San Francisco real estate insight, statistics, gossip, and news with a twist and some flavor – theFrontSteps

Pocket Listing. Not On MLS. Buyer In Need. No Problem. PocketListings.net Launches Nationwide!

Although you might think theFrontSteps has been completely sleeping these past months, you probably forgot we’ve been busy building a place for real estate agents to post the thousands and thousands of pocket listings they have throughout the year. Not only can they post pocket listings available to be sold, but post they have buyers who are looking for something they just can’t seem to find on MLS. There is no limit on how many times you can post, it’s completely FREE to join, and any type of property is fair game (Commercial, Residential, Land, Houseboat, etc.). It’s kind of like Craigslist meets Google meets eHarmony for off market real estate, and we’re not just for San Francisco. Today, we go nationwide!

Yup, we’re live (in beta) and we want you, and you, and you to check it out, use it, and tell 100 of your bestest of best Friends.

Non agents (i.e. Public) are welcome too! Just contact your agent if you see something you like.

Here’s the best thing…we’ve quietly been live and testing the site for a couple of weeks, and trying to keep it relatively under wraps, but already have agents who have joined us from Santa Rosa, San Francisco, San Diego, Burlingame, Belmont, Pacific Palisades, and Palo Alto, CA to name a few. Still other agents in Scottsdale, AZ, Miami Beach, FL, Bend, Oregon, and the number of agents joining are growing at a very surprising rate.

We’ve had great feedback from our initial users, four agents who’ve already contacted each other about potential matches, and we think we’re ready for all of you. So go check out and use PocketListings.net.

Here are some direct links to some noteworthy pocket listings already posted:
-Click here to see the very first pocket listing ever posted on our site (A $2.4M home in Scottsdale, AZ).
-Click here to see the most expensive pocket listing posted so far (A $5.5M home in Palo Alto, CA).
-Click here to see the most unexpected post so far (A $60,000 parking space in San Francisco, CA).

PocketListings.net is absolutely ROCKING and we haven’t even begun. Don’t wait, get in the game!

To keep updated on our happenings, we have a substantial number of “Friends” already on our Facebook Profile (also serving as our blog), so we’d be delighted to have you come join us there.

Our Twitter page is growing every day, and is also the place every single one of our posts is fed. Huh? Fed? Yep, you can follow us on Twitter, you can follow our hashtags for #plcity, and you’ll see every single post in real time. No need to search, no need to sort. Just browsing for all of you real estate porn addicts. Follow us @PocketListings.

If you liked watching theFrontSteps grow to over 500,000 readers*, you’re going to be more impressed with what we do with PocketListings.net, so we hope you find a way to be a part.

-PocketListings.net
-Facebook.com/pocketlistings
-Twitter.com/pocketlistings

*in our heyday, we had ~500,000 unique visitors per year, right here on these very theFrontSteps.

Tags: Not on MLS, Off Market, Pocket Listing, pocket listings

Comments Off | Posted in » Off Market, Real Estate Technology, pocket listings, theFrontSteps

Zillow’s Zestimates Rubbing You Wrong Too? Vent!

From a reader:

Average condos in SF are up 4.9% in the past year. I am happy for everyone who owns one, but I have a problem with the means of estimating a condo’s value and that is via Zillow.
I won’t waste your time telling me to ignore Zillow, as I would like to do. But many people go to the Zillow site to see their Zestimates and I have a huge issue with Zillow on their Zestimate of my condo.

I am in a classy South Beach building and have an incredible, unobstructed view of the Bay along the Embarcadero. My neighbor, with the same footprint of a little over 1,000 sq ft 1 bed, 1 bath, has his place “Zestimated at over $1.2mil. My place used to be about that, but in the past 18 months my Zestimate has gone down to under $650,000. I think my neighbor’s place is accurately figured and it is a lovely place. But mine has a better view, by far and has no privacy issues as far as large office blocks looking right into his bedroom and dining room. So, to summarize: two identical units in the same building with a difference in Zestimates of about $600,000. Just seems impossible.

