Archive for the ‘Potrero Hill’ Category
Wednesday, October 29th, 2008
Realtor Kevin Gueco writes a very sunny review for the coming soon Mosiaica 601 condo project (pictured above) in his SFNewDevelopments blog. There’s definitely some room for pleasant surprise in the announced price (pleasant to me, anyway, since I selfishly find all condos I cannot afford to be unpleasant):
“Mosaica 601 announced last week that it plans to start pricing of its 3 bedroom / 2 bath condos in the low $600s! This is an incredible value considering each home is around 1400 square feet.”
Of course, putting aside Gueco’s near-by restaurant list, the area (where Mission meets Potrero) is a little rough, but the price still seems all right to me. Perhaps the developers see the price cuts so many other condo developers have had to make recently, and are starting lower to begin with?
Also coming soon (but not as soon) are a more mysterious set of housing units. Just off West Portal and 16th Ave., in front of Arden Wood, you can see the pushed-up dirt, huge bulldozers, and thin wood skeletons that signal housing to come, and their sectioning looks multi-unit. Thus I suspect these are the long awaited condos that were subject of news and speculation in 2006. In fact, that’s still the only information I can find on this construction: 2 years old, via SFHomeBlog and J.K. Dineen. Someone has to have a more updated scoop here. Anyone?
Meanwhile, still a pipe-dream (ha ha! Really, Haight Street, how many pipe stores can one street support?), but with the supervisorial green light is the Whole Foods/condo complex, slated to replace long-dead Cala Foods at the corner of Stanyan and Haight. The Chronicle outlines the plan here:
”The large, four-story project, which also includes some 60 high-end, market-rate housing units, was expected to be controversial, but the commission voted 6-0 to approve the conditional use permit – a result supporters think had a lot to do with their organized turnout.”
Right, agreed: Haight could use a face-lift and perhaps a gentle reminder that THE 60′S ARE OVER. Also, I like Whole Foods, but I’m saving for one of those condos, so I’ll stick to Trader Joe’s (with a new one also coming soon!). I’m curious what “market rate” will be when those units go up, since so many new developments are struggling to sell out units already. The Frontstep’s own banker/blogger, aptly known as “The Banker,” says: “We are overbuilt. . .and it is next to near impossible to get financing!”
What do you say?
—-
Construction photo via SFNewDevelopments
Tags: Arden Wood, Condominium, condos, Haight Ashbury, Mosaica 601, New Construction, Reduced Prices
Posted in Below Market Rate, Condominium, Economy, General Info, Haight Ashbury, Insider Information, Marketing, New Construction, New Developments, Potrero Hill, SOMA, Updates, West Portal, coming soon | 14 Comments »
Monday, October 27th, 2008
I’ve heard from multiple sources that SF real estate is, for the most part, immune to the havoc wreaked on other parts of the US. But sales at our most recent condo complexes show that happy-smile-don’t-worry line of rhetoric is about as reliable as the clown’s was in Poltergeist (Happy Halloween!).
| T-907 Penthouse studio w/built in Murphy bed & views |
$515,000 |
$419,000 |
| T-602 1-br, Quiet courtyard location |
$565,000 |
$449,000 |
You have to wonder if those buyers among the 55% sold group are perhaps a wee bit upset. You might also wonder if you can’t, given the hint of desperation (“close out”= we really, really want to sell these goddamn condos!), get one of these units for even less than the advertised price.
More good news for people who love bad news is that,
according to the San Francisco Business Times, construction has been suspended at 535 Mission St: “The $100 million HOK-designed tower was put on hold earlier this month in response to worsening market conditions.”
Well then. Seems like if one wants to buy right now, one should take these worsening conditions to the negotiating table. Don’t invite the clown.
—————–
Tags: Arterra, Market News, New Construction, Reduced Prices, San Francisco Real Estate, The Hayes, The Potrero
Posted in Arterra, Civic Center/Van Ness, Doom & Gloom, Hayes Valley, High Rise, New Construction, New Developments, Potrero Hill, Reduced, SOMA, San Francisco Real Estate, Symphony Towers, The Potrero, Updates, Van Ness/Civic Center, market info, real estate, san francisco, theFrontSteps | 5 Comments »
Tuesday, August 12th, 2008
I feel like this is a bit of a litmus test.
