This is big news. According to SFLuxe, the Penthouse I reported on back in July that occupies roughly 20,000 square feet of the Luxury St. Regis Hotel in downtown San Francisco has found a buyer.

How’s that for a Merry Christmas!

The San Francisco Association of Realtors Market Focus Report begins now:

Although these fall months are not typically known for high real estate activity, this year has proven otherwise, with strong pockets of movement occurring throughout the city, keeping the market active during these shorter days. Families have been rushing to purchase and settle into their new homes to prepare for the holiday season and upcoming year.

Single-Family Homes

As the number of homes for sale fell throughout the city by 27.3 percent compared to November 2010, the number of homes under contract this past month rose by 21.1 percent, while the number of homes sold rose by a substantial 22.3 percent. For properties that were priced below $700,000, the months of supply inventory dropped by 67.8 percent to 1.3 months. For properties priced between $700,000 and $1.2 million, the months of supply inventory fell by 12.1 percent to 2.8 months. Readings between one and four months typically indicate a seller’s market, where sellers have more negotiating power over home buyers.

One part of the city which continues to experience healthy sales activity is the central district that provides ample shelter from San Francisco’s famous fog and is one of the city’s sunnier regions. Since November 2010, the number of homes sold has risen considerably by 60 percent to a total of 40 properties. From the colorful neighborhoods of Haight Asbury and the Castro, to the more contemporary and family-friendly Noe Valley, to the posh and upscale Clarendon Heights, this part of the city offers a diverse array of housing opportunities for just about any home buyer.

Another area of the city which saw heightened sales activity is the southern part of the city that stretches from San Francisco City College to beyond Candlestick Park. Compared to this time last year, the number of homes under contract in this district has risen by a whopping 80 percent, while the number of homes sold has increased by 58.3 percent to a total of 57 properties. Some of the neighborhoods in the area, such as the Excelsior and Mission Terrace, offer a suburban feel, easy access to public transportation, and some of the best prices in the city, which makes them great locations for first-time home buyers.

Condominium Sales

Although the number of condominiums for sale fell throughout the city by 37.2 percent compared to November 2010, the number of condominiums under contract rose by 17.7 percent and the number of condominiums sold increased by 23.1 percent. For condominiums that were priced between $500,000 and $900,000, the months of supply inventory contracted by 61.4 percent to a reading of 2.2 months. For luxury condominiums priced above $900,000, the months of supply inventory decreased, by 49.8 percent to 2.6 months.

One part of the city which experienced a robust increase in condominium sales activity is the central-eastern part of town, whose landscape continues to evolve from its former warehouse and factory occupied streets. Since November of last year, the number of condominiums sold has jumped by 56.4 percent, from 39 units to a total of 61. The central-eastern district includes such neighborhoods as up-and-coming South Beach, home to AT&T Park and some of the most stylish condominiums in the city, as well as SOMA (South of Market) and Yerba Buena, which has seen an infusion of moderately priced condominiums in recent years.

Outlook

The Conference Board reports that consumer confidence surged in November to its highest level since July, a sign that Americans may be more willing to spend. The Conference Board said that its consumer confidence index climbed by 15 points in November to 56 points, the highest it has been since a reading of 59.2 this past summer. Although still well below a reading of 90, which indicates an economy on solid footing, the confidence numbers are encouraging.

According to the State Employment Development Department, the statewide and local job outlook continues to improve as California’s unemployment rate dropped for the second straight month in October to 11.7 percent. Bay Area counties were all below the State average, including San Francisco, which dropped to 8.1 percent from 8.3 percent the prior month.

As the cost of renting in the city continues to rise, and with the average rent currently at $2,572, more and more people should be considering owning a home. There are a variety of rent vs. buy calculators available online and anyone of them can be used to help with a decision as to whether to rent or buy.

As local tech companies like Zynga and Yelp prepare for initial public offerings, more and more of their employees are looking towards owning a home in San Francisco. Reuters reports that recent competitive bidding in some neighborhoods has pushed home prices up more than 15 percent from last year in some areas such as Noe Valley, SOMA and Potrero Hill.

With the improving economy and surge in pending sales, 2012 is likely to see a stronger San Francisco real estate market than what buyers and sellers have been accustomed to since 2008.

-San Francisco Association of Realtors Market Focus Report

I mentioned this one a bit ago, and you can’t deny it “sounds” wonderful. But we never had a look inside the home, let alone inside the gates. That is until now.

Have a look at Villa De Montaña in St. Helena an let your imagination soar!

Currently not marketed on MLS, this home is on 20+ acres and surrounded by 1,000 acres of the Mayacama Mountains. Asking $16,950,000, it is a 32 room estate with 2 master suites, 4 guest suites, 3 offices, 10 bathrooms, a state-of-the-art gourmet kitchen, breakfast room, sun room, wine cellar, exercise studio, library, and the list goes on and on.

