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844 Haight Street | Hayes Valley | $1,295,000

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
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

Showing Schedule
Open Houses Saturday & Sunday 2-4pm
Private Showings by Request

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

SOLD | $1,400,000 | Box Factory Lofts

Sold | 2169 Folsom M202 | Inner Mission | $1,400,000

Holy hell that was a long one! In the end, we got it done. Congratulations to all involved. And to those readers that are looking for more blogging than just our recent sales, my apologies. We’re working on that too. Gotta make hay while the sun is shining, and get back to blogging about all that good real estate p*rn when we come up for air. In the meantime, there is always The Goods, which updates daily so you can track everything on your own.

SOLD | $3,200,000 | Alamo Square

SOLD | McCormick Queen Anne Flats | Alamo Square | $3,200,000

Congratulations to my wonderful clients on their (way below list price) purchase of this amazing property known as the McCormick Queen Anne Flats just a stone’s throw away from Alamo Square Park.

Built in 1894 by architect Absalom J. Barnett, a resident of the Western Addition, for William and Margaret McCormick in the hope that their daughters would live close to them when they married, this magnificent storybook Queen Anne Victorian is 6,000+ square feet, and loaded with Victorian details.

What an amazing property! Congratulations to everyone involved. My client’s lender was outstanding, the other agent was easy to work with, which all made for a very smooth and ideal transaction. Thank you everyone for your professionalism, and calm.

Originally listed for $4,150,000, my clients scored it for $3,200,000.

Buyer represented by Alexander Clark
theFrontSteps
Keller Williams Luxury Realty

For details about this transaction, please do not hesitate to contact me. In the market to sell your trophy property? I can help…I seem to be attracting the Queen Annes lately.

179 Carl, Cole Valley Queen Anne Sold [theFrontSteps]

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If It’s Not Selling Over, It’s Selling Under

Top 10 Underbids in San Francisco this past week:

Address BR BA Parking List Price Sold Price Underbid
1219-1219A Stanyan Street N/A N/A 2 $2,579,000 $2,100,000 -18.57 %
1111 Bay Street 2 2.00 1 $1,199,000 $1,000,000 -16.60 %
677 Ellis Street N/A N/A 0 $2,695,000 $2,275,000 -15.58 %
338 Spear Street 2 2.00 1 $1,999,999 $1,799,000 -10.05 %
39 Carmel Street 2 2.00 1 $1,995,000 $1,800,000 -9.77 %
21 Dalewood Way 2 1.00 1 $995,000 $915,000 -8.04 %
3959-3961 Washington Street N/A N/A 1 $5,300,000 $4,995,000 -5.75 %
1650 Broadway 3 2.50 2 $5,395,000 $5,100,000 -5.47 %
354 Roosevelt Way 3 3.00 1 $1,795,000 $1,700,000 -5.29 %
1450 Post Street 2 2.00 1 $709,000 $675,000 -4.80 %
300 Sussex

SOLD | 300 Sussex | Glen Park | $3,365,000

Congratulations to our clients on their recent purchase of this amazing Glen Park home at 300 Sussex, a wonderfully brand new modern home with 4 bedrooms, 3.5 baths, indoor/outdoor living and an A+ Glen Park location.

What a great home, smooth transaction, top notch builder, and excellent first transaction for the newest member of theFrontSteps. Congratulations Kimberly. Well done.

If you are in the market to buy or sell a home, please do not hesitate to contact us. We know of all kinds of wonderful property both on and “off” market.

Buyer represented by Kimberly Slevin
theFrontSteps
Keller Williams Luxury International

Property Details [MLS]
-Photo Credit, Rob Jordan Photography
-Listed by KJ Kohlmyer of Zephyr Real Estate

37ricobath

¡Que Rico! | $681,000 Over Asking For A Tear Down | ¿Qué?

The Friday before Labor Day weekend…Many call it the end of Summer, but here in San Francisco it’s safe to say it’s the beginning. Our temperatures finally heat up from the Bay Shore to the Pacific Ocean. The sun is lower on the horizon, shadows are longer, Fall fashion ads are everywhere, and local restaurants are transitioning to seasonal delicacies like squash and brussel sprouts (Children everywhere collectively laughing at that comment!), and this weekend is the final exodus of Summer travelers, many of whom are headed to Burning Man.

37 Rico Way…a tear down (if you’re so lucky to be able to tear it down) in the Marina district, and definitely built on Landfill, listed for $1,999,000, and sold in the blink of an eye for $2,680,000…in case the hallucinogens of Burning Man are already kicking in and that math is perplexing you, that’s $681,000 over list…and our market is cooling.