I was on another blog and a poster actually used this map to back up a point made about neighborhoods north of California st. showing signs of weakness. I was like, huh? This map? Aren’t all the areas north of California YELLOW? (Yellow shows appreciation.)
It isn’t the greatest map/chart/whatever ever. It shows Noe Valley like half green and half yellow. I think most of us are pretty sure Noe hasn’t slid. It shows the north part of Potrero Hill as green. It shows all of SOMA as a chunk of green and I think we can all agree SOMA varies wildly. And the Inner Richmond has fallen? That would be a surprise to everyone working at any brokerage in town, in any capacity.
So, not the best. It needs more variegation certainly. But it sort of just goes to show where we are right now. We who are the buyers, sellers, agents, brokers, fence sitters, you name it. We who post on blogs about real estate. We’ve all come to think that the glass is not full. What does this chart tell you about the the status of said glass?
You’ll notice I didn’t get into who they quote, what they actually say in the article versus what’s happening here in the city, etc. You can get into that if you want. But what do you see in that graphic? I’m curious.
– fluj a k a kenneth kohlmyer
Tags: Potrero Hill, real estate, San Francisco Real Estate
Posted in Potrero Hill, San Francisco Real Estate, real estate | 10 Comments »
Monday, July 21st, 2008
I knew this one would go superfast. You have to wonder if it wouldn’t have gone almost as fast if it were priced at 850K, tho. Anyway, anyone else see this property? It got into contract instantly.
A two car garage, north slope Potrero Hill, with a 25 X 100 foot lot, for 679? Simply fax your offer to the 678 area code? Well somebody didn’t mess around. Still tho — this is some 2006 type stuff right here!
-Property Details, 251 Arkansas [sfnewsletter listing detail page]
– Kenneth Kohlmyer a k a der fluj
Tags: Potrero Hill, real estate, san francisco
Posted in Potrero Hill, market info, real estate, san francisco, the fluj | 3 Comments »
Wednesday, July 9th, 2008
According to more Realtor Spam (it’s really getting out of control, but some of it is useful):
Just a reminder, we are about 85% sold at our new building at 888 7th Street in the Showplace Square/lower Potrero area. We have a limited number of junior one bedrooms homes available starting at $399,000. We have a limited number of one bedroom homes available starting at $499,000. These are great prices and great deals for first time home buyers.
-Website
-More on 888 7th Street [theFrontSteps]
Tags: Potrero Hill, real estate, san francisco, San Francisco Real Estate, theFrontSteps
Posted in 888 Seventh Street, Below Market Rate, Condominium, Mission Bay, New Developments, Potrero Hill, San Francisco Real Estate, market info, real estate, san francisco, theFrontSteps | 3 Comments »
Monday, June 23rd, 2008
As stated numerous times, we can’t do all of this without you, and appreciate your tips, suggestions, and rants, so keep them coming. One person who is particularly helpful and deserving of praise is our friend the Fluj, who this week sends us this:
To my mind, the western portion of North Slope Potrero has not seen anything like this. It’s very far out in front of the curve, but I don’t know that they’re trippin’ either!
Perhaps the marketing remarks can shed some light as to whether they’re “trippin!”:
This spectacular remodeled view home has 3 levels of living w/3 bd, 2 ba all on upper level (toto dual flush toilets). The main level has an open floor plan-great for entertaining. It consists of lr (w/frplc), dr, kit w/GE monogram 42′ fridge, Thermador oven & micro, Viking 6 burner cook top, Bosch dw, great rm overlooking rear gar & powder rm. Lower level has office & media rm wired for surround sound. Systems, roofs, windows, flooring, walls were all replaced in 2008. 2 decks, garden & garage.
“Toto toilet”, is not to be confused with this Toto (even though the cross street is @ Kansas), rather is more like this Toto.
On that note, if you close your eyes and tap your heels long enough, red glass slipper optional (this is San Francisco after all), you too can someday have a $2,145,000 home in Potrero Hill. Tap them longer and maybe that price will come down a tad.
