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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San Francisco Condominium Real Estate Apprecation since 2011

The information below is provided by Paragon Real Estate Group, enjoy:

In the last 5 years, San Francisco real estate market rebounded and went crazy hot, but how much did it really appreciate? Below is a great analysis from Paragon that shows you the data using median sales price. This post is specific to condominiums, the next post is specific to houses appreciation.

Median sales price is a very general statistic, often concealing an enormous variety of values in the underlying individual sales. It can be and often is affected by other factors besides changes in fair market value, such as changes in the inventory available to purchase, and major changes in the distressed property, luxury home, or new condo construction segments. Sometimes median prices fluctuate without any great significance: substantially different groups of homes (larger, smaller, older, newer, etc.) simply sold in different periods. Assessing appreciation by changes in dollar per square foot values, instead of by median sales prices, can sometimes deliver significantly different appreciation rates.

Below the charts is a table with a more comprehensive list of San Francisco neighborhoods, and at the bottom of the page is a neighborhood map.

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The neighborhoods on the table below are grouped by San Francisco Realtor District, some of which contain neighborhoods of relatively similar values and some with highly variable home values.

Generally speaking, the higher the number of sales, the more reliable the statistics: We’ve usually calculated appreciation rates for neighborhoods with at least 24 sales in 2015, but these should still be considered very approximate.

An asterisk signifies a very low a number of annual sales and/or our suspicion that the appreciation calculation would not reflect market reality due to the variety of issues pertaining in the area. New, high-price condo projects can make sudden, dramatic impacts on neighborhood median sales prices in the year they go on market. In 2011, median sales prices in some areas were badly distorted by distressed property sales (bank and short sales) that didn’t represent fair market values. If either of these situations applies, the 4-year appreciation rate will jump higher in that neighborhood.

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If you, or anyone you know, are looking to buy or sell San Francisco real estate, take a look at my track record, happy clients, and generally awesome listings and let’s get you sorted.

Spacious 3 Bedroom

SOLD: 1471 McAllister, Alamo Square, San Francisco

It’s taken me a little while to get some recent sales posted, but I’m happy to announce we sold this wonderful 3 bedroom, 2 bath home in Alamo Square at 1471 McAllister. Considering my clients had only purchased it barely two years prior, we did incredibly well.

I would have liked to list it at $1,295,000, but ultimately we rolled the dice a little higher and listed at $1,395,000. Interest was incredibly high, dozens of disclosure packages were handed out, and ultimately no offers came in on the day offers were to be reviewed (the week prior to Fourth of July…note to self, don’t do that again). The next day the phone started ringing off the hook. Two offers came in, we ratified one, and it fell apart. BOM (that’s Back On the Market) a few days later, we received two more offers and were able to hold it together. Lack of official nearby parking was the killer for us, but really, we did fine. Amazing actually.

Congratulations to the thrilled buyer and my happy seller. Let’s do it again soon!

SOLD: $1,375,000

1471 McAllister, Alamo Square listing information [theFrontSteps]

1471 McAllister Designer Kitchen

For Sale | 1471 McAllister | Alamo Square | San Francisco

This new listing is a beautiful 3 bedroom, 2 Bath Victorian Condo one block from Alamo Square Park & Divisadero corridor restaurants, cafes and shops. Full floor flat including an open/bright high-end kitchen with Bertazzoni Gas Range, spacious Master bedroom and bath w/ Carrera Marble Floors, radiant heat, and a large glass tile shower. Two additional full-sized bedrooms and large closets outfitted with California Custom Closets. Double paned windows in bedrooms and kitchen. Original Details throughout including Hardwood Floors, High Ceilings, Pocket Doors, Wainscoting and a large Wood-Burning Fireplace in Living Room. Leased Parking available nearby & Spot On parking app accessible lot across the street.

Details:
$1,395,000
3 bedroom
2 bathroom
1 car parking (leased nearby)
Hardwood Floors in main areas
Bamboo Floors in Kitchen
Carpet in one bedroom
Woodburning Fireplace in Living Room
High Ceilings
Victorian Details
Deeded Yard/Outdoor space
Designer kitchen
Wine Refrigerator
Bertazzoni Range
Stainless Steel Appliances
Radiant Heat in Master Bath
Clawfoot Tub
Alarm System
Washer & Dryer in garage
Dogs Okay
HOA Dues $336.06 / month
Offer Date is TBD
MLS DETAILS HERE

This is one you will not want to miss, especially given it’s central location walking distance to everything.

Planned Showing Schedule:
6/20 from 1-4pm
6/21 from 1-4pm
6/23 from 11am-12:30pm
6/24 from 5-7pm
6/27 from 1-4pm
6/28 from 1-4pm
Private Showings Available

To get in prior to the masses, or for additional information, including disclosures, please contact me, as I am the listing agent. Either email me: alexclark@gmail.com, or call/text 415-254-5351.

1365 Scott #2, Living Area

For Sale | Designer Condo | Hip Location | $779,000

Situated within the Beideman Historic district of San Francisco’s Western Addition Neighborhood, just steps from the bustling shops and restaurants of the Divisadero and Fillmore corridors (think NOPA, Bi-Rite, The Mill, State Bird Provisions, Japan Town, and so many more), and a chip shot away from Alamo Square and Alta Plaza Park, this spacious 2 bedroom, 1.5 bath condominium offers modern amenities in a truly amazing central location.


Home features:
Hickory Wood Floors in the living, dining and kitchen areas
Crown molding
New carpet in the bedrooms
Modern bathroom with shower/tub
Remodeled kitchen with White Silestone Countertops, Cherry wood cabinets, Bosch dishwasher, open layout perfect for entertaining
Wood burning fireplace
Private patio area
1 car Parking
Storage
Laundry
Common outdoor space
HOA dues $1421/quarter
List Price $779,000
Walk Score 96
Transit Score 81
Biker’s Score 92

Culture, Diversity, Vibrancy…it’s all here, and waiting for you out your door. Whether you’re a walker, biker, or other, you’ll feel totally in the mix of San Francisco’s past, present, and future, living at 1365 Scott.

