It’s Friday, that means it’s time for the Top 10 Maximum Overbids of the week. As usual, there are some doozies, but nothing I would consider ultimate shockers like a few of the last weekly Top 10’s we’ve seen. The number one spot goes to the “Contractor’s Special” on Nevada in Bernal Heights that fetched 65% over (totally in line with market sales price, and not easy to price this type of property). The number 10 spot goes to my clients that finally won after so many years searching – 538 Baker in NOPA that was “only” 32% over asking and the winner out of 15 other offers, two of which were actually higher than ours and all cash. We had a loan. But we “won”.
Anyhow, on with the show. The Top 10 Overbids for San Francisco this past week:
| Address |
BR/BA/Units |
DOM |
List Price |
Sold Price |
Overbid |
|
|---|---|---|---|---|---|
| 270 Nevada St | 1/1.00/N/A | 14 | $530,000 | $876,000 | 65.28% |
| 866 Cayuga Ave | 4/3.00/N/A | 20 | $928,000 | $1,380,000 | 48.71% |
| 27 Day St | 3/1.00/N/A | 43 | $895,000 | $1,310,000 | 46.37% |
| 1271 15th Ave 1273 | 4/3.50/ | 13 | $1,795,000 | $2,550,000 | 42.06% |
| 307 Parker Ave | 3/2.00/N/A | 13 | $1,250,000 | $1,710,000 | 36.80% |
| 25 Miraloma Dr | 3/2.00/N/A | 10 | $1,050,000 | $1,420,000 | 35.24% |
| 1150 Holloway Ave | 2/1.00/N/A | 35 | $889,000 | $1,200,000 | 34.98% |
| 320 Castenada Ave | 3/1.50/N/A | 26 | $1,695,000 | $2,250,000 | 32.74% |
| 471 Hickory St | 2/1.00/N/A | 5 | $1,060,000 | $1,400,000 | 32.08% |
| 538 Baker | 2/1.50/N/A | 11 | $948,000 | $1,250,000 | 31.86% |
On a side note, one of my listings will hopefully be closing today, and believe me when I say we knocked it out of the park. Will we make the Top 10? No, but maybe we’ll scratch into the Top 20.
If you’re curious what your property might sell for, give me a shout.
Have a great weekend!
–Top 20 Overbids Delivered to Your Door (Inbox) [sfnewsletter.com]
–Are Overbids A Result Of Intentional Underpricing? It’s Competitive Pricing [theFrontSteps]
–Top 20 Underbids [sfnewsletter.com]
Why would this happen? Emotional letter from your buyers? Seems to run counter to logic. “the winner out of 15 other offers, two of which were actually higher than ours and all cash. We had a loan. But we “won”.”
Hi Kevin,
It was a letter to sellers. Buyers meeting the listing agent. Buyers meeting the sellers. Presentation in person of the offer. Working with a mortgage broker I knew would get the deal done, and having him contact the listing agent. My reputation also came into play, and I made a point to get to know the sellers too.