The market is cooler…no doubt.. Is it seasonal, or longer term? Time will tell. As you saw last week, Overbids are still rampant, but more and more emails are coming to me, “Still Available”, “Offers as they come”, “Motivated Seller”, etc. Could we be approaching the year of the buyer?
Out of the 10 Underbids featured, 4 are multi-unit buildings, which made up the 1st, 2nd, and 3rd place on our list. The #1 underbid goes to a Bernal Heights duplex – a “Tremendous Bernal Heights Fixer” to be exact, 15 Prospect Avenue, which just closed 20% under asking or at $950,000 from its $1,199,000 list price. Looks like my buddy Eddie O’Sullivan got his clients a nice little project. Well done lad…
As for the rest, this is how it stacked up.
| Address |
BR/BA/Units |
List Price |
Sold Price |
Underbid |
|
|---|---|---|---|---|
| 15 Prospect Avenue | 2-4 Units | $1,199,000 | $950,000 | -20.77 % |
| 622-626 Buchanan Street | 2-4 Units | $1,399,000 | $1,250,000 | -10.65 % |
| 161-165 Cook Street | 2-4 Units | $2,395,000 | $2,150,000 | -10.23 % |
| 2287 16th Avenue | 4/2/2 | $1,388,000 | $1,250,000 | -9.94 % |
| 301 Mission Street #49D | 2/3/2 | $4,588,000 | $4,180,000 | -8.89 % |
| 2829-2831 Pierce Street | 2-4 Units | $2,970,000 | $2,750,000 | -7.41 % |
| 3260 Baker Street | 3/2/2 | $2,999,000 | $2,800,000 | -6.64 % |
| 1308 Valencia Street | 4/3.5/1 | $2,499,000 | $2,350,000 | -5.96 % |
| 265 Minerva Street | 2/1/1 | $699,999 | $659,000 | -5.86 % |
| 2869 Broderick Street | 4/3/2 | $3,500,000 | $3,300,000 | -5.71 % |
For more Good Real Estate Stuff…check out The Goods.
Love the underbid posts! Keep ’em coming. It’s giving all of us a glimmer of hope!