Category Archives: Still There

Tenth Avenue Opulence For $277,000 Less. Who Wants To Has It?


[Editor’s Note: It is recommended you watch the video first.]

There is a lot to love about this listing at 261 10th Ave, especially “savings the money”, but I’m not quite sure what’s to love more:

Is it the insanely awesome gold coverlet accented by leopard print throw pillows and zebra print chair?

Is it the built in ballet studio that screams tutus and Baryshnikov? However, the ceiling looks a little low to soar like a Swan…

Is it the animal paintings in the foyer that look to be horses, or maybe at least one Giraffe?

Or could it simply be the recent price reduction to start off the new year? A price reduction from an original asking of $1,675,000 to the New Year’s price of $1,398,000…more than a QUARTER MILLION DOLLARS.

It’s at a juncture like this when (proper) staging comes in handy, as does realistic pricing and shelving any visions of grandeur and opulence. Personal tastes aside, this is a great house, in an excellent location.

Who wants to has it?

-261 10th Ave, 4 bed, 3.5 bath, $1,398,000 (MLS)
-Find me on the Facingbook

You Changed Your DOM But Were Never BOM, 4148 23rd St Returns

You know that feeling you get when you meet someone and you just know you’ve seen them before, but you just can’t figure out where? Well, fortunately for us folks in the biz of real estate, we have this little feature called “property history” that is becoming all too necessary to check religiously. As it turns out, we have seen 4148 23rd St (4 bed, 2.5 bath, Renovated Noe Valley Edwardian) before.

414823rdfront

We saw her first in 1998 when she sold for $435,000. Then we saw her again (with a face-lift) in April of 2008 for $1,799,000 when she was on the market for 140 days and pulled off the market in August. She resurfaced (very briefly) in December of 2008 with the same look, only different price ($1,599,000 or 11% less than before) and a fresh new DOM (days on market) of zero. Come to think of it, we never did see her BOM (back on market).

414823rdbath

Now we see her again in January 2009 with the same price, but new DOM, and still no BOM. This can only mean she never did find a suitor. So why the new DOM? It’s a trick we agents play, and the public is on to us.

We knew we saw her before, and it almost slipped passed us. Now we’re left to wonder what she’ll look like when we see her again…SOLD, BOM, or with yet another new DOM?

-4148 23rd St, $1,599,000 [listing detail page by sfnewsletter]
-Resetting DOM, Buyers Speak Up, ABC News Nightline Is Listening [theFrontSteps]

Dropping BOMs

Back in the day (two to three years ago) if you dropped a BOM on your listing, it didn’t really matter as there were usually a handful more buyers ready to pounce. These days…not as many, and by all accounts we’re definitely seeing an increase is BOMs across all price points and property types. Today is no exception.

With the return of 1141 Vallejo, a three bed, two bath, Russian Hill residence, we’re left wondering…who’s next, and will another buyer be ready to pounce?

What is a BOM? B.O.M. stands for Back On Market…a listing that was in contract, and for any number of reasons, is again available.

St. Regis, 188 Minna #33D, Back on Market!

So you heard me complain, and cry, and moan that my clients missed out on unit 33D at the St. Regis. Well, now it’s back on the market, still $3,695,000, still spectacular, and still available. The buyer, which just so happened to be represented by the seller’s agent as well, has walked (the wife claiming the space just didn’t work).

My clients have determined that they aren’t quite sure South of Market is happening enough to purchase at the St. Regis, claiming it to be a bit “dead”, and now 33D awaits the next person looking for an A+ unit with spectacular views, floor to ceiling windows, an outdoor terrace, and a great floorplan. Comps will quickly point to unit 23D selling at $3.3M, but I’d like to point out that was an off-market deal and the buyer and seller were represented by the same agent (think not necessarily market price). So now that the dust has settled, 27D (at $3,475,000) and 33D (at $3,695,000) are both available, things could get interesting.

There is still one other unit “available”, but not yet on the market in the “F” stack, should you be interested.

-188 Minna #33D [Pacific Union Listing, $3,695,000]

-188 Minna #27D [listing detail $3,475,000]

Isolated Panic amongst some San Francisco Realtors, or something larger?

Recently, we’ve been contacted by more than a dozen Realtors asking if we could “plug” their listings. Typically, this is not something we do as it defeats the purpose, honesty, and transparency of this blog, but we got to thinking…why not? We could make a little $$ from it, and help get the word out about some pretty cool properties that happen to still be available. Truth be told, a lot of “tips” from “tipsters” are essentially “plugs” anyway. Right?

Well, don’t worry, we’re not going to start whoring ourselves out…yet. But what has us thinking is the increase in requests to do so for properties that have only been on the market 2-6 weeks. In any other part of the country having a listing for 4 months is normal, and panic usually sets in around the 6th month that it is not sold, so why such alarm after 2-6 weeks? San Francisco Realtors are so accustomed to homes flying off the shelf, and when they don’t…they PANIC! Remember, a listing isn’t a “Stalefish” until 100 days have passed, so why all the panic?

We still say it all comes down to pricing, pricing, pricing, and location, location, location, and there is no need for panic across the board. We’re still hearing many more reports of multiple offers and properties flying off the shelf than we are of properties sitting, but is the national trend finally starting to hit San Francisco on a broader level, not just the southern districts? We’ve heard reports of homes in the Inner Richmond, Cole Valley, Westwood Park, Bernal Heights, Inner Sunset, Noe Valley (Gasp!), Parkside, Potrero Hill, and a few other nabes getting a bit stale. Properties that previously would have sold in the blink of an eye. So what gives?

We want your thoughts, especially you Realtors. Go ahead and comment anonymously, we won’t tell. And we certainly hope to hear from the Fluj, who, in case you missed it, we caught.

[If you’d like to check out what we’ve written about other neighborhoods in San Francisco, look to the right hand column and “Browse Site by Category”.]