$100,000,000 Tahoe Cabin Just Slashed $25,000,000. Hurry! Won’t Last!

Remeber this $100,000,000 home in Zephyr Cove I featured not too long ago?

Well…it’s now $25,000,000 more affordable, and we know who owns it…Tommy Hilfiger Co-Founder Joel Horowitz.

Opulent is an understatement. For $25MM less, I still wonder if I’d be able to wear my ski boots in the main room.

-525 Highway 50, Zephyr Cove, Nevada (Lake Tahoe) [Chase International Lake Tahoe]
-Walkabout [theFrontSteps]
-Hilfiger Co-Founder’s Home Gets A $25 Million Price Cut [Forbes.com]

Battle Royale: San Francisco Or East Bay, If You Had To Choose

Coming off the heels of my post about a modern, Swedish home currently for sale by some clients contemplating their move here to San Francisco or the East Bay, it inspired a long overdue Battle Royale (perhaps on par with SF v. NYC):
San Francisco versus East Bay (I leave the “what exactly is East Bay” interpretation up to you). If you had to choose and why. Please share in the comments below.

On the map it hardly seems fair with the East Bay being so much larger than San Francisco, but we all know size doesn’t matter right? At least “that’s what she said.”

-More Battle Royales [theFrontSteps]

Wanderlust: Sweden Ain’t All IKEA You Know

As much as I love dealing in, and talking about, San Francisco real estate (because it is really THAT cool), I’ve been known to get a serious case of wanderlust from time. What better way to cure it than going walkabout. Last week was Los Angeles modern, yesterday a glimpse of real estate up Tahoe way, today…Stockholm, Sweden!
In case you’re unable to read Swedish (like me), that’s four bedrooms, three bathrooms, 290 square meters, outdoor space galore, modern kitchen, and all can be yours for a starting bid of 8,900,000 Krona. Don’t have Krona in your pocket, I’m sure they’d take $1,429,562.50 USD too. In fact, I know they would, because the owners will hopefully be putting that cash right here in San Francisco real estate. I just gotta convince them East Bay is inferior to San Francisco, but that shouldn’t be too difficult, San Francisco is where it’s at. Right?

[Update: Just got word two bids are in and the price is pushing north of 9,400,000 Krona. Yes, they use a bidding system in Sweden, and they share the prices being bid with the other side. Imagine that. If only SF were so smart. This whole, "you can't shop an offer" thing is stupid. If you have a bid, why not tell the other side the price. Sorry...tangent.]

-Swedish Modern Home Details [Sotheby's Stockholm]
-Reasons We Live Here [theFrontSteps]
-More Walkabout [theFrontSteps]

When Men were Men and Mice were Movies Stars…

[Editor's Note: Because I know soooo many San Francisco residents love to visit Lake Tahoe regularly for any number of great things the Lake Tahoe area has to offer, and because I know you all love yourself a little real estate, I have found a talented writer/Realtor up there to share some insight. This is his first post. Please welcome him.]
Walt Disney slept here! Seriously. When I moved from Orange County to Tahoe, I thought I was leaving my Disneyland connection behind. But right here on the north shore is a little slice of Disney. Called the “Heigh Ho Lodge” because Walt himself was a frequent guest back in the day, this 1.6 acre lakefront estate includes over 280 ft. of south facing sandy beach along with 3 separate houses: a guest house, a caretaker’s house, and a 6 BR main house that sleeps 21. You could fit all 7 dwarves, Snow White, Mickey Mouse, and Walt himself and still have room for 11 more overnight guests!
At a touch under $9 mil, I only need to save $9 million more to afford it. But if you have ever spent any time at Buck’s Beach (a public beach just down the street from the Heigh Ho Lodge) you know why this property is on my short list of dream houses. The north shore enclave of Old Brockway is one of the most beautiful parts of the lake – granite boulder mini-islands dot the crystal clear, turquoise sandy bottomed shallows, beckoning anyone in possession of an inflatable raft and a couple cold Coronas.
Did Walt drink Corona? Maybe not, but I’m sure Mickey did.

