Tag Archives: Stalefish ™

30plus

The 30+ Club

From 333 Grant #707 to 4348 21st St, an $11,000,000 Penthouse at the Four Seasons to a 1 bedroom condo on the 46th Floor of that big ol’ tower by the Bay Bridge, there is a little category out there that is often overlooked and it’s high time it gets the attention it deserves: Properties on the market more than 30 days a.k.a the 30+ Club.

As much as I like to highlight Overbids and Underbids, properties that make the jaw drop, multi-million dollar sales, and my own triumphs, this category should actually get more attention, because if you have a property to sell in San Francisco and it hasn’t sold or gone in contract within 30 days, you’re doing something wrong, and if you’re a buyer continually getting beat out by the other guy, there is opportunity right here under your nose.

So get on the list, and if you’re an agent, send this list to your clients, and let’s help put some of these Stalefish out of their misery.

*This data is deemed reliable, but not guaranteed accurate by the MLS or myself, although it’s pretty damn close to 100%.

-30+ Club: list of properties on the market 30 Days Or More

Ignorance Is Bliss When Buying At The Ritz

Live below the big red curvy arrow!We know there are many of you out there sad at the fact you may have missed out on Ritz-Carlton Residence #2203 when it came on the market at $2,600,000 over two Stalecades ago. You may have been sad then when you missed out on the price reduction after price reduction down to the most recent list price of $1,998,000. We know, we know…more than $1300 per square foot to live in the same building as a YouTube founder, or Crocs founder just sounds so cheap and you missed your opportunity. The two bedroom (we’re calling it one bedroom with a sliding wall to make two), two and one half bath luxury residence in the sky is something to behold, but it’s gone. Off the market.

Psyche! It’s coming back! It’s gonna be back on the market and you, dear luxury buyer, best do your homework, because we’re told it is coming back on the market around $2,225,000 (give or take a couple thousand bucks)! Yes, that’s right. Your chance is here to buy it for more than the previous list price in a down market where high end luxury is getting hammered. Home Owners dues are low, only $2400/month, and the price is climbing on this listing to be, so give us a shout and we’ll get you in there before the rest of the masses clambering for an over-priced slice of pie in the sky.

For the record, it is a beautiful unit in a great building and there are other great units for sale (and motivated sellers), we’re just not so sure bringing Unit #2203 back on the market at a price higher than the previous list price that didn’t sell is such a good idea. (Good way to get a listing though.) Of course, if someone is not doing their homework and they don’t check the property history (think Shady Agent tactics), there will be no harm done (ignorance is bliss, really). Otherwise, consider yourself educated, and tell your friends we almost always have the inside track to San Francisco real estate, and we’ll make sure your ass is covered.

-[Editor's Note: One Stalecade is equal to one property that has been on the market 100 days or more. Stalefish + Decade = Stalecade. Therefore, a property on the market over 200 days has survived two Stalecades...a stretch in terms, but we're running with it.]

Stalefish: San Francisco’s New Delicacy

About once a month, on sfnewsletter, we put out our list of Stalefish Properties for our readers’ delight. Today, we thought we’d share that same list with you, and highlight some of the Stalefish swimming in that Stale Pond.

175 Bright…future not so bright. It is a short sale (possibly the reason it still shows as active) and has spent a meager 291 days on the market. Maybe it’s because it shows “0 bedrooms, 0 baths”. That could be an issue.
175bright

So you’ve heard of the “Little Engine That Could”, but what about the Little $6Million Firehouse That Can’t Sell? We have one of those in our Stale Pond too:
firehouse

Fans of Kirkwood Ski Resort? Well set this Stalefish free and live at 1526 Kirkwood St. in San Francisco…only 322 days on market:
kirkwood

Take your pick at the Ritz, where for a mere $5.4Million you can get an unfinished slice of pie in the sky.
ritz
Not a fan of the raw, un-finished Stalefish swimming in the Ritz pond? Fear not, there are plenty of fully cooked units to choose from.

Remember that ultra slick, sleek, can’t do no wrong building called the Brannan? Well, you can get this Stalefish for $1.4M (down from $1.8M), but beware…we see a ghost (likely just an agent skimping on photographer expenses) in that glass!
brannan

So what’s the moral of this Stalefish story. Although San Francisco’s Stalefish pond is filling up with properties, there are still many tasty treats to be had and buyers have bargaining chips on their side, so don’t be shy…jump in the Stale Pond with both feet and see what you can find swimming on the bottom!

[Editor's Note: What is a Stalefish? A property that has been on the market 100+ days (give or take). Nothing more, nothing less.]

Out Of The (Stalefish) Pond And Into The File

When the bottom falls, it falls hard. By way of unplugged Flujster, we learn our new favorite house becomes our new favorite comp. Three thirteen Duncan, a stunningly remodeled contemporary 5 bed, 5.5 bath home in Noe Valley closes escrow for a reported $2,400,000…down slightly from the original $2,850,000 asking price.
313duncan1

Looking on the bright side (for the developer), it only spent 72 days swimming in the Stalefish pond. [In order to reach Stalefish status a property must be on the market 100 days, 313 Duncan was on the market 172 days, so time spent in the pond...72. Prior to that it was just another listing.]

We’ll file this one under Done Deals that make us jealous. Congrats to the new buyers. We make a killer margarita, so don’t be shy.

-313 Duncan…5 bed, 5.5 Bath, closed at $2.4M [MLS]

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]