One big ass MLS

San Francisco Association of Realtors members now have access to active listing and off-market data for the following counties: Alameda, Contra Costa, El Dorado, Lake, Los Angeles, Marin, Mendocino, portions of Merced, Napa, Orange, Placer, Riverside, Sacramento, San Bernardino, San Francisco, San Joaquin, portions of San Mateo, Solano, Sonoma, Stanislaus, Ventura and Yolo. Oh the fun to be had….

Information below provided by Damion Matthews via PR Web

“California MLS Organizations Form New Mega-Data Sharing Group

New MLSAlliance™ Provides Single Search Platform to State’s MLS Listings

Boca Raton, FL. (PRWEB) July 31, 2007 – In an unprecedented cooperative effort, 10 Multiple Listing Service (MLS) organizations in California have signed a joint data sharing agreement forming the California MLSAlliance™, a new MLS gateway providing agents and brokers with a single source for accessing real estate information throughout California.

The new California MLSAlliance system was launched today and is now available to more than 150,000 brokers and agents, providing access to over 2.5 million active listings and off-market properties combined from 10 MLSs into one system. The system was developed and is managed by real estate technology provider eNeighborhoods, a division of Dominion Enterprises.

California is a prime example of today’s real estate market. Brokers and agents conduct business throughout the state, often across the traditional MLS boundaries. With the new MLSAlliance system, brokers and agents who belong to one of the 45 local real estate associations serviced by the 10 participating MLSs can now search one system to find listings spanning across the state. The joint data access agreement between the MLSs extends a blanket offer of compensation and cooperation to all authorized users of the California MLSAlliance. Continue reading One big ass MLS

Redfin Drowning in Red

by Damion Matthews

Glenn Kelman, CEO of discount real estate brokerage Redfin, recently boasted that “Most agents only close about eight deals a year. Our agents can close 100.” So when Carol Lloyd, the SF Chronicle’s real estate columnist responded, “They can, but do they?” I immediately set out to find the answer.

And the answer, my friends, is a big fat NO.

A review of Redfin transactions, as recorded by the San Francisco Multiple Listing Service from July 2006 to July 2007, shows that the widely publicized firm has had only 15 closed transactions in the city, with work divided among three agents (the bulk of it was done by one.)

It’s astonishing that such a small firm has received so much attention, with coverage nationally on “60 Minutes” and locally on the cover of the San Francisco real estate section. Kelman may not be a great real estate person, but he sure excels in publicity!

He’s also good at convincing investors that his company is destined for financial success when, in San Francisco at least, the evidence would suggest otherwise.

In July Redfin received $12 million in venture capital financing. This, despite the fact that in San Francisco — one of the strongest and highest-priced real estate markets in the country — the company has received, by my estimate, only about $125,000 in revenue to date!

That $125,000 figure is based on total commissions received, minus the 2/3rd rebate it pays back to its customers.

Redfin’s site shows that the company is currently doing business in seven other markets — like Baltimore, Boston, and San Diego. Could it be any more profitable there than in San Francisco? The agents would have to close twice as many transactions in Baltimore to bring in half the commissions they make here!

How Redfin is ever going to make money is beyond my grasp, but it hasn’t stopped the media from covering it as if Kelman is some business genius who knows more than all us old fashioned pre-internet dinosaurs. At least Carol Lloyd voiced the question no one else has bothered to ask. And now you’ve got the answer.

– Damion

-Redfin.com [website]

-The changing face of real estate deals [sfgate]

“A Tale of Two Districts”: Update

On July 3rd, “eddy” sent in a great post (A Tale of Two Districts) comparing two similar properties in different locations, and whether or not one would sell faster than the other. The answer is clear, and not surprising.

689douglass.jpg

689 Douglass, a 4 bed, 3.5 bath, single family home in Noe Valley asking $1,895,000 set an offer date, received multiple offers, and is in contract for over asking. We’ve been asked by the listing agent not to disclose any more information than that, but from our experience in this market, it was a highly competitive situation, and we’re guessing it is substantially over. No surprise, it is a beautiful home in a great location.

2679sacto.jpg

2679 Sacramento, a 3 bed, 1 bath, single family in Pacific Heights asking $1,550,000 on the other hand, is starting to get that Stalefish ™ smell, and as far as we can tell, may be looking at a price reduction in the not so distant future. No surprise. It needs work, has a funky layout, and seems priced to high.

However, as “eddy” recently pointed out in an email to us, perhaps 2030 Scott, a 3 bed, 1.5 bath, single family home in Pacific Heights asking $1.7M, is a better comparison to Douglass. It just hit the market and spent nary 10 days there before going into contract. Also, no surprise. Great, unique home, great location, tons of light and outdoor space. Priced right.

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The moral of this story? We leave that to you.

-A Tale of Two Districts [theFrontSteps]

-689 Douglass [mls]

-2679 Sacramento [mls]

-2030 Scott [mls]

Still not enough inventory out there for everyone.

This week alone we have received the following emails, literally cut/pasted:

“Do any of you have any fixers in your pockets or coming up? Open to anything with parking, yard and delivered vacant up to 1.5.”

“Does anyone have a vacant lot for sale in SF for under $1M?”

“Does anyone have any pocket listings or upcoming listings in District 4? My clients have been looking for a great single family home around the $800k (with room to negotiate) price tag. They are pre-approved and ready to put together a deal. Your help would be greatly appreciated!”

“I have a client who is looking for a 15 unit and up building in San Francisco. If you have any pocket listings or know of any potential buildings please contact me.”

Just another bit of information for you to help formulate your opinions about our market. We never, ever, ever receive any emails asking if anyone has a condo pocketlisting South of Market. San Francisco is all about the micro-markets, or as sfnewsletter says, the nano-markets.

We took the liberty of putting these requests in our Marketplace. We’ll see if we get any bites.

#88 out of 1,247,612 (top blogs)!!

excellent.jpgIn a very short month and a half, we appear to be gaining a bit of a following, and we thank all of you who are stepping up to theFrontSteps.

We were recently notified of a very interesting stat that has nothing to do with real estate, and everything to do with us and you, our valuable reader.

There are currently 1,247,612 blogs worldwide on WordPress.com (our blogging platform), and we recently ranked #88 on their “top blogs” list.

Who beat us? A lot of blogs beat us, but this blog in particular caught our eye, for no other reason than the name, “I Can Has Cheezburger?”!? If you’re a feline freak, check that site out.

Thank you, thank you, and thank you for reading. Please continue to spread the word about us, as we think it will make your real estate discussions much more invigorating and enlightened.

-Plugged by “Curbed”, You Gotta Love It [theFrontSteps]