San Francisco (Bay Area) Case-Shiller Index Shows Staggering Home Price Recovery And Possible Plateau

Case-Shiller Index numbers all reflect home prices as compared to the home price of January 2000, which has been designated with a value of 100. Thus, a reading of 180 signifies home prices 80% above those of January 2000.
caseschiller

The Case-Shiller Index for the San Francisco Metro Area covers the house markets of 5 Bay Area counties, divided into 3 price tiers, each constituting one third of unit sales. Most of the city of San Francisco’s house sales are in the “high price tier.” The Index is published 2 months after the month in question and reflects a 3-month rolling average. September’s Index was just released November 26th.

This chart illustrates the price recovery of the Bay Area high-price-tier home market which really got under way in 2012. In both 2012 and 2013, home prices surged in the spring and then plateaued in the summer-autumn. The surge in prices that occurred in spring of 2013 was particularly dramatic, reflecting a frenzied market of huge buyer demand, historically low interest rates, increasing consumer confidence and extremely low inventory. In San Francisco itself, it was further exacerbated by the high-tech-fueled explosion of new wealth. The market has since calmed down somewhat and that cooling is reflected in the Index readings of the past three months (through September).

936 Clayton Is Officially On The Market, And I’m Officially Claiming “You Had Your Chance”

How many of you remember this photo I shared not too long ago?


Every hand in the room goes up.

How many of you remember the post that went along with it, trying to give YOU first (actually second) dibs on getting this property, and having a say in final finishes and details? Every hand in the room goes up. How many of you actually took it upon yourself to contact me, or refer this opportunity to a friend? ONE hand in the room goes up! Kudos to that one hand. You know who you are.

As for the rest of you, it’s open season and you’ll be left to fend for yourselves, 936 Clayton is officially on the market, and it’s officially awesome.

By all accounts, this is an amazing property and I expect it will sell rather quickly, especially if you look at recent Cole Valley comparables, and how quickly they sold. Time will tell what the market price is for this home, and how quickly it sells.

My point is simply this…I keep trying to get you in the door first, you just gotta get in touch and stay on my radar.

-936 Clayton, 4bed, 3.5bath, $2,850,000 [MLS]
-First Dibs: Cole Valley/Ashbury Heights To The Studs Remodel With Big Views [theFrontSteps]

Who Is Tom Perkins And WTF Does He Have To Do With Us

Our recent scoop on the sale of both Grand Penthomes at the Millennium Tower (one that sold to mega millionaire venture capitalist Tom Perkins) has been getting quite a bit of press lately, and oddly enough we received this email today:

This is all great [referring to the sale of a ~$9,000,000 condo] I suppose, but who is Tom Perkins?

Apparently, theFrontSteps is more responsive and accurate than a quick and easy Google search on “who is Tom Perkins”, so, since you asked, we thought this video would give you some idea about the man, and his (former) yacht:

Don’t get us wrong, we love your emails and especially your tips (keep them coming to thefrontsteps@gmail.com), but sometimes we worry about some of you readers….in a good way, of course.

Both Millennium Tower’s Grand Penthomes Are Sold, Thanks To A Yacht

In news of the top of the world today, we’ve been told both Grand Penthouse Residents on top of Millennium Tower have now been sold (ink is dry, it’s a done deal).

gphagphb

Grand Penthouse A (GPHA), which is on the Northwest corner of the building with a nice big patio, closed escrow recently (somewhere around $10 Million), oddly coinciding with the recent rumored sale of the Maltese Falcon, so if you’re wondering who could potentially be living, or at least claiming their slice of pie in the sky up there, that’s a pretty darn good hint.

Grand Penthouse B (GPHB), which is on the South East corner and also has a large patio (better in our opinion because there is sun and less wind), was sold a bit before A (somewhere around $9 million…Update from reader “rich”: “Tax records show a $8,100,000 for GPHB!! What a steal”), and naturally there is a story here. It was told to us that the ultimate buyer of GPHA was actually in contract on GPHB and waiting for the first buyer of GPHA to fall out of escrow, and for a little teeny weeny yacht to sell, which all apparently happened (some guys have all the luck, eh?) And being swift like a Falcon, the buyer, and his agent (Katy Dinner) swooped in and landed themselves in the $10 million shell on top of the San Francisco Skyline. Furniture, walls, and appliances will cost extra, but for those who need to pump their ego, what better place to lay down a fist on the table and claim your dominance than the top of Millennium Tower.

