With so many great pictures from which to choose, how do you pick just one? You don’t. You must see to believe… 18 Prospect, a 3 bed, 1 bath, single family in Bernal Heights takes this week’s Overbid cake giving new meaning to the term “development opportunity”.

Listed at $829,000 and SOLD for $1,250,000 (cash of course), it should come as no surprise it gets top Overbid honors. How do you price the ultimate fixer? You price it low, and let it go. Whether it comes with a kitchen and bath, or not, is up for debate. Looks like neighbor building is next.

Address BR/BA/Units DOM List Price Sold Price Overbid
18 Prospect Avenue 3/1.00/N/A 11 $829,000 $1,250,000 50.78%
185 Stonecrest Drive 3/2.00/N/A 13 $998,000 $1,388,000 39.08%
1771 39th Avenue 3/2.00/N/A 27 $849,000 $1,170,000 37.81%
627 46th Avenue 2/1.00/N/A 13 $799,000 $1,061,000 32.79%
1355 Holloway Avenue 2/2.00/N/A 14 $988,888 $1,308,500 32.32%
4130 21st Street 2/1.50/N/A 12 $1,298,000 $1,710,000 31.74%
2750 Harrison 3/2.00/top 8 $1,050,000 $1,380,000 31.43%
2829 California Street 2/2.00/4C 15 $1,899,000 $2,455,000 29.28%
336 Jules Avenue 2/2.00/N/A 16 $798,000 $1,030,000 29.07%
320 Alabama Street 2/2.00/15 11 $1,048,000 $1,350,000 28.82%

It’s important to note, these properties had largely gone into contract a few weeks (or more) ago…there is potentially a shift in the tide happening at the moment. We are seeing more properties set offer dates and not receive any. Price reductions are starting to happen, and the behind the scenes pleading from my colleagues to “bring your buyers, motivated sellers” are increasing. Could we have reached the peak? Time will tell. For now, there are still far too many buyers for the limited amount of property available, so any change ain’t happening overnight, but it might be happening.

Stay tuned…

San Francisco New Listings, Recent Sales, Overbids, Underbids and more [theGoods]

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s