Weekly Sales Report

The theme of this morning's office meeting was "Giving Back". Coldwell Banker sees the importance of giving back to the community, and what better way for a company that sells homes than to support the wonderful organization that builds and donates homes to families in need. Every year Coldwell Banker raises money and donates time to Habitat for Humanity; in 2006 they raised over $368,000 and donated over 3,500 volunteer hours to 11 home construction projects throughout Northern California. Yes, I got in there and swung a hammer! I highly recommend it. Not only does it give you a new found respect for construction workers, but you learn a lot about building a home. It's amazing to see it all come together. This year's goal is to raise $500,000; our office held our annual raffle this morning. The final numbers aren't in yet but I will let you know if and when we reach our goal!

Statistics

There were 18 open escrows this week. Of those 18, 7 were single offers, 10 were multiple offers, and 1 was a preemptive offer. A preemptive offer is an offer that was presented to the seller before their published offer date. A preemptive offer typically needs to be well over the asking price for the seller consider it.

The property that received the most offers this week was a "heavy cosmetic fixer" on 19th Avenue in the Richmond District. It is a large Edwardian single family home on a great block. It does require quite a bit of upgrading, but it has many original details intact. It was listed at $799,000 and received 22 offers. We will know the sold price when escrow closes.

There were 19 Closed Escrows this week. 5 sold at asking price, 9 sold over asking, and 5 sold under asking. That keeps things pretty steady from last week with about 50% of all properties selling over asking price and more than half receiving multiple offers. Steady as she goes!