So there you have it, both Grand Penthomes at the Millennium Tower have been sold (as a reminder, they are empty shells yet to be built out), and there were more than a handful of interested parties.

Life is pretty good at the top, isn’t it? Gotta wonder how that Penthouse at the St. Regis feels about that.

We’ll bring fresh lime margaritas to the house warming, and gladly launch a paper Falcon from the balcony and watch it drift down to the peasants below.

[Update: For a little profile on the buyer of GPHA that we can now share, since the cat is so far out of the bag, check our follow up post by clicking here.]

394 Frederick, Before, After, Here And Gone (In Contract After 7 Days): $2,399,000

True, the market tanked. True, average home prices have come down in San Francisco. True, even A+ areas like Noe Valley and Pacific Heights have felt the pinch. False, it is death doom and destruction everywhere. Case in point, 394 Frederick St @ Belvedere in Cole Valley, is an awesome 4 bed, 4 bath, 3173 square foot home that spent a staggering ;-) 7 days on the market (one Sunday Open House, one Broker Tour) and received an offer with non-contingent financing (means they’re getting a loan, but they’re not worried about that loan approval falling apart), the offer is really close to asking, and it’s damn near a done deal.
394frederick

394frederickdeck

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:
394frederickbeforekit

Kitchen After:
394frederickbeforekit2

Living Room Before:
394frederickbeforelr

Living Room After:
394fredericklr

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]

The Scoop: Seven Arden Estates Have Risen from the Earth

Some time ago, I noted the construction in West Portal and asked around the Front Steps for the scoop. Those folks on the steps always know a lot, and more importantly, they like to argue. We had ideas that the construction would yield five- no, six- no, seven- no,  eight homes. They were to be made of the cheapest- no, the most luxuriant materials. They were to be a blessing to- no, a curse, on San Francisco housing.

 
One thing we all seemed to agree on was that a stand of less than ten single-family homes was not the way to maximize that open space in West Portal. A larger building  project, sized to maximize density, would have been a better call.
 
Still, the call was made; and without much of the NIMBY drama that normally plagues construction, Arden Estates are here.
 
Well, almost. The now live website’s photo gallery so far boasts one photo (seen above). Such dearth is logical since the homes aren’t done yet; however, the location is awesome for families, and the units back up onto a thick mass of trees that completely belie an urban setting. Plus,  their plans look pretty sweet (see below: Click to enlarge).

click to enlarge

click to enlarge

And to the Front Steppers who argued over units, there are to be seven stand alone homes here. Each will have three bed rooms + a bonus room, three baths, high end finishes, attics, 2-car garages, fireplaces…. and geez, more, more, and more. Frankly, I’m getting light headed. You can see the list yourself by visiting the amenities link on the website.  
 
Price is, unsurprisingly, not advertised on the website. However, rumor has it these homes will run in the $2 million range.
 
So that’s me out of the running for one of these beauties, unless you’ve all been fooling me and there really is a Santa. If so, Santa, if you’re reading, I’ve been a very good girl.

From Mid-Century to Modern, 3577 Pacific Returns (Almost)

The last recorded sale of 3577 Pacific (2 bed, 1.5 baths, on the Presidio wall right across from Julias Kahn Playground) was August 31, 2005 for $2,225,000 and she was definitely a mid-century diamond in the rough. Well…she’s back and she’s looking sweet. She did get a bit bigger, and more modern though.

She’s been developed by Mitch Menaged, designed by John Maniscalco Architecture, and Huang Iboshi Architecture and now has six bedrooms, four bathrooms, roof deck, waterfall, chef’s kitchen with Miele Double Ovens, Steam Oven, Espresso Machine, Dacor Microwave Drawer, Gaggenau Ceramic Cooktop, Liebherr Wine Cooler, an 800 bottle temperature controlled display wine cellar, Phase Four Home Automation System, Philippe Starck designed Duravit tub with ceiling water fill, custom cabinets, walnut flooring, Cat 5 wiring, Carrera Marble Fireplace, sculptural stone, iron & glass cantilevered staircase…(deep breath)…and of course a few “green” features like energy efficient radiant in-floor heating, wiring in place for photovoltaic panels, made with fly ash concrete, and a drought tolerant landscape, but we’ll stop there.

