Building Wealth Magazine

After tagging along on Zephyr’s tour of homes, it appears that reports of the S.F. market’s demise have been greatly exaggerated

Heather Boerner, Special to The Chronicle

There were still multiple offers — Drypolcher reported that even amid last year’s slump, a third of their properties sold with multiple offers — but they weren’t as common and they didn’t elicit the frenzy of offers that is seen now. Houses came on the market and were pulled off again after price reductions and lack of interest. The Casselli property, a two-flat building, had been on the market for several days last year when it was pulled off again. And then, voila — the new year arrives, Casselli goes back on the market, and suddenly there’s a bidding war and tons of offers.

Stories like this ripple through the meeting. Take a property a few blocks from Casselli Avenue, on Ord Street. Peter Goss represented the seller on that property when it went on the market this year. But it wasn’t the first time the house had been on the market. In September, the owners listed the house for sale — and waited. They waited 92 days and lowered the price by $46,000 before eventually deciding that perhaps it wasn’t the time to sell.

“Oh, it’s a tremendous change,” Goss said. “This property on Ord, it was listed last year for $1.795 million before the price was lowered to $1.749 million and then taken off the market. This year, we listed it for $1.695 million — a little lower — but the offer we received was for $1.85 million. So again, this is more than asking price of last year.”

The house sold in five days.

 Read the whole article at The Chronicle

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