1 Ecker (16 Jessie) Unit 406 Hits The Market, Monday Open House Was Packed

You may have already seen the press my good friends over at Curbed gave to this awesome condo in the heart of downtown San Francisco (Financial District/Yerba Buena), but if not, here you go: 16 Jessie (1 Ecker) #406, Junior 1br/1ba, $495,000

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Sustainable down to its very foundation, this century-old building (1 Ecker) was painstakingly restored and updated with brand-new modern interior fixtures and finishes. This top floor, Junior 1br, 1ba unit features soaring 12′ ceilings, exposed brick, open kit/liv area, bamboo floors, Cesarstone kit countertops, espresso cabinetry, stackable Whirlpool High Efficiency W&D, Bosch Energy Star appliances, addl. storage, bike parking, & shared roof deck/bbq area. Furniture is negotiable. Walk to shops, restaurants, public transportation, Ferry Building, and so much more. This is the perfect Urban dwelling for anyone.

On a side note, this was the first ever Open House I’ve done on a Monday evening and the traffic was through the roof. Perhaps this could be the first step to getting buyers, sellers, and agents their Sundays back! Many, many of the people through the door preferred the Monday evening showing over the standard Sunday 2-4pm window for open houses, citing their inability to do anything on Sundays because this window falls smack dab in the middle of the day. My vote is to get our weekends back. What about you?

I’ll have it open again:
Thursday 4/17 from 5:30-7:30pm
Saturday 4/19 from 2-4pm (my colleague will be there)
Tuesday 4/22 from 2:30-4pm
Offers, if any, will be reviewed Wednesday 4/23 @ noon.

-A Slice of 1 Ecker In Yerba Buena Can Be Yours For $495k [Curbed]

Prices Jumping – Yet Again – Across San Francisco

The San Francisco real estate market grew increasingly frenzied as the first quarter of 2014 progressed, leading to another surge in home prices in virtually every neighborhood in the city. The high-demand/ extremely-low-inventory/ competitive-bidding situation is similar to what occurred first in spring 2012 and then, to an even higher degree, in spring 2013. After the market seemed to stabilize in the second half of last year, we didn’t expect to see it turn this fierce in early 2014, but right now it appears to be every bit as ferocious as last spring’s.

Of major metro areas, the new Gallup-Healthways survey ranked SF-Oakland second in the nation (behind San Jose-Santa Clara) on their index for “well-being.” Though already the second most densely populated city in the country (after NYC), San Francisco simply has many more people wanting to live here than there are homes available to rent or buy.

Sales over Asking Price
The heated competition for new listings coming on market has resulted in an astounding percentage of sales occurring above, and often far above, list price.

This chart below breaks down, by neighborhood, the average sales price to list price percentage for the 90% of homes selling without price reductions. Of the areas assessed, Bernal Heights came out on top with sales prices averaging an incredible 21% over list prices over the past 2 months.



Median Sales Price Spikes
Typically, the first quarter of the year does not show a dramatic increase in median sales prices over the previous quarter – in fact, a decline is not unusual due to holiday market dynamics. But the first quarter of 2014 saw large spikes in median prices for both single family homes (houses) and, especially, condos in San Francisco.
This next chart is a look at quarterly median price appreciation over the past 3 years.



Longer-term trends: While virtually the whole country has been experiencing a large market rebound, San Francisco, because of our particular economic circumstances, is generally outperforming almost every other market area. The big exception is Silicon Valley, whose high appreciation rate is being driven by many of the same employment and demographic causes.



Far Too Little Inventory
When the market recovery began in earnest in early 2012, there were complaints of a shortage in inventory. In 2013, the market grew even more heated and supply declined further to what felt like desperately low levels. Now in 2014, amid no lessening of demand that we perceive, the supply of SF homes available to purchase has dropped again.

There are increasing numbers of new-construction housing units coming on market – and many more being planned and built – but so far they’re being snapped up, at very high prices, without noticeably altering the supply and demand dynamic.



Listings Selling Faster than Ever



San Francisco Neighborhood Snapshots
We updated analyses for a number of city neighborhoods with enough sales for quarterly data to be meaningful. In every district we looked at, there were significant spikes in median sales prices and/or average dollar per square foot values in the quarter just ended.
Below are two samples, but our full collection of long-term neighborhood analyses can be found here (some updated through the first quarter, others through the end of 2013):San Francisco Neighborhood Values







Affordability by Neighborhood
We broke the city down by neighborhood according to the number of house and condo sales in each price segment. Of course, in a generally appreciating market, these prices continue to move upward en masse. Below are 3 analyses from our 11-chart report, which can be found in its entirety here:Where Can I Afford to Buy in San Francisco






Please call or email if you have any questions or comments regarding these analyses.

