100florentine

No Electrical, But You Get Plywood For Windows…And $339,000 Over List

As I sit here on a short lived break from showing my incredibly popular Outer Richmond listing, and consoling my buyers, who just lost out on 2319 47th Ave to an (apparently) $1,200,000 pre-emptive offer, I got to wondering…what’s it take to be the Maximum Overbid these days.

Apparently, all it takes is some plywood in the windows, and the most attractive of descriptions:

This home has no electricity and needs major work. All cash sale needed due to condition of property. No electrical…

100florentineside
Epic!
100 Florentine, Crocker Amazon

There is a lot of talk of the San Francisco market having cooled. Maybe in some parts of town, but definitely not the Outer Avenues, and other parts of town where you can still get a single family under $1.5M. Buy those single family homes, charming condos, and well located multi-unit buildings while you can, because if the recent sales in San Francisco featured on The Goods are any indication, San Francisco is still firing on all cylinders.

Have a great weekend. Skiing should be very nice. Surf…not so much. In SF anyway.

652 44th Ave, $1,195,000 [theFrontSteps listing]
100 Florentine [the Goods]
Top 20 Overbids [the Goods]

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Kind Words From Some Incredibly Kind Clients

Just like we snuck a very sweet off market deal at 2117 Larkin under your radar, so too did my clients sneak a nice little testimonial for me on my biz Yelp page:

Alex has represented our family in three deals in purchasing and selling property in San Francisco.
All has gone flawlessly. He is very communicative, timely, thorough and we always felt that he was looking out for our best interests. We would highly recommend him to help you on either end of a real estate transaction.

Thank you guys for the great testimonial and incredible teamwork, patience, and persistence to get through to the finish line.

Aprés beers at the base of the mountain are on me…now that it’s snowing again!

To see more testimonials, check theFrontSteps’ testimonial page.

SOLD | 2117 Larkin St | $1,025,000

SOLD | 2117 Larkin St. | Russian Hill | $1,025,000

I’m pleased to announce the successful (off market) sale of 2117 Larkin in the quintessential San Francisco neighborhood, Russian Hill. This property is a top floor, one bedroom, one bathroom condominium with one car parking, hardwood floors, gas fireplace, high ceilings, and a large open floor plan great for entertaining.

We don’t have any pictures of it, as we sold it by way of my affiliation with Top Agent Network, and saved the sellers a mountain of renovations required to get it up to its full potential. In then end, we showed it to about eight parties, received multiple offers, and sold for a very handsome $1,025,000, which put it well over $1000 per square foot.

Congratulations to my clients, the sellers, as well as the buyer who surely got a great deal in an amazing location with little competition. A win, win, win, win.

If you are considering a sale of your property, there are many ways to skin that cat, so give us a shout if you’d like to discuss.

Will Interest Rates Rise?

One of my preferred mortgage brokers (Tim Wood @ Terra Mortgage) just sent me his newsletter that dives into the question of whether interest rates will rise in 2017. It’s so full of interest rate chatter about Feds, Reserves, Trump, yada, yada…I figured you’d all love it. So here you go:

Are You Sure that Rates are Going Higher?

What if everyone thought we were going to see higher mortgage rates, and we didn’t? Remember that this is exactly what happened 13 months ago when the Federal Reserve Open Market Committee raised overnight Fed Funds in December of 2016, after which long term rates dropped and stayed low for the next ten months. Can an argument be made for the same thing happening in 2017? Perhaps.

After the presidential election, the financial markets pretty much began assuming long-term rates, including mortgage rates, would be higher in 2017. Donald Trump’s potential agenda, which include big tax cuts, infrastructure spending, and broad hiring, certainly seems to point toward higher rates. And the Fed raised rates again last month.

Trump’s stated goals during his campaign imply that rates will be higher in a couple years, especially with the pressures from wage increases nudging inflation higher. Any stimulative fiscal policy from the Trump administration could face an equal and opposite tightening of monetary policy by a Fed that raises short-term rates two or three times this year. (Remember that monetary policy involves changing the interest rate and influencing the money supply. Fiscal policy involves the government changing tax rates and levels of government spending to influence aggregate demand in the economy.)

Among other actions the Fed conducts “the nation’s monetary policy by influencing money and credit conditions in the economy in pursuit of full employment and stable prices.” The U.S. central bank will seek to prevent too much inflation from breaking out in an economy it believes is getting close to operating at its full potential, which means Mr. Trump’s stimulus might run up against the Fed chair Janet Yellen’s (and perhaps her successor’s) counter-stimulus. There are two vacancies on the Fed’s seven-member board of governors already, and Ms. Yellen’s term as chairwoman expires in February 2018, so Donald Trump will have an impact on the makeup of the Federal Reserve Open Market Committee.

The “smartest guys in the room” might be wrong with their forecasts, and that the era of low rates might stick around a bit longer. First, the Trump agenda might pack less of a growth punch than some have imagined. If so, you would expect the same cautious approach to rate increases from the Fed. The day after the election stocks rallied and bonds sold off/rates went up. Trump’s major tax cuts would tend to create a short-term boost in economic growth and higher interest rates. But there are some early signals that the Republican lawmakers who actually have to pass any changes to tax law, especially those in the Senate, are wary of tax cuts that would increase the budget deficit as much as Mr. Trump’s campaign plan would.

