Getting Twisted in Cole Valley (1342 Shrader)

We’ve been in, around, over, and under this remodeled 5 bedroom, 4.5 bath home at 1342 Shrader in Cole Valley, and it is absolutely awesome. It’s coming to the MLS very soon (if not already) and some lucky person (hopefully our clients) will be throwing some killer parties in this great home.


The little cottage out back:

It’s a beautiful house by all accounts and we’re hoping our clients like it when they see it tomorrow, but we can’t help notice… Is that Twister we see?

What else are we to do when the country is in a recession?

Back to topic, there is a great elementary school just down the street (Grattan Elementary) as well as a lovely pre-school on the same block (Jubilee). Oh, and Cole Street is just around the corner, Haight is close by, a park right across the street and the “banana belt” weather Cole Valley gets in the Summer. Yes, we’re fans…

[Update: Sold $2,370,000]

-1342 Shrader.com, $2,985,000 [property website]

You like dags? “Sexy, dog-friendly” condo awaits (1944 Green St.)

Ahhhh…San Francisco real estate is so much fun isn’t it? Our market is inundated with agents (4000+ at last count), there’s a growing number of real estate bloggers out there trying to separate themselves from the pack, and the amount of Realtor “marketing” hitting our Inbox is out of control. We like to call this RealSpam, and today’s little nugget reminded us of a line in one of our favorite movies…“Snatch” (The line isn’t actually on any clip we’ve found, but it’s where Brad Pitt turns and asks “you like dags” in the heavy pikey accent.)

“Sexy, Dog-friendly Condo one block off Union Street”

1944green

[You gotta love that peak-a-boo Golden Gate Bridge view.]

The moral of this story, 1944 Green was just reduced in price to $1,695,000 and the marketing has turned to the canine loving crowd. (Whether or not a building accepts dogs is actually a very common question when selling condos, but we’re not sure it needs to be the focal point. Of course, if it’s not selling, why not try.)

Hold on….this listing has more story. It is the first we’ve seen where we will learn (without getting into contract) what the sellers will miss most about their home…

greenseller

Our favorite line…”Practically no stairs or drama coming in and out of home with my belongings”.

And for you to debate…”Green Street is like living in the palm of the hand of Pacific Heights-flat, gentle, yet still spectacular”.

Finally, this goes to show that if you select and track homes that were previously out of reach or just a pipe dream, every dog has its day, and yours might be just around the corner.

-1944 Green [listing detail]

Short Sale at 1671 Bush, and we’re giving back!

To the untrained eye, 1671 Bush St. is nothing more than a “spacious, elegant Victorian flat priced well below market comparables”, but to the wizards behind theFrontSteps

…it is an approved short sale, so time is of the essence, and we would like to sell as soon as possible. We are offering 4% commission to the buyer’s agent.

Okay, so we got spammed and the email gave us the short sale clues, but now you have them too. And since you’re reading, we’ll give you back 1.5% of that commission should you need assistance with that purchase.

As for help with the wallpaper. Sorry, our hands are tied.

Update: And a reader comes in with more details:

It opened at 1.13 then dropped to 995k.

It’s also been on craigslist some times for 899k and must sell.

All told, it’s been on the market for well over 12 months at roughly the same price.

For most of the time it has been in foreclosure, which makes me think that the owners haven’t paid their mortgage for about the 12 months that it’s been on the market.

Last sold was approx 400k in 1997. I’m guessing the owners did a massive refinance to the highest price they could appraise it at. (1.13) then stopped paying the mortgage. I hope the owners are taking a nice holiday with the money the borrowed from the bank before they stopped paying the mortgage.

Especially since it is “AS IS” and it has had no takers at roughly the same price for the last 12 months, look out below!

-1671 Bush St. [MLS]

Check Mate! One day on the market and in escrow (2401 Divisadero)

It’s really only the kitchen floors that inspired the title “Check Mate”, or is it the quote from Eddy! that came along with his email?

[One] Day on market. In Escrow. I’d written about this one on [theFrontSteps.ORG] in the old days.

Buyers are out there and ready to strike!

We’d have to agree the high end buyers are out there, as are the mid-range buyers, but what about the low end?