Fluctuations in median and average sales prices and average dollar per square foot values are not unusual and these fluctuations can occur for other reasons besides changes in value, such as seasonality, inventory available to purchase, buyer profile and new condo development projects coming on market. How these statistics apply to any particular property is unknown without a specific comparative market analysis. All data from sources deemed reliable, but may contain errors and is subject to revision.

SF vs. NY – The Debate Continues

Way back on October 15th, 2007 I wrote a post: Battle Royale: San Francisco or New York City, If You Had To Chose. It was, and still is, an extremely popular article that has garnered over 100 comments, and still ranks incredibly high on search engine queries of the like. For a small shop like mine, that’s pretty impressive. Our readers shared some incredibly good points about both cities, and it is a debate that will likely go on well after I have physically left this Earth, and well after my kin have parted. There will never be a correct answer.

Like I said back then, San Francisco has a ton of things to offer that New York simply doesn’t (immediate access to outdoor recreation probably falling top of my list), and there are things New York has that San Francisco simply never will (snowstorms and brutally cold weather come to mind). But it is what it is, and it will always be.

That said, there were a couple articles written recently that I wanted to share with all of you that take a different approach to the topic, because I frequently get clients from out of town wondering what the heck San Francisco is all about. These two articles are not a question of whether one is better than the other, more a question of whether one has BECOME the other. In the end, they can certainly help you draw a conclusion about the city you’re buying into, and the city you might be leaving.

In my humble opinion, San Francisco will never be New York, and New York will never be eclipsed by San Francisco. New York conjures up the image of power to me, it is the EMPIRE STATE after all. It moves fast. It never sleeps. It’s gritty. It’s tough. San Francisco (and I’ve lived here a while) brings to mind freedom, outdoor living, really smart people changing the world, getting rich, having fun, and living life to the fullest, but they will never have the power and image of the EMPIRE STATE. San Franciscans can puff their chests, but deep down they are fragile. We’re golden boys and girls living in the GOLDEN STATE, and that’s just fine.

I could go on and on, but I digress. Both cities are amazing in their own right. Both cities have pluses and minuses. But if I’m not mistaken, Tony Bennett did not make famous a song about losing his heart in New York City.

Just sayin’…

-Is San Francisco New York [New York Times, Kevin Rose]
-Why San Francisco Is Not New York [New York Times, Nick Bilton]
-Battle Royale: San Francisco or New York City, If You Had To Chose [theFrontSteps, Alexander Clark]

How Much Is My Home Worth?

“How much is my property worth?” “How much could we get for our place?” “How much do you think my condo would sell for?”

San Francisco Median Home Price Graph, What Is My Home Worth

I get asked different variations of this question every single day, everywhere I go. It doesn’t matter if I’m at a dinner party, bbq, school event, or even on a field trip with my 7 year old. It’s okay. It’s totally normal. Everybody wants to chat real estate. It’s why I started this blog, and it’s a go-to if conversation about Blue Bottle versus Ritual Roasters gets so heated it’d be better left settled in the Octagon. Everybody wants to know if their home value has gone up, and everybody wants free information about the market and their property. So how does a real estate professional accurately answer this question in a market where (currently) home values seem to be going nowhere but up every week, and every new sale sets a new high water mark in your area?

The answer is this, nobody REALLY knows. A couple things I do know are Zillow Zestimates do you no good in San Francisco, your property is worth more than your cousin’s in Kansas, and your property could be worth more than it ever was. I know what comparable properties have recently sold for, and I know how I can help you market, show, and price your property to get the maximum number of people through the door in an effort to let the market dictate what is the maximum value your property is worth.
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Something For You Fence Sitters And Gold Panners To Ponder…

1761hayes

My clients just got shelled by 16 other offers on 1761 Hayes, a top floor 2 bed, 1 bath condo in NOPA asking $849,000. We offered $1,051,000, and they accepted an offer that was “barely higher”. So here’s a thought:

I’d say it’s time for many of you long time residents sitting on the selling fence to pack it up, cash out, and head for greener pastures where the $$$ you make on your sale can buy you acres of space, money in the bank, and plenty of breathing room. I’d even suggest all of you gold panner techies flocking to SF looking to strike it rich consider building another hub for tech activity somewhere else. Don’t get me wrong, I love all of you, many of you are my clients, we love what you’re doing for the economy (for that matter, the world), and there is a reason everyone wants to be in San Francisco, but at some point, I’d think even you, the innovators, would get tired of throwing your money at sellers and it still not being enough. Surely, the internet works in other locales around the world, and surely companies can be built and go viral from anywhere. Perhaps the companies that are leading the innovation now should open satellite offices in markets where their talent can afford to live? I know Oregon, Seattle, and Salt Lake City have a reasonable real estate market, as well as hip scene. Makes perfect sense to me, and might ease the frenzy that is San Francisco real estate. What do you think?

