Column by Alexander Clark
This week in the Richmond / Sunset District Real Estate market we got to see both ends of the spectrum as to how to go about pricing a home for market. On the list a property for a high price side, we saw 554 9th Ave that hadn’t been on the market in over 50 years end our curiosity and close for $1,700,000 from a $1,788,000 list price, and it took almost 30 days to find that buyer. If you list high, and don’t do anything to prepare your home for market, this will happen. Happens all the time. In the end, it’s a fair price, for a great home. The buyer should be thrilled.
On the other end of the how to go about pricing a home spectrum, and on the other side of the Park, this ridiculously underpriced 1930s center patio home sold for $555,000 over asking…cash offer closed in 9 days. Think about that for a second. Half a million dollars difference between “asking” and selling price. As I’ve mentioned multiple times on these type of posts I’ve done on theFrontSteps for years, that is an entire house somewhere else.
There is something to be said for pricing a property crazy low versus a bit too high. Low works every time, but is definitely slightly annoying to all of the buyers trying to get a home out there. Somehow, somewhere in the past, we (Realtors in SF) figured this is the best strategy to get a property sold quickly and for an amazing price. I always say, you can’t price too low, but you can certainly price too high. Perhaps a discussion saved for another week.
In the meantime, the sun will come out again in the Avenues. I hope.
Alexander Clark is a Richmond District resident and founder/realtor @ theFrontSteps.com – San Francisco Real Estate…with a twist & some flavor
Categories: Alexander Clark Real Estate