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]

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:

SF liquefaction map

Bay Area Liquefaction, Landslide, and Seismic Zones – Mapped

Lots of talk in the news these days about landfill, liquefaction, and general stability of property in and around San Francisco’s waterfront, and entire city for that matter (see “SF’s landmark tower for rich and famous is sinking and tilting“that hit newsstands and internets today [SF Gate/Chronicle]).

Big news, no doubt, but what about the rest of us?

I did a post waaaay back in 2010, preceded by the post I did even further back in 2008, both of which get hundreds, sometimes thousands of views daily, so I know for sure this is a topic of interest when buying/selling property in San Francisco. And since I get so many questions about whether the property you want to buy is, or is not, in liquefaction, let me be clear, I AM NOT A SEISMOLOGIST, GEOLOGIST, SCIENTIST, OR ANY TYPE OF OTHER EXPERT IN THE FIELD OF EARTHQUAKES, LIQUEFACTION, LANDSLIDES, LANDFILL, MUD FILL, BEDROCK, SETTLING, SLOPING, SLIPPING, SLIDING, OR ANY OTHER FIELD OF INTEREST THAT HAS LED YOU TO THIS SITE FOR KNOWLEDGE ABOUT LIQUEFACTION. I AM A REALTOR, AND EXPERT AT MARKETING PROPERTY FOR SALE, AND HELPING BUYERS BUY. WHAT I AM SHARING HERE IS MEANT TO BE A RESOURCE FOR YOU TO MAKE YOUR OWN EDUCATED DECISIONS. DO NOT RELY ON THE INFORMATION POSTED HERE FOR YOUR PROPERTY PURCHASE OR SALE.

That said, I want to share a new App/site with you: Temblor…all things Seismic. You have to check it out. It’s awesome, and will hook you in for hours.

Check out this screenshot of the entire Bay Area…including liquefaction zones, fault lines, and recent quakes.
bay area liquefaction zones

Now zoom in to San Francisco…
SF liquefaction map

As I sit in my home office, which, according to Temblor, is built in an area of “moderate Liquefaction Susceptibility”, and a “Seismic Hazard rank of HIGH” (I challenge you to move the pin and find an area in SF that is not “High”), it’s left me wondering…does this change anything for me, and my decision to own property where I do? No. It doesn’t. It’s better than a map telling me I live in an area of High Tornado Susceptibility, where I roll the dice on a pair of glass slippers showing up on my doorstep.

So, there you go. Plug in your address, your mom’s address, your brother’s address, your employer’s address and see how you all stack up. This is yet another amazing resource, thanks to the Internet, available to everyone and anyone with even a remote interest in Earthquake activity (I’m guessing that’s everyone in California, at least). And I’m pleased to be sharing it with you.

Full disclosure, yes, I chatted with the founders of this service, no, they are not paying me for this post. I have downloaded the app, and refer to it constantly.

Happy Monday.

Previous Earthquake related posts on theFrontSteps:

SF neighborhoods prone to liquefaction and earthquake induced landslides, bedrock vs. landfill take two [theFrontSteps]
Ask Us, A map of bedrock vs landfill [theFrontSteps]
Liquefaction Zones of San Francisco’s Marina District [theFrontSteps]

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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.

SOLD | 1011 23rd Street | Modern Loft In Dogpatch

1011 23rd Street #10 | Dogpatch Loft | $699,000

Dogpatch, San Francisco: according to Wikipedia “is located on the eastern side of the city, adjacent to the waterfront of the San Francisco Bay, and to the East of Potrero Hill. Its boundaries are Mariposa Street to the North, I-280 to the West, Cesar Chavez to the South, and the waterfront to the East. It contains housing, some remaining heavy industry, more recent light industry, and a new but growing arts district. In 2002 it became an officially designated historic district of the city of San Francisco….[and] there is no definitive explanation for the name

One thing we know for certain, Dogpatch has some amazing properties, and 1011 23rd Street #10 is right up there…

Situated on the corner of 23rd Street and Minnesota, this corner unit residence features soaring (approximately) 17′ ceilings, enormous windows that flood the home with natural light, an open kitchen/living area with bar seating, granite countertops, stainless appliances, fireplace, refinished hardwood floors, in unit Washer & Dyer, new carpet in the loft bedroom, and parking.

Just a short walk away from the increasingly vibrant Dogpatch shops and restaurants, and half a block away from Philz Coffee (yes, that’s a selling feature, since Philz was voted the best coffee house in San Francisco, and this is their Mothership location), living at 1011 23rd Street will afford you all of the new things San Francisco is offering up, as well as some of the old that seems to have been lost (especially some grit and character).