On a side note (somewhat related to technology): in case you aren’t on the VIP list, and you’re stuck waiting in line for your real estate agent to send you stale data via snail mail about recent sales in your ‘hood, comps that by the time they reach you are old news, I published yet another issue of sfnewsletter last week, and it’s chock full of good real estate porn, including a few good overbids you’ll want to share amongst friends, and a link to the stuff you really want: real time market data sortable by neighborhood and property type (courtesy of The Goods-SF).

Get on the list at sfnewsletter.com. Get out of town with money in the bank by giving me a shout (alexclark@gmail.com, 415-254-5351).

-1761 Hayes Property Detail [theGoods-sf.com]

Possible Shift In San Francisco Real Estate Market? Should You Sell Your Home Now?

February 2014 San Francisco Market Report

It is far too early in the year to reach definitive conclusions regarding substantive changes in the market, but there are indications of a number of shifts. From the hurly burly on the street, the word is that the quantity of offers coming in on new listings is declining. Where a new listing might have attracted 10 or 12 offers last spring, 3 or 4 are coming in now; where 3 or 4 offers would have arrived, the seller is getting 1. And, according to Broker Metrics, for every 2 listings that offers in December and January, another listing expired or was withdrawn without selling.

The amount of competition deeply affects home price increases.

There are still a very large number of buyers looking at listings online and at open houses. But more of them appear to be first-time buyers and they are proceeding more cautiously. Some buyers are burned out on the multiple-offer bidding frenzies of last year and are reluctant to participate in them. Though the market remains hot by any reasonable standard, by some statistical measures it is cooling. This may reflect a transition or only a lull before the spring sales season begins.

Recently, the investment-property analysis firm Reis speculated that SF apartment-rent growth — which has been extraordinary by any measure, especially in a period of low inflation — will slow despite intense demand and very low vacancy rates, simply because people can’t pay any more. It’s an idea which may or may not be correct or apply to other types of housing costs. Rent rates do play a role in purchase prices as buyers often compare the net housing costs of the two options.

Median Sales Price Appreciation by Neighborhood

In San Francisco, some of the most affluent neighborhoods — such as the Pacific Heights-Marina district and the Noe, Eureka and Cole Valleys district — started their recoveries in the second half of 2011, well before virtually every place else in the city or country. When 2012 began, prices in these districts soared, while other areas played catch up. In 2013, that dynamic flipped: Appreciation rates in comparatively less expensive neighborhoods surged, while slowing in the most affluent areas.

A big part of this is simple affordability: Priced out in one neighborhood (or city), buyers focused on others, similar in ambiance but less costly. Home prices there looked so good in comparison that buyers were willing to bid them up. The huge decline of distressed sales in areas severely affected, such as in Bayview, has had an outsized effect on median sales prices there. Continuing gentrification, as in the Mission, and increasing “luxury” condo construction in less affluent areas have also played parts in this trend. It’s not as if demand plunged in the Pacific Heights-Marina district (or Noe Valley, for that matter). Quite the contrary: its 9% appreciation rate in 2013 translated into the city’s largest median price increase in dollar terms ($300,000). However, in the previous year, this district saw year over year median price appreciation of 25%.

Note that median price appreciation does not perfectly correlate to changes in home values, as it can be affected by a variety of market factors. It does give an approximate sense of market trends.
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Just Sold! 1622-1626 Great Highway: Save The Waves Coalition Gets A Check

I am happy to say I just represented part of the buying group for this wonderful property on the Great Highway. You may remember the post my colleague did about 1622-1626 Great Highway (Ghost of Sunset Past: The Moss Flats)? Originally listed for $1,349,000 our clients got it for LESS THAN ASKING (it can be done). It’s a done deal at $1,265,000, and everyone is happy, including Save The Waves Coalition, a group dedicated to protecting our oceans, beaches, and waves.

In case you haven’t heard, every transaction I will donate a portion of my commission to the charity/nonprofit of my clients’ choosing, and my clients this time chose Save The Waves. If any of you at Save The Waves are reading, the check is in the mail!


Congratulations to our buyers. This is a great property in an awesome location.

I am available to help you, your friends, and your family with all of your real estate needs, and I am feeling really good about now giving a portion of every sale to charity/nonprofit, so help me do more!

