Some Epic San Francisco Homes Still Without Buyers

As you know, I put a lot of attention on the Overbids, as they are truly jaw dropping and it’s amazing they just keep happening all over the City for the better part of a decade. But something that often goes under the radar is a little something I used to call Stalefish, but now refer to as the 30+ club…properties on the market 30 days or more.

This is for you buyers that think everything that hits MLS is gone two weeks later, so don’t even bother checking back. Not true. Many a property you would think goes in a flash, sometimes sits and begs for a buyer just like you.

Take for example, 4261 23rd Street in Noe Valley:

a complete, down to the studs home renovation, including new foundation and seismic upgrades, and designed by renowned architects Dumican Mosey…still on the market after 31 days (an eternity in San Francisco). Priced at $3,795,000 that price is getting more negotiable by the day. Might be worth a second, or maybe first look.

Have a look also at 125 25th Ave:

You’ve seen this house, tucked off the street on 25th Ave just before you get to El Camino Del Mar, right on the edge of Sea Cliff. Originally built in 1916 as a carriage house, and now on the market for the first time in 40 years, this home may have come across your radar, then vanished…alas, it’s still sending a signal and that signal is “make me an offer”…now 59 days on the market.

How about one more? If you’ve ever been to Russian Hill, had to endlessly circle the blocks and look for parking, you’ve surely seen this building:

As luck would have it, this home, the Livermore Polk House II “is a magnificent four bedroom home designed by Willis Polk with exquisite Mission/Spanish Colonial Revival architectural details and gracious timelessness in every room.” A rare home indeed, and (unless MLS is not accurate) 147 days on the market.

All of these homes are easy to search and track on my page of The Goods, called 30+*. You can filter the page by clicking “Filters” to the left of the search bar, and search for all of the same properties I peruse every day.

If you find something you like, you can easily share it with your friends, get their opinions, go see it, the whole 9 yards. There are deals to be found, and there are usually many, many homes on the list you would have already expected to be sold. Check it out, and contact me if you have any questions.

Happy Monday to everyone. What a glorious San Francisco weekend that was, and continues to be for many of you fortunate enough to not be working today. My thoughts and well-wishes go out to all of those in Napa/Sonoma battling the fires. As for us San Franciscans wondering when our air will clear, according to the multitude of wind sites and apps I check daily, we should have some onshore flow this afternoon to blow it out…but then winds clock back around from the N/NE this evening, so expect smoke back in the City tonight and tomorrow morning.

*Are you a real estate agent wondering how to get this same information to your sphere? Here’s how: http://thegoods-sf.com (new version coming soon).

The Goods 30+ Club

[Data of 30+ properties is deemed accurate, but not guaranteed. Information pulled for SFAR MLS and subject to agent input, which means if the agent hasn’t updated the MLS, that information is not sent to us.]

Stalefish: You Won’t Believe Your Eyes

There is a little something in our market, of which many buyers are not aware, and many agents overlook. I have long referred to them as “Stalefish“, but others refer to them as “buying opportunity” or “still available property”, or what we named (on theGoods) as the “30+ Club”. What are these, you ask?

They are, quite simply, properties on the market more than 30 days, and darnit if there aren’t quite a few gems out there that I’d love you to buy.

Getting beat up in Noe Valley? Check out 469 Valley:
469valley
This is a 3220 square foot remodeled view home in Noe Valley…and it’s still available! Deck, garden, master suite, it has it all. Listed at $2,989,000.

Not your cup of tea? Check out 27-29 Fountain, also in Noe Valley:
27Fountain
Previously listed at $2,900,000, this detached Victorian with 4 bedrooms, booming views, decks, parking, yard, and a great location is now $2,600,000! You just saved $300,000. Opportunity knocking right here.

Maybe you don’t like Noe, and you’d rather be in Cole Valley – sorry, nada. But keep checking!

You think Pacific Heights never has anything for you? Think again. This absolutely stunning home at 2701 Broadway is still there:
SONY DSC

SONY DSC
“Comprised of five levels encompassing over 16,000 square feet the home includes 7 bedrooms, 7 full baths, and 4 half-baths, plus 2 kitchens, 2 family rooms, 2 offices, 3 rooftop terraces, a basketball/sport court, plus a multitude of rooms for today’s active lifestyle. 2 car garage,” and a bargain price of $39,000,000.

