Bettin’ Fools

[Update 6/18/07: $296,000 Price Reduction]

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2340 Larkin #2 hit the market this week (asking $2,295,000). It is a 2 bed, 2 bath, 2100 square foot condo in Russian Hill, and we’re bettting it’s sold (or at least in contract) before the end of the month.

Yeah, we know, the market is horrible, prices have come down, buyers have split for the East Bay (See reason we live here #5), or even points further east, but we’re bettin’ it’s gone before we even remember to update you. Care to wager with us?

It was purchased three years ago for $1.4MM. We leave the math to you.

-Doom & Gloom [sfn BLOG]

-2340 Larkin #2 [property details, MLS, link expires in 30 days]

-Reasons we live here [sfn BLOG]

-Update 6/5, still on the market [theFrontSteps]

Reason we live here #5

NO COMMUTE

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“Huge leaping flames from an exploding gasoline tanker melted the steel underbelly of a highway overpass in the East Bay’s MacArthur Maze early this morning, causing it to collapse onto the roadway below and virtually ensuring major traffic problems for weeks to come.”
“It will put more traffic on the San Mateo Bridge, the Golden Gate and the Richmond-San Rafael bridge.”

We’re bettin’ a home in the city just got a lot more attractive to tens of thousands of commuters.

Tanker Fire Destroys Part of MacArthur Maze, 2 Freeways Closed Near Bay Bridge [sfgate]

Comparison Shopping On the sfnewsletter

This:
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Prime Bel-Air Estate, Offered at $16,500,000

Plus this:
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Santa Ynez Valley Chateau,Offered at $19,750,000

Plus this:
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9342 Sierra Mar, Offered at $11,500,000

And you might as well throw in this:
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9038 Wonderland Park Ave, Offered at $2,500,000

Ahh…what the hell, this too:
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1515 Bel-Air Road, Offered at $4,495,000

Equals this:
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$55,000,000 (asking) San Francisco landmark (2901 Broadway), that is indeed now officially on the market, as we said it would be back in July of 2006.
And since you are here, you might as well do a drive by.

-2901 Broadway as Decorator Showcase [sfn BLOG]
-$55,000,000 (asking) San Francisco landmark (2901 Broadway) [SFAR MLS]

Ellis Act a la SB 464: cut/paste

Last week, we posted about the new Senate Bill designed to hose landlords and property owners, and we had quite a bit of traffic to it. There is a bit of buzz about it out in the blogosphere, so we thought we’d do yet another cut/paste of an email that showed up in our inbox just today (been outside for a while and no time to post) from the California Association of Realtors. Happy Reading!

“SB 464 (Kuehl) which forces landlords to stay in business for at least 5 YEARS and requires that landlords give ALL tenants a ONE YEAR notice of termination of tenancy, should ANY tenant be a senior (62 years of age or older) or disabled. C.A.R. opposes SB 464 because it is an outrageous attack on private property rights and because it will cause fewer rental units to be available to families who need them.
SB 464 will be considered by the entire Senate as early as Monday, April 29th.
ACTION ITEMS

Continue reading

Hurry up…and wait

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2214 Clay…one day showing…one offer…rumored to be going over asking (go figure) from a $4,998,000 asking price…now we wait to see the outcome.
The vitals: 6 bed; 5 bath; 4989 square feet; built in 1890; $1001/ppsf; horrible colors in the living room, and definitely not my tastes for interior decorating (opinion!), but other than that it is a great house with all the amenities.
The selling points (again…opinion): “sits on a gated, double lot, with a separate carriage house & 6+ parking”; zoned RH-2, near Lafayette Park.

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-Property Details [mls]
-2214 Clay [Coldwell Banker Previews]

Our Bay Area Waters Just Got Sharkier

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“The days of buying property with little to no information are over.”

