Nestled into, or perched atop (it’s all perspective), one of the most prestigious hills in San Francisco (we’d almost go so far as to say the world), 2950 Vallejo appears to be coming soon…for $25,000,000.
From our reader:
One of my absolutely favorite houses is hitting the market. You probably already know this, but I haven’t seen it on any of the blogs as of yet… 2960 Vallejo is now on Barbara Callan’s website for 25 million… that’s almost 5000k per foot, which is just astounding.
Hang on now, before you start freaking out about location, and size, and price, and square footage, and all that…the next email moments after:
Oops! I gave you the wrong address.. It’s 2950 Vallejo… and it’s 4000 per foot.. sorry!!
Apology accepted, still astounding (it’s all perspective, you do get seven bedrooms and eight baths after all), and thanks for the tip.
[Update: “It’s definitely 2950… 2960 Vallejo is the shingle property next door on the left. It sold in 06 for like 8 million”-from the same reader, whom we love!]
[Update #2: Some interior pictures are now available at Barbara Callan’s website.]
Much nicer than expected, to be perfectly honest.
As a reminder, you can send tips, comments, or questions to [email protected].
–2950 Vallejo [Barbara Callan, direct link to property not working, please navigate your way. At this moment the only pictures and details are what we’ve told you above.]
–2960 Vallejo [Byzantium Brokerage…Yasoo Steve!]
I love the mortgage calculator on the bottom of the $25M listing. On’y 120k a month after a $5M down payment.
I saw that too. Awesome!
How much you think Barbara pulls down a year in pay?
People selling homes over $5M aren’t paying 6% — probably more like 4% and includes lots of marketing dollars as well. So it’s prob pretty easy to figure out. Assume around an average of ~2.5% of her total listed/sold properties each year. She could easily be moving $20 to $25M a year. But she has a team I’m sure so she’s got mouths to feed. But certainly well north of $1M take home. Could be $3M+.
Sell one $25M property….. nice!
Barbara has been moving about 130 million a year… And yes, 2.5% is probably about right for her commission which is well over 3 million. McGuire gets a cut and so does her team… but I’d still wager that she’s pulling in over 2 million annually.
There are now some interior pictures of 2950 on her website.
Barbara is great, and always so nice. She desires every bit of the $2mil+!
Top producers get the majority of their commish and only a fraction goes to the agency otherwise these people would just all go elsewhere and produce there. $130M annually. Seems plausable… wow.
on such a property, how much is spent by the agent? like if the seller refuses to pay for paint touch up, or some stagging, would the agent refuse the contract? or would the agent caugh the expense?
and to some extend, is this so easy to work with such high flyers?
I explain:
If I ever was bored of my 25M bachelorette pad, and wanted to get rid of it, I think I would just dump the keys on an agent’s desk and would refuse to hear anymore about said property. ie. I wouldnt pay for the utilities, the property taxes, the contractor inspection or any legal document, the maintenance (gardener, paint, cleaners etc) – and would just wait in my new NYC pad for the above agent to fly to me with an offer to sign (remember? I’m BORED of the place, so I’m not sure I’d like to squeeze some annoying flight to SFO just for a stupid paper).
I think that the privilege of having an agent sell such a place gives you the worry free priviledge. The seller shouldnt even spend a second on any problem. The seller shouldnt hire anybody for anything. That would be the job of the agent.
Now what is the price limit to gain the privilege of dumping it all on the agent? when you dont need the money and when you couldnt care less about the DOM and SP/LP- and when the agent can afford to pay for all your wishes and still make a profit. :-)
Most people with $25M in a single R/E estate are not stupid or lazy. Even wealthy people like Kirk Hammet from Metallica lament a $1M price reduction on his Divis property that continues to sit for well over a year. High end brokers compete for these listings and are networked very well. It all boils down to how competitive a listing becomes and how much the broker / agent it willing to commit in capital to sell the property. But I’m pretty certain that any cosmetic changes are net after commision — and paid by seller if they pull the listing.