2. Document any 1964 Datsuns with a blown motor trapped in the garage for 40+ years:

3. Rip up disgusting kitchens and baths:

–

4. Go to Haight Street, buy a magic wand, tap it three times, and poof! Datsun gone and property remodeled!

–

–

[Notice the marketing remarks? "Two enormous storage areas which can easily accommodate surf boards..." So hip! Don't forget spell check. ]

5. Slap a new price tag on it…orginally $1,200,000, and now only $1,158,000, throw it on the market as a single family home, or maybe a two unit building, or even two separate TICs, give it a personalized property website, cross your fingers, and hope you can soon see some return on your investment (of time, money, sweat, and sleepless nights.)

It’s that simple…

-43-43 1/2 Downey, $1,158,000, Cole Valley [Single Family Home, Two Unit Building, Tenancies In Common]

Editor-

Take a look at this Cole Valley condo. Purchased in April 2005 for $800,000, relisted [11 days ago] for $749,000. No upgrades, no permit history, save for a new roof.

I would prefer to remain anonymous.

Thanks.

Anonymous you shall remain, thankful we shall be to all of the readers, including you, that send in tips.

We’d like to add, when it sold in 2005 for $800,000 it was listed at $749,000. Will history repeat itself? We can only hope.

-1358 Cole Street $800,000 Then

-1358 Cole Street, $749,000 Now

The monthly sales data for Subdistrict 5E (Cole Valley/Parnassus/Ashbury Heights) is so low that running percentage declines off of median values, as I did for Noe Valley, would have been worthless. As several of your readers and I myself pointed out, it’s hard to draw conclusions when there are very few data points.

Instead I ran the percentage declines off the “95th Percentile” value, which the statisticians among your readers will know means that 95% of the sales fall below that value. Hence, it represents a “high”, while excluding the potentially aberrational top 5% of values.

After looking at this chart, I sort of threw up my hands. With only 179 sales in over 6 years, it’s not sensible in my view to draw conclusions about monthly trends in Cole Valley, let alone to compare them to Noe Valley, where the “core” area alone — Subdistrict 5C (Noe Valley) — had over 900 sales during the same period.

So I re-ran the numbers and calculated medians based on annual sales. The second chart shows the results. I think this is much easier to understand. Again, with so few sales, one should be careful about drawing any conclusions, and with only 5 sales in 2009 so far, I think it’s too early to conclude that the apparent drop in median prices for 2009 will continue to be accurate. Rather, I’d say that Cole Valley seems to have been holding up pretty well.

And we’d have to agree and argue this is yet another reason why Cole Valley is superior to Noe Valley…

–

Thanks again to Misha Weidman for the charts and analysis. Good to have a data geek on staff.

Call us crazy, but we’ve seen a lot of activity in the market as of late, at all price points.

For those wondering, last sale was in 2005 for $1,755,000 (asking was $1,395,000) but has since undergone a significant remodel, and added roughly 1209 square feet.

Kitchen Before:

Kitchen After:

Living Room Before:

Living Room After:

We’ve long stood by Cole Valley as a better investment than Noe Valley. Is the writing appearing on the wall? Time will tell. Maybe real estate doens’t suck after all.

-394 Frederick [MLS]

Apparently it’s not all bad in Noe (according to the San Francisco Chronicle), but can Cole Valley step up to the plate? We think so.

Enjoy!

-Noe Valley/Cole Valley Homes Sold Past 12 Months over $2 million

Cole Valley:

Noe Valley:

Please share in the comments below and take us away to a great weekend:

Cole Valley, or Noe Valley. If you had to choose, and why?

-Noe Valley on Tour de San Francisco (real estate) [sfnewsletter]
-Cole Valley on Tour de San Francisco (real estate) [sfnewsletter]

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]

What strikes me is the thought of that photo in a previous post which showed the city flattened (maybe someone can put up the link?). When selling a home today, we always say, “it survived the 1989 Loma Prieta quake”, but it’s scary to think of something stronger and all these homes around me gone.

That’s my morbid thought of the day. Cocktails!

Posted from iPhone

Hi guys,

Have you seen this listing?

www.1445cole.com

I live a block away, and got a little invitation in my mailbox for a “private viewing” complete with wine and snacks, [five days ago]. I couldn’t go, so I haven’t seen the property, but I thought this was definitely a new tactic–esp. in this neighborhood. Thought you might be interested.

