patrick.net

Cruzcat says

Here are some of the houses that we toured which sold over asking

To be honest, many were underpriced, so this is not a surprise. The sweet spot here seems to be the $565-570/sqft range +/- a few bucks. Here are details -- I'll save the best story for last!

http://www.redfin.com/CA/San-Carlos/3154-La-Mesa-Dr-94070/home/1983782 -- $557/sqft, listed at $522/sqft

http://www.redfin.com/CA/San-Carlos/113-Plymouth-Ave-94070/home/1183196 -- $579/sqft, listed at $555/sqft

http://www.redfin.com/CA/San-Carlos/17-Del-Rey-Ct-94070/home/788582 -- $576/sqft, listed at $545/sqft, and sold for exactly its inflation-adjusted 2003 price

http://www.redfin.com/CA/Redwood-City/834-Shepard-Way-94062/home/2029813 -- listed at $541/sqft ($1.045M) per tax records square footage, still pending, and the inflation adjusted 2000 price would be $1.056M

http://www.redfin.com/CA/Redwood-City/955-Edgecliff-Way-94061/home/2049579 -- sold at $512/sqft, listed at $507/sqft, but it's Redwood City, although I'm assuming someone priced in a kitchen remodel and whatever else

http://www.redfin.com/CA/San-Carlos/1732-Greenwood-Ave-94070/home/2011596 (this sold 3k below asking at 1.095M, 3b/2b,1620 sqft). Crazy IMO -- sold at $664/sqft, listed at $665/sqft. Yes, this one is crazy, I can't understand what's positive about it other than the location is closer to downtown. Smaller houses do sell for more per square foot, but this one seems particularly high.

3326 Plateau Dr, Belmont, CA 94002 asking price 1.038M This had a seller contingency that they find a house in woodside. -- asking appears to be $1.028M but listed at $494/sqft and its inflation adjusted 2000 price would be $1.188M

http://www.redfin.com/CA/San-Carlos/1777-Elizabeth-St-94070/home/1201627 -- sold for $496/sqft, listed at $433/sqft -- way underpriced on this one

http://www.redfin.com/CA/Belmont/15-College-View-Way-94002/home/2059017 -- listed at $998K or $502/sqft, and pending since it was underpriced

http://www.redfin.com/CA/Redwood-City/931-Pleasant-Hill-Rd-94061/home/835184 -- this one is interesting actually. The broker/agent picked it up for a song on a short sale situation -- probably an insider deal as usual. These guys are smoooooth operators. The original 2006 price was $1.2675M ($634/sqft), which gives you an idea of where the market was then. The current sale price is in our sweet spot of $574/sqft. The realtor picked it up for $930K on a $990K listing. That's a HUGE profit for them.

They have picked up several other foreclosures, although none so expensive as this one:
3320 Hoover (bought $362K after being foreclosed at $606,650, sold $470K)
1216 Johnson (bought $490K, sold $686K, although public records say they paid $670K for some reason)
46 Bonita Ave (bought $444K after foreclosed at $514,609, now pending with a $519K list price down from $539K)
1515 Redwood Ave (bought $365K short sale from prior buyer who paid $665K, sale pending $499.9K after originally trying at $548K)