-Ghost of Sunset Past: The Moss Flats [theFrontSteps]
-1622-1626 Great Highway Details [theGoods-sf.com]

The House Of Haight Ashbury Vintage Gets $1.3M More, Two Potrero Hill Comps You’ll Want To Track, And More Overbids To Ponder

Before I show you the list of the top 10 overbids, have a look at the building that houses Haight Ashbury Vintage:
Haight Vintage Building sells for $8,250,000
Listed for $6,950,000 back in October, it just closed for a mere $1,300,000 more. Apparently, Vintage is more hip than you thought…

I have more story. Just yesterday I heard of 25 offers on this condo on Missouri in Potrero Hill, and there will be many on this other condo on Mississippi, but those are not done deals. Get on the list and know when they close.

So…the overbids. Regardless of where these are priced, consider the number of buyers out there bidding on what little inventory we have, which ultimately drives the price up. Think it’s just a matter of pricing below comps to eventually get to market? I don’t. The data shows staggering growth in SF, and a possible plateau, but the truth is, buyers far outnumber sellers, and until those two numbers meet in the middle, we can expect another year of mind boggling overbids. Another thing to consider is when these properties went into contract, that being the “slowest” time of year for San Francisco real estate: The Holidays and a couple weeks after.
Anyhow, here you go. Overbids, cuz I know you love them:

Address BR/BA/Units DOM List Price Sold Price Overbid
2510 39th Ave 2/1.00/N/A 15 $599,000 $788,000 31.55%
179 Vienna St 2/2.00/N/A 11 $499,000 $650,000 30.26%
200 Amber Dr 4/2.50/N/A 12 $1,299,000 $1,670,000 28.56%
506 Molimo Dr 3/2.00/N/A 31 $859,000 $1,100,000 28.06%
12 Sherwood Ct 3/2.00/N/A 5 $788,000 $1,000,000 26.90%
700 Illinois St 1/2.00/3 13 $499,000 $630,000 26.25%
726 Masonic Ave 2/1.00/ 34 $750,000 $925,000 23.33%
94 Eastwood Dr 2/2.00/N/A 26 $898,000 $1,085,000 20.82%
738 Masonic Ave 2/1.00/ 6 $799,000 $955,000 19.52%
1501 Haight St 1509 N/A/N/A/14 39 $6,950,000 $8,250,000 18.71%

PocketListings.net Founder Alexander Clark To Join Top Agent Network As Advisor

The big news in Off Market real estate to start the year…

Top Agent Network, Inc. (TAN) announced January 3rd that Alexander Clark, founder and CEO of the online real estate platform PocketListings.net, has agreed to become an industry and technology advisor to Top Agent Network. TAN is also acquiring the pocketlistings.net domain name from Mr. Clark.

Top Agent Network CEO/Founder David Faudman says of the new arrangement, “I have great respect for Alexander as a true real estate entrepreneur. We are excited to bring his insight and expertise into Top Agent Network.”

Mr. Clark, currently a real estate agent at Paragon Real Estate Group and an active member of Top Agent Network’s San Francisco chapter, founded PocketListings.net in 2010. While switching his brokerage affiliation, Mr. Clark became acutely aware of how fragmented non-MLS networking was between brokerages. To help solve this problem, he started Pocketlistings.net, a brokerage independent non-MLS listing exchange service.

As a top-producing broker in Marin County, California, David Faudman had recognized similar needs in his own real estate sales business. He developed Top Agent Network in the mid-1990s, originally as a simple email list-serve for local high producing agents, then as the online application in 2009. Top Agent Network allows members to exchange pre-MLS and non-MLS information across all brokerages. This exchange includes: Listings, Buyer Needs, Service Provider Recommendations and Industry Discussion.

“Restricting membership to verified high-ranking professionals makes for a highly trusted, productive online exchange,” notes Mr. Faudman. “Our members use TAN enthusiastically in the markets we have launched so far.” Top Agent Network currently has 30 chapters nationwide and has attracted a broad roster of some of the highest producing agents throughout the country.

“That’s what interested me in joining TAN,” said Mr. Clark. “Technologically, the real estate industry is a step or two behind. But TAN members here in San Francisco use Top Agent Network religiously. TAN is a cutting edge real estate company that is changing the way top agents conduct their business. I am excited to bring my knowledge and experience to Top Agent Network.”

Top Agent Network is a paid membership available to qualified top producers in local chapters by invitation only.

For more information, please contact me.

Holiday Happenings. Good News! My Goals And Predictions For 2014. Plus, I’m Giving Away Money!

Happy New Year to everyone!