I would like to protest with Zillow but there is no opportunity to do so other than writing letters to their Seattle HQ. No responses. One real estate guy saw me complaining in a forum on Zillow and he said it is all algorhythms and there is no human input. He said to just ignore Zillow. If no one went to Zillow I would find that easy to do.

If anyone doubts me, just check out 75 Folsom #1105 and #1106. You tell me.

Any ideas?

I know our site has been asleep for a while, but anybody have any suggestions?

Tags: real estate, san francisco, San Francisco Real Estate, zillow

3 Comments | Posted in » San Francisco Real Estate, san francisco

Thought you were Pacific Heights? Uh, uh! You’re Cow Hollow now, bitch!

Just when you thought you had it dialed, those darned Realtors go screwing with the neighborhoods.

“The SFAR MLS will be rolling out a significantly revised version of its District/Subdistrict map during the evening of August 10, 2010.

Boundary Changes:
· Dividing line between 7b (Pacific Heights) and 7d (Cow Hollow) jogs south for one block at the west end and changes so that both sides of Green are in 7d (Cow Hollow) between Lyon and Divisadero. The boundary between Divisadero and Van Ness remains the same, keeping both sides of Green in 7b (Pacific Heights)

· 9h (South Beach) expands into portions of 9f (SOMA) and 9d (Mission Bay)

· Dividing line between 6b (Hayes Valley) and 8f (Van Ness/Civic Center) moves from Gough to Franklin

· Dividing line between 6c (Lower Pacific Heights) and 8f (Van Ness/Civic Center) moves from Gough to Franklin between Sutter and California

· Dividing line between District 8a (Downtown) and 8j (Tenderloin) moves from Geary to O’Farrell

· 5f (Buena Vista Park) expands to include Ashbury Heights, and is renamed Buena Vista/Ashbury Heights accordingly

· 5e (Parnassus/Ashbury Heights) changes to include a portion of 5b (Haight Ashbury) which is commonly known as Cole Valley, and is renamed Cole Valley/Parnassus Heights accordingly

· 9a (Bernal Heights) expands to include portions of 9c (Inner Mission) south of Cesar Chavez between San Jose and Mission

· Dividing line between 5c (Noe Valley) and 9c (Inner Mission) moves from Guerrero to San Jose between 24th St to 26th St.

· 5a (Glen Park) expands to include portions of 4s (Sunnyside), 4h (Miraloma Park) and 5c (Noe Valley)

The following Districts are newly added, carved out of existing districts:
· 9G (Yerba Buena), carved out of portions of 9f (SOMA)

· 10M (Candlestick Point), carved out of portions of 10K (Bayview Heights)

· 10N (Little Hollywood), carved out of portions of 10K (Bayview Heights)

The following Districts are renamed:
· 8b (Financial District) is renamed Financial District/Barbary Coast

· 9j (Central Waterfront) is renamed Central Waterfront/Dogpatch

· 5e (Parnassus/Ashbury Heights) is renamed Cole Valley/Parnassus Heights

· 1d (Lake) is renamed Lake Street (the word “Street” is added)

· 5f (Buena Vista Park) is renamed Buena Vista/Ashbury Heights

Here’s the New Map

Tags: san francisco

2 Comments | Posted in » San Francisco Real Estate, san francisco

Can We Get A Sale In 2010 At The St. Regis For Chissakes!

Having recently received a few (yes, more than two) inquiries as to both rentals, and sales activity at the St. Regis Residences here in this lovely city of San Francisco, we thought it high time to give you an update.

First off…not one closed transaction in 2010 (according to MLS). Second, there are currently eight, yes 8, active listings in the St. Regis and none of them are moving (average Days On Market of 105). Finally, …..well, we won’t go there.

Here is a nice little spread sheet of the recent comps (had to go back to 2008 to get anything good) for the St. Regis Residences in San Francisco. Enjoy.

We’d have to say, it’s a pretty damn good time to be a buyer at the St. Regis, so don’t hesitate to contact us if you have a question about the St. Regis, or any other high rise gem punctuating our skyline.

