$1 for $1 Match When You Donate To Protect Our Winters

In case you don’t follow me on Instagram, I thought I’d share this “Giving Tuesday” pledge here too, after all, ’tis the season of giving, and I’m giving $2500 to Protect Our Winters (POW). I want you to give too, so I can match your donations (up to another $2500)!

Spread the word, check out Protect Our Winters, and donate by following this link. It is a pledge for “Giving Tuesday”, but I don’t care if you donate today or in 3 months…I’ll match it. Just mention theFrontSteps (you can add it to your first or last name) when you donate, and consider it done.

As a reminder, not only am I donating to POW in this pledge, but I give 1% of ALL closed transactions back to the planet through 1% for the Planet, so let’s get some property sold and keep breathing fresh air, surfing clean oceans, and skiing great mountains without man-made snow!

Donate to Protect Our Winters
Learn about my 1% for the Planet pledge
-Photo Credit: Adam Clark; Skier: Sage Cattabriga-Alosa; Location: Neacola Mountain, Alaska

Supremely Located West Portal Home Sells For $2,500,000

Pleased to report the recent sale of this fantastic West Portal Home:

Beautifully renovated Mediterranean-inspired home has a style and feel that is absolutely unique and special. The spacious lot (124′ frontage) creates a great floor plan with lots of natural light and privacy. Perfect home for entertaining with open chef’s kitchen, dramatic living and dining rooms. Split level floor plan offers three bedrooms, two baths. Top floor closes off as private suite. Fourth bedroom and third bath, family room, wet bar on lower level (direct access from street – no stairs). Decks in backyard are surrounded by open green space/gardens, two car side-by-side parking. Fantastic location close to shops, Metro, parks, and freeway access.

Congratulations to my buyers, and thanks again to all involved for a smooth transaction.

-40 Dorchester Way, West Portal San Francisco, $2,500,000

Is Now A Good Time To Buy In San Francisco? Five Reasons Why The Answer Is YES

…as a follow up to my Market post yesterday, and to answer the age-old question everyone asks, “Is it a good time to buy?”, take it from the head honcho of Keller Williams in San Francisco, and me…the answer is a solid yes. His thoughts are my thoughts exactly, but since he states it so perfectly, all I have to do is cut/paste! ;-)

We finally have more inventory so that the market is more evenly supported by supply and demand. This is still a robust sellers market by all benchmarks and yet buyers are still not pulling the trigger on purchasing. Why is that?

Here are the reasons buyers should really consider buying right now.

1. Interest rates are clearly continuing to rise and projected to rise three more times next year from the economists that I follow closely. [This means even if the cost of the home drops, your cost to borrow goes up, so you might not afford as much home…a wash.]

2. California association of realtors still expects a modest gain in overall prices for 2019 (2 ½ to 3 percent). With our high price points that is a significant amount of money.

3. Buyers can negotiate a little stronger with sellers in this market slightly because of the seasonality in the market but also this shift right now changed the balance of power in the transaction. [I had some buyers secure a home in a trophy Noe Valley location on Vicksburg we thought we had no chance on…but we tried, and got it.]

4. There are finally more favorable loan options for down payments which is one of the biggest challenges right now for first time home buyers to accumulate enough down payment.

5. Sellers might take a contingency sale in this market when they would not have a year ago. [See #3, and I just closed yesterday with some clients in West Portal who had loan and inspection contingencies! What!? Yeah, previously unheard of…]

The fundamentals in our economy are very good with extremely low unemployment rate, high equity in home ownership, great bank balance sheets, strong GDP and CPI and a wobbly stock market that tends to then benefit the real estate sector. The fear of buying in this market is due to lack of correct data and not feeling comfortable about the decision right now based on previous experience. We are in a shifting market and have been due for a correction. However in CA we have already experienced some of this shifting which is why there is now great opportunity to make SMART real estate decisions and make a deal at the offer table.
-Rick Cunningham

Thanks Rick. You saved me a lot of thinking. As for you buyers sitting on the fence, one of you is going to score this amazing Victorian Condo supremely located in the Haight…who’s it gonna be?

1662 Page Street, San Francisco, $1,495,000 [theFront Steps]
-San Francisco Real Estate Market Report – November 2018 [theFrontSteps]
Number of Homes for Sale in SF Remains at a 7-Year Seasonal High [SocketSite]

San Francisco Real Estate Market Report November 2018

Midterms have passed and the Democrats have taken back control of the House, effective January 1st. It remains to be seen if they will attempt to reinstate full deductibility of homeowners’ mortgage interest, which could help keep San Francisco home prices trending upwards.

Over the past four weeks, the stock market has had significant gyrations, including a 1200 point decline in the last two weeks of October which capped that month’s worst performance in seven years. This volatility may negatively impact buyers who depend on stocks for their downpayment.