-2401 Divisadero [MLS]

Lemonade for sale! And a Cow Hollow Single Family Home Pocket Listing too

As you know, we are out enjoying the weather, but said we might come in for some lemonade and do a post. And since our phones and emails never get a break, we thought we’d introduce you to something sweet, that hit both the phones and emails today:

[Update:]

1807 Greenwich: Contemporary Cow Hollow House

Offered at $2,350,000

Move-in Ready!

* Large-scale living/dining area with gas fireplace

* Kitchen/family room with new stainless steel appliances

* New Brazilian Cherry Floors

* 3 bedrooms on top floor

* Office on ground floor opens to secluded South-facing yard

* 2.5 baths

* New Loewen double paned Windows

* 2 car parking

* Detached on 3 sides

* Fantastic Location … 2 blocks to Union Street shops & cafes

Cow Hollow Single Family Home on 1800 block of Greenwich @ Octavia

Will hit the market Memorial Day weekend

3 bed, 2.5 bath, 2 car tandem with bonus room off the garage.

Built 1996

Contemporary, Granite, Stainless, the whole bit

Approx 2600+ square feet (waiting for exact number)

South facing yard

Price $2,350,000 new description above is better

Interested? Contact us. As soon as we have pics and more details, we’ll let you know.

A Done Deal at 3647 Washington ($910,000 over asking)

We’ve been through the over/under debate countless times, but when the big ones hit we have no choice other than high-light them, and 3647 Washington is no exception.

3647wa

According to MLS, this five bedroom, four and one half bath single family home in Presidio Heights hit the market March 26th at $3,595,000, spent a staggering 12 days (or less) actually “on” the market, and just closed escrow for $4,505,000…or 25% ($910,000) above asking.

We again say, look past the over/under debate on whether it paints a picture of the market and think more about the desire of one person to have that property so much more than the others. Also think about the ones that lost.

Reader Reports: Eddy! steps it up again!

Nice Listing on Buena Vista

I’m not 100% sure if this is a TIC or a Condo — shame it’s not a [Single Family Home] at 4000 sq ft — but I really like this place. Clean, right across from the park and BIG. Not bad for $2.95M.

Eddy!’s favorite part, the agent remarks. [They are quite good (read: over the top), we must admit.]

147 Buena Vista embodies a level of sophistication & elegance that is encapsulated in its early 1900′s architecture & a more modern 2008 rebirth. The era has not been lost & continues to evoke a moment when San Francisco was coming of age & setting the stage to become the Paris of the Pacific. This classic Queen Anne has been melded with vogue design – a successful integration of design and historical elements define & underscore the grand scale that is so prevelant throughout.

-147 Buena Vista Ave [MLS]

-Nice Listing on Buena Vista [theFrontSteps.ORG, social network]

2021 Webster Withdrawn, Market Crashes! Not so fast…

We’re going to call our very own “Eddy!” out on this magnificent post he made on what appeared to be the end of the road for 2021 Webster (you must be reading that “other” site too much, it’s affecting your logical thinking).

Your analysis would certainly delight the countless nay-sayers around the realternet (internet sites focused on real estate), but unfortunately we have bad news….it’s in contract! Yup, called on it the other day for a client, and it is, in fact, ratified. No idea on the price and terms, but she found a mate.

-2021 Webster: The saga continues [Eddy! on theFrontSteps.ORG]

-2021 Webster [sfnewsletter listing page]

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.

Before After and WTF on 154 15th Ave.

From a sale in January 2007 at $1,700,000, to a new listing and price of $2,400,000 in early May 2007, to a reduced price of $1,995,000 in middle May 2007, and an ultimate sales price of $2,100,000 (and your before photos) on the last day of May 2007, we find ourselves looking again at 154 15th Ave, but this time remodeled and listed at $3,298,000.

Hmmm….

Before:

15415thbefore.jpg

After:

15415thafter.jpg

Anybody care to wager on this one? Go ahead, you’re all anonymous, bet the farm.

-154 15th Ave [Redfin listing detail]

Hmmm….$354,000 Over Asking in a Down Market?

