Archive for May, 2009
May 13, 2009
The Tuesday Tour was packed full of amazing homes this week. A lot of ooohing and aaahing took place as we made our way around the City. Coupled with the gorgeous weather, it was a great day to be out looking at properties.
The backyard of the week award goes to 37 Calhoun Terrace. This single family home on Telegraph Hill sits on a quiet dead-end street and overlooks the bridge, bay, and skyline. It might as well get view of the week while we’re at it. It’s hard to believe there are any single family homes on Telegraph Hill, especially one with a yard — which makes this property something special to be appreciated. The rooms at the rear of the home open up to a quiet sanctuary in the middle of the City, complete with a brick patio partially shaded by lush green vegetation and vibrant flowers. Truly a delight!
A yard? In Telegraph Hill? No way!
The master suite of the week award goes to 465 Hoffman. This home is truly extraordinary and won 1 of 3 five-star awards we gave out this week. Located in Noe Valley, the 4 bedroom, 4.5 bath home had a little bit of everything and a nice wow-factor. The master bath looks a little cold and uninviting in the photo below, but we assure you it takes on a different feel in person– which just goes to show you really can’t count on photos when you’re searching for homes.
The master bath off the master bedroom at 465 Hoffman.
Now, how about those rankings? We’ve selected our faves and split them into 4 and 5-star ratings below. 3′s, 2′s, 1′s, and zero’s are not shown since we are focusing solely on “Show-Stoppers”. You may click the bold address for additional details/photos on any property. Bear in mind we are not judging prices, but rather, what we feel to be nice homes in solid locations.
Continue reading to see the rankings of the week –>
Have no idea what Tuesday Tour Show-Stoppers is all about? Click HERE.
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Posted in Show-Stoppers, Tips | Tagged amazing homes, beautiful properties, brokers tour, expensive homes, homes for sale, remarkable residences, san francisco, san francisco real estate, tuesday tour | 2 Comments »
May 13, 2009
It could happen, and soon. According to an article published at HousingWire.com, the FHA (Federal Housing Administration) may soon allow first-time home buyers who qualify for the quickly-growing-in-popularity government-backed FHA loans, access to their $8,000 tax credit at the closing table so that they can apply it towards a down payment. An official announcement was not to be made until next week, but the information was made public at a NAR summit this morning.
To read the full article, click HERE. For more info on first-time home buyer benefits, click HERE.
More good news for first time buyers...
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Posted in Home Buying, News, Tips | Tagged 8000 tax credit, federal housing administration, fha, first time buyer, san francisco, san francisco real estate, tax incentive | Leave a Comment »
May 11, 2009
Most of us are familiar with the panache associated with District 7. After all, the district is home to Pacific Heights, Presidio Heights, the Marina, and Cow Hollow. Just for fun, we ran a search for active listings in the district that are under $700,000. We found 10 one bedroom and 3 studio condominiums.
Want a Golden Gate view, a killer location, and parking for under $700K? Check out 2295 Vallejo #105.
Amongst the 1-bedroom condos, prices range from $449,000 to $679,000. Square footages range from 554 to 960. The newest listing? That would be 2060 Union #4, on the market for just 3 days now, bank-owned, and ~960 square feet. Seems like a good price and location… we’ll have to check it out in person to assess.
And the others? We put together a list for you below. You may click on any bold address for more property details.
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Posted in Cow Hollow, Marina, Neighborhood Info, Pacific Heights, Presidio Heights, Public Listings | Tagged 1 bedroom condos, affordable condos, Cow Hollow, district 7, homes for sale, Marina, Pacific Heights, Presidio Heights, san francisco, san francisco real estate | Leave a Comment »
May 9, 2009
There’s no better way to learn about real estate liquidity than by observing a down market. Frustrated sellers all across the nation have had to exercise extreme patience in converting their homes back into dollars. Because real estate is less liquid than other investment types, it pays to understand how you can best protect yourself. The last thing you want to do is rely on a raging hot market to make your home liquid. Ideally, you want it to be liquid no matter the market condition.
What we’ve seen take place during the downturn is stratification of San Francisco homes into three different layers. The first are homes that continue to sell at or near their asking prices no matter what the market is doing. The second layer is comprised of homes that tend to fare well during good times but take hits during bad times. These homes are highly affected by market conditions both in the prices they command and the time it takes to sell them. Most homes fall into this category. The last layer are the homes that do not sell at all during a down market, unless the owner is willing to take a massive loss.
Here are some things to keep in mind to ensure your real estate investment leans toward the liquid side of the spectrum, and some bullets on what NOT to do:
- The best way to have an illiquid real estate investment is to buy something there are hundreds of (or will be hundreds of). There is little to no differentiation in these types of properties and they are an extremely tough sell during down times. The only time these properties sell and do well is when the market is roaring… and counting on that to take place is quite the gamble, particularly if developers are building similar homes nearby (which they will in a roaring market). The smarter approach is to invest in a property that is unique, even one of a kind, but is not too eccentric. There is a big difference between uniqueness (think charm & character) versus eccentric. We’re not referring to decor here, we’re referring to the actual structure. Decor is easily changed if you need to sell. What can’t be changed, however, is the fact that you bought a home that looks like a pirate ship and will appeal to a tiny market segment of equally eccentric people.
