Wow, that has to be #1 on next week’s overbid list…
He and his mother, Tina Bartlett Hinckley, listed a home at 3610 Washington St. in Presidio Heights at $7.5 million on May 2. After getting seven offers, it sold on May 20 for $11.3 million — almost $4 million over the asking price.
Lower than zesstimate of $11.7 mil but higher than redfin estimate of $11.1 mi. Listed too low. Hence, there is no overbid. By now, I guess you know listing price doesn’t matter. In South Bay, listing prices are almost always below market price.
That’s fair, that that particular home should have been higher. But lately, we have been seeing luxury properties being marked down in order to sell. As the article indicated, that property was essentially perfect though so no surprise the interest and pricing.
June employment numbers, at least around these parts, looking good as ever. Train is chugging along…
supply in my area is tight. We had high turnover the last few years and now I think everyone who wanted to sell has done it.
In general, aren’t all areas pretty tight when it comes to SFHs??? Forget condos. If you have a steady job for the foreeable future and you are told that interest rates are heading up in 2017 perhaps up to 4 more times, what are you going to do? You are going to jump off that fence and find a property, right? I wouldn’t say any property but you will darn try or at least lower that bar of yours. You are going to lock in that still decent rate and proceed to live your life.
I suppose, but there was plenty of opportunity to buy in my neighborhood over the last few years. Something was always on the market. Now, not so much. I’m sure some of it is the winter, but I also think the elderly who want to downsize have simply tapped out.
What problem???
No shortage of buyers…
http://www.builderonline.com/land/development/kb-sells-out-at-silicon-valley-community_o
What problem???
Nice opportunity, 
One home around this area, same size, closed for $750K last year. People are still buying!
https://www.zillow.com/homedetails/192-Checkers-Dr-San-Jose-CA-95116/19721103_zpid/