As for the rest of the top 10…here you go:

Address BR/BA/Units DOM List Price Sold Price Overbid
37 Rico Way 3/1.00/N/A 15 $1,999,000 $2,680,000 34.07%
753 44th Avenue 2/1.00/N/A 15 $898,000 $1,185,000 31.96%
343 29th Avenue 3/2.00/N/A 13 $1,495,000 $1,950,000 30.43%
83 Winfield Street 2/1.00/N/A 8 $1,050,000 $1,350,000 28.57%
472 Naples Street 2/1.00/N/A 35 $575,000 $735,000 27.83%
361 Church Street 2/1.00/ 43 $989,000 $1,260,000 27.40%
534 Shotwell Street 2/1.50/4 12 $949,000 $1,200,000 26.45%
1178 Dolores Street 2/2.00/ 12 $1,395,000 $1,760,000 26.16%
421 Los Palmos Drive 3/2.00/N/A 22 $1,058,000 $1,325,000 25.24%
486 45th Avenue 6/5.50/N/A 29 $1,998,000 $2,500,000 25.13%

It’s a transitional weekend for real estate, and next week will begin the flood of inventory to our market for the (hopefully) robust Fall selling season. We’re just as anxious to see how it all pans out as you, so make sure you follow this blog, and we’ll keep you in the loop.

Bending your real estate mind one blog post at a time, it’s what I do.

Have a great weekend!

Marina District Liquefaction Zones [theFrontSteps]

2016-08-05_14.10.15

Who doesn’t love em…Overbids!

I guess buyers don’t love em. Or the thousands of people still trying to get in this market, but fear not. The tides will turn at some point. They have to.

Top 10 Overbids for San Francisco

Address BR/BA/Units DOM List Price Sold Price Overbid
1551 21st Avenue 4/3.00/N/A 42 $998,000 $1,510,000 51.30%
1634 30th Avenue 3/1.00/N/A 29 $995,000 $1,325,000 33.17%
83 Sharon Street 2/1.00/ 23 $799,000 $1,022,000 27.91%
205 Ellsworth Street 1/1.00/N/A 7 $799,000 $1,020,000 27.66%
422 Green Street 2-4 Units 12 $899,000 $1,130,000 25.70%
425 Lake Street 5/1.50/N/A 12 $1,995,000 $2,450,000 22.81%
824 Shields Street 2/1.00/N/A 26 $699,000 $853,000 22.03%
1770 24th Avenue 4/3.00/N/A 7 $1,195,000 $1,455,000 21.76%
54 Cook Street 56 2-4 Units 11 $1,200,000 $1,455,000 21.25%
2 Dawnview Way 5/4.00/N/A 18 $1,250,000 $1,504,000 20.32%

For more Overbids, Underbids, Stalefish, Recent Sales, and New listings, check out my Goods Page. Your one stop shop for all things Real Estate.

Happy Friday! Come check out my new listing this weekend – she’s a beauty, that’s for sure.

1957 11th Ave Kitchen

For Sale: 1957 11th Ave | Golden Gate Heights | $1,295,000

Nestled in the hills of Golden Gate Heights with wonderful vistas to the North/North East, surrounded by beautiful trees and a lush garden, and tastefully remodeled for the minimalist in all of us, including a painstakingly thought out master suite on the lower level, which opens to the garden, 1957 11th Ave is the home you don’t want to miss.


Having found this wonderfully crafted home built in 1948, the architect/owner of this home set out on a journey to create an oasis of minimalist living and design aesthetic nestled into the hills of this vibrant and bustling city of San Francisco. The kitchen was remodeled in 2008 with a focus on clean lines and simple living while maintaining the charm of the original home. In 2014 the lower level was completely remodeled incorporating a designer master suite with walk-in closet and ultra modern master bathroom complete with radiant floor heat, Hans Grohe fixtures, Ariostea Italian High-Tech Wood tile, and Toto toilet.

Not wanting the upstairs bath to be outdone, it too underwent an extensive designer remodel in early 2016 also with radiant floor heat, Ariostea Italian High-Tech Wood floor tile, Honed Italian MaxFine Calacatta wall tile, Toto toilet, and a wonderfully situated window which make tub soaks and showers feel as if you’re in the garden.

In addition to the remodeled designer master suite, kitchen, and luxury baths, this home contains a total of three bedrooms, approximately 1595 square feet, parking for one car, a woodburning fireplace, hardwood floors with original detailing, high ceilings, views, hallway skylight, a “Romeo & Juliet” balcony from the second bedroom to the garden, a deck off of the kitchen perfect for outdoor dining/entertainment (and of course barbecuing), plantation shutters, new water main, new furnace, tankless water heater, stackable washer & dryer, recessed lighting, and a newly installed irrigation system to keep the amazingly lush garden alive and well.

This home…you must see.

Details:
$1,295,000
3 bed
2 bath
1 car parking
Remodeled Kitchen, Baths, Master Suite
Radiant Floor Heating in Baths
Ariostea Italian High-Tech Wood tile
Hans Grohe Fixtures
Woodburning Fireplace
Hardwood Floors
Lush Landscaped Front and Rear Garden
Irrigation System
Stackable W&D
Tankless Water Heater
Recessed Lighting
Plantation Shutters
Views
New Furnace
Toto Toilets

Showing Schedule:
Open: 8/20 1-4pm
Open: 8/21 1-4pm
Open: 8/23 1-2:30pm
Open: 8/25 5-7pm
Open: 8/27 1-4pm
Open: 8/28 1-4pm
Private Showings available by request
Offers, if any, kindly accepted and reviewed 8/30 @ noon.