-2145 18th Street [MLS]
Tags: Architecture, Potrero Hill, real estate, san francisco, San Francisco Real Estate, theFrontSteps
Posted in Architecture, Marketing, Neighborhoods, Potrero Hill, Remodeling, San Francisco Real Estate, Single Family, real estate, san francisco, the fluj, theFrontSteps | 6 Comments »
Friday, May 23rd, 2008
Lots of people yapping on and on about how San Francisco listing inventory is through the roof, sales volume is in the toilet, and both median and average home prices have plummeted, but the Fluj says:
Seemingly the perception is that there is a lot of inventory, but is there, really? And as for prices, come on now!
Discuss, debate, have fun.
…and kicking it off, we’ll go ahead and show you Fluj’s first comment in the thread to get you going:
Right, so, “Inventory.”
Seemingly the conventional wisdom is that there is a lot of it. Why the disparity between what buyers in the field are actually excperiencing and the media/blogs then?
I did a search for available properties. I used a metric that I believe to be extremely common for San Franciscans. This is a search for a couple or a small family who hope to buy something with room to grow into.
The parameters are: 750K to $1.205M, 3 brs, 2 bas, 1 car parking. I limited the search zones to only generally safe(r) areas. Essentially I included everthing except Ingleside, Ingleside Heights, and Oceanview, all of 9 save Bernal and Potrero Hill, and all of 10.
I turned up 82 properties.
1. Of the 8 Richmond properties, only one was east of Funston, and it is a cosmetic fixer on 7th Ave for 899K. (On the market for 7 days, offers Tuesday, you best to hurry if interested IMO)
2. Twenty-seven are in the central or outer Sunset.
3. For areas 3, the Arch st. listing appears to be a nice little Merced Heights home for 559 a foot. Many searchers will not entertain areas 3.
4. For areas 4, if they are not on a very busy street or a fixer, only Forest Knoll, and Miraloma Park areas 4-D and 4-H have properties for 550-600 a foot. Like 3, many buyers will not entertain areas 4 as it is not particularly central.
5. Surprisingly, for areas 5, there are only two Glen Park listings. In Noe, there is only 4120 22nd, a permitted fixer in need of at least 600K in capital. In Ashbury Terrace, only one cosmetic fixer I know to have received two offers already. And there is one large fixer property up on Grand View — and it doesn’t have any views.
6. There was nothing in 6. This was surprising.
7-8. Nothing here. Not surprising.
9. Eleven are in Bernal Heights and will not appear in the search perameters of many groups. Two in Potrero Hill. The Wisconsin listing is a total fixer on a corner with very little southern exposure and an entrenched tenant. The Rhode Island property at $1.195M and 663 a foot appears to be a decent deal for North Slope.
So is that a lot of inventory? I really don’t think it is.
Tags: Bernal Heights, Potrero Hill, real estate, san francisco, San Francisco Real Estate, Sunset
Posted in Bernal Heights, Doom & Gloom, Potrero Hill, San Francisco Real Estate, Sunset, market info, real estate, san francisco, the fluj | 12 Comments »
Tuesday, May 13th, 2008
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".]
Tags: Bernal Heights, Cole Valley, Parkside, Potrero Hill, real estate, san francisco, San Francisco Real Estate, Sunset, theFrontSteps
Posted in Bernal Heights, Cole Valley, Doom & Gloom, Neighborhoods, Parkside, Potrero Hill, San Francisco Real Estate, Stalefish ™, Still There, Sunset, market info, real estate, san francisco, theFrontSteps | 14 Comments »
Wednesday, April 16th, 2008
James over on our social network wants to know. Who has the answer?
Tags: Potrero Hill, real estate, san francisco, theFrontSteps
Posted in Ask Us, Potrero Hill, market info, real estate, san francisco, theFrontSteps | No Comments »
Tuesday, April 1st, 2008
Yes, the asterisk is there, but so too is the sale somewhere around $3M for 752 Carolina, a single family home in Potrero Hill that hit the market end of February, was in contract 8 days later and just closed escrow…cash.
Was it the suburban feel:
or the blue paint that did it?
We have to think a combination of all sorts of good San Francisco things.