135coleIs that correct? Let’s see, sales price $1,553,000, minus list price $1,199,000 equals $354,000. Is that right? Hmmm. Day offer received 9/28/07 minus list date 9/12/07 equals 16 days on the market. Is that right? It can’t be. We just said volume is down 41%. Ohhhh. We get it. We’re just being led astray that the San Francisco market has tanked, when in fact, it has NOT! Don’t believe what you’re reading. Cooled, yes. Tanked, no. Go ahead and put that on the Craigslist Housing forums,“Planet of Slums”.

135-137 Cole in Park North. Two units, both vacant, both needing some love, and both flying off the shelf in unison.

Say it with us now. The market is still good. The market is still good. The market is still good. Eventually, it might sink in.

-What’s going on $500,000-$700,000 [theFrontSteps]

-God Save the Queens of the Craigslist Housing Forum [theFrontSteps]

-135-137 Cole [mls]

Damn those $14,000,000 homes, they keep messing with the median average

3730 Washington…barely a month on the market at a meager $14,500,000, needing some pretty serious remodeling, and now contingency free (pending), which means it is highly likely the sale with go through.

MLS

[Update: A reader quickly catches our late night mistake. Thanks. "I think you mean, 'messing with the average'. The median value is the the number that ends up in the middle of a sorted list of numbers (the average of the two middle numbers, if you have an even number of numbers).

If there are 1000 houses each priced at $1,000, the median price is $1,000. Adding a $14M home into the mix still yields a median price of $1000, but the average will go up to $14,985.-- Statistics Nazi."

And in case you need more ammo to laugh at our blunder, here's a nice lesson on the median from Bryan Flanagan at Twin Cities Property Buzz.

More knowledge on the matter: What the Hell is the Median and Why Should I Care? from Submedian.]

-Large and In Charge: 3730 Washington [theFrontSteps]

-For Non-Math Majors: Median Home Price vs. Average Home Price [Twin Cities Property Buzz]

More fun inside 2201 Baker

Today, one of our (we’ll just call him/her “readers”) had the chance to get inside 2201 Baker, the $2,490,000 fixer in Pacific Heights, get the scoop, snap a few photos, and open our eyes to a true diamond in the rough. And of course provide us with “before” photos, should we still be blogging when the “after” shots hit the market.

The scoop:

It is a foreclosure (not sure we mentioned that.) About an hour before it hit MLS, it received an all cash, non-contingent, over asking offer from a developer. (Offers were as they come, per the bank’s request, not sure we mentioned that either.) About an hour after it hit MLS, a second offer was received. As of today (we haven’t checked MLS) it should be ratified. Many more offers were attempted, but turned away.

The photos:

No wonder it went from 15 bedrooms to zero bedrooms

inside2201baker

inside2201baker2

inside2201bakerkit

The fun:

You’ll have to see the next post for that.

We’re hoping some of you readers can go ahead and run the numbers on whether this thing would make sense for a developer. Assuming it needs EVERYTHING, and is historical.

-2201 Baker @ Jackson. Read the disclosures [theFrontSteps]

-Fixer Facing Foreclosure, Move Fast! [theFrontSteps]

-How to sell a home in Today’s Market [theFrontSteps]

-Good Bones [theFrontSteps]

-Real Estate P*rn, for real! [theFrontSteps]

Noe Valley wins, Pacific Heights loses … BIG!

Way back when on July 3rd one of our readers, “Eddy”, sent in a post pitting two districts against each other titled “A tale of two districts”.

We showcased two properties:

douglassacto.jpg

689 Douglass, which absolutely flew off the shelf, and ultimately sold for $2,050,000 from the $1,895,000 asking price (Close of escrow was 8/15/07).

The other property being 2679 Sacramento, was withdrawn from the market at $1,550,000, and is now back on with a new price ($1,515,000), and a new lease on life, as it is only 2 Days on the Market (We guess, they’re not counting the 48 days on the market from the last go-round).

Let’s cross our fingers that it sells this time, but honestly our hope is fading.

And as Eddy pointed out, “Still no parking or back yard.” Not easy to put those two items in either. ;-)

For more of these types of neighborhood battles, we now have something similar that we call the Battle Royale, which you should check out and chime in on. We’re working on our next, Inner Sunset vs. West Portal. Stay tuned!

-“A tale of two districts” [theFrontSteps]

-689 Douglass [listing detail from sfnewsletter]

-2679 Sacramento [listing detail from sfnewsletter]

-Battle Royale [theFrontSteps]