Pics, you ask?
You’ll have to settle for the old ones for now, the new ones are coming soon. This home should be on the market within the week, and don’t expect the price to be anywhere near what it sold for in 2005.



There is an invitation only preview on Thursday, so if this is the type of home you’d like to buy, we’d be happy to take you as our guest.

(For those that sometimes ask, the answer is yes. As is the case with most properties we feature on theFrontSteps, we have already been inside this one as well. So agents, keep those invites and tips coming.)

[Update: Price $7,700,000, still no pics.]
[Update: Price already reduced (one week on the market) to $6,950,000, still no pics.]
[Update: Brochure with pictures and floorplans now online.]

-3577 Pacific Avenue (before) [MLS]

Millennium Tower, San Francisco: A walkthrough, a few photos, a little scoop, and my opinion

For those of you that read this San Francisco real estate blog on a regular basis, you’ll know I’ve been watching the progress of many of the new developments around town. One of my favorites happens to be Millennium Tower (301 Mission). Not because I’ve sold many units there, but because it truly stands out (and above) from the others.

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(Yes, that is the Infinity you see way down there, and this shot is only from the 26th floor.)

Don’t get me wrong, I love the other new developments (towers) as well, and I’d love to show any of you around all of the buildings, because they all have their attractions, but Millennium Tower just seems to have that vibe. That…je ne sais quoi…It seems like it will have the same high end/high net worth residents (at least one penthouse in contract at +$10 million and….damn I want to tell you more, but promised not to) as those in the St. Regis, but twice as many amenities at half the dues…not to mention a Michael Minna restaurant. The Infinity feels much more Hard Rock Hotel meets San Francisco (not a bad thing at all), and One Rincon Hill with the dazzling views, just doesn’t have the location (trust me, I’ve had several clients turn away from the location) to put it in the same class as St. Regis and Millennium Tower, not to mention the uncertainty of Tower Two.

img_6373

I must say I am a bit disappointed with the ranges, and islands in the kitchens at the Millennium, and that some units don’t have deeded parking, but those are easy enough to remedy. The building is solid, and the finishes are very high end. The views are extraordinary, the location is getting better, and the amenities are through the roof. The units are still selling very quickly and many owners losing their money in the stock market have bought multiple units here, so all signs still point to a successful development by Millennium Partners, and I can’t wait until they start moving people in.

img_6377

(Penthouse terrace views.)

There are still some very choice units available at the Millennium and several at many other developments around town. I haven’t heard of any negotiations or price incentives at Millennium Tower, but I know some of the other developments around town have been offering them up, and the “off market” trading that is going on at many of them is nothing short of extraordinary.

I have more photos, and a lot more details, but you’ll have to contact me if you’d like to learn more.

Walkabout: Los Altos edition and a $7M price reduction (12335 Stonebrook Dr.)

Since we’re on the subject of million dollar price reductions (some more honorable and accurate than others), we got that Wanderlust in us again and couldn’t help but bring you 12335 Stonebrook Dr. (For more detailed pics go here.)

“This magnificent home is one of the greatest estates in California” (and they just hacked the price $7M from $45M to $38M, so you’re in luck!)

stonebrook

“architectural masterpiece that is said to have played host to presidents and kings, movie stars and celebrities…” (“Said”? What exactly does that mean?)

stonebrook2

“Outdoor Activities” (Canon balls, back flips, swan dives, Marco Polo, Fish out of Water…)

stonebrook3

We could go on and simply repost all of the pictures here, but that’d be silly now wouldn’t it. You must absolutely check this place out. It is not to be missed for all of you real estate porn addicts. And of course, should you have $38,000,000, you know where to find us in order to get the keys. ;-)

-Decker Bullock Website with property details

A long time coming: 235 Broderick hits the MLS, we tried to warn you

Had you been reading theFrontSteps a while ago, June 11th to be exact, you’d have had an opportunity to pick up this developer special at 235 Broderick long before the rest.

