September 30, 2007

One Twin Pending, One to Go

About a week ago I wrote about two popular listings in Piedmont: 1057 Harvard and 1116 Ranleigh. After less than 3 weeks on the market, the Harvard home (listed for $895,000) is now pending (while 1116 Ranleigh is still sitting).  The million dollar question now is: how much will 1057 Harvard actually go for? It’s hard to know.  Like many homes in the Bay Area, some homes in Piedmont are going for above asking while others are going for below. Take a look at some of the close Piedmont “comps” (past sales that are close comparisons for 1057 Harvard):

1024 Winsor List Price: $835,000; Sales price: $804,000

690 Calmar List Price: $749,000; Sales price: $850,000

575 Crofton Ave. List Price: $825,000 Sales Price: $895,000

List Price vs. Final Sales Price can be tricky. For example, the Calmar home was priced way under value, a technique some realtors like to use to generate interest and then possible bidding wars. Other times, a house in a great neighborhood may go for less than asking due to its condition, sluggish market and/or its particular location within the neighborhood.

 So, getting back to 1057 Harvard, what will it be? My guess is that if the house is in good condition, it will go for asking or above, since it’s in a great location and is a highly sought-after style (classic Craftsman). Place your bets ladies and gentlemen: what do you think this house will go for?