I dare say it was a quiet holiday for me for the first time since jumping into real estate 11 long years ago, and it felt weird to have so much free time. It was a struggle to really let go of the iPhone, turn off the internet, and live in the now, but I managed, and dammit if I wasn’t pretty good at it too. I can highly recommend unplugging (especially you parents) and leaving your Smartphone behind, lifting your head up, and noticing all the insanely awesome things that take place in the world immediately around you, all day, every day.

This holiday break I played some ice hockey, did some Cross Country and Alpine skiing, and since we (San Franciscans) became locked in a pattern of no rain, sunny skies, and Easterly winds, I managed to get my fair shake of surfing in as well. Now, my boys are back in school, so I can get back to the task at hand…work.

On that note, I have exciting news that you may have already heard, and that is “Top Agent Network scoops up domain name PocketListings.net and CEO Alexander Clark“. That’s right, I am joining Top Agent Network as an Industry and Technology Advisor, and PocketListings.net is no longer mine. It has been a great resource for myself and many agents around the country, but now if you want the inside track to off market real estate, you’re going to have to officially be on my radar, and be thankful that I am a Top Producer. I am excited about the prospects ahead for Top Agent Network and my role with them, and I am excited to be your go-to Real Estate agent for all of your San Francisco real estate needs.

Looking forward to 2014, agents around San Francisco are beginning to finally send their clients pertinent, real-time, real estate market information as part of their marketing campaign and their clients around the Bay Area can begin to rejoice in the fact that print mailers, and all of the other crap you are bombarded with from those in our industry will hopefully taper off. To put it another way, you (the property owner, or buyer) can track sales where you want, when you want from any internet connected device. It is my mission to keep you informed about the market in your area on a micro and macro level, and if you’re agent is not sending you The Goods, smack them upside the head and tell them it’s about time they do!

My predictions:

Our market will see continued multiple offer situations, continued low inventory, a decrease in hype about Noe Valley and the Mission, and increased interest in areas like NOPA, the Richmond, and the Outer Sunset. Overall it feels the market may have calmed, however slightly (could very well be the holiday doldrums), and I do feel there will be more opportunities on properties that set an offer date, do not receive any offers, and thus become that much more negotiable on price and terms, so patience might just pay off. Keep in mind, if our market has calmed, that does not mean by any stretch of the imagination it has tanked. We were at a fever pitch, and anything less than that would be awesome for all of you buyers out there, and still incredibly rewarding for all of you sellers.

It will rain, at some point, and it will snow in the mountains before May. I regret to say, the 49ers will lose their next game (let’s hope I’m wrong), but I’m happy to say, the Warriors will win theirs. I predict San Francisco will get “The Big One” sometime in my lifetime, and Ocean Beach surfing conditions will go back to normal (this is not normal). Hipsters will continue to come up with cool innovations, and rule our world. They will procreate, and facial hair (for boys) will be popular at more and more insanely expensive San Francisco pre-school classrooms around the city. Coffee will be the new water. Carrying or using a single use plastic water bottle anywhere will immediately garnish dirty looks (as it should), and residents will slowly begin to realize that big “green bin” is not just for gardening waste.

I want to give away money.

I will give 2% of my commission to a charity of your (the client’s) choice with each closed transaction. When I hit $25,000,000 in sales volume, I will give $25,000 to one local charity or organization. (I’m still finalizing which one, and I’m open to suggestions). When you refer me to your friends and family, and a transaction is closed, you will receive a $100 gift card to a local restaurant or business of your choice. I am in the local business, and I’d like to support everything local. Spread the word, so I can share the love!

I again wish you all a happy, healthy, and prosperous New Year filled with fun, excitement, challenges, rewards, and lots and lots of snow! Pray for snow! We need it. Enjoy a few pictures of my 2013, and here’s a raised glass to many more excellent memories, and new friends in 2014.

Alex

“It’s Not Everyday You Trust A Realtor To Buy A Home Sight Unseen”

Happy Holidays to all of you, and congratulations to some more happy clients on their purchase of one awesome San Francisco property!
IMG_3366

Our search for a home in San Francisco started after reading Alex’s site TheFrontSteps.com. We were impressed with his insight into the market and his interest in finding a property that fit our needs. Due to a job transfer, we had limited time to search for property and even less time to actually see what was available. Through many phone calls, text messages, and emails, Alex gave us a solid understanding of neighborhoods, prices, and how to make a competitive bid. It’s not everyday you trust a realtor enough to buy a home sight unseen, but Alex found us the perfect property! Alex listened to our needs and interests and found a home for us that we love, in a neighborhood that fits our lifestyle. And, did I mention that we did all this in less than 30 days? Thanks, Alex!

