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September 16, 2013

SF Overbidders Club Welcomes New Members

Our ongoing feature highlighting properties that have sold for 25% or more above list price continues today with three new SF Overbidders Club members. Here’s the latest lineup:

53 States
Corona Heights

List Price: $748,000
Sale Price: $1,135,000
Overbid Amount: 52%
Closed Escrow: 8/28/13

This contractor’s special with odd curb appeal and no garage apparently impressed many buyers, but one stood out with a non-contingent cash offer. Yes, folks, that’s what it takes to earn the right to develop a property in a popular location up the hill from the Castro.

37 Elk
Glen Park

List Price: $949,000
Sale Price: $1,282,000
Overbid Amount: 35%
Closed Escrow: 8/16/13

This detached single-family home overlooking Glen Canyon Park had a remodeled kitchen and bath, two large bedrooms with direct deck access, and a newly remodeled master suite downstairs with an office, laundry area and ample storage. In short, the house has everything three-bedroom buyers are looking for, along with easy access to 280 and BART. 37 Elk last sold for $785,000 in August 2008.

140 Edgehill
Forest Hill Extension

List Price: $895,000
Sale Price: $1,177,000
Overbid Amount: 31.5%
Closed Escrow: 9/6/13

Situated on curvy Edgehill Way, this property has a 5,000 square foot terraced lot and was custom built in 1947. Yes, it was a quirky and dated house, but one buyer was willing to pay 31.5% over the list price. 140 Edgehill last sold in 2004 for $990,000.

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