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

Contact me for details or to get in early:

overbidssss

Hey Overbids!

The overbids are still there, it’s myself who has been a bit absent. Hey! It’s Summer, so why not.

Top 10 Overbids for San Francisco:

Address BR/BA/Units DOM List Price Sold Price Overbid
792 Capp Street 3/1.00/N/A 13 $995,000 $1,450,000 45.73%
154 Bonview Street 1/1.00/N/A 9 $799,000 $1,150,000 43.93%
113 Newman Street 2/1.00/N/A 9 $889,000 $1,250,000 40.61%
2330 Sloat Boulevard 5/3.00/N/A 23 $995,000 $1,380,000 38.69%
1375 32nd Avenue 2/1.00/N/A 32 $950,000 $1,280,000 34.74%
1728 Ortega Street 3/2.00/N/A 16 $1,095,000 $1,458,000 33.15%
850 Treat Avenue 2/1.00/ 10 $999,000 $1,300,000 30.13%
23 Roscoe Street 1/1.00/N/A 27 $695,000 $890,000 28.06%
4228 24th Street 2/2.00/ 15 $1,299,000 $1,650,000 27.02%
1856 28th Avenue 3/1.00/N/A 25 $975,000 $1,238,000 26.97%

For more Overbids, Underbids, Stalefish, Recent Sales, and New Listings, check out The Goods.

Have a great weekend. Come visit me at 1011 23rd, my super sweet loft, which just came BOM for $699,000.

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San Francisco Market Report

Britain’s June vote to exit the EU has already had an impact on the market in the US, including here in San Francisco. Mortgage rates have dropped almost a quarter of a percent, making the monthly payments on our pricey housing slightly more affordable. The result is that it will support continuing increases in sales prices, as decreases in interest rates always do. For example, a $1,000,000 loan at 3.75% costs $4,631/month, but at 3.5% you can borrow $1,032,000 for the same monthly payment. And monthly payments are what buyers focus on.

The Federal Reserve Bank of San Francisco published its upbeat Economic Forecast in June which indicated continued strong job and economic growth, continued low business and mortgage interest rates (this was published prior to the vote in Britain), coupled with historically low unemployment and inflation below the Fed’s target of 2%. The conclusion is that they see Gross Domestic Product growth around 2% for the year, at a “pace consistent with moderate ongoing expansion, which we expect to continue over the next few years.”

Of interest was their findings about the cause of the lower labor force participation rates that have been occurring since 2001 that have been noted by many previous reports. It turns out that because of the considerable shift in the wage gains during this time period to the higher income households, that these households have fewer multiple earners. On the opposite end of the spectrum, lower wage earners continue to need multiple earners to make ends meet.

The Fed report hypothesizes that this is a shift that the upper-income households have made in the work-life balance and that the workforce participation in this group may remain low. It is also mimicked by the young workers in upper-income households, where labor force participation is also significantly lower than in the general population.

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San Francisco Single Family Home median prices have been hovering between $1,352,000 and $1,380,000 for the past four months since peaking at $1,400,000 in February 2016. That was the second time median prices had hit that number, first back in May of 2015. With the drop in interest rates, we could break through that median price soon because that drop from 3.75% to 3.5% finances another $45,000 in the loan amount for the same monthly payment.

The Condo/Loft Median Sales Price hit an all time high of $1,180,000 in June 2016, up 4.9% from June 2015.

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Resale Condos-Lofts jumped 59% in both Days on Market and Months Supply of Inventory compared to June 2015, but both are still in strong sellers market territory.

Single Family Homes are up slightly in Days on Market from 16 to 20 both for May to June, 2016 and from June 2015 to June 2016. Months Supply of Inventory dropped from 2.3 in May to 1.9 in June 2016 and was also down from June 2015’s 2 months. Both market indicators continue to show a strong sellers market.

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Single Family Homes New Listings dropped by 55 from May to June 2016. It was also off 61 compared to June 2015. Of additional continuing importance is that the year-to-date number of new listings is down 60 from year-to-date 2015, a 4.1% decline. This helps explain why Months Supply of Inventory is lower than last year.

Resale Condos/Lofts had the reverse trend, with 1 more new listing on the market in June than May, 2016, and 27 more new listings in June 2016 than June 2015. And, significantly, year-to-date new listings are up 167 over year-to-date 2015, which represents a 10.3% increase in inventory. This helps explain why Months Supply of Inventory and Days on Market has risen sharply for Resale Condo/Lofts.

No Mass Exit from San Francisco on the Horizon

At last month’s SFARMLS Building Boom forum, the Bay Area Council presented its latest poll of Bay Area residents, and said that the results show that a third of Bay Area residents “are likely to bolt the region in the next few years”. In truth, that is a big overstatement of the poll results.

What the poll actually asked for was a response to: “I am likely to move out of the Bay Area in the next few years.” What people answered was: 13% said they strongly agree with that statement and 21% said they somewhat agree.

That is certainly not a third of the residents saying they are likely to “bolt” in the next few years. Exactly where would they go? Jobs are here, families are here, the great weather is here. There’s a reason our population is growing – this is a fabulous place to work and live, in spite of high prices and congestion.