Okay, so maybe $39,000,000 is a bit more than you can handle, and you really don’t like basketball anyway. Maybe surfing is more your thing? Well…you’re in luck. It just so happens this little fish at 2307 40th Ave is still there:
230740thAVe
It’s “beautifully remodeled and updated”, close to the beach, and other “neighborhood conveniences like Walgreens” (huh?), and from what I can tell, very ready to be sold.

So if you’re getting beat out by the hordes of buyers all over the hot new listings, and you have possibly overlooked those homes that weren’t exactly perfect, you might like to give this list another glance. And if you’re an agent, you might like to send this invaluable information to your clients (branded to you, or course).

Whether you call ’em Stalefish, or otherwise, no matter how you slice it, there is opportunity out there in many shapes, sizes, and prices. Prices which, at this point, could be very negotiable.

Time to go fishing!

p.s. Wondering about the home with all the marble columns? It’s available too: 3800 Washington, $17,995,000, and it’s frickin amazing!

Stalefish, 30+ Club, Buying Opportunity: Find it all here
Battle Royale: Cole Valley Versus Noe Valley [theFrontSteps]

[Big Ass Disclaimer: Every property in this post and on the Goods 30+Club is listed as “active” on MLS. All information is deemed to be accurate, but not guaranteed.]

The 30+ Club

From 333 Grant #707 to 4348 21st St, an $11,000,000 Penthouse at the Four Seasons to a 1 bedroom condo on the 46th Floor of that big ol’ tower by the Bay Bridge, there is a little category out there that is often overlooked and it’s high time it gets the attention it deserves: Properties on the market more than 30 days a.k.a the 30+ Club.

As much as I like to highlight Overbids and Underbids, properties that make the jaw drop, multi-million dollar sales, and my own triumphs, this category should actually get more attention, because if you have a property to sell in San Francisco and it hasn’t sold or gone in contract within 30 days, you’re doing something wrong, and if you’re a buyer continually getting beat out by the other guy, there is opportunity right here under your nose.

So get on the list, and if you’re an agent, send this list to your clients, and let’s help put some of these Stalefish out of their misery.

*This data is deemed reliable, but not guaranteed accurate by the MLS or myself, although it’s pretty damn close to 100%.

30+ Club: list of properties on the market 30 Days Or More

Ignorance Is Bliss When Buying At The Ritz

Live below the big red curvy arrow!We know there are many of you out there sad at the fact you may have missed out on Ritz-Carlton Residence #2203 when it came on the market at $2,600,000 over two Stalecades ago. You may have been sad then when you missed out on the price reduction after price reduction down to the most recent list price of $1,998,000. We know, we know…more than $1300 per square foot to live in the same building as a YouTube founder, or Crocs founder just sounds so cheap and you missed your opportunity. The two bedroom (we’re calling it one bedroom with a sliding wall to make two), two and one half bath luxury residence in the sky is something to behold, but it’s gone. Off the market.

Psyche! It’s coming back! It’s gonna be back on the market and you, dear luxury buyer, best do your homework, because we’re told it is coming back on the market around $2,225,000 (give or take a couple thousand bucks)! Yes, that’s right. Your chance is here to buy it for more than the previous list price in a down market where high end luxury is getting hammered. Home Owners dues are low, only $2400/month, and the price is climbing on this listing to be, so give us a shout and we’ll get you in there before the rest of the masses clambering for an over-priced slice of pie in the sky.

For the record, it is a beautiful unit in a great building and there are other great units for sale (and motivated sellers), we’re just not so sure bringing Unit #2203 back on the market at a price higher than the previous list price that didn’t sell is such a good idea. (Good way to get a listing though.) Of course, if someone is not doing their homework and they don’t check the property history (think Shady Agent tactics), there will be no harm done (ignorance is bliss, really). Otherwise, consider yourself educated, and tell your friends we almost always have the inside track to San Francisco real estate, and we’ll make sure your ass is covered.

