From Kenny, in the comments: “WOW. This one [3299 Folsom in Bernal Heights] just sold [for $1,255,000]: Six offers. 260K over asking. 850 a foot. On Folsom! This is a neighbor of mine. I’m very fired up about this one.” I think your other neighbors are pretty fired up too. And for the “traders” wondering … Continue reading “Six offers, $260,000 over” (3299 Folsom)
Tag: theFrontSteps
Done Deal in the Marina and only $395,000 over (2330 Bay)
Our readers have come up with some good finds this last week, and thankfully I have some time to post them, so you can pick your jaw up off the ground along with the rest of us: Take a look at this. [2330 Bay] Closed in 21 days for almost $400,000 more [asking $2,495,000 selling … Continue reading Done Deal in the Marina and only $395,000 over (2330 Bay)
Comment du Jour: “Highest stakes table in Vegas”
I chose this comment for the “Comment du Jour”, as it is a very good, brief description of the mindset of many buyers currently in the market. Thanks “Ah Boom”, and thanks to all the others that have responded and shared their thoughts on that thread. You put your life savings down [on a home … Continue reading Comment du Jour: “Highest stakes table in Vegas”
Countrywide Short Sales, Pools, and Dark Clouds
I’ve been told a big wig at Countrywide has been forced to sell his home in Gilbert, AZ (Phoenix), for $700,000 600,000. (Oops…already pending at $700,000 with multiple offers after one week.) Apparently recent comps support a $900,000+ purchase price. So you see? It’s all about finding the silver lining in an otherwise dark cloud. … Continue reading Countrywide Short Sales, Pools, and Dark Clouds
TICs fetching the same price as condos?
I’m going to hope the Stammtisch comes through with a quick response to this reader’s question, as I am totally swamped right now. If they don’t I’ll get to your answer this weekend. Thanks for writing in. In Andy Sirkin’s famous online article on condo conversion in SF, the graph seems to suggest that vacant … Continue reading TICs fetching the same price as condos?
Just “Wondering”
A reader kindly asks about 2746 Gough #1 in Cow Hollow, and 120 Cherry in Presidio Heights, so I thought we’d give the answers. 120 Cherry is a home that hadn’t been on the market…ever, since it was built in 1923. (According to the “remarks”.) It is in Presidio Heights, is a trophy home, and … Continue reading Just “Wondering”
Stump the Stammtisch: Why do an off-market deal?
This question came to me from Sophie, a very avid reader of both theFrontSteps and the sfnewsletter. I’m hoping we can provide some insight. Dear Alex, I’m very puzzled by something that happens more often than I can understand in the SF market. Why would ANY party agree to an off-market deal? (VIP houses put … Continue reading Stump the Stammtisch: Why do an off-market deal?
San Francisco Foreclosures UP!!!!!
Yup, it’s true. Foreclosures in San Francisco are up from a whopping 62 63 notices in 2006 to 65 in 2007, or 3%. Dave, it looks like you were one of a very few to get your hands on a foreclosure in San Francisco. Hats off to you. We anxiously await the story. As always, … Continue reading San Francisco Foreclosures UP!!!!!
Bay Area sales volume down 9.8%, median price up 6.9%
“In the Bay Area, the [California Association of Realtors] said sales volume was down 9.8 percent from last year, while the median price was $841,660, up 6.9 percent from $787,540 last July.” –Home sales still weak in California and throughout the country [sfgate]
Hotel Luxury Condo’s Hold Their Value
by Janet Krahling Take a look at this comparison: Downtown Hotel Luxury Condos (St. Regis and Four Seasons Residences re-sales) vs. Pacific Heights Condos ($1m+ sales). This chart compares average price per square foot in 2006 vs. average price per square foot YTD in 2007, according to MLS data. The average price per square foot … Continue reading Hotel Luxury Condo’s Hold Their Value
Battle Royale: Hayes Valley or Haight Ashbury, if you had to choose
We’ve been having lots of fun with the other Battles: Outer Richmond v. Outer Sunset and Pacific Heights v. Marina, so today we give you Hayes Valley or Haight Ashbury. The choice is yours. As always, we provide the data, and hope you provide the insight. Have fun. Sorry for the tech difficulties, it’s not … Continue reading Battle Royale: Hayes Valley or Haight Ashbury, if you had to choose
Marketplace Updated
In case you haven’t checked it out yet, I have started a little Marketplace for myself, and my colleagues to do a little promoting. I will not be posting those items here, but I will periodically be doing little posts like this to remind you all about it. It’s what puts food on the table, … Continue reading Marketplace Updated
Stump the Stammtisch: Refinancing our 3/1 ARM…
“Hello Front Steppers, We bought our SFR in 2004 and have a 3/1 ARM of $600K on a $1mil home. We can pay the newly adjusted amount without really changing our lifestyle, but we would like to refinance before the next rate adjustment in 10 months. With all that is going on in the mortgage … Continue reading Stump the Stammtisch: Refinancing our 3/1 ARM…
What’s going on in the mortgage industry
by Miles Grant WHAT’S GOING ON IN THE MORTGAGE INDUSTRY? I have been getting calls from Realtors and principles asking if we are still going to be able to fund loans, and other questions. Following is a list of questions and answers. What is going on? Most lenders sell to Wall Street and Wall Street … Continue reading What’s going on in the mortgage industry
comment du jour: 520 Clipper and being “green”
We get such a kick out of some of the comments that go un-noticed, we thought we’d grab a few from time to time. Today’s “quote du jour” comes from Joe Schmoe on “Go Green” regarding the Lorax Development Clipper House. Important to note before you see the quote, this home had features like “the … Continue reading comment du jour: 520 Clipper and being “green”
Verbatim: fewer than 1% of all residential mortgages in foreclosure
“…. There are some $10 trillion of residential mortgages outstanding in America. Only 15 percent of those are subprime mortgages, and only some 12-13 percent of those mortgages are delinquent (payment overdue for more than 30 days), with even fewer, perhaps 5-6 percent in foreclosure. That is fewer than 1 percent of all residential mortgages….” … Continue reading Verbatim: fewer than 1% of all residential mortgages in foreclosure