We’re always interested in what you (the readers) have to say, so keep sending those tips.

We do however, have some questions regarding the property website:

1) What’s up with the dog?

2) Can a Gustav Stickley quote help sell a home?

3) Where’s the agent contact info on the site (please, please, please correct us if we’ve overlooked it)?

That’s all for now…okay, one more…how about some bigger photos? Might we suggest using OpenHomesPhotography the next time around?

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".]

Ahhh shucks…I can’t resist:

Dear Alex,

I took your advice from your recent tour and checked out Cole Valley and went up to Tank Hill and took this photo for you, because I noticed in the pictures on your tour this property in the distance. I hope you like it.

BTW, I LOVE all the information you provide with SF newsletter, Front Steps (.com and .org) and especially the tour. The tour is WAY more fun to do after reading you talk about it, and way more fun to get in the car than using Google or Mapjack. I highly recommend buyers get out and drive their prospective neighborhoods like you suggest. Keep up the good work!

“JJ”

If you keep sending emails like that, with referral included like you did (and photos nonetheless), how can I not “keep up the good work” by publishing your photo?

For the record and all to remember, this site is nothing without you, or the “the” in theFrontSteps.

Thanks!

p.s. Please send the updated photo when all that copper turns green.

Can I ask your professional opinion on Cole Valley in general?

I am concerned about the SF market even though it hasn’t been that bad. Not sure if another shoe will be dropping. I am not interested in selling, but am looking to buy out the other 50% share of a house in Cole Valley from a family member.

Since we already own half, it seems like we would be ahead of the game. I just wanted to ask you as a real estate professional. I noticed that an old bungalow house in the 1500 block of Shrader with 2 bedrooms went for 1.2 million. I think I must be missing something on this because that is out of this world.

I’m not quite sure exactly which bungalow house you are referring to, but here are two comps in the 1500 block that might fit the bill. Like I said in the email to you privately, it’s hard to give accurate assessments and professional opinions without seeing the property, but generally speaking Cole Valley is a very solid investment and someplace I wouldn’t be too concerned about a catastrophic decline in that area.

I’m hoping the readers can shed some more light on the matter for you. Anyone?

Thanks for reading and thanks for your email.

-Cole Valley [Tour de San Francisco (real estate)]

-San Francisco Real Estate watch: SF Chronicle’s recipe for fear [theFrontSteps]

-Tour de San Francisco (real estate) [sfnewsletter]

“Sorry for the SPAM, but I am working with a GREAT couple who is looking for a home, and wanted to see if you knew of a property that is not yet on the market but may be coming soon.

They are ALL CASH buyers, can close very quickly, and would consider a rent back situation. They are currently renting, so they are very flexible!!

Their needs:

* Condo or Single Family Home

* Pac Heights, Presidio Heights, Cow Hollow, Marina (not on liquefaction), Noe Valley, Eureka Valley, Cole Valley

* 2+ bedrooms(Min sq ft: 1550), 1.5+ bathrooms

* 1st floor (access to garden a plus)

* Formal Dining Room, Living room large enough to entertain

* 1 Car Deeded Parking

* Smaller building is preferred

Please feel free to call me directly at [ahhhh...not on our turf!] if you know of anything coming up. Given my client’s flexibility, and cash situation, it could be a

great opportunity for a client who needs to sell first before buying elsewhere.

Thanks for your help, and again, sorry for the SPAM, but given the lack of inventory and the current mortgage crisis, I figured it’d be appropriate to reach out to my fellow realtors and see if we can help each other out.” [these bolds are ours, the rest hers.]

Anybody else have buyers looking for exactly the same thing? A hunch tells me yes, and “all cash” at $400,000 or $4,000,000 are two entirely different things. Next time you choose to spam, include the price range.

It looks like 1223 or was it 1233 Shrader sold. It was across from Grattan [Elementary School] and though it was nice, I was shocked by the price. Do you know what it went for?

Thanks for your question. The address was indeed 1233 (here are details), and according to MLS, the property went into and out of contract at the new price of $2,560,000, but now shows as “withdrawn”. We saw the cleanup crews there and assumed the property did in fact sell, but apparently not. PropertyShark.com also shows no record of a sale.