At what point do you, dear fellow colleague and wonderful real estate companion, stop and say, “Okay, maybe I under-priced this property a bit, so I’ll just go ahead and raise the marketing price $100,000 now, so I don’t make a lot of agents and their buyers think they stand a snowball’s chance in hell of getting this property?”
Case in point, 139 Corbett, a Single Family Home in “Corona Heights” (we can just call this almost heart-center Castro), with three bedrooms, two baths, two car parking, expansion potential down, a yard, and big (nay, fantastic) VIEWS of Eureka Valley/Castro…asking $799,000:
There were 30+ offers! My client offered $932,000 and wasn’t even close. It’s certainly going to sell over $1,000,000, and I’d even guess a sales price close to $1,100,000…but “comps supported” a $799,000 list price? Really? Do you need 30 offers? Wouldn’t 10, or even two, offers be just as good?
Maddening. Truly maddening.