235 Broderick

Now the cat is out of the bag, the chatter has begun, it’s on MLS (listed for exactly the same price the seller’s paid in March of 2008, $2M…makes price per square foot a cool $500), and we’re left pondering the future of this (potentially) awesome house.

One thing is for certain, these sellers will likely take a huge hit and that can’t feel good. You know what they say, “One man’s loss, is another man’s gain.”

…and we almost forgot the before shots. Can’t wait to see the after!

-Developer Special not on market in Haight Ashbury [theFrontSteps]

-235 Broderick [listing detail]

-235 Broderick (before) [listing detail]

Our (extended) backyard is getting more affordable, Lake Tahoe luxury real estate takes a dip

It’s not very often that we get excited about a dip in median or average sales price, but when we’re talking our favorite playground and extended backyard, we have to admit we’re a bit giddy.

From a recent article in the Reno Gazette Journal:

“We had an absolute record-breaking year for the high-end market in 2007,” said Susan Lowe, corporate vice-president of Chase International. “Lake Tahoe usually averages two sales over $10 million around the entire lake each year. Last year, there were 11.”

Since January, however, Tahoe has seen a softening in its high-end market, Lowe said.

The decline is reflected in Dickson Realty’s latest quarterly report, which saw the number of houses sold drop by 72 percent in South Lake Tahoe, 71 percent in Incline Village and 46 percent in Zephyr Cove compared with the same period last year.

The same report also found that median prices in the first half of 2008 dropped by 1 percent in South Lake Tahoe to $1.3 million and 40 percent in Zephyr Cove to $1.7 million compared to the same period in 2007.

Incline Village was the exception, reporting a 24 percent increase in median sales price to $3.2 million.

Nancy Fennell, president and chief executive officer of Dickson Realty, attributed the softening to pressure in the lower end of the luxury market.

For the first time, Dickson Realty’s real estate-owned and short-sale division is seeing foreclosures and short sales in the $1 million to $1.5 million market from Tahoe to the Reno-Sparks area.

Truckee was the only area that remained flat for both number of properties sold and median price.

“We’re starting to see the general kind of distress in the economy creep up into the $1 million to $1.5 million range of the luxury market,” Fennell said. “I don’t think it’s going to look quite so dismal by the end of the summer. But I think there are definitely going to be fewer sales in the luxury market in 2008 compared to 2007.”

Skills we possess to earn our keep in your new Tahoe pad:

1) Back-of-hand knowledge of all ski areas in and around Tahoe

2) Ski tech

3) Sun lotion applied in smooth even strokes

4) Valet Parking and bar-tending skillz (in that order)

5) Friends in real estate in and around Lake Tahoe ;-)

-Tahoe homes on tour define luxury [Reno Gazette Journal]

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]

Coming Soon: 2950 Vallejo, it’ll only take you $25,000,000

Nestled into, or perched atop (it’s all perspective), one of the most prestigious hills in San Francisco (we’d almost go so far as to say the world), 2950 Vallejo appears to be coming soon…for $25,000,000.

From our reader:

One of my absolutely favorite houses is hitting the market. You probably already know this, but I haven’t seen it on any of the blogs as of yet… 2960 Vallejo is now on Barbara Callan’s website for 25 million… that’s almost 5000k per foot, which is just astounding.

Hang on now, before you start freaking out about location, and size, and price, and square footage, and all that…the next email moments after:

Oops! I gave you the wrong address.. It’s 2950 Vallejo… and it’s 4000 per foot.. sorry!!

Apology accepted, still astounding (it’s all perspective, you do get seven bedrooms and eight baths after all), and thanks for the tip.

[Update: "It's definitely 2950... 2960 Vallejo is the shingle property next door on the left. It sold in 06 for like 8 million"-from the same reader, whom we love!]

[Update #2: Some interior pictures are now available at Barbara Callan's website.]

Much nicer than expected, to be perfectly honest.

As a reminder, you can send tips, comments, or questions to theFrontSteps@gmail.com.

-2950 Vallejo [Barbara Callan, direct link to property not working, please navigate your way. At this moment the only pictures and details are what we've told you above.]

-2960 Vallejo [Byzantium Brokerage...Yasoo Steve!]