Ok, so maybe we're huge fans... but still!
For more tips, keep reading –>
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Posted in Appraisal 101, Home Buying, Tips | Tagged Appraisal 101, buyer tips, illiquid real estate, incurable features, real estate investment, san francisco, san francisco real estate, smart real estate investing, Tips | Leave a Comment »
May 8, 2009
Stocks, bonds, and blue chips… yep, we’re in a banker’s mood today. Chock full of skyscrapers, starched shirts, and pin-striped suits, the Financial District might not be for everyone, but you can’t argue with its location. Close to the Embarcadero, the Ferry Building, North Beach, SOMA, Nob Hill and Chinatown, the location offers a lot to its dwellers.
Aerial of the Financial District
Cable cars, trolleys, and ferries usher you around and getting a cab is a piece of cake (well, except for Friday afternoons). Sewer steam pours from manhole covers and streets become narrow corridors lined with 50-story skyscrapers, giving it a miniature NYC feel (except the inhabitants are waaaay more laid back). That’s why we’ve compiled a list of the top 5 priciest condos for sale in the Financial District. Ready for the tour? Let’s do this, and click on the address for more details about a particular property:
Number 5 on the Countdown:
550 Davis #24. This 3 bedroom, 2.5 bath condo at Golden Gateway Commons was built in 1980 and boasts ~2,395 square feet. The remodeled unit features 9 foot ceilings, a patio, and skylights. It is listed at $2,495,000 and has been on the market for 8 days. This puts it at $1,041 per square foot.
Golden Gateway Commons
To continue the countdown, keep reading –>
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Posted in Countdowns & Rankings, Financial District, Neighborhood Info, Public Listings, Tips | Tagged expensive condos, financial district, golden gateway commons, homes for sale, luxury condos, montgomery washington tower, ritz carlton, san francisco, san francisco real estate | Leave a Comment »
May 7, 2009
Attention statistic addicts: We’ve got some numbers here that will update you on the current state of the market.
How close are we to 1/2 price?
Here is our method:
First we isolated the month of April in our analysis and ran median sales prices for single family homes as well as condominiums dating back to 1995. Next, we inflation adjusted the medians so that we could control for the changing value of the dollar over time. Last, we plotted the points on a chart to come up with a trend. The numbers represent the San Francisco resale market and here’s what we found: Read the rest of this entry ?
Posted in Macro-Level Info, Nerdy RE Analysis | Tagged april 2009, home prices, home values, market analysis, median sales prices, san francisco, san francisco real estate, trends | Leave a Comment »
May 6, 2009
What is a pocket listing? A pocket listing is a home that is not being advertised to the general public through the MLS or a listing that will come on the market in the future but right now is still a secret. Many homes in San Francisco sell while off the open market, so pocket listing culture is a big deal. Every week, we’ll be sharing info about pocket listings that we know about. Information on pocket listings is sparse and secretive, so pardon us if we seem short on details for the purposes of our blog. If you are interested in learning more, you can click HERE to contact us. Without further ado, here are this week’s pocket listings:
- Out of our pocket and over to you
To see this week’s pocket listings, continue reading –>
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Posted in Pocket Listings, Tips | Tagged homes for sale, off market listings, Pocket Listings, private listings, san francisco, san francisco real estate | Leave a Comment »
May 6, 2009
Greetings and welcome once again to Tuesday Tour Show-Stoppers. Staying dry was the challenge du jour on the Tuesday Tour. Rainy weather made things a little more difficult than usual, as most homes had a “shoes off” or “surgeon-booties on” policy at the front door. And there certainly were some interesting homes out there this week.
First and foremost was the $10,000,000 Tudor style mansion at Divisdero and Pacific. Being in this house was like blending a trip to a museum with a tour of Count Dracula’s hideaway. It was quite an experience, and despite its eccentric flavors and decor, we just couldn’t resist giving it four stars.
2500 Divisadero
Next, we stopped by Big Pink on Presidio Terrace. Let’s just say that the exterior wasn’t the only thing pink in this place. Pink granite tiles covered much of the lower living area and a pink bathroom accentuated the first floor. We were seeing flamingos by the time we left the $8.9 million pink pad.
23 Presidio Terrace
We thought the backyard of the week award was going to go to 1028 Lombard Street, that is until we saw the backyard at 3525 Pacific. This home truly had one of the most spectacular yard settings we’ve seen. If only it weren’t raining we could have experienced the park-like setting in all its glory.
3525 Pacific wins backyard of the week (warning- photo does not do justice)
Speaking of 1028 Lombard, it’s tough to imagine living on the curvy block, what with the mobs of tourists and all. But this place was truly amazing and our expectations were far exceeded. If you’re looking in the $3M range in Russian Hill, make this a stop.
View of the week definitely goes to Read the rest of this entry