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]