Developer Special (not on market) in Haight Ashbury

We hesitate to provide the address of this property (as always to preserve privacy), but at the same time we feel it our obligation to put out to a larger audience some potential deals that might be right up your alley. Should you, or your friends, be interested in taking this property off the hands of the current owner (around $1.8-2M) feel free to contact us.

facade
(We can see you MapJack O’holics cruising now.)

It’s got some potential for the right person, and “permits and plans for redoing the entire house and expanding the garage to a two car garage. [The owners] have gotten as far as completing a total demolition of the interior space. The house is about 4000 square feet, 6bd/4ba”, it’s located in a great area of the Haight Ashbury district, and we want you to have it.

If you recognize this kitchen, you know the home.

demokit

…and of course that facade will let you know if it’s something you desire. We also tend to think this better for an owner-occupier rather than developer, so if you’re looking to remodel a home, need this kind of space, and don’t plan on flipping, opportunity knocks.

Before, After, Up, Down…Straight Up Confusion on 2542 Fillmore

Hats off to the developer for a job well done and having the cajones to see this project at 2542 Fillmore through. Had you seen the before, you’d realize how great is the after. Oh…we have the before:

…and the after

…and even more. The before price of $2,675,000 (August 2005), the after price of $4,950,000 (two weeks ago) and the new after, after price, $5,250,000? Wait, what’s that? They actually RAISED the price after two weeks on the market? As our reader notes, “[Twelve] Days on the Market and no sale. What does Malin [Giddings, Maximilian Armour] and team do? Raise the price 5% from $4.95 to $5.25. Classic!” So what gives?

We’ve known about this property at 2542 Fillmore for quite some time. We tried to secure a buyer to take it from the current seller prior to this recent remodel, but nobody we knew was up to the task. This is a sweet home, who wants it!?

Defying the odds and defying standards of redevelopment 2542 Fillmore is certainly a property to watch.

[Update: ...and according to a reader, now in contract (6/11/2008).]

-2542 Fillmore before [sfnewsletter listing detail]

-2542 Fillmore after [sfnewsletter listing detail]

188 Minna #33D (St. Regis) in contract (~$3.7M) after one week…are you kidding me!?

[Update: As of 6/13/2008 at 8pm, it is again available. The buyers in contract pulled out, my buyer has had a change of heart feeling SoMa is a bit "dead", so we won't be writing an offer at this time, and now we wait to see what happens.]

I can’t believe what I’m writing. Months ago I tried to tell all of you and some clients about some pocket listings (off market deals) at the St. Regis.

stregisdrive

After playing phone tag a few times and finally getting a commitment from some clients to fly out and see unit 33D a 2 bed, 2.5 bath ~1800 sqft condo at the wonderful St. Regis, asking $3,695,000, I find out today it is in contract! (I find out after practically pleading for them not to ratify and give my clients a look.)

Are you kidding me! Why am I so upset? Because, in every other world class market in the world, when you have some clients that are ready to plunk down close to $4,000,000 it’s not much of a problem to find them a suitable home (forget personal tastes, we’re talking availability). When you live in San Francisco, it’s not so easy.

I’m disappointed, and of course had you been watching my new morphine habit (Twitter) you’d already know this. Silver lining…I know of more pocket listings at the St. Regis, so I’ll live to fight another day.

We tried to tell you, 188 Minna #33D at the St. Regis hits the block

We did try to tell you, and a couple of people responded, with whom we might be writing an offer on this unit at the St. Regis , but for those that missed it, you’re day has come too. Unit 33D at the St. Regis hits the block for $3,725,000 and it is sweet! Glad to see the price has been nailed down, as we’ve been told several prices were in consideration prior to hitting the market (think 3 agents competing for the same listing/off market sale with us.)

33d

If that picture looks familiar, it’s because you’ve been swimming in our Flickr pool and might have been wondering which phat pad that was.

img_5115

It’s 33D and the most recent comparable is 23D, which sold off market for $3.3M, a full 10 floors lower! Of course it was a “dual agency”, and an “off market” deal, so it is always hard to gauge whether those prices make for an accurate indicator of market value. Nonetheless, that’s the best comp and that’s what everyone will be looking at.

