You want to talk sticker shock?
It’s not news that homes in San Francisco are selling for over asking price. What is news, however, is that last week a home in Pacific Heights sold for a whopping 70 percent over its asking price.
2514 Gough Street was on the market for $1.995 million and sold for $3.4 million. It hit the market on April 21 and sold a week later to the highest of six bidders. That’s according to agent Max Armour, who told the San Francisco Chronicle that he represented the sellers along with SF Properties partner Malin Giddings.
While Armour stayed mum about the bidding process, he did say that all six were in over asking price and that the winning bidder was quickly determined. The newspaper also surmised it was an all-cash deal due to the speed with which it closed, going into contract on April 29 and closing May 6.
“People just fell in love,” Armour told the paper. “That it went to where it went to was because it was competitive and love is a very strong catalyst in home buying.”
Factors in that love, he said, included the “timeless” 1941 William Wurster design, along with the property’s location and indoor-outdoor living emphasis.
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email email@example.com. www.ceceblase.com