2010 Decorator Showcase Will Be A 1929 Georgian Revival Mansion

From our reader:

The 1929 Georgian Revival mansion @ 3450 Washington is apparently set to be the site of the 2010 Designer Showcase.

Posthumously attributed to Architect Willis Polk (1867-1924) the 8,000+ sq.ft. Presidio Heights home was purchased by Peter Sperling in 2001 for a purported $18 million (story and other high end real estate gossip here), and has been on and off the market ever since.
Still listed on the Joel Goodrich Coldwell Banker website “price upon request”.

So let’s see, not on MLS, but still “available”? Sounds like something for PocketListings.net. Thanks for the tip and thanks for reading!

No Need To Be Subtle, Begging Works: “Clients Want Offer”

Whether it’s an “extremely motivated client”, or an extremely motivated agent, it’s the new age of real estate marketing…begging…and in San Francisco it’s here to stay.

It’s about time we quit being subtle and get to the point.

-367 31st Ave, 3 bedroom, $1,195,000 [property website]
-13 Ways To Say The Same Thing: Bring Me An Offer [theFrontSteps.com]

Bravo Infinity Towers…You’re Just About Sold Out, Eh?

Infinity Towers is the “fastest selling condominium complex in the United States”.

…and the penthouse, “7.3 Million Dollars”…(thoughts of Austin Powers)

[Update/Comment: One of our Friends/Readers commenting on this post via our Facebook Fan Page, "Maybe you should have titled this post - just shut up and fuck me!" Not exactly what we were thinking, but now that you said it, we are free to quote.]

-CBS 5 News: Infinity Towers Success Story

“San Francisco Housing Market Continues To Strengthen”

This pulled directly from the San Francisco Association of Realtors Newsletter:

San Francisco’s Housing Market Continues to Strengthen Unlike Many Other Areas of the Country

Falling inventory levels and strong sales activity in December, 2009, helped to drive continued improvement in San Francisco’s housing market, according to the latest Market Focus report issued jointly by Rosen Consulting Group and the San Francisco Association of REALTORS®. The median single-family home sales price increased for a third consecutive month in December reaching $755,608. That represents a 7.9 percent increase from December, 2008. The report attributes the improved market conditions to a drop off in foreclosure sales and a growing proportion of sales in higher priced neighborhoods.

Median Condominium Sales Price Increases for First Time Since July 2008

The report observes that the condominium market also seems to have turned a corner, as the median sales price increased by 7.6 percent to $672,590 in December. It was the first year-over-year increase since July 2008.

According to John Lee, president of the San Francisco, “The reduction in asking prices, mortgage rates of less than or near 5 percent and federal tax incentives have increased housing affordability and attracted buyers to the condominium market.” But he notes that “sellers of higher-priced properties have benefitted less from incentives as sales are closed only after significant negotiations from original asking prices.”

Closed and Pending Sales Activity in December Remained Relatively Strong

As expected, closed and pending sales activity dipped during December as a result of seasonal patterns. But despite the slowdown, closed and pending single-family sales activity that month outpaced similar activity in December of both 2008 and 2007.

According to the report, the single-family months of supply inventory fell to 3 months in December 2009 from 5.8 months in December 2008. The condominium months of supply inventory fared less well dropping to 4 months from 7.2 months during the same period. With inventory levels falling, Lee anticipates that the price increases seen in recent months will continue and possibly intensify.

The Rosen Consulting Group sounds a note of caution in its report by saying that a number of factors could delay the further strengthening of San Francisco’s housing market. Principal among these would be an increase in distressed properties that would add to the for sale inventory and put downward pressure on prices and the anticipated increase in mortgage rates that could rein in home buying activity. But the Group’s outlook is increasingly positive and it believes that if these eventualities would happen, “it would only be a bump in the road to long term growth in the San Francisco market.”

Can I Get Some Comps To Support My Fight To Lower My Assessed Value (& Property Taxes)

The pennies keep piling up for reader requests to us for help on reducing property taxes and providing comps to support such claims, so we’ll go ahead and print a couple of the latest and the new boiler plate reply we’ll be sending along:

Hi – I was wondering you could point me in the right direction…I am considering submitting an “informal review request” to the SF Assessor-Recorder’s office to lower the assessed valuation of my condo. I need to support my application with sales data on comparables from the period around 1/1/10 to 3/31/10. [We're good, but can't predict the future. ;-) ] Can you tell me if there is a website or other source where I could find this data?

Thank you.

Or something like this:

Hello Alex,

Thanks for your sfnewsletter [One of these days I (Alex) will get back to writing one!]. I really enjoy reading it. I got a letter from Phil Ting to have our house re-assessed. They need comps in the neighborhood. Although your newsletter has the recently sold report, I was looking for something more extensive, say for the entire 2009 calendar year. Do you know how I can get this?

I live in Forest Hill, and I would like to find information on this area.

Thanks very much,
D

Thank you both (and the countless others that have received this same boiler plate reply) for your emails, and thank you for reading. I’ve done this before and I know how it goes. I send comps, you take to the city, they say they want different comps from different times. So do me a favor and ask them EXACTLY what types of properties they want to see and EXACT dates and I’d be happy to pull them for you.

I’ll get them back to you as soon as I can. All I ask in return is that you consider working with me when the time comes for you (or your friends) to buy or sell real estate in San Francisco…

Cool?