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.

-RW

(via San Francisco Chronicle)

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