The economy remains robust and the Federal Reserve Bank is expected to continue raising interest rates to keep it from overheating, resulting in inflation. These rises will be a counterweight to rising home prices because rising interest rates dampen buyers’ purchasing power.

In San Francisco, inventory rose very slightly from last year for both single family homes and condo/loft/TICs, but the market remains very solidly in the sellers’ drivers seat.

Single Family Homes:
The three-month rolling average median sales price of $1,550,000 is up 8.8% over last year’s*.

Year-to-date, new listings are up 5.1% while sales are down 1.5%.

October’s inventory of 2.5 months is 13.6% higher than in 2017.

82% of homes sold over their list price and the median percent of list price received was 113%.

The three-month rolling average median sales price of $1,199,633 is up 6.2% over last year’s*.

Year-to-date, new listings are up 5.6% while sales are up 7.7%.

October’s inventory of 3 months is 3.4% higher than in 2017.

68% of condo/loft/TIC’s sold over their list price and the median percent of list price received was 106%.

All of this said, it is my hunch these numbers do not yet reflect the incredibly quiet and wishy-washy past couple of months. There are still many properties yet to get in contract, and many yet to close…still more pulled off the market. By all accounts our market is still great, but it has definitely shifted.

Bernal Heights Home On Large Lot Gets 12 Offers, Sells In 5 Days

We had to put the battle armor on to get this one (232 Precita in Bernal Heights)…with 12 offers, and negotiations happening at light speed. We offered much lower than the final sales price (given the uncertainty in the market), but had to change our thinking, and change it fast. (This is exactly what I was talking about in my previous post about some properties not getting offers, while others get many multiples.) It was ultimately too nice of a location and lot for my client to pass up. Congratulations to you, sir…well done. It is a great house with major potential.

From the marketing remarks:

Charming 1930’s era Spanish Mediterranean style home with unprecedented 120′ deep x 56′ wide L-shaped lot, offering the most amazing back yard potential you’ll ever find in Bernal Heights! And just a block from beautiful dynamic Precita Park. Versatile, highly desirable floor plan. Living Room with wood burning fireplace, Formal dining room, Kitchen with breakfast nook -all could be opened up for incredible open Living/Dining/Kitchen experience! Two large bedrooms & delightful period bath w exquisite tilework, separate shower & tub. Parquet wood floors. Interior stairs to large home office & guest suite, w obvious further expansion potential. Live the dream & ultimate CA indoor/outdoor lifestyle with fruit orchard, potting shed & Downtown View backdrop! Premium N.Slope location, where Mission meets Bernal.

Property was listed by Vanguard Properties. I represented the buyer. If you want the play by play on how this deal went down, give me a shout.

Potrero Hill TIC With Big Views And Superb Location Fetches $985,000

I’ve been working on this one for the better part of four months, and our timing and strategy couldn’t have gone more smoothly (despite the market shift). Showing it a few times off market back in July helped us gauge the interest, set a good price, know that we definitely needed to spruce it up a bit, and it allowed the co-owners to establish fractional financing, which definitely helped the sale. After painting, staging, and doing what we do, we were able to get multiple offers, allow the other owners to finish getting fractional financing, and close without a hitch. Hats off to everyone involved, including the lender, the buyer’s agent and her clients, photographer, stager, and of course my client, the seller who couldn’t have been more easy and organized to work with. Congratulations to all!

Situated in the heart-center of Potrero Hill, and just steps to 18th Street shops and restaurants, this top floor two bedroom, one bathroom flat with sweeping Northwest views from Corona Heights to City Hall is not to be missed.

SOLD OFF MARKET | NoPa Condo @215 Cole St. | $1,500,000

Had to just do a quick blog post to congratulate the buyers and sellers of this sweet little gem I just sold off market.

Another amazing off market opportunity for my dear readers…not going on MLS for a few weeks, but definitely available for immediate purchase and viewing.

Like some of my other listings at the moment, this is off market, so we don’t have pictures to share. You gotta see it in person.

Haight Ashbury Victorian Flat Hits MLS Asking $1,700,000 – Wow Factor At 11

If you don’t get the Spinal Tap reference…it’s high time you watch Spinal Tap.

Anywho…my newest listing to hit the market.

Grand scale, turn of the century Victorian Condominium on a coveted block in the Haight / Ashbury area of San Francisco with approximately 1630 square feet of living space, original wood floors, period details, ~12 foot high ceilings, renovated kitchen & bath, two fireplaces, in unit washer & dryer, 1 car parking, exclusive use storage, shared yard, and great natural light.

A property so many seek, yet can’t find is here and available..it’s true. This three bedroom, one bath home is filled with charm and details of years past. From the century old wainscoting, to the light fixtures, picture rails, and triple crown molding, 1662 Page will delight even the most discerning Victorian fan, and wow every buyer with a modern, open kitchen, breakfast porch, beautiful split bath with radiant heat, well preserved wood floors, updated foundation and seismic strengthening, as well as parking for one car.