Regarding infrastructure spending, Trump has been short on details, and the details matter a great deal for how much an infrastructure plan could lift growth. For example, tax credits that make the finances of building toll roads more favorable are less likely to create a huge boost in activity than spending on upgrading physical infrastructure outright. So on both tax cuts and infrastructure, there’s no guarantee that the actual scale of stimulus will match some of the early post-election talk.

Second, even if the economy does start growing faster, future Trump administration appointees could change their tune on the desirability of higher interest rates. Politicians, once in office, tend to learn that they like low interest rates, and there is starting to be chatter that some in the Trump administration will push for cheaper money and the Fed attempting to hold the line to prevent inflation.

There is always the risk that some elements of Trump economic policy could end up being a drag on growth, like a trade war with China or Mexico, immigration restrictions that limit the supply of labor, or geopolitical disputes.

For the past few administrations presidents have stayed away from weighing in on monetary policy and let the Fed act independently. Mr. Trump has described himself as a “low interest rate person” but attacked Ms. Yellen by name during the campaign.

Looking ahead, even if the Fed kept its short-term interest rate targets low despite rising inflation, long-term interest rates, which are determined by the supply and demand of the bond market, would probably rise. Mr. Trump doesn’t feel bound by the traditions that have governed how recent presidents have acted. So, the future of United States interest rate policy is uncertain – like everything else in the future – but no one should be sure that long term rates are destined to move dramatically higher if at all.
-Rob Chrisman (STRATMOR Group)

#CrystalBall :-)

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State Of The Real Estate Union

If you had to guess, what would be the most common question you think a Realtor is asked?

“What’s my home worth?” No.

“Should I stage my home when I sell it?” No.

“Do you think interest rates are going to rise?” No.

All very close, and all very common questions we certainly answer more than we should (which is precisely why for the better part of a decade I’ve helped you answer those questions on your own), but by far the most common question asked by countless people (friends, clients, strangers at parties, on the ski lift, or out surfing) is….

“How’s the Market?”

Sold | 844 Haight | $1,320,000

SOLD | 844 Haight St. | Hayes Valley / Lower Haight | $1,320,000

Finally got this one sold (over asking no less)! After getting in contract and falling out on two different occasions with two different buyers, the perfect pair came along in a deal put together by way of my Top Agent Network prior to coming BOM (Back On Market) again. Third time is a charm. For more details about this wonderfully complex set of transactions, how the market impacted this sale, how this property spent nearly 3 months on the market, and lessons I learned (yes, after 15 years every transaction still teaches me something new), give me a shout.

From the marketing…

So you wanna live in the action, do you? Well, I have just the place for you – 844 Haight sits on the dividing line between Haight Ashbury (considered Lower Haight), Hayes Valley, Buena Vista Park, NOPA, Alamo Square, the Divisadero Corridor, is one block away from the Duboce Triangle area…and you’re in luck, because it hits the market today.


Huge full floor 2 bedroom, 1.5 bath Victorian flat with soaring 12′ ceilings and original details in a vibrant central San Francisco location. Formal Dining Room, Living Room, sitting area, eat-in kitchen w/ Italian Bertazzoni stove, hood and microwave, Bosch refrigerator and Dishwasher, Cherry cabinets w/pull out shelves/inserts, Granite counter tops, pot filler above stove, and Bosch Washer & Dryer in pantry. Travertine marble floors in kitchen and baths. Refinished Hardwood floors throughout. Private deck off kitchen leads to beautiful landscaped garden. Tankless water heater. One car parking. Built-in shelving and huge storage space in garage. Walkscore 93, Transit Score 97 (tech shuttle stop around corner), Bike Score 85 (you’re practically ON the Wiggle). Some would say it doesn’t get any better.

Property Details
$1,295,000 SOLD $1,320,000
Victorian Flat
2 bed
1.5 bath
1 parking
Storage
Formal Dining Room
2 Fireplaces
12′ Ceilings
Bertazzoni Range
Bosch Refrigerator
Bosch Dishwasher
Hardwood Floors
Private Deck
Shared Garden
Washer & Dryer
HOA Dues $300/month

More Recent Sales [theFrontSteps]
Testimonials [theFrontSteps]

Exclusively listed by
Alexander Clark
Keller Williams Luxury Realty International
theFrontSteps.com
alexclark@gmail.com
415-254-5351

Happy Holidays

Happy Holidays From Me To You!

I hope you all have a great Holiday and Happy New Year. I’m checking out of the blog for the remainder of 2016. Enjoy your time with family. Eat a bunch. Ski. Surf. Sit on the beach. Laugh. Be chill. Pray for Snow.

I leave you with a picture of my bad ass 75 year old dad cutting and hauling (make-shift straps mind you) a Christmas tree last week by way of Cross Country Skis and handsaws.

Happy Holidays

Is Facebook watching me! Look what just showed up on my feed…my very own boys cutting and hauling teamwork style back in 2012.

gromsgrabtree2012

Merry Christmas! Happy Hanukkah! Happy New Year!

Get after it! No Excuses.

Track the market while I’m on radio silence right here [the Goods]

Let’s be Friends [Facebook]

SOLD | 666 Post St. #1201

SOLD | 666 Post #1201 | Downtown / Union Square | $732,500

Congratulations to my clients, the sellers, and hats off to the buyer. This quintessential San Francisco residence has just changed hands, and I’m totally jealous.

Tastefully, and eco-consciously remodeled 12th Floor one bedroom, one bathroom unit with amazing views of San Francisco in The Crown Towers – an exquisitely maintained & managed elegant Art Deco CO-OP Building built in 1926, and located just two blocks from Union Square.