If you’ve been reading Maximum Overbid for a while then you know that you can’t take every home sale at face value.
Case in point, our top overbid of the week is a choice three bed, three bath house at 929 Diamond Street in the Noe Valley Hills, which was only on the market for a week before its final sale price vaulted to $2.8 million, up from a $1.65 million asking. This for a house that last sold in the distant era of the year 2000 for a mere $690,000.
So that’s a sale story that has it all, beginning, middle, end, and a dramatic reveal included. But it’s not the full story, because this is not the first time they tried to sell this house.
It first hit the market in summer of 2021, asking $2.59M. When nobody bit, they chopped a few hundred thousand dollars off, but that didn’t draw either.
Finally the house delisted six months ago, reappeared this month with a dramatically lower price tag, and now sold for well more than what they were asking in the first place.
What happened? Well, it’s a weird one: Last year’s ad featured no photos of the home and almost no information about it at all.
They seemed to hope it would attract curious potential buyers just on the strength of the market and the neighborhood–which, to be fair, some sales actually do.
But sometimes it pays to do things the old-fashioned way–in fact, it paid several million dollars in this case.
|Address||BR/BA/Units||DOM||List Price||Sold Price||Overbid|
|929 Diamond Street||3/3/N/A||7||$1,650,000||$2,800,000||69.70%|
|30 Cunningham Place||3/2/||14||$999,000||$1,624,000||62.56%|
|1482 23rd Avenue||3/1/N/A||7||$1,395,000||$2,168,000||55.41%|
|2445 Vicente Street||3/3/N/A||18||$1,268,000||$1,961,000||54.65%|
|32 Cunningham Place||3/2/||35||$999,000||$1,515,000||51.65%|
|1954 24th Avenue||4/2/N/A||8||$995,000||$1,500,000||50.75%|
|4362 21st Street||1/1/N/A||7||$1,095,000||$1,610,000||47.03%|
|299 Tara Street||2/2/N/A||11||$949,000||$1,380,000||45.42%|
|5345 Anza Street||2/2/N/A||11||$1,195,000||$1,700,000||42.26%|
|1870 32nd Avenue||3/2/N/A||11||$1,495,000||$2,100,000||40.47%|
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