PROPERTYSHARK.COM LAUNCHES 9 NEW SAN FRANCISCO BAY AREA COUNTIES:
Alameda, Contra Costa, Santa Clara, San Mateo, Napa, Marin, Solano, Santa Cruz, & Sonoma
San Francisco has already been blessed with their presence, and we’re continually asked to do what we do in other parts of the Bay Area, so we thought we’d put this up there for all you “out of towners”.
If you’d like to see a little sample of what they do for us, click here.
To look up a property in any county:
Alameda
Contra Costa
Marin
Napa
San Mateo
Santa Clara
Santa Cruz
Solano
Sonoma
To browse the Bay Area foreclosure listings, go to:
http://www.propertyshark.com/mason/Foreclosures2/

Have fun! Of course this guy might be a little more nervous than most.

T is for Transformation (T-Third Metro line service begins)

Information provided by Ron Wong and Mike Tekulsky, Hill & Co. Real Estate.

t-third-trilingualtn1.jpg“The T-THIRD Metro line will connect all of the Third Street neighborhoods to the full Muni Metro system, providing a vital link between the southeast sector of San Francisco and the rest of the City.”-SFMTA

What kind of effect could this have on properties that have otherwise been labeled as “too far out there”, or “not centrally located”?  What about the areas like Bayview, Hunters Point that have already seen an increase in “atypical” buyers for those areas? 

On a totally different note, we’ve also been told that Dago Mary’s will be closing at the end of April. So ride the new line and say goodbye to an old San Francisco restaurant, and cross your fingers the T-Third gets you there on time.

-Trial by the T-Third [sfgate]
-SFMTA Website
-Dago Mary’s [Yelp]
-PASSENGERS LEFT IN LURCH BY T-THIRD’S ROUGH START [sfgate]

Unique is an Understatement (2901 Pine)

[Update: Sold June 2007 for $2,300,000]

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2901 Pine St. is one of those properties you only wish you had the guts to do (assuming you’re remodeling). The place is sweet! (In our opinion) We literally just walked out of there and were so impressed, we came to post. You must check it out.

Formerly a commercial space (neighbors claim it was a liquor store, grocer, yoga studio, office), it is now a 3 bed, 2.5 bath 3,282 square foot Victorian Modern (that’s what we’re calling it) single family residence on the corner of Pine and Baker asking $2,350,000. 

What sold us is the towering Atrium entryway, the extensive use of glass, the catwalk, the master bedroom/bathroom suite, and since they went modern, what masterpiece would be complete without bamboo flooring.

It is yet another unique property that gives us yet another reason we live here. Remind us to let you know what it sells for (or if you’d like to go see it), because it will sell,  it’s just a matter of when.

-2901 Pine [Pacific Union]

-Unique Property [sfn BLOG]

-reason we live here [sfn BLOG]

Update on “Why’s this keep happening to me” and it’s Done Deal in Hayes Valley

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On April 1st (now we see that someone was playing a joke on us), we posted, Why’s This Keep Happening to Me?!” and gave you our story of despair and anguish. Now we can tell you the final sales price: $1,015,000 from an asking of $899,000 on 256 Page St. in Hayes Valley. There you have it…the update.

-Why’s This Keep Happening to Me?!” [sfn BLOG]

It’s about Damn Time!

Finally, an article in the mainstream media confirming what we’ve been telling our readers of the sfnewsletter for the longest time (one example). “The Market is pretty damn good.” (Note: we acknowledge the article is a bit “sales office” cheerleaderish, but gets the point across.)

Doesn’t it make sense to get the most up to date market report from people creating the comps, rather than people analyzing the comps?  We try to do a good job of giving all sides of the story, Overbids, Stalefish ™, and of course Letters to Editor. So we think we’ve got you covered, and hope you check back frequently.  Remember, we’re new to the blogoscene.

[Update: We forgot to add a link to our Tour de San Francisco, which is only in the early stages and a great way for you to check out our micro-markets (a term we believe we coined a long, long, time ago...then of course a reader broke it down further...nano-markets. Yes, we're doing a little horn tooting.]

-Picking Up Steam [sfgate]
-Why’s This Keep Happening to Me? [sfn BLOG]
-More Overbids [sfn BLOG]
-charts, data, and graphs [sfn BLOG]
-Stalefish ™ [sfn BLOG]
-Letters to Editor [sfn BLOG]
(If you want to receive the sfnewsletter, please ask your Realtor to send it to you, or contact us and we’ll get you on the list.)