Saturday, June 9, 2018

Thank You, Federal Reserve: House Sells for $1.6 Million Over Asking Price

It wouldn't have occurred if there wasn't a Fed monetary spigot pumping out money in the Greater Silicon Valley region.

A house in the Pacific Heights district of San Francisco recently sold for $1.6 million over the asking price. It was on the market for nine days and is the highest overbid so far this year.

The five-bedroom Victorian house at 2219 Scott St., dating back to the 1880s, was listed for $7.995 million and sold for $9.6 million (20 percent over the listed price) on May 5.

According to listing agent Janet Feinberg Schindler of Sotheby's, the property received six offers.

"It has tremendous light," said Schindler.


(via San Francisco Chronicle)

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