-[Editor’s Note: One Stalecade is equal to one property that has been on the market 100 days or more. Stalefish + Decade = Stalecade. Therefore, a property on the market over 200 days has survived two Stalecades…a stretch in terms, but we’re running with it.]

Stalefish: San Francisco’s New Delicacy

About once a month, on sfnewsletter, we put out our list of Stalefish Properties for our readers’ delight. Today, we thought we’d share that same list with you, and highlight some of the Stalefish swimming in that Stale Pond.

175 Bright…future not so bright. It is a short sale (possibly the reason it still shows as active) and has spent a meager 291 days on the market. Maybe it’s because it shows “0 bedrooms, 0 baths”. That could be an issue.
175bright

So you’ve heard of the “Little Engine That Could”, but what about the Little $6Million Firehouse That Can’t Sell? We have one of those in our Stale Pond too:
firehouse

Fans of Kirkwood Ski Resort? Well set this Stalefish free and live at 1526 Kirkwood St. in San Francisco…only 322 days on market:
kirkwood

Take your pick at the Ritz, where for a mere $5.4Million you can get an unfinished slice of pie in the sky.
ritz
Not a fan of the raw, un-finished Stalefish swimming in the Ritz pond? Fear not, there are plenty of fully cooked units to choose from.

Remember that ultra slick, sleek, can’t do no wrong building called the Brannan? Well, you can get this Stalefish for $1.4M (down from $1.8M), but beware…we see a ghost (likely just an agent skimping on photographer expenses) in that glass!
brannan

So what’s the moral of this Stalefish story. Although San Francisco’s Stalefish pond is filling up with properties, there are still many tasty treats to be had and buyers have bargaining chips on their side, so don’t be shy…jump in the Stale Pond with both feet and see what you can find swimming on the bottom!

[Editor’s Note: What is a Stalefish? A property that has been on the market 100+ days (give or take). Nothing more, nothing less.]

Out Of The (Stalefish) Pond And Into The File

When the bottom falls, it falls hard. By way of unplugged Flujster, we learn our new favorite house becomes our new favorite comp. Three thirteen Duncan, a stunningly remodeled contemporary 5 bed, 5.5 bath home in Noe Valley closes escrow for a reported $2,400,000…down slightly from the original $2,850,000 asking price.
313duncan1

Looking on the bright side (for the developer), it only spent 72 days swimming in the Stalefish pond. [In order to reach Stalefish status a property must be on the market 100 days, 313 Duncan was on the market 172 days, so time spent in the pond…72. Prior to that it was just another listing.]

We’ll file this one under Done Deals that make us jealous. Congrats to the new buyers. We make a killer margarita, so don’t be shy.

313 Duncan…5 bed, 5.5 Bath, closed at $2.4M [MLS]

You Changed Your DOM But Were Never BOM, 4148 23rd St Returns

You know that feeling you get when you meet someone and you just know you’ve seen them before, but you just can’t figure out where? Well, fortunately for us folks in the biz of real estate, we have this little feature called “property history” that is becoming all too necessary to check religiously. As it turns out, we have seen 4148 23rd St (4 bed, 2.5 bath, Renovated Noe Valley Edwardian) before.

414823rdfront

We saw her first in 1998 when she sold for $435,000. Then we saw her again (with a face-lift) in April of 2008 for $1,799,000 when she was on the market for 140 days and pulled off the market in August. She resurfaced (very briefly) in December of 2008 with the same look, only different price ($1,599,000 or 11% less than before) and a fresh new DOM (days on market) of zero. Come to think of it, we never did see her BOM (back on market).

414823rdbath

Now we see her again in January 2009 with the same price, but new DOM, and still no BOM. This can only mean she never did find a suitor. So why the new DOM? It’s a trick we agents play, and the public is on to us.

We knew we saw her before, and it almost slipped passed us. Now we’re left to wonder what she’ll look like when we see her again…SOLD, BOM, or with yet another new DOM?

4148 23rd St, $1,599,000 [listing detail page by sfnewsletter]
Resetting DOM, Buyers Speak Up, ABC News Nightline Is Listening [theFrontSteps]