Come check out this wonderful loft, introduce yourself, feel the vibe, cruise the neighborhood, bring me a coffee, and I’ll hand you the keys – coffee and a few hundred thousand dollars.

Listing Details:
$699,000
1 bedroom
1.5 bathrooms
1 parking space
Corner Unit Loft
Soaring (Approx. 17′) Ceilings & Windows
Custom Window Coverings
Open Kitchen w/bar counter
Granite Countertops
Dishwasher
Hardwood Floors
New Carpet in Bedroom/loft
Fireplace
Washer & Dryer
Storage
Fitness Area
View Roof Deck
HOA Dues: $512.94/mo (Includes Water, Garbage, Webpass Internet, Building maintenance, gym, roof deck, building insurance, outside management)
A+ Dogpatch Location

Showing Schedule:
Private Showings Upon Request
Open House Sundays 2-4pm

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

2169 Folsom M202 | Allied Box Factory Lofts | Mission District | $1,375,000

From your first look at the exterior of the historic Allied Box Factory, to the time you stroll through the lush courtyard to this one of a kind Live/Work loft, you will be in awe…

Originally built in 1907 as a timber factory, the Allied Box Factory was converted to a mixed-use development in 2001 with the intent of fostering a creative community. Of the Allied Box Factory’s 31 spaces, 15 of them are live/work condominiums, eight of the building’s non-residential units are used as creative studios, and six house commercial enterprises.

Situated on the second floor, unit M202 has recently been transformed from cool to ultra cool with the complete remodel of the kitchen/living/dining area that creates an ambiance second to none. Entertain guests in your modern, open kitchen complete with a 5 burner Thermador range, grey Caesarstone Countertops, Custom Walnut Cabinets, Carrera Marble Island (with seating), Thermador Dishwasher, GE Monogram Refrigerator, and original bar lighting from the previous owner, famous artist Rex Ray.

A combination of hardwood and concrete flooring with large exposed timber and open ceilings is certain to capture your attention. Extend your living area by opening the doors to your large outdoor PRIVATE patio with room for seating, dining, gardening, and of course barbecuing. Enjoy the warm weather the Inner Mission provides, soak in the city vibes and rooftop views, and live the San Francisco dream.

Not only does this amazing unit feature a completely remodeled kitchen, a designer bedroom with custom closets, hardwood floors throughout, a designer bathroom with custom mosaic tiling, washer & dryer, and deeded parking, but also a completely separate bedroom/office/studio across the hall. This room also contains gorgeous wood floors, original windows, tons of natural light from the courtyard, and is ideal for the live/work lifestyle so many of us strive to achieve.

Listing Details:
$1,375,000
2 bed
1 bath
1 car parking
Remodeled Designer Kitchen
Carrera Marble Island
Caesarstone Countertops
Custom Walnut Cabinets
Thermador Range
Private Patio
W&D
Hardwood & Concrete Floors
HOA Dues: $437.96/mo + approx $40/50/mo for common utilities
Prime Inner Mission Location
*Live/Work loft. Certain restrictions/stipulations may apply. Buyer is advised to investigate

Showing Schedule:
Private Showings Upon Request

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

beach cottage

The Itsy Bitsy Teenie Weenie Million Dollar Beach Bungalow

It’s official…in San Francisco a million bucks barely buys you an (almost on the beach) beach bungalow…actually you need $1,050,000…and depending on what size waves you’re thinking of surfing at the most popular surf spot north of San Diego, you’ll want to consider ultra custom space-saving racks.

In case you’re wondering, it was listed at $699,000. It is close enough to catch the blowing Springtime Sand, so I guess you can call it a “beach bungalow”.

Surf is not up this weekend in San Francisco (Surprise!), but surely you know a friend with a boat. Happy Memorial Day weekend!

Top 20 Overbids, Underbids, and so much more, right here on The Goods.

3434 Rivera, Street, San Francisco [Property Detail Page]

160santama

From $899,000 To $1,400,000 | Holy (160) Santa Marina!

Would you look at that…the #1 Overbid of the week is not a fixer! It’s a been a while for that, but we’re pleased to report the market is strong…very strong for any reasonably good property in any reasonably good neighborhood of San Francisco, which is pretty much everywhere now.

This property (160 Santa Marina) was ridiculously under-priced at $899,000, but still.


It sold half a million dollars over the seller’s asking price and just clinched the top spot on this week’s Top 10 Overbid list by selling for a stunning $1,400,000.

As for the rest, here you go.