Tags: San Francisco Real Estate, St. Regis

3 Comments | Posted in » Condominium, High Rise, Luxury Homes, San Francisco Real Estate, St. Regis, real estate

San Francisco Real Estate Numbers For Real

From a reader in the comments:

I looked at the MLS sales volume and median sales prices year over year today, and sales volume is up about 38% for SFRs and condo/TICs, from 1354 in 2009 to 1875 in 2010. Median price is also up across just about all price tiers I looked at, which were 650 – 800K, 800K to 1M, 1M to 2M, 2 to 3M, and 3M or higher. 3M or higher was the only one that showed a lower median, and it was down about 70K. But there have been 35, 2010 sales to 19, 2009 sales for that tier.

Thank you.

Tags: stats

4 Comments | Posted in » Readers’ Reports, Stats & Numbers, market info

Yes Please…..

We’ll take two….

Tags: iPhone4

1 Comment | Posted in » theFrontSteps

Maximum Overbid, Tech Push Ups, And The End In Sight

According to today’s article in SFGate regarding San Francisco Real Estate, things ain’t that bad and actually might be getting a bit silly. It all kind of makes sense, seeming how three of the most popular tech companies in the world right now (Apple, Twitter, and Facebook) are within our greater metropolitan area:

Sales of houses and condominiums in San Francisco jumped 50 percent in the first quarter from a year earlier and the median price rose 5.4 percent to $685,000, according to a multiple listings analysis by Terradatum Inc. House values will gain 7 percent this year, the biggest annual increase since a 9 percent advance in 2005, Rosen Consulting Group forecast last month.

“San Francisco has conditions of very restricted supply and lots of things that can push demand: an attractive climate, innovative economy and high quality of life [Haven't we been saying this for years!?],” said Harvard University economist Edward Glaeser, who has studied U.S. housing bubbles.

Could this mean the return of the Maximum Overbid we coined on sfnewsletter? Time will tell, but if you’re on that fence thinking of buying, you might want to get in the game.

-Tech Lifts San Francisco Home Prices as Ocean View Gets 26 Bids [SF Gate]

2 Comments | Posted in » market info

State Of The California Real Estate Market

We bring this to you directly from the California Association of Realtors (C.A.R.):

According to the California Association of REALTORS’® April 2010 Sales/Price Report, home sales decreased 8.1 percent in April in California compared with the same period a year ago, while the median price of an existing home rose 21 percent.

The State Association believes that the State tax credit that went into effect May 1 created an incentive for many buyers to postpone closing escrow so they could take advantage of both the State and federal tax credits that were available. It anticipates that the pace of closed sales will edge up in May and June as these tax-incentivized transactions close.

The report observes, “Mortgage interest rates continue to hover near their historic lows, and many buyers are out in force to take advantage of the combination of low interest rates and affordably priced homes. It’s an ideal time for many families to purchase their first home even though they may face stiff competition.”

Highlights of CAR’s April 2010 Sales/Price Report:

* C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in April 2010 was 5.1 months, compared with five months (revised) for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.

* Thirty-year fixed-mortgage interest rates averaged 5.10 percent during April 2010, compared with 4.81 percent in April 2009, according to Freddie Mac. Adjustable-mortgage interest rates averaged 4.16 percent in April 2010, compared with 4.82 percent in April 2009.

* The median number of days it took to sell a single-family home was 39.4 days in April 2010, compared with 48.1 days (revised) for the same period a year ago.

* Statewide, the 10 cities with the highest median home prices in California during April 2010 were: Manhattan Beach, $1,572,500; Saratoga, $1,440,000; Los Altos, $1,428,750; Mill Valley, $1,200,000; Laguna Beach, $1,162,500; Cupertino, $1,120,000; Newport Beach, $1,037,500; Los Gatos, $1,034,000; Calabasas, $925,000; and Santa Monica, $870,000.