You’re so very welcome Kris, and you can’t imagine the relief I felt when you told me you loved the place! I was sweatin’ for days!

-More Testimonials Of The Service I Can Provide [Alexander Clark, theFrontSteps & Paragon Real Estate]

Dropping Knowledge: San Francisco Property Pie Chart

I know you’re all like me, you drive around town looking at all the wonderful, insanely expensive property we have here in San Francisco. I know you wish you knew how many of the properties you see were single family homes, how many are condominiums, how many are big ol’ properties of which you’d love to be the landlord (or maybe you already are). My company came up with this nice little pie chart for all y’all. Enjoy:

sf_housing_units

When Buying Luxury High Rise Property In Downtown San Francisco

I would like to thank my agent Alex Clark for his excellent and hard work in the past year for finding me the right place in this competitive market. My property just closed about one week ago, and I’m thrilled! I approached Alex over one year ago in search of a condo in downtown San Francisco. I had very specific and narrow requirements for the type of unit that I was looking for. I am a very busy professional with a challenging travel and work schedule. Alex was focused and determined to find me the right place with the right price. His swift approach and tireless work ethic helped me to secure the unit that meets all of my specs. He should be top of mind for anyone who would like to find a high-end piece of real estate in the city by the Bay. Alex is THE go-to-agent to have for your new home purchase!!!

Louisa L. Zhao Dresser M.D.
Attending Physician of Dept. of Internal Medicine
CPMC, California Pacific Medical Center
Sutter Healthcare System, San Francisco

Thanks Louisa! I’m glad it all worked out, and I appreciate you and your business. Hi to your parents, and lemme know when is da pool party!

-More Testimonials [Alexander Clark]

SOLD! 1471 McAllister

I am pleased to say, I just helped my clients secure this wonderful property in the Alamo Square (bordered by and often referred to as NOPA) area of San Francisco, located at 1471 McAllister. It’s a fabulous 3 bed, 2 bath property in an extremely awesome location, and we are thrilled to say we “won” this most competitive offer situation.

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List price: $995,000

“We Were On The Market For 1 Day Before Receiving 3 Offers (2 All Cash!)”

From my clients who just sold 1676 Hayes St.

My husband Jon and I wanted to take a minute to share our great experience working with Alex. He knows the SF market so well and was able to help us get staged and ready to sell very quickly. We were on the market for 1 day before receiving 3 offers (2 all cash!). All were well over asking and we closed 10 days later! We’d be very happy to work with Alex again and highly recommend him.- Elizabeth & Jon

Glad to be of service, and glad it turned out so well. Enjoy your skis!

Putting Together A Winning Bid “Takes A Lot More Than Just Choosing The Right Number”

wallerkit

When my wife and I decided to move up to San Francisco, we knew the real estate market would be incredibly challenging. From our first conversation with Alex, we recognized that he understood what it took to find the right property and make a compelling bid. It was an arduous five-month process, but Alex never tired in his search for our perfect home. He maintained the right balance of enthusiasm and realism when it came to choosing our bids. I consider it a mark of his good instincts that we came within a hair’s breadth of winning several earlier bids that we ultimately lost, since it meant that we were making offers that were competitive without being foolishly high. Once we found the amazing home we’re now in, Alex worked tirelessly to help us put together a winning bid—it takes a lot more than just choosing the right number, by the way—and close on time, despite a string of unexpected complications and swerves along the way. We can’t recommend Alex highly enough!- Peter and Erin

Thanks guys. Hope you enjoy your casa, and can’t wait to see how the downstairs evolves!

“We Received Multiple Offers On Our Condo And Closed Escrow In 5 Days!” 16 Jessie a.k.a 1 Ecker

01-16jessie409-front-800res

From a recent seller represented transaction, in which we not only secured an all cash offer close in five days, but my clients are renting the property back, sold the furniture, and received $1000 worth of wine from the buyer. Bam!

Mike and I wanted to share our experience with our phenomenal realtor Alex Clark. From the get go, Alex knew we had a time crunch and was on the ball from day one. With his network of contacts, his social media outlets, and getting us on the front page of SFgate – we received multiple offers on our condo and closed escrow in five days with an all cash offer that was well over asking! We would highly recommend Alex for all your San Francisco real estate needs!
-Mike and Joe

I can do the same for you, but no guarantees on the wine.

More pics:

-Bay Area Loft Conversions: New Life For Old Buildings [SF Gate]

Effect of Government Shutdown/Default Worries On The San Francisco Real Estate Market

This is a very unnerving set of data. Let’s hope it’s too small a timeframe to give an accurate assessment, but we could very well be on the cusp of a drastic shift in the market if the Government doesn’t pull their head’s out of their a$$es and get back to work!

