I truly love when readers (thanks Shelley) send in links to other sites that truly make me laugh, and have a good grasp of the sf market, so I can quote them and not have to say it myself.
Lest anyone think the sub-prime lending crisis and mortgage meltdown is having a huge affect on the real estate market in the urban yet genteel streets of San Francisco, listen up. Mister Bratt’s investment property was listed in mid July, 2007 at $1,595,000. The property was sold and closed by the end of August for $1,858,000. So what does that tell the children about the still electric San Francisco marketplace?
Now babies, we know that it is standard practice in San Francisco to price a property low and sell it for higher than asking. This is widely considered “normal” in the City by the Bay. However, in this era of near fiscal implosion of the mortgage industry, one might think we’d see a slowing of the market and San Francisco properties would not be selling extremely quickly and for 10, 12 and 15 percent OVER the asking price. But they are children, they are. Ev-er-ee day.–The Real Estalker
Who cares about Benjamin Bratt! Your Mama nailed it! Nice!!!!
–Benjamin Bratt Sells SF Investment Property [The Real Estalker]