsletter does the same report for just sold.)
Beyond that, you’ve stumped us. Maybe some readers know what happened with this property. According to propertyshark.com, it did indeed sell as you mentioned, but MLS is empty. Our web is only cast so far. Readers?
And weren’t we just in that area?
Perhaps we should ask the question, “When is the selling price NOT the selling price?”
Could it be that it’s an insider sale — like the seller sold it to the sister in law of some relative? Could it be it’s an under the table deal to keep the sale price low to avoid high property tax but the seller is paid in cash beyond the recorded sale price anyway?
In situations like these, where the sale price looks somewhat suspicious, do the appraisers generally look into it before they decide if they want to include this transaction in their comps calculation?