Effect of Government Shutdown on SF Real Estate

Short period data often doesn’t tell the whole story, so we dug a little deeper to see how October 2012 played out, and you’ll see absorption (properties accepting offers) hovers in the 9-11% range. Therefore, a dip down to 6% is a bit concerning.
[Click Image to Enlarge]
govtshutdownhistory

Buyers get ready. This might be your time to finally get in the market without any competition. Sellers, don’t panic. There are still plenty of buyers out there that want your property, just get ready to negotiate rather than having your cake and eating it too.

San Francisco real estate weathers market storms much better than the rest of the nation, we have a true supply/demand problem here, we’re surrounded by water, in most neighborhoods building over 40 feet is prohibited, and our city really doesn’t like to approve development, so as long as people still want to be here, companies continue to innovate, we think we’ll do just fine. But who knows. This government shutdown thing certainly isn’t helping anybody out.

Think positive thoughts….

Coming Soon: 16 Jessie (1 Ecker) Unit 409 – Early Century Brick Meets 21st Century Modern In The Heart Of San Francisco

This top floor, one bedroom, one bath, ultra luxury condominium in the heart of San Francisco will be hitting the market (with any luck) on Friday August 9th [It's now officially on the market], but since you’re a fan of theFrontSteps, you get to see it here first.

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This unit is not only on the top floor, but also on the North East corner and features soaring 12 foot ceilings, open kitchen/living area, bamboo flooring, walk-in closet, custom kitchen pantry, Cesarstone kitchen countertops with bar seating, espresso cabinetry, stackable Kenmore High Efficiency Washer & Dryer, Bosch Energy Star appliances (Dishwasher, Gas Range & Hood), Samsung French Door Refrigerator, microwave, and a 64″ Samsung Plasma TV already perfectly mounted to the wall! This unit comes with additional storage, bike parking, and all of the furniture could be included as well. (Parking for one car is currently subleased nearby at 18 Lansing St for $225/mo. Although it is highly likely the sublease would be honored, it cannot be guaranteed.)

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What makes 1 Ecker so attractive and in such demand? 1 Ecker (16 Jessie) is an appealing blend of modern and timeless San Francisco charm, and sustainable down to its very foundation. The original century-old building structure was painstakingly restored and updated with brand-new modern interior fixtures and finishes in every bedroom and bath. The soaring arched windows are 100% recycled, and all of the units were restored with sustainability in mind. Nestled among some of San Francisco’s tallest structures, the grand windows and high ceilings fill this residence with generous amounts of natural light, while the original brick structure is a welcome backdrop for modern, sophisticated living.

1 Ecker’s common area amenities include the comfortable rooftop lounge, with grill and plenty of seating for entertaining a large group or enjoying a quiet dinner for two. Sleek, comfortable modular seating allows for adjustment to meet your group’s needs, as art form meets function. Exotic foliage in vibrant hues frames an antique Balinese water fountain, a tranquil centerpiece. The lounge grill is ready to serve up favorites year-round.. The interior courtyard offers a stylish visual backdrop featuring exotic, vibrant foliage. Common areas are maintained by the building’s Home Owners Association, and monthly HOA dues of $500.68 for this unit help serve to keep them in pristine order. HOA dues also include water, garbage, and professional property management services.

The location of this wonderful city home (go ahead…map it) puts you steps away from tons of shops, restaurants, clubs, art museums (MOMA), theaters (Metreon), Outdoor Parks (Yerba Buena), conference centers (Moscone), World Champion baseball stadium (Go Giants!), and so much more. Multiple Zipcar® locations are within walking distance for pay-as-you-go car convenience, and the future Transbay Transit Center steps away at 1st and Mission Streets will house 11 transportation systems, including AC Transit, BART, Caltrain, Muni &; Amtrak, for easy access to all of the Bay Area and beyond.

This is certainly a one-of-a-kind unit in a one-of-a-kind property that you won’t want to miss.

The bullet points:

Kitchen:
Bosch Dishwasher
Bosch Cooktop
Bosch Hood
Samsung French Door Refrigerator
Lazy Susan in cabinetry
Cesarstone countertops and espresso cabinetry
Full Pantry
Under counter lighting
Washer/Dryer – Kenmore High Efficiency

Living Area:
12 ft Ceiling heights
~64 inch Samsung Plasma TV
Custom Paint throughout

Bedroom:
12 ft Ceiling heights
Walk in Closet
Custom closet organizer

Bathroom:
Custom cabinetry under sink
Custom Glass Shower Door upgrade

HOA: $500.68

Parking: Currently Subleased $225/month. Location at 18 Lansing St.

