The Facebook of San Francisco Real Estate (www.theFrontSteps.org)

The time has come to unveil the latest creation, www.theFrontSteps.org. We hope you like it, and we hope you participate. We even give props to SocketSite. We’re calling it “A Social Network for real estate obsessed San Franciscans”. Go check it out at www.theFrontSteps.ORG (note: You currently must type the www, and don’t forget the .org).

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(sorry for the blurry screen shot.)As for the future of theFrontSteps.com…we’re keeping it around for a while until we see how www.theFrontSteps.org plays out.

We hope you join and participate. Invite as many people as you’d like, create as many groups as you’d like, post as many photos as you’d like, write as many blog posts as you’d like, discuss anything and everything in the Forum, and generally overdose on San Francisco Real Estate. Have fun!

www.theFrontSteps.org

2956 Webster: 8 Offers, 4 Cash, 1 Winner, 7 Losers

From sfnewsletter:

We’re really trying to stop publishing these things, but they just keep coming up. This week we have 2956 Webster in the oh so popular Cow Hollow District. This is a 2 bed, 2 bath condominium that was asking $1,279,000 was absolutely swarmed, received eight (yes 8 ) offers, four of them all cash, and ultimately closed at $1,410,000. Yes…that much over ($131,000).

Forget for a minute this property sold above asking, because as we’ve said before there are some grey areas regarding sales above asking. What we all need to focus on is that there are still seven (yes 7) very hungry buyers for two bedroom condos in this area at this price that were beat out, and those were the buyers that stepped up to write an offer. There were probably more that didn’t even want to compete. Guess what? Those buyers are likely still out there.

When the Price is Right

Before you haul off and shoot the messenger, this is one of many emails we receive on a daily basis. We’ve tried to tone the cheerleading down a bit, but when it keeps on coming from other sources (not Realtors) it’s kind of hard to pass up. So…

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Awesome places that are priced right continue to sell at competitive prices all over the city.

19 Delmar St. [3 bed, 3 bath, $1,795,000] just went into Escrow as did two condos on Sacramento in the $2.1 range.

Lots of buyers out there! Wow.

No, this is not from MarinaPrime, ResortAtSquawCreek, Later, BoomTime, or any of the other people that sound oddly like the same person. It’s from someone entirely too well connected to not know the difference.

-19 Delmar [sfnewsletter listing detail page]

Ask Us: Calculating 30 Year Fixed Mortgage Rates

Where readers ask and we try to answer.

How are 30 year fixed mortgage rates calculated? My Real Estate agent said that it is an average of the trailing 12 month’s surveys by WSJ and BankRate.com, can someone confirm this?

As soon as a mortgage professional chimes in, we’ll post the answer here. Since we’re a bit busy, it may not be up right away, so check the comments.

Kelly McCray responds: “30 year fixed rates are based on what mortgage BONDS are selling for at any given moment.”

San Francisco sees $100,000 per square linear foot!

For a wheelchair ramp:

Another way to feel good about how our local tax dollars are used? Or alternatively, one can take great pride in the efficiency of our city government. Let’s just take a pile of dollar bills, make a big ole’ pyramid, and burn it down in front of city hall, what’s the difference?

AMinSF

-Wheelchair will cost $100,000 a foot [Matier & Ross sfgate]