This charming turn of the century home enjoys a wonderful central location just steps away from all of your shopping needs and a growing number of popular restaurants, and is situated ideally for access to Golden Gate Park and Buena Vista Parks, Cole Valley, NoPa, freeways to points North, South, and East, and of course the famous Haight/Ashbury.

Property Details:
List Price: $1,700,000
1630 square feet
3 bedrooms
1 Remodeled bathroom w/ Designer Shower and Soaking tub, Radiant Floor Heating
Remodeled Split Bath (a.k.a. WC) with Toto toilet and Radiant Floor Heating
Modern Eat-in Kitchen
Granite Countertops
Breakfast Patio
Wine Fridge
Viking Gas Range
Bosch Dishwasher
Wood Floors
2 Gas Fireplaces
2 Living Rooms, one could be Formal Dining Room
New Rheem Hot Water Heater
15 New Double Paned Custom Wood Windows
Period Details
High Ceilings
Period Lighting
New in unit Washer & Dryer
1 car parking
Large Deeded Storage Room
Shared Yard and Garden Room, Fire Pit, & Grill
Extensive Seismic Retrofit completed 2016
HOA Fees $240/mo. (Includes Water, Garbage, Building Insurance, Common Electric and repairs.)
Dog okay (Limit 2)

Showing Schedule:
Open Saturday & Sunday 1-4pm

Exclusively listed by:
Alexander Clark
Keller Williams Luxury Realty International
For more information, a private tour, or to chat about your property, you can contact me via the info above, or try the contact form below.

The House Where Craigslist Was Born Finally Found A Buyer

What do you do in San Francisco when it takes you more than two weeks to get a property sold? A property that was featured on multiple media outlets for the fact it was the place where Craig Newmark founded that little website called Craigslist? You adjust, just like we did here.

After a couple weeks on the market without any real bites (despite at least 150 people walking through the door on the first weekend of Open Houses), and not having been painted or staged, the feeling was brewing inside we needed to shift our focus. Something wasn’t right. Sure, we were in the thick of the Summer doldrums, but this was a perfectly located charming Cole Valley condominium that checked all the boxes…except one…a forever dedicated parking spot. That was the deal killer.

Alas, we pulled this baby off the market for a couple weeks, painted critical rooms, changed some lighting, staged, and bammo! Sold to a wonderful person who is going to enjoy it for many years to come, and doesn’t have a car.

Thanks to my sellers for their incredible patience, and thanks to the buyer for coming forward with an excellent offer.

This property sold for $1,480,000.

The property so many seek is finally available, and it couldn’t be more supremely located…Situated in the heart-center of Cole Valley, this circa 1907 ground floor condominium will delight from the moment you walk in the door.

[Update: This was found within the walls…]

This wonderful home features three bedrooms, one remodeled bathroom, a true chef’s kitchen with Blue Star range (because not all chefs have massive kitchens, but all chefs have the best of the best stoves), hard and softwood floors from generations past, two decorative fireplaces, direct access to common area deck and shared yard, eastern exposure for amazing morning light, washer & dryer, and easy access to public transportation, Sutro Forest & Tank Hill hiking trails, Golden Gate Park, the N-Judah line, UCSF, the Castro, and USF to name a few.

Property Details:
List Price: $1,245,000
SOLD: $1,480,000
3 bedroom
1 updated/modern bathroom with radiant floor heating
Great kitchen
Blue Star Range
Dining room w/ Box beam ceilings
Nest Thermostat
Hardwood and Softwood floors
2 decorative fireplaces
Washer & Dryer
Parking in building (for one year, then rolls to 1/3 share)
Extra Storage
Low HOAs $145/mo
Direct access to yard
Approximately 1250 Square feet
AAA Cole Valley Location
Close to shops, restaurants, public transportation

I am an expert in the Cole Valley real estate market. If you are interested in selling or buying in the area, give me a shout.

Exclusively listed by:
Alexander Clark
Keller Williams Luxury Realty International

Charming Cole Valley Condo Where Craig Newmark Launched Craigslist… [SFGate]
Condo Where Craigslist Was Born Asks $1.39 Million [Curbed SF]

2263 47th Ave | Outer Parkside | $1,000,000

Every so often, you get an amazing deal in San Francisco, and you wonder if it really happened. This one did, and we were #1 on the Top 20 list of Underbids! Are you kidding…a single family home in the hottest neighborhood in the city for a million bucks? It happened, and my clients are thrilled.

Details are few and far between on this home, but you can see some here on The Goods.

Congratulations to my clients, and Mahalo to the Hawaii agent who represented the seller (that’s how you get a home for $1,000,000 in SF….look for those.)

2263 47th Ave, San Francisco