We’ve been through the over/under debate countless times, but when the big ones hit we have no choice other than high-light them, and 3647 Washington is no exception.
According to MLS, this five bedroom, four and one half bath single family home in Presidio Heights hit the market March 26th at $3,595,000, spent a staggering 12 days (or less) actually “on” the market, and just closed escrow for $4,505,000…or 25% ($910,000) above asking.
We again say, look past the over/under debate on whether it paints a picture of the market and think more about the desire of one person to have that property so much more than the others. Also think about the ones that lost.
A realtor told me buyers will likely spend $500,000 to spruce it up. No backyard, i donno. Nice block though.
These top end agents are tricky. For all the buyer knows there were 5 other bidders. For all the seller knows, they may have only been one. Take a look at my post on .ORG (http://tinyurl.com/6as28q) regarding the $7.7M Home on Jackson that was quietly marketed before hitting the MLS. Look Ma, no takers!
There are still a lot of wealthy buyers out there looking for hoomes at all price ranges. 3647 is/was a great home and a lot of value even at the final selling price.
I’ll also add that this was another Malin listing similar to the $7.7 Jackson street. Got to triage those high end clients. I’m sure after moving Union, now Washington her team will sell Jackson next week!
http://tinyurl.com/6as28q