On the issue of the securitized mortgages, Buffett said one can make more money “selling toxic waste to customers,” but that doesn’t mean it’s a good idea. “Wall Street started believing its own PR on this – they started holding this stuff themselves, maybe because they couldn’t sell it. It worked wonderfully until it didn’t … Continue reading In His Own Words: Warren Buffett and the Mortgage Crisis
Tag: theFrontSteps
Stats & Numbers: Single Family Homes (Nov ’06-Nov ’07)
From Garrett: Single-Family Homes District 1 Nov-06 Nov-07 Number of Sales 13 22 Median Selling Price 899,000 1,260,000 Average DOM 30 35 District 2 Nov-06 Nov-07 Number of Sales 39 23 Median Selling Price 775,000 839,300 Average DOM 33 28 District 3 Nov-06 Nov-07 Number of Sales 23 15 Median Selling Price 690,000 680,000 Average … Continue reading Stats & Numbers: Single Family Homes (Nov ’06-Nov ’07)
Reason We Live Here #11
Because guys like this can be your friends and clients. Ryan Seelbach, absolutely charging at Maverick’s, and bringing it home for San Francisco! To gain some perspective on the magnitude of this photo and wave, Ryan is 6’6″…Break out your rulers and calculate that wave height for a second. Or go outside and find the … Continue reading Reason We Live Here #11
Nothing’s Changed but the Price, Oh, and the Type
The history of 465 Hoffman looks something like this: Sold 03/08/2007—$1,150,000— 18.2%/yr (appreciation) 07/21/2006 —$1,035,000— 9.7%/yr 04/15/2004 —$840,000 …as a single family. The plans look something like this: …as an “Ultra-Modern designed legal 2 unit,also marketable as a magnificent 4 BR/3 bath,VIEW,single family home.” The views still look like this: …but now the price looks … Continue reading Nothing’s Changed but the Price, Oh, and the Type
Walkabout: Remodeled Victorian in the Ave’s and only $849,900!
Yes…it’s true, but you have to go to one of the countries most under valued real estate markets to get it, Salt Lake City. (We’re referring to the recent Forbes.com article on the best and worst housing markets in the U.S.) This is the land of Mormons (nothing against them), deep light powder, sunshine, and … Continue reading Walkabout: Remodeled Victorian in the Ave’s and only $849,900!
Cool off with “Your Mama”
Rarely, do we give such praise to any particular real estate blog, because most just think they’re so damn cool and changing the world one post at a time (guilty on occasion as charged.) We aren’t getting a damn penny for this, but sometimes when real estate seems to be dragging (you) down, and there … Continue reading Cool off with “Your Mama”
Cross Pollination: Does CAMP Get Your Vote on Curbed
From our friends at Curbed, regarding the Fisher’s proposal to develop the Presidio bowling alley site into the Contemporary Art Museum of the Presidio: “In the spirit of good fun (as always) Curbed SF has asked the inevitable question: How does the just-released design for Don Fisher’s CAMP [Contemporary Art Museum of the Presidio] measure … Continue reading Cross Pollination: Does CAMP Get Your Vote on Curbed
Suckers for Mid-Century Modern
If you want to guarantee your spot on our front page, you need only include two words (or is that three?)…Mid-Century Modern. Our reader notes that it “looks like prices might finally be coming down a bit in Marin”, but we have no way of knowing for sure as we generally don’t have our finger … Continue reading Suckers for Mid-Century Modern
So You Want to Buy a Home in San Francisco…
Now what? We are actually out “in the field” today writing offers and checking out property, but we thought it’d be nice to see what our readers can share in regards to their tips and tricks to finding, offering on, buying, and enjoying a piece of San Francisco real estate. Later today (hopefully), we will … Continue reading So You Want to Buy a Home in San Francisco…
Ask Us: Terraces at Millennium Tower?
Where readers ask, and we try to answer: Other than the penthouses, do any of the condos in the Millennium Tower have outdoor spaces, i.e. terraces/balcony? Thanks.-BD Yes, there are six homes with terraces on the third floor.The six available homes with terraces range in price from approx. $895,000 to approx. $2.7M. The other Penthouse … Continue reading Ask Us: Terraces at Millennium Tower?
Rent vs. Own: The Old Debate in a New Spreadsheet
We just found this on Submedian, which is calling itself a “San Francisco affordable housing blog”. (There is no “affordable” housing in San Francisco, but we’re moving on, and we like your stuff, so you’re on our radar.) So far this person has gone into detail about the median vs. average issue (we found this … Continue reading Rent vs. Own: The Old Debate in a New Spreadsheet
Hmmm….$354,000 Over Asking in a Down Market?
Is that correct? Let’s see, sales price $1,553,000, minus list price $1,199,000 equals $354,000. Is that right? Hmmm. Day offer received 9/28/07 minus list date 9/12/07 equals 16 days on the market. Is that right? It can’t be. We just said volume is down 41%. Ohhhh. We get it. We’re just being led astray that … Continue reading Hmmm….$354,000 Over Asking in a Down Market?
Headlines versus Reality, Volume Down, Median Up…again.
Headlines: “Bay Area median prices rise, but overall home sales news grim. Reality: “As Homeowners, Volume is not Very Relevant. For what it’s worth, we’re happy to see our little report was right on the money as far as the decline in volume at around 41%. Guess we’re not so mathematically challenged after all. And … Continue reading Headlines versus Reality, Volume Down, Median Up…again.
Stats & Numbers: Condo Sales 10/06-10/07
From Garrett: Condominiums District 1 Oct-06 Oct-07 Number of Sales 15 7 Median Selling Price 701,000 779,000 Average DOM 33 25 District 2 Oct-06 Oct-07 Number of Sales 0 2 Median Selling Price 752,500 Average DOM 27 District 3 Oct-06 Oct-07 Number of Sales 3 0 Median Selling Price 595,000 Average DOM 22 District 4 … Continue reading Stats & Numbers: Condo Sales 10/06-10/07
Comment du Jour: “As Homeowners Volume is Not Very Relevant”
Sometimes we beat our heads against the wall to come up with a way, in a paragraph or less, to describe what is going on in this market. We show the highs, and we show the lows. Today, we pull from our previous post about the 41% dip in volume at the $500-700,000 price range, … Continue reading Comment du Jour: “As Homeowners Volume is Not Very Relevant”
What’s going on: $500,000-$700,000
We hear a lot of talk, and get a lot of heat about always using “high end” bits of anecdotal sales information, and always cheering the market on. All of which we’ve taken into consideration. So…we did a little searching. Since 10/31/2007, according to MLS 85 homes throughout the entire city (condo and single family) … Continue reading What’s going on: $500,000-$700,000