Showing Schedule:
Sunday 1/25, 2-4pm
Tuesday 1/27, 11am-12:30pm
Thursday Twilight 1/29, 5-7pm
Sunday 2/1, 2-4pm
Private Showing available upon request

For more information please contact me:
Alexander Clark
415-254-5351
alexclark@gmail.com

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SOLD! 1471 McAllister

I am pleased to say, I just helped my clients secure this wonderful property in the Alamo Square (bordered by and often referred to as NOPA) area of San Francisco, located at 1471 McAllister. It’s a fabulous 3 bed, 2 bath property in an extremely awesome location, and we are thrilled to say we “won” this most competitive offer situation.

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List price: $995,000

6 units in Alamo Square: an update

Not too long ago we reported on some properties that were near and dear to our wallets, literally. True to our word, we report the good, the bad and the ugly.

So we again, bring a sad story on what can happen in this market.

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The property is 869-879 Grove, a 6-unit building in the Alamo Square district, and the story (shortened) is as follows:

Actually, we’ll make it really short. Hit the market 9/6/07 for $1,695,000, had tons of activity, some very serious buyers circling, but none that wanted to take on the daunting task of the tenant issues associated with this building in order to be able to maximize the use of the property. So… it is still available, and on the Fast Track to Staledom. For the savvy buyer that would like to owner occupy this building, you might like to take a look. For the developer looking to evict and flip, maybe not.

What Happened? Redfin got it. [theFrontSteps]

Nothing Special, Just $421,000 over asking, that’s all (1809 Diamond) [theFrontSteps]

Reasons for my Absence, Market Activity on Three Levels [theFrontSteps]

The reasons for my absence: Market Activity on three levels

I know, I know. I’ve been MIA, but there is a reason. A good one. Or two. Actually three. You see, when I get caught up in this blog, reading comments, and reporting on what I see “virtually” I almost get the sense the market has cooled. It has cooled, but not nearly to the extent reported by every other media outlet out there. When I go out into the “field” with buyers and sellers, it is an entirely different picture.

My first example:

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420 Lake, a six unit building asking $1,950,000, in the Lake District. Priced a bit too high for my client who is looking to vacate the building, completely remodel, and sell as TICs, this property had a showing schedule, an offer date (gasp!) and is now in contract. How it pans out, we can only wait and see, but that should be a good indication of something.

My second example:

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869-879 Grove, another 6 unit building asking $1,695,000 in Alamo Square. Just hit the market, first Broker Tour was yesterday, and is rumored to be receiving an offer today.

My third Example:

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2185 Bush #311, my own listing, a two bed condo in Lower Pacific Heights. Received an offer after only 18 days on the market, with many, many buyers circling. We’re still negotiating the final details, so hopefully I don’t jinx it, but the buyers are there, as is the activity, the loan approvals, and interest.

[Update: Literally two minutes after this went live, we are ratified in contract…with contingencies.]

636 Steiner…an offer and a UFC style beat down!

by Alexander Clark

If you’ve never seen an Ultimate Fighting Championship match you’ll have no idea what I’m talking about, and I know it’s a stretch comparing writing an offer to stepping into the Octagon and taking on the likes of Chuck Liddell, but to some of my clients, they truly feel they are getting kicked while they are down and they just want to get a place to stop the bleeding.

Our story of 636 Steiner, a 3 bed, 1 bath, 1582 sqft. condo in Alamo Square, asking $869,000, is quite a doozy.

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I’ve put this picture of the kitchen in so you all can see what kind of kitchen near $1,000,000 buys you these days, and illustrate a big problem (among others) I had advising my clients to go much higher in their offer price.

This all started a couple weeks ago when my clients said they’d found a place they want to write an offer on. (This would be the third offer they’ve written, the other two being 218 Cole, and 256 Page).

The seller decided not to do the typical pre-contractor and pest inspection in order to promote super “clean” offers, so we thought we’d get a leg up on the competition and do them prior to the offer date…the seller said no, because we weren’t the only party requesting to do this. So we waited until Monday.

Offers were due at noon, and I was continually calling the selling listing agent to find out how many were coming in, so that we could adjust our asking price and submit an offer at a price that we thought would keep us in the game. Our first offer was at $915,000, which I submitted at 12pm. I called the agent and asked how many offers he had received…the answer “four so far, but I expect 9 total.” My thought…”F*ck!, what the hell!”. Called my clients, told them the story, and said we better put our best foot forward. So at 2pm we revised our offer, told them to burn the other one, and submitted our max offer at $950,000 pleading the selling agent to keep us in the game. So we are now $81,000 over on a home that has tiny tandem parking, a trek down the stairs to the washer/dryer, really no easily accessible outdoor space, a kitchen that really has no counter space, and 8 other interested buyers. I told the agent to give it to me straight, so we don’t waste any more time. His answer, “I have three offers higher than yours, and they’re very ‘clean’.”

That’s it. Throw in the towel, clean up the blood, lick our wounds and move on. The property was in contract that evening, so I’m thinking there wasn’t too much in the way of counter offers and I wouldn’t be surprised if it sells north of $985,000, which to me, is absolutely nuts.

The score: my clients 0, the market 3. These clients need a knockout on their next offer and we’ve asked Mr Liddell for some help, so steer clear.

Happy house hunting.

218 Cole: Damnit it happened again [theFrontSteps]

Why’s this keep happening to me?! [theFrontSteps]

636 Steiner [MLS]