Maximum Overbid: A Parkside Puzzle

Overbids can be a surprisingly sensitive topic.

For example, a while back, the buyer of one of our previously featured weekly overbids pointed out that the realtor of that property intentionally priced it low, and argued that we should talk about this practice when highlighting overbids.

The truth is, we’ve brought that subject up many times before, but we don’t cite it each and every week–partly because, while we may have our suspicions, it’s often hard to be completely sure when someone really low-balled the asking price or not.

Take this week’s top overbid, a very pretty two bed, two bath piece of work at 2372 15th Avenue, which cleared more than $2.41 million and more than 51 percent of the list price in less than two weeks.

Now, we will admit, that initial price of just under $1.6 million is a little intriguing: In December, the median price of a house in all of San Francisco was $1.69 million, and in January $1.63 million.

Now, do we imagine that a savvy realtor really looked at this roomy and very beautiful Parkside property and thought it was just below average?

Probably not very likely. Not very likely at all.

But…people are fickle. So you never know.

AddressBR/BA/UnitsDOMList PriceSold PriceOverbid
2372 15th Avenue2/2/N/A12$1,595,000$2,412,00051.22%
41 Montezuma Street2/2/N/A11$1,498,000$2,210,00047.53%
1766 27th Avenue4/4/N/A9$1,595,000$2,305,00044.51%
2058 36th Avenue3/2/N/A13$1,195,000$1,705,00042.68%
2330 27th Avenue2/1/N/A14$1,095,000$1,555,00042.01%
452 Chenery Street2/1/N/A9$1,198,000$1,700,00041.90%
217 Gold Mine Drive4/3/N/A4$2,549,000$3,550,00039.27%
471 23rd Avenue2/1/412$799,000$1,105,00038.30%
452 Ulloa Street4/3/N/A11$1,995,000$2,754,37538.06%
923 Edinburgh Street4/5/N/A12$1,628,000$2,190,00034.52%

As always, if you have any questions you can contact us directly, or throw them in the comments below. Make sure to subscribe to this blog, or follow us on social media @theFrontSteps too. And please do consider giving us a chance to earn your business and trust when it’s time to buy or sell Bay Area property. People like working with us, and we think you will too.

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