Price: $799,000

Showing times: Sunday 8/11 from 2-4pm; Tuesday 8/13 from 2-3:30pm; Sunday 8/18 from 2-4pm, and by private appointment anytime in between. Sorry, no showings until first Open House. But at least you can see the pictures here and get yourself ready to make this fabulous home your own!

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Exclusively listed by Alexander Clark of Paragon Real Estate.
For more details:
alexclark@gmail.com
415-254-5351

Thinking Of Selling Your Property? Read This First

Sellers, it’s time. We need your inventory, and look how happy you could be!

Alex thanks for selling my home as quickly and painless as possible at a price way beyond my expectation! I especially liked that you provided expert advice/service from staging, lighting and photography to make this a success. Using [electronic signature solutions] for all document signing made my life so much easier, and not to mention saving wasted paper from going into the environment. You keep up with the latest trends, you have access to new and potential audience/followers via social networking sites, and you’re just damn good at what you do so, THANKS!!!!

Cheers,
Judy

Brings a tear to one’s eye, doesn’t it. You’re welcome Judy! Thanks for the great testimonial. Call us when you’re ready to buy.

And to all of you other sellers, did you notice how good to the environment we can be? I’ll even come meet you on my bike. Just give a shout, and we’ll get the ball rolling to getting you top dollar on your property too.

-More Testimonials [theFrontSteps]
-Maximum Overbid Of The Week: 235 28th St, Noe Valley [theFrontSteps]

Maximum Overbid Of The Week: 430 Noriega Gets $725,000 Over

There is a little something I used to do back in 2003 thru 2008 (mostly on what was then sfnewsletter), then the market tanked, and so too did The Maximum Overbid Of the Week. Alas! It has returned. At the request of some long time readers, I present 430 Noriega:
Noriega
A wee little four bedroom home in San Francisco’s Golden Gate Heights that hit the market asking $1,300,000, and promptly sold for $2,025,000, a mere nine days later, and $725,000 extra. Buyer and seller represented by the same agent on this one. Not bad. Not bad at all.

For the record, Curbed beat me to the punch on this scoop, so check out what they had to say too.

[Update: Steven L writes in the comments, "Since you note that Curbed beat you to the punch, couldn’t you also have noted what one of the commenters over there said? “This is a little misleading at best. There were 2 adjacent lots valued at 300K each that were attached to the sale. The total asking price was really $1.9M and a sale price of $125K over that isn’t that big of a stretch.”]

Are you a would be seller? Let’s talk about putting your property on the market, and helping you go out on top.

-Golden Gate Heights Abode Gets $725k Above Asking [Curbed SF]
-The Maximum Overbid Of the Week [theFrontSteps]

Mission Creek Buyer Finally Gets Offer Accepted…Couldn’t Be Happier

Without Alex, I don’t think I would have gotten my home. After several months of looking, multiple offers, and no success, a friend brought up Alex’s name as he specializes in pocket listings. It was apparent the day I met him that he would work hard for me and be more engaged in my search for a home. In a competitive market, Alex made sure that even if my offer wasn’t accepted, there was still an opportunity to get that home. After a year of searching, I purchased a condo that is basically everything I wanted and I am extremely happy.
-Prakash

Thanks Prakash!

And thank you Editors of Curbed for the referral. Always happy to help your readers!

1 Ecker (16 Jessie) Sellers Very Happy With Their Sale…Who’s Next?

It’s been busy…so let’s share some testimonials, get back to blogging, which in turn will create more testimonials. Sound good? Cool…

Alex knows the San Francisco market very well. This helped us, as sellers, to understand what different buyers value and what to expect. He is also adaptable and efficient. Our sale was the first resale in a new condominium, but Alex did not let that slow things down. He successfully navigated the administrative overhead of the situation. In addition, when we sold our home, privacy was of absolute importance. To meet our needs, Alex came up with an agent-first marketing approach that leveraged his pocket listings network (PocketListings.net). He also used social media (Facebook, Twitter, theFrontSteps.com Blog) to get the word out before and after our open house. In under a month from initial contact, even over the seasonally slow Christmas holiday, Alex obtained multiple offers for us. He then helped us identify the most suitable buyer, which ensured us a fair price and a smooth close. We would highly recommend working with Alex for anything real estate in San Francisco.

-Milla and Chad

[Editor's note: Links to websites were added by us.]

Thanks guys! Glad it worked out so smoothly for you, and the buyer. And very happy we were able to navigate all that “administrative overhead”…nice way to put it.

Sellers, let’s get your place on the market! We not only need the inventory, but you stand to make substantial gains.