-Life at the St. Regis is Pretty Damn Good [theFrontSteps]

-188 Minna #33D [sfnewsletter listing detail]

Trump gets Palm Beach Mansion into contract around $100 million

Today Zillow is reporting the $100M sale of Trump’s Palm Beach Mansion, thanks to the excellent write up in the Palm Beach Post.

trump
[photo credit: Jeffrey Langlois Daily News file photo, on PalmBeachPost.com Business]

Some things we find interesting in all of this:

1) Zillow’s Zestimate of the property is off by about $77M (they admit it), but why didn’t Trump login to Zillow and “Claim the home”, or “Edit home facts”? Maybe he could have put a “make me move” price in, because you know the buyer checked Zillow first. ;-)

2) Trump purchased the property for $41.35M in 2004 in a Bankruptcy sale, according to the report. On the Trump Interview (CNBC) he says, “I bought it for 40″. When you got that kind of cash, what’s the extra $1.35M? Only us “media” type really care.

3) It is a “foreign” buyer, and said buyer is considering tearing it down (good, it’s ugly as hell!)

4) Kendra Todd (Apprentice fame) helped on the remodel, but didn’t get the listing (hmmmm……)

5) It’s not sold…it’s in contract. Big difference.

Regardless, Trump is still the man, and his daughter is super sexy hot. You go Trump!

[Update: Sold to a Russian billionaire for $81.5M. From the most recent article: "The oceanfront estate built by billionaire businessman and philanthropist Sidney Kimmel recently changed hands for $81.5 million. While the sale price was officially recorded at $77.5 million, the buyer also paid $4 million in closing costs."]

…and back to San Francisco.

-$100M sale of Trump’s Palm Beach Mansion [Zillow Blog]

-PalmBeachPost.com Business [Palm Beach Post]

-Trump Interview [CNBC.com]

Life at the St. Regis is pretty damn good *

You know that when I talk “life”, I talk real estate, because real estate is my life, and therefore life (real estate and living) at the St. Regis is pretty damn good. However, there are a few exceptions…the “B” units and one “F” are getting a bit stale!

stregisdrive

I was fortunate enough to sell Unit 38 B for my clients 5 days after I put it on the market (full disclosure, another agent had it on the market for 8 months prior…started at $2.8M, we listed at $2.395, sales price *). But the other units that were also on the market at the same time (March 2008 ) are still there. What gives? It’s pretty damn simple, pricing. Those sellers need to get a bit more realistic about their prices, and their agents need to counsel them to get there (they probably already are). I know what price is going to get you 25 F, and kudos to the Realtor for getting their client closer to reality, but 22, 34, and 37 B…time to start chopping.

Just like at One Rincon Hill, I also know of a few properties at the St. Regis that would be available off market, so if the St. Regis is your thing, feel free to drop me a line. If any of the new developments are your thing for that matter, there are more units “available” than you might think.

A Done Deal at 3647 Washington ($910,000 over asking)

We’ve been through the over/under debate countless times, but when the big ones hit we have no choice other than high-light them, and 3647 Washington is no exception.

3647wa

According to MLS, this five bedroom, four and one half bath single family home in Presidio Heights hit the market March 26th at $3,595,000, spent a staggering 12 days (or less) actually “on” the market, and just closed escrow for $4,505,000…or 25% ($910,000) above asking.

We again say, look past the over/under debate on whether it paints a picture of the market and think more about the desire of one person to have that property so much more than the others. Also think about the ones that lost.

From Blank Canvas to Decorator Showcase, 2820 Scott gets the nod in 2008

“Since 1977, the annual San Francisco Decorator Showcase has benefited San Francisco University High School’s financial aid program, raising nearly $10 million in its first 30 years. The San Francisco Decorator Showcase is widely considered to be one of the premiere showcase events in the country, featuring the work of the region’s top interior and landscape designers,” and this year they take you inside 2820 Scott, a magnificent eight bedroom, eight and one half bath, 14,000 square foot residence that last changed hands in 2006 (asking $8,500,000), and was (at the time) void of any furniture. Not any more.

You and yours can go check it out April 26-May 26, cost is $30, (Seniors $25).

We have one ticket for Monday May 5th (6-8pm), we cannot use. Who wants it?

-2820 Scott [sfnewsletter listing detail]

-Decorator Showcase [website]