I’m going to make you cry…and then I’m going to make you cry more. Here’s how:
Last sold in 2007 for $995,000, 1477-1479 Guerrero just clinched this week’s top spot on the list of insane overbids coming in a meager $705,000 above the $995,000 asking price (note…same asking price as selling price in 2007) and closing for a cool $1,700,000. It might even come with this guy:
If that doesn’t make you cry, or at least make your head spin, this will. According to MLS, this property was marketed only two years ago in June of 2013 at $1,295,000 with the EXACT same marketing spiel (including proximity to tech shuttles), same great photos, same great tenants, but it didn’t sell and was pulled off the market a short time later. Fast forward two years, add $500,000 and it’s sold! The Maximum Overbid of The Week.
As for the top 10, here you go:
| Address |
BR/BA/Units |
DOM |
List Price |
Sold Price |
Overbid |
|
|---|---|---|---|---|---|
| 1477 Guerrero Street 1479 | 2-4 Units | 8 | $995,000 | $1,700,000 | 70.85% |
| 734 39th Avenue | 4/2.00/N/A | 12 | $1,049,000 | $1,550,000 | 47.76% |
| 139 San Leandro Way | 4/2.50/N/A | 9 | $1,895,000 | $2,635,000 | 39.05% |
| 4301 Cesar Chavez Street | 3/2.00/N/A | 2 | $1,795,000 | $2,380,000 | 32.59% |
| 1919 Jennings Street | 2/1.00/N/A | 22 | $495,000 | $655,000 | 32.32% |
| 935 Avalon Avenue | 2/1.00/N/A | 26 | $669,000 | $870,000 | 30.04% |
| 3519 Lawton Street | 3/2.00/N/A | 14 | $925,000 | $1,200,000 | 29.73% |
| 1726 48th Avenue | 4/3.00/N/A | 12 | $829,000 | $1,050,000 | 26.66% |
| 4010 San Bruno Avenue | 3/1.50/N/A | 15 | $699,000 | $880,000 | 25.89% |
| 1001 Portola Drive | 3/2.00/N/A | 27 | $995,000 | $1,250,000 | 25.63% |
Keep in mind these properties got into contract on average 30 days ago. There might be a little shift in the market happening, but we’ll have to wait a bit to see. A note to you buyers…if a property is on the market, has an offer date, doesn’t get offers, then reduces their price, and your agent advises you to come in OVER asking (often times over the original list price), find out what they’re smoking, because I want some.
Have a great weekend!