You know that when I talk “life”, I talk real estate, because real estate is my life, and therefore life (real estate and living) at the St. Regis is pretty damn good. However, there are a few exceptions…the “B” units and one “F” are getting a bit stale!
I was fortunate enough to sell Unit 38 B for my clients 5 days after I put it on the market (full disclosure, another agent had it on the market for 8 months prior…started at $2.8M, we listed at $2.395, sales price *). But the other units that were also on the market at the same time (March 2008 ) are still there. What gives? It’s pretty damn simple, pricing. Those sellers need to get a bit more realistic about their prices, and their agents need to counsel them to get there (they probably already are). I know what price is going to get you 25 F, and kudos to the Realtor for getting their client closer to reality, but 22, 34, and 37 B…time to start chopping.
Just like at One Rincon Hill, I also know of a few properties at the St. Regis that would be available off market, so if the St. Regis is your thing, feel free to drop me a line. If any of the new developments are your thing for that matter, there are more units “available” than you might think.
Oh it’s just so awful when a property sells for under asking. The world of San Francisco real estate has certainly come to an end when we start to see this. We can all pack our things and head for more affordable, greener pastures. That is, of course, unless you love yourself some loft!
After 32 days on the market, 200 Brannan #109 sold for a whopping $10,000 below list price, or more correctly stated, it sold at market value.
This is a fantastic property in a great building, and these buyers got a great price, and a great outdoor patio! They should be thrilled.
We doubt you’d find anything like this in Kansas.
-200 Brannan #109 [MLS]
We took you to this very floor a long, long time ago before it had walls (right after an earthquake mind you), and we took you there again just recently. This time, we’re bringing you a taste of what life will be like on top and from a North East corner unit…at night…and guess what? If you missed your chance to get one of these trophy units at the sales office, you might want to give us a shout, because there are more opportunities than you could imagine.
And yes, if you bought above the 54th floor your views should not be impacted by the second tower (build date still t.b.d.), and you can, without a shadow of a doubt, see all three bridges (Golden Gate, Richmond, Bay).
-One Rincon Hill: Topping off at 631 feet [theFrontSteps]
-I Spy [theFrontSteps]
As many of you know, I fancy myself a bit of a surfer, which doesn’t necessarily mean I know how to surf. Regardless, I’ll be in Mexico sippin’ Cerveza and hopefully getting tubed out of my head until May 7th. I have already written a few posts that will appear in the next few days, so don’t hang up on us completely. In the meantime, I suggest you head on over to theFrontSteps.ORG and get social. That site is still getting great traffic, and is now all about the network and not so much about our blog. Go on, get over there and check it out. I’d hate to see you resort to other means of entertainment, or heaven forbid…work!
theFrontSteps.ORG [San Francisco Social Network]
This from a reader:
Here is another shining example of disservice to the SF real estate market courtesy of the SF Gate.
The SF Gate and KGO (ABC) reported ([yesterday and the day before yesterday], respectively) on the same story, but KGO was decent enough to report the foreclosure numbers IN CONTEXT, i.e. referencing that the 130 foreclosed-on properties were in the Bay View. The SF Gate cunningly lumps all of the foreclosures into “San Francisco” and adds in that the rate of foreclosure in the city is “up 200% from last year”, easily giving the impression that the real estate market is tanking city wide. I don’t think the Gate even mentioned the word “Bay View” once in the entire article. In a word? LAME.
Here are the links if you want to check it out yourself.
And we thank you for your report and taking the time to bring it to our attention.
Again, we say, “Lest you think we only report the positive,” we link to Submedian and What’s the diff.
And so you know what is so great:
So I’m perusing one of my favorite real estate blogs [theFrontSteps] (no, I don’t get paid to plug it, I really do like it) and I stumble across this whopper in the comments:
“I feel sorry for people who were tricked into renting for the past 5 years while SF prices continue to go up.”
That kind of broad, categorical, arrogant, and self satisfied comment deserves a reply that can match it ounce for ounce with pure snark. In other words, this was custom made for a blogger like me.
-What’s the diff? [Submedian]
Lest you think we focus exclusively on the high end of the spectrum, we thought you’d like to know about the low end (in price, not quality…size doesn’t matter either, right?)
An itsy bitsy studio at the Symphony Towers recently closed escrow for a reported price of $349,000 (asking $399,000).
Forget the asking price ($3,795,000) and forget the selling price ($4,200,000) of this five bedroom, four bath, 4224 square foot mansion in Pacific Heights, instead focus on the DOM (11).
-2221 Baker [sfnewsletter listing detail page]
We love ourselves some hot Realtors, and we also think our “average” colleagues (the rest of us) are great (even though we continually bash the not so great), but this comment by Kenny the other day in Stats & Numbers: Condos… was so blunt and in your face we had to post it.
It sucks to be an untalented Realtor or a novice Realtor right now. Those of us with clients and listings are pleasantly surprised the market has held up as well as it has, and are doing fine.
And we have to ask, “Those of us who aren’t…?”
Aldo Congi…Capo di Capi telling it like it is. Andrew, you kind of fumbled a bit, but we’ll let it slide. And who was that that walked out of the bathroom in the middle of your interview!? Gasp….
No way! It’s not happening. Really it’s not. The market has tanked. This report was from 2005. The Wall Street Journal just wasted their time. (sarcasm, sarcasm, sarcasm)
And on the other side of the equation, Shiller (think Case-Shiller) thinks it’s only going to get worse, like worse than the Great Depression worse. Let’s make sure we don’t invite that guy to our party!
-Home Sales Fall, but Signs of Stability Emerge [The Wall Street Journal]