Purchased for $560,000 in July 2003 with what would appear to have been nothing down, in August 2007 the single-family home at 108 Bronte was refinanced with two loans totaling $745,000 for which the Bernal Heights home would have appraised at the time.
Lost in a foreclosure auction this past August, on Saturday the remodeled home equidistant from the Alemany Farmers Market and Cortland with views off its deck returned to the market asking $579,000.
UPDATE: Our apologies, while Redfin suggests “this home was foreclosed and bank-owned” in August, a bit more digging would suggest Equity Growth Asset Management which doesn’t appear as an earlier lender likely bought the property on the courthouse steps from Quality Loan Service Corp for $425,200 cash.
∙ Listing: 108 Bronte (2/1) 825 sqft – $579,000 [MLS]
∙ Ten Of Thirty-Nine Already Owned By The Bank (And Eight Just Short) [SocketSite]
Here’s a way to ring in the new year. A trio of homes (77 Anderson, 60 Gates, & 131 Moultrie) near the peak of the south slope are scheduled to be auctioned off in January (according to RealtyTrac).
Bernal seems to be under significant stress. Many short sales, many 2004/2005 vintage (apparent)apples showing the “busy street” syndrome… asking for less than the previous sale price and not finding buyers!
My guess is $530K for this place.
$700/sq ft? i think egam overreached on the buy and are trying to pass on their mistake, imho
Bernal is cratering nicely, just as it was always meant to do.
bernal is holding up waaay better than i would have thought. much stickier than you make out.
i think its incredibly overpriced but the fact is many folks keep paying those prices. sf IS different. these craptastic listings prove that over and over.
The lot size for this house is very small. The only outdoor space you have is the new deck in the rear of the house.
The lot size is 25 x 70, which is fairly common for this part of town. There is a real back yard with good exposure to the sunny south and west. You have to go through the garage to get there though. It’s a very cute house with good light unobstructed to the east.
Equity Growth Asset Management company sounds like a middle man management company that cleans out and lists the properties for the Bank.
I am not 100% sure I would have to look at the Trustee’s Deed.
Sold for $579,000 on 3/3/2011
[Editor’s Note: Three Percent Over 2003 But Remodeled (And Auctioned) In Between.]
^^ Seems a fair result. Maybe a bit higher than predicted here.