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From 32% In NOPA To 65% On Nevada – San Francisco’s Top 10 Overbids

From 32% In NOPA To 65% On Nevada – San Francisco’s Top 10 Overbids

It’s Friday, that means it’s time for the Top 10 Maximum Overbids of the week. As usual, there are some doozies, but nothing I would consider ultimate shockers like a few of the last weekly Top 10’s we’ve seen. The number one spot goes to the “Contractor’s Special” on Nevada in Bernal Heights that fetched 65% over (totally in line with market sales price, and not easy to price this type of property). The number 10 spot goes to my clients that finally won after so many years searching – 538 Baker in NOPA that was “only” 32% over asking and the winner out of 15 other offers, two of which were actually higher than ours and all cash. We had a loan. But we “won”.

Anyhow, on with the show. The Top 10 Overbids for San Francisco this past week:

Address BR/BA/Units DOM List Price Sold Price Overbid
270 Nevada St 1/1.00/N/A 14 $530,000 $876,000 65.28%
866 Cayuga Ave 4/3.00/N/A 20 $928,000 $1,380,000 48.71%
27 Day St 3/1.00/N/A 43 $895,000 $1,310,000 46.37%
1271 15th Ave 1273 4/3.50/ 13 $1,795,000 $2,550,000 42.06%
307 Parker Ave 3/2.00/N/A 13 $1,250,000 $1,710,000 36.80%
25 Miraloma Dr 3/2.00/N/A 10 $1,050,000 $1,420,000 35.24%
1150 Holloway Ave 2/1.00/N/A 35 $889,000 $1,200,000 34.98%
320 Castenada Ave 3/1.50/N/A 26 $1,695,000 $2,250,000 32.74%
471 Hickory St 2/1.00/N/A 5 $1,060,000 $1,400,000 32.08%
538 Baker 2/1.50/N/A 11 $948,000 $1,250,000 31.86%

On a side note, one of my listings will hopefully be closing today, and believe me when I say we knocked it out of the park. Will we make the Top 10? No, but maybe we’ll scratch into the Top 20.

If you’re curious what your property might sell for, give me a shout.

Have a great weekend!

Top 20 Overbids Delivered to Your Door (Inbox) [sfnewsletter.com]
Are Overbids A Result Of Intentional Underpricing? It’s Competitive Pricing [theFrontSteps]
Top 20 Underbids [sfnewsletter.com]


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alexclark

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2 thoughts on “From 32% In NOPA To 65% On Nevada – San Francisco’s Top 10 Overbids”

  • Kevin

    June 17, 2014 at 1:04 pm

    Why would this happen? Emotional letter from your buyers? Seems to run counter to logic. “the winner out of 15 other offers, two of which were actually higher than ours and all cash. We had a loan. But we “won”.”

    Reply
    • thefrontsteps

      June 17, 2014 at 9:10 pm

      Hi Kevin,

      It was a letter to sellers. Buyers meeting the listing agent. Buyers meeting the sellers. Presentation in person of the offer. Working with a mortgage broker I knew would get the deal done, and having him contact the listing agent. My reputation also came into play, and I made a point to get to know the sellers too.

      Reply

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