Listed for $6,200,000 this past September, the sale of 2300 Broadway closed escrow on Friday with a reported contract price of $5,400,000. Having been relisted for $5,300,000 a few months ago, the sale will be reported as “over asking” according to industry stats.
As plugged-in people know, the 174 square foot smaller sister project at 2306 Broadway sold for $5,235,000 in 2009 having traded for $6,600,500 in the year 2000, down 21 percent from the height of San Francisco’s dotcom days and previous economic boom.
Comments from Plugged-In Readers
Expensive properties are repeatedly being relisted downwardly in order to sell above list, and some are still being sold below list. The wealthy are tapped out?
A marketing gimmick used by the realtors. Price it low and get multiple offers. Waste of time in my opinion. List it at the right price and it sells just as fast. Who wants to look through 20 or 30 offers. Not me.
An interesting sales strategy… Makes the real estate agent look good even thought they did have to lower the price significantly. I wonder how the seller felt about the price reduction and “over-asking” sale.
Agents have a fiduciary responsibility to get the best offer for their clients, and dropping the price simply expands the pool of potential buyers. If that means sifting through multiple offers, that’s the agent’s job, and how many clients are willing to leave money on the table because their agent is lazy? There’s no such thing as a “right price”– properties are worth what someone else actually pays for it.
Aside from that, architect Sandy Walker’s houses don’t have the cachet they once did. Although this house has a spectacular interior and great views, it’s vibe is classic late ’80s San Francisco chic.
I remember when this was an empty lot. If they had kept the lot empty all these years and several more generations could have enjoyed the wonderful view of the GG Bridge from the NE corner of Filmore and Bdway, I wonder how much the land would go for now with the potential to build a 21 century structure.??
This is back… Don’t know the list yet…
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