-752 Carolina [listing detail page]
Tags: Potrero Hill, san francisco
Posted in Alexander Clark, Done Deals, It is Brisk Out, Potrero Hill, Single Family, market info, san francisco | No Comments »
Tuesday, January 8th, 2008
Pacific Heights:
Average cost of a single family house: 1997: $1,706,000 2007: $5,022,000
Potrero Hill:
Average cost of a multi unit building: 1997: $412,000 2007: $1,385,000
Schtuff like that.
Tags: Potrero Hill, theFrontSteps
Posted in Potrero Hill, market info, theFrontSteps | 13 Comments »
Thursday, November 8th, 2007
Seems as we’re on the receiving end of just about every promo out there, and some are just too good to pass up. “It’s simple – write and close the most contracts at The Potrero between November 9th and December 31st 2007 and you could be on your way to Paris.” (You meaning us, the agents.)
Since we’re not big fans of stinky Paris subways, smoking fags (those are cigarettes to the un-trained Euro traveler), and all the sexy French women, we’ll just write the contracts for you, get you in a sweet pad at The Potrero, and should we win, we’ll pick one of you to send on your way to Paris. How about that? So not only would you get the insane buyer incentives, (last check it was two years paid HOA, W&D, and Fridge) , but a trip to gay Paris as well. (Gay Paris pronounced Gay Pear E)
You know where to find us to get you in the door.
Fine print: It’s just tickets, no hotel or anything else…but at least they’re business class, and we’ll throw in a Frenglish dictionary for you.
p.s. We’re totally joking about not liking Paris…we love it there.
-The Potrero South Building Now Selling [theFrontSteps]
-More Incentives at the Potrero [theFrontSteps]
Tags: Announcements, Potrero Hill, theFrontSteps
Posted in Announcements, New Developments, Potrero Hill, Still There, The Potrero, market info, theFrontSteps | No Comments »
Thursday, October 18th, 2007
“Did you see the 250 Texas listing? It’s a nice North Slope pad in Potrero Hill. Worth checking out for the views and the margaritas.”
We did not, but you did, so perhaps you could share more details. Should we bring extra salt, and thanks for the tip!?
-Oh Kronos, you went so fast [theFrontSteps]
Tags: Potrero Hill, theFrontSteps
Posted in Potrero Hill, Single Family, theFrontSteps | 1 Comment »
Thursday, July 19th, 2007
This from Damion Matthews
“The SF Chronicle reports that 610 Rhode Island sold for over $2.5 million!”
“Sotheby’s Realty agent Gregg Lynn listed 610 Rhode Island St. in San Francisco’s Potrero Hill area on June 22 for $2.3 million. After receiving more than a half-dozen offers, the property sold this week for more than 10 percent over the asking price.
The house, which has been featured in architectural publications, is a unique property designed by a couple of professional musicians who outfitted it with a 24-foot-high living room ceiling and good acoustics. That said, the kitchen and bathrooms date to 1989, when the home was built.
“People who can afford to live anywhere they want to live … want to move to San Francisco and live at that level,” Lynn said. “There’s no end to what they’ll do to get it.” “
MLS is still showing pending.
-As sales skid home prices remain strong [SF Gate/Chronicle]
-610 Rhode Island…my take [theFrontSteps]
-610 Rhode Island [website]
Tags: Potrero Hill, san francisco, theFrontSteps
Posted in It is Brisk Out, Modern, Potrero Hill, Unique Property, market info, san francisco, theFrontSteps | 2 Comments »
Monday, July 16th, 2007
In another test of our growing amount of knowledge via new members to our Stammtisch, a reader asks our opinion. Hopefully, he/she’ll get an answer.
“Hi there,
What do you think of the Potrero development? Do you think housing prices in this area will appreciate, since it is considered up and coming?
Cheers,
A.S.”
Please feel free to help this reader form an opinion on the development and area, and look for some expert opinions from some of our Stammgäste, by checking and contributing to the comments.
-The Potrero, South Building now selling [theFrontSteps]
-The Potrero [website]
Tags: Potrero Hill, theFrontSteps
Posted in Ask Us, Contributors, New Developments, Potrero Hill, The Potrero, market info, theFrontSteps | 8 Comments »
