The sale of 1167 Bosworth closed escrow on Wednesday with a reported contract price of $1,010,000. That’s 9 percent “over asking!” but just 1 percent over its 2004 value ($1,000,000) and 4 percent under its sale price of just seven months ago ($1,051,000).
∙ 1167 Bosworth Is Back And Seeking Another Outlier Bid [SocketSite]
From last SS coverage of this property:
“Perhaps hoping for another 30 percent over asking outcome (and another outlier bid), 1167 Bosworth has been listed for $925,000 (the sellers are “relocating”)…”
Guess they did.
I am really surprised that this home closed for such a high price. The market is really challenging at the moment but this is a fantastic outcome for the seller despite the loss.
Guess they got over the permit issues. Note the dual-agency here — hopefully no shenanigans with the MLS price vs. public records here.
$1M in 2004 is $1.156M in 2010 when inflation-adjusted by CPI. Isn’t this in the area where Islais Creek might be daylighted? That might be a plus for this location, even though being on Bosworth isn’t so great.
“Isn’t this in the area where Islais Creek might be daylighted?”
The city has pretty much decided to not do this. It was seen as too expensive and most people in the neighborhood felt the dollars could be best spent elsewhere.
BTW, there’s a Glen Park community plan meeting this Tuesday @ GP Elementary for those interested.
i rarely see anybody touting “over asking” except for on this blog. where can i find this language? i just don’t understand why this is still being discussed every day here. have your agent pull up the property history and this can be put to rest. you can see each price the home sold for, every time it sold. enough with the “over asking” rhetoric, it’s so boring!
Show Me….the postcard mailers I get from agents STILL tout “over-asking”. It has not gone out of currency. Anyone with a modicum of common sense realizes how completely stupid it is. But apparently Realtors (TM) still think it is a good advertisement for their expertise.
Wow, the previous purchaser (from March) must have really disliked this house. I can understand that it’s not the best location, but you would think that would be known at the time of purchase.
Something else wrong with it?
I like the style of the kitchen; someone mentioned that it needs more storage. Maybe, but I doubt that’s enough to make someone move.
I’ve been in the house next door. The backyard is quiet enough to be enjoyable. The street is busy, but that’s really the only problem, right?
Correction; not next door (two houses away).
In this low volume environment pricing is highly strategic. Price adjustments never have the attention drawing power of the initial asking price, and every adjustment means less and less. With most sales the price is either a capitulation price that draws over bidders or a stretch price that brings in deal makers. Sales over asking can indicate a market that is a boon to sellers or one that has generated capitulation priced listings. Low volumes indicate we are seeing more of the latter, but obviously this is not a rigorous metric.
curmudgeon, thanks for explaining. i don’t really get many postcards from agents, but then again, i’m in east oakland and i guess there isn’t a whole lot of property to brag about out here. not to mention, i doubt anything goes for “over asking” out here.
so, these agents still use this tactic to tout their skills. this can be put to rest the moment you call them up and ask them for the sales history, that’s it. i mean, i guess they aren’t lying, but it is definitely deceptive and lame. what’s new, a lame realtor… 😉
Yes, i get that stuff in the mail too all of the time– not just touting a property sold over asking, but the last one I got was using the current numbers as “data” on the health of the market- eg “23 SFH’s sold over asking”. . .
Thank goodness for the internet finally beginning to free up real information and data. It’s funny when a few people get mad at socketsite for cherry-picking apples (sorry for the mixed fruit), but to the average consumer it’s great to have sites showing stories that would not be featured by the Bureau of Misinformation (the NAR).
next time i sell my house i’m not going to hire an agent. i will put it on the market for $1 and sell it for $1,000,001 and then mail the neighborhood that i sold my house for 1 miiiiiiiiiilllliiiiooooooon over the asking price. they may hire me to sell theirs too 😉