* Statewide, the cities with the greatest median home price increases in April 2010 compared with the same period a year ago were: Richmond, 63.2 percent; Pittsburg, 56.7 percent; Tulare, 37 percent; San Bernardino, 37 percent; Cupertino, 35.7 percent; Monterey Park, 33.9 percent; Tustin, 31.6 percent; Highland, 29.2 percent; Manteca, 28.1 percent; Lancaster, 27.6 percent; and Seaside, 26.9 percent.

No Comments | Posted in » market info

Immediate Need: A Place To Park, Wash & Dump Bus Toilets

Hey guys,
I’m looking for commercial property in or near SF to buy or lease. I have been working with a broker out of San Mateo for the past year. Still haven’t found the property. Immediate need is a place to park, wash, & dump bus toilets by June 1.
Long term want is same space with building for service. Budget is $2.5M. Problems to this point are: local city won’t permit our use, or price is way past $2.5M. We are prequlified with B of A & have a letter.
I’m looking for a space to lease before June 1. I’m writing you because I don’t know where to start.

Well, let’s see if you came to the right place. Anyone (thefrontsteps@gmail.com)?

5 Comments | Posted in » Readers’ Reports, pocket listings

Ahhh…The Selling Bonuses!

We’ve decided to leave the identity of this property out of this post, because it’s really the “pitch” that caught our eye:

How would you like to be rewarded with an extra $5,000!

AGENTS: Don’t miss this opportunity – sell this fantastic designer-renovated apartment and we’ll reward you with a selling bonus of $5,000!! It’s this simple: close escrow before Sept. 1, 2010, and the $5,000 bonus is yours! Close escrow before July 15, 2010 and we’ll throw in a new i-pad as well!

Here’s additional incentive to show the home: we’ll include your name in a monthly drawing for a free bottle of vintage reserve premium wine from Windsor Vineyards just for previewing the home (even at Broker’s Open) as well as for each time you show the property. The more you show it, the greater the chance of winning this premium wine and, even more, taking home an extra $5,000 selling bonus!

Very chic! This luxurious, renovated 1 Bedroom, 1.5 Bath apartment HAS IT ALL! Picturesque views to the north of SF Bay, Aquatic Park, Alcatraz, Angel Island & North Bay PLUS big City views – think Blue Angels & fireworks! This is one of San Francisco’s most prestigious full-service co-ops (doorman, resident manager, etc)! Designer-renovated open kitchen, spa-like baths & superb finishes throughout (mahogany stained oak floors, leather accent walls, integrated multi-media system, motorized shades & MUCH MORE)! Best in the building.

Picture us sitting on the lanai in Hawaii, reading a book on our new iPad, and sipping some “vintage reserve premium wine”. Anyone looking for a chic 1 bedroom?

6 Comments | Posted in » theFrontSteps

San Francisco The “Strongest Performing Market”…Hands Down

Don’t shoot the messenger:

San Francisco
Hands-down the strongest-performing market in February was San Francisco, which posted an 11.9% gain over the past 12 months. “California has been strong the last couple of months. There does seem to be something of a serious revival going on,” says Blitzer. One month would be a fluke, but these California metros have been seeing gains over the past several months, he says.
The recovery can in part be attributed to a lack of land. Coastal cities like San Francisco don’t have that much space to build hundreds of homes. From peak to trough, home values in San Francisco fell by some 40%, says Robert Van Order, a professor of real estate and finance at George Washington University’s School of Business. In the long run, you’d expect to see growing values there because it’s an inelastic market. “There’s not much room to build, so it has pretty good prospects,” he says.

-Home Prices Are On the Move [Smart Money]

Tags: San Francisco Real Estate

5 Comments | Posted in » market info

$8000 Government Home Buyer Tax Credit Expiring, Coldwell Banker $8000 Buyer Bonus Sales Event Igniting

The government sponsored $8,000 home buyer tax credit is set to expire, and tis a bummer indeed if you missed out on it. But fear not, the gigantic corporate sponsored wave has begun, and Coldwell Banker is the first to set the bar by offering their own incentive (3% up to $8,000) in what they’re calling their “Buyer Bonus Sales Event”.

