29offers.jpg

As promised, an update to our earlier post about the soggy, wet, home with a view in the Sunset that received 29 offers.

Asking Price: $629,000
Selling Price: $780,000
% over asking: 24%
$ over asking: $151,000
Listing Agent: N. Johnson*
Selling Agent: N. Johnson*

The Deets (to refresh your memory):

Built in 1939
3 beds/ 2 baths
1175 square feet
Asking Price: $629,000
Days on Market: 30 (from the day it went active to the day it closed)
Wet as a sponge (the entire house was moist and moldy)
Original condition and fixtures
Huge ocean views

The original post received a bit of attention which sparked some great conversation. Some folks that sent us emails were of the opinion that the home would have sold for the desired asking price should the agent have priced the property fairly from the get-go. They argued that by taking the fair market value approach, the agent could have alleviated the time and stress that buyers go through during a “bidding war.” Others believed that underpricing the home and staging such an auction would generate top dollar in the fastest manner; fair or not. For those with the latter opinion, I think you are correct as this home (in my humble opinion) was sold for more than it is worth (an economist would argue that the place is worth what ever somebody is willing to pay for it). Congratulations to the sellers and better luck next time losing bidders and losing bidders’ agents.

Note: the home received 29 offers and the listing agent also acted as the buying agent–something smells fishy and I’m not sure if it’s Ocean Beach.

1851 26th Ave [Home San Francisco]
Falling Over with 29 Offers [San Francisco Schtuff]
29 Offers!? (1851 26th Ave.) [theFrontSteps]

*Baseball players may have taken steroids and the agent may have seen the other offers

Image courtesy of SFARMLS