Tanking Market? Come Again? “That’s what she said” (1705 Broderick)

She being 1705 Broderick, a 3 bed, 3.5 bath, single family home in Lower Pacific Heights, and the pun being that she just came on the market 10/03/07 for $2,450,000 and just sold for $2,800,000. For the mathematically challenged (that includes us) that is $350,000 above asking (14.29%), a staggering month on the market (MLS shows 15 days, but we’ll add a few for sh*ts and giggles), and a price per square foot of $1,057 for Lower Pacific Heights between Pine and Bush streets.

MLS

Argue all you want about pricing, anecdotal information only, it’s the exception not the norm, blah, blah. The fact is, there was more than one person interested in this type of property that had the means to make this type of purchase. Should another home like this come around, what’s going to happen? Keep in mind, this whole sale took place in one of the worst markets our city has seen in years.

If you watch “The Office” you’ll get the “that’s what she said joke”. Regardless, a pretty good sale in a pretty “gloomy” market. We think you’d have to agree.

One thought on “Tanking Market? Come Again? “That’s what she said” (1705 Broderick)”

  1. I’ll add that the majority of homes in SF are not re-done and are more antiquated. Buyers these days want a ‘finished’ home. Does anyone know what the remodeled home on North Pointe sold for? Listed at $5M and sold, probably for less, but was still a grand slam at any price north of $4M from what I could determine. So two things: First, homes finished with high end appointments clearly command a serious premium. Two, there is still some room / demand in the upper end of the home buyer market. If you have $3M than you’re probably not overly concerned about the sub-prime market. The sub $2M market is more likely to see more dramatic impacts, but even then I’m not sure. The best and nicest homes will continue to fly in this market. Any home with a story or in disrepair is going to get stale.

    I wonder what this place would have sold for if was on Webster/Pacific!

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