[O]n May 1, 2010, immediately following the expiration of this government initiative, home sellers participating in the Coldwell Banker Buyer Bonus Sales Event will offer a credit of 3 percent (up to $8,000), when part of an accepted offer, of their home’s purchase price to buyers who sign a contract before July 31, 2010. There is no deadline for a closing date.

“The federal government did its part to encourage millions of Americans to achieve their dream of home ownership with the help of the home buyer tax credit,” said Jim Gillespie, president and chief executive officer for Coldwell Banker Real Estate LLC. “As the credit expires, Coldwell Banker Real Estate is encouraging buyers who haven’t found a home yet to continue looking, while bringing a new audience of home buyers who were unable to qualify for the tax credit into the market. We are confident that this private sector solution will represent a significant step toward continued recovery of the housing market.”

“The Buyer Bonus Sales Event will allow participating Coldwell Banker home sellers to essentially extend the benefits of the credit,” said Gillespie. “Without restrictions such as household income caps, the Coldwell Banker Buyer Bonus Sales Event allows for greater participation for all homebuyers. And our sellers have a unique opportunity to allow their home to stand out from the competition in their marketplace.”

In addition,

“All home sellers who take part in the Buyer Bonus Sales Event will receive broad marketing support from Coldwell Banker Real Estate LLC, including:

National television commercials beginning May 1, 2010; extensive online advertising
Promotion on [CB website].
Updates on the event to be shared on Coldwell Banker Facebook and Twitter pages and the Coldwell Banker blog, Blue Matter;
A video posting to the Coldwell Banker On Location channel highlighting the practical value of $8,000.

This is all fine and good in the rest of America, but will we see this incentive surface in the San Francisco housing market? If so, what does this do to the smaller (local) real estate companies competing for those listings? It’s kind of hard to compete with that marketing campaign (unless you have a popular blog like this ). Is this the beginning of “flat rate” or “reduced” commission structure listing agreements? Time will tell, and your comments are appreciated. One thing is for sure, this will certainly light a flame under the booty’s of all the other Brokerages in this town.

13 Comments | Posted in » market info

Doing Our Part To Urge You To Use Less Plastic

As I’ve stated many a time on my various outlets (Twitter, sfnewsletter, and here on theFrontSteps) there is waaaay too much plastic out there. It is truly depressing and sad to walk onto a beach in the most remote parts of the world after having a great surf and be surrounded by plastics (sandals, bottles, bags, etc.). I’m not hating, I’m educating and doing my part.

Recycling starts at home. Make the effort to use less plastic and tell your friends to do the same.

End preaching…..

-Fake Plastic Fish (blog) [education on using less plastics]
-Plastic Pollution Coalition [Sign the petition, get involved.]

Tags: earth, NothingToDoWithRealEstate

3 Comments | Posted in » Announcements

Lake Tahoe Dreamin’? Tahoe Green Home For Rent, Slick Video To Prove It (Music Included)

Speaking of Music in Property Videos, this clip comes to us by way of Inbox. Since so many San Francisco/Bay Area people flock to Tahoe and talk of living the dream up there, not to mention being green while doing it, we thought it worthy of sharing.

City slickers go get your green on and be one with Tahoe (It is a Straw bale home after all, and you never know, your blue jeans might be the insulation) …you know you want to!

Tags: Lake Tahoe, rentals

3 Comments | Posted in » videos

Ask Us/Poll: Should I Put Music “On” A Property Website

We just got this question moments ago and a link to a couple different sites…all the same really, just playing different cheezy music. The question:

I’m signing up a listing for a new property you’ll want to take a look at. The photos turned out great, and the property is awesome! My question is do you think I should put music on the site? Some people say they like it, some hate it. What do you think? You guys seem to have a big audience so maybe you could get more answers than what I’m getting.

Our answer…Hell NO! Music on websites, especially property websites is so unbelievably annoying (to us) we browse with our computer on mute. But that’s just us…let’s put it in a poll, shall we?

9 Comments | Posted in » Ask Us