-“Heigh Ho Lodge, Lake Tahoe, $8,995,000 [Lake Tahoe MLS]

[Chris Anderson is a Tahoe based writer and real estate professional. You can contact him at chris@tahoetruckeehomes.com or go to TahoeTruckeeHomes.com.]

137 Buelah Apple: Don’t Haight the Game….

[Written by "Eddy":]

One thirty seven Buelah is one of those homes that just screams San Francisco charm and it has all the makings for what many families are looking for in a home here in the city (e.g., curb appeal, close to shopping, parking, etc.)
It’s no wonder that this property closed escrow back in 2006 in only 26 days and over asking at $1.59M.   It’s a little more surprising, however, to see that this same home just closed escrow in 2011, again for over asking, and in only 33 days for $1.61M.  It goes without saying that buying a good property with highly desirable features is a good strategy. This is a classic example of a well appointed home, commanding tons of interest, and getting a good price in two different real estate markets (2006 & 2011).

A few more pics after the jump:

Continue reading

~3800 Square Foot Sea Cliff Home (Fixer) For You

If you have it in you to get an A+ Sea Cliff property with views like this
…. give me shout, because have I got the roughly 3800 square foot home on a roughly 5600 square foot lot on the end of Lake Street just for you.

Principals only please. I am NOT representing the seller, but I’ve known about it for a while. I’ve tried to get it for a couple developers already, but to no avail. It looks like the asking price will cut the developers out of the picture, thus only making sense for a family looking to buy a Sea Cliff fixer, sink $500,000+ into it, and end up with their dream $3.5MM to $4MM property in one of San Francisco’s best neighborhoods. So if you fit that description, give me a shout and we can talk about the property and how I can help you get it.

A Fixer Of Epic Proportions “Not On MLS”: 30-32 Prescott, Telegraph Hill

[Update: Property is now on MLS. Keep your eyes on PocketListings.net for your chance at many other off market opportunities, as this one was first posted there several weeks ago.]

This is one of those properties where every step you take inside the building you wonder if you’ll end up one floor below, like in a Looney Tunes Cartoon. To say the property is in utter disrepair (and recently vacated) is an understatement.
The exterior photos actually don’t do this property justice. The floors are rotted, the windows are molded and cracked, the roof is…well….it’s still there, the bathrooms are disgusting, and the potential is tremendous!
This is, after all, a “fully entitled development project with approved plans and permits in hand to build TWO, 2 story units with 2 car parking, yard, roof deck, with sweeping views of San Francisco Bay, Bay Bridge, Downtown San Francisco, and Telegraph Hill.” It’s opportunity knocking.
Full disclosure, there is a school right smack dab next door, and that could quite possibly be the only downside. However, the buyers of the finished product are likely not going to be people that are home Monday through Friday from 9am to 5pm anyway, so it is almost a non-issue.
This is a chance for a developer to pick up an extraordinary project off market, develop it, and unload it. Or it is a chance for a person that wants a brand new property, to come in, take over, hire your crew, and build your Telegraph Hill dream residence.
Make no mistake, this is a “fixer” of epic proportions, but a lot of the “work” has been done for you. The hardest part of most battles to build in San Francisco is usually getting permission from the city, and that’s all been done for you. You can show up, make an offer with hammer in hand and get to work. Okay, maybe you’ll need more than a hammer and nails…like maybe a wrecking ball?

I’ll be out at the property today showing some clients, and I’ll attempt to get a couple interior pictures, but no promises. The inside is a total and complete wreck and that is what makes it so damn attractive.

Don’t go looking for this on MLS, because it ain’t there. It’s currently “off market” or “not on MLS”, but definitely very much for sale.

However, before you get to enjoy what we see in those renderings above, you gotta get through what exists in the photos below. And since so many homes are judged by the quality of their kitchens and baths…ask and thou shalt receive:


P.S. Keep in mind it was apparently recently inhabited.