Although not decorated to my standards, the home is quite lovely indeed, especially this killer patio…

I’d love to come visit you on occasion and (insert British accent here) sip a lovely glass of Napa Valley wine on your lovely estate, and marvel at the exquisitely manicured grounds, enjoy delicious meals from your private chef, and form extraordinary friendships with your undoubtedly, absolutely delightful friends. Cheers…

For more details, visit Villa De Montaña, St. Helena, $16,950,000 on PocketListings.net.

-More Wanderlust [theFrontSteps]

Moving on down the roads a bit toward the city center, we stumble across this little home recently listed on MLS at 2020 Jackson asking $20,000,000.

“The distinguished & historical Hellman Mansion is located in a prominent Pac Hts location, nr Lafayette Park. The Classical Revival estate, designed circa 1902 by Julius Krafft, was thoughtfully restored maintaining the architect’s original masterpiece, a harmonious blend of grand design, elegant appointments, modern comfort and impeccable renovation. On four impressive levels, accessible by elevator, this 8BR/7+BA home is a rare jewel. Magnificently proportioned living & dining rooms, grand terraces, sumptuous master suite wing, double winding stair, 7 frplcs, au pair suite, main and catering kitchens, media room, family room, family dining, wine cellar, salon and library. Solar. Stunning north & east bay views w/Alcatraz, Angel Is & Marin.”

That’s a lot of 20′s no matter how you slice it, but I gotta wonder if their vision is 20/20 on this one. Last sold 2004 for $15,000,000, it will be interesting to see if this magnificent slice of prime San Francisco real estate on Jackson will see one million Jacksons or one million Hamiltons alongside another million Lincolns.

Speaking of price reductions and a lesson in (price) history…remember 2845 Broadway?

“A legend in the making…a Gold Coast Masterpiece. Clad in French limestone an exquisite Neoclassical style villa with stunning Golden Gate and Bay views, garden and a guest house with 19th Century Italian tile roof comprise this unique compound spanning two lots from Broadway to Pacific. One of the world’s finest residential addresses. Currently under construction, this property presents a unique opportunity to complete an architectural masterpiece in one of the City’s most prestigious locations.”

(Previously) under construction indeed, and originally listed on the MLS in March of 2006 for $65,000,000, we see that history is telling us there really isn’t any property in San Francisco selling for that kind of cash. A+ location or not, we’re talking an unfinished multi-million dollar mansion…and you don’t even get a pool! Maybe a MASSIVE diving board on the patio could afford several mile high flips into the bay. Just wear a helmet.

Finally, moving ever so much closer to downtown, we come to 2323 Hyde on the corner of Hyde and Lombard right at the crest…you know where all the tourists stand in the street, take photos, play Frogger, hop on and off the cable car, and generally get in the way? Yeah, it’s right there.

“This beautiful home was commissioned by Fanny Osborn-Stevenson, the widow of author Robert Louis Stevenson. It is a Willis Polk design and it was built in 1900. It has been meticulously renovated. Complete with mature Landscaped Garden, Roof Terrace & Patio. 4 Car Parking and Elevator to all floors. A true San Francisco Masterpiece.”

Look beyond the (fill in the blank) interior decorations and focus on the property. It’s a beauty in a great location, and it’s also been recently reduced in price from $15,000,000 to a much more reasonable and potentially bidding war price of $14,900,000. Hurry! It’s only been on the market 345 days!

Happy multi million dollar and Metal Monday! I wonder if Axl would want one of these…

-2500 Broadway [MLS]
-2020 Jackson [MLS]
-2845 Broadway [MLS]
-2323 Hyde [MLS]
-Multi-Million Dollar Properties Of Note
-St. Regis Penthouse Was $70,000,000 Now $35,000,000 [theFrontSteps]

Two Hundred Brannan #328 is on the MLS asking $2,495,000. Is that a fair price you ask? Well, considering a very similar unit directly above hit the market about one year ago at $2,800,000, and found itself in contract shortly after and closed for $2,700,000, I’d have to say yes, and I’d love to come to your house warming party.

As always, if you’d like more information about this or any San Francisco property, you know what to do.

-As soon as it hits MLS, I’ll put the link right here. Deal? Poof! Here it is.

-Marina Blvd Luxury Waterfront Home: $4,750,000 details [Principals contact me for details, agents just create an account.]
-(Potential) America’s Cup Race Route Revealed, Realtors Frothing [theFrontSteps]

And it could be yours for $35,000,000…chump change.

-Schedule a Private Showing
-Deluxe San Francisco Penthouse to Relist for 50% off [Wall Street Journal]
-On Top Of The World At The St. Regis San Francisco [theFrontSteps]
-St. Regis Penthouse Marketing Details [Sotheby's]
-Both Millennium Tower’s Grand Penthomes Are Sold, Thanks To A Yacht [theFrontSteps.com]

-Contact For Details
-~3800 Square Foot Sea Cliff Home (Fixer) For You [theFrontSteps]

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]

-Tiburon Pocket Listing [PocketListings.net]
-Agent/property website