-Prescott Fixer Details, San Francisco, $850,000 [PocketListings.net]
-“It’s Not Listed. But It’s Definitely For Sale.” [New York Times]
-Not on MLS Real Estate Network [PocketListings.net]

If There Is “S&M” And “Leather Sex” One Unit Below, You Might Want To Let Buyers Know

“Hi Alex-

Have I got a story for you…

When I closed the deal last Friday for [removed], my new condo in a 2-unit building, I had no idea my downstairs co-owner was a self-described “sex enthusiast” who engages in loud S&M “leather sex” on a regular basis. I learned this not from the seller or his agent, but via an email from the co-owner himself, which I received last Sunday night, after close.

The mere fact of the co-owner’s sexual preference doesn’t bother me in the least. But the possibility of it coming to the attention of my 10 year old son, whose bedroom was to be directly over the downstairs bedroom, enrages me.

By what measure does this not require disclosure? All parties to the sale knew I had a young boy who would be living with me. And I had expressed to my agent directly my concern over the possibility of an S&M dungeon in the common garage area, as that would be an inappropriate feature in a child’s environment.

Neither the seller or his agent told me about the use and type of noise coming from the lower unit, though the co-owner writes that this was a topic of conversation several times between the seller and him.

The level of noise transmitted between the units has been an ongoing issue. In fact, renovation of the seller’s unit was undertaken as recently as this year to help abate the noise: new sound proof padding and carpeting were added.

Despite the possibility that my 10 year old would be negatively affected by this noise type and unit use, this fact was kept from me during a full 6 weeks while I decided whether to purchase the condo.

I implored both realty companies to rescind the sale. They both said get a lawyer, we can’t help.

I now have a brand new condo I cannot move into because of the risk it poses to my son.
I have 50% custody of my son. If I were to move in to the condo, my ex-wife would immediately sue for full custody.
I have very little cash reserve because I paid nearly 50% down.
I have to move out of my current temporary residence on May 3. I have nowhere to go.
I have thousands of dollars of furniture and rugs piled up in my living room, purchased specifically for the unit at [removed].
I cannot afford rent because of my new useless mortgage.
I literally don’t know what to do or where to go.

For this I paid $27,000 in commissions?

All of this is due is to a lack of disclosure, and the lack of will to properly investigate my clear and communicated concerns. I was the only person who bid on the condo. I suspect there may be a financial motive for the non-disclosure, as the seller was eager to get out early, and requested early close via his agent.

The only people that can act quickly enough, and that have the necessary resources to fix this, as well as a moral and ethical obligation to do so, are the real estate agencies. And they are ignoring me or dragging their feet.

I am hoping to generate enough public awareness that they will take a more responsible approach for a situation that they have created by their lack of due diligence to discover all possible pertinent disclosures.

I specifically instructed my realtor to ask the sellers agents for access to a locked room in the common access area to determine if it was possibly an “S&M dungeon.” I felt a little silly asking, but also felt I needed to know with certainty that that usage was not the case where my son and I would live for years to come.

Apparently, [my agent] did not communicate my clear concern to the other realtor, or [the selling broker] did nothing about it except ask for the inspection of the room. I have 2 emails from the realtors on this topic. My concerns in this area were clear to my agent, and the conversations on this topic with her were witnessed.

I am willing to forward the pertinent emails for your verification, if you are interested, from the co-owner, [and both brokerages]. You may call me with questions at the number below.

Please help me spread this story far and wide. Public opinion is the only leverage I have at this point to enact a solution, other than litigation, which will take years and thousands of dollars to come to a probable unsatisfactory conclusion.

The responsibility of disclosure is one that these realtors took far too lightly, apparently preferring to deliberately not know, despite my concern, rather than to threaten the sale with the full disclosure that was their legal, moral and ethical responsibility.

I appreciate any help you can offer.

Thank you very much.

Jack”

Glad to be a messenger, but clearly there are some privacy concerns and legal issues I decided to avoid by eliminating address and names, but a little bit of internet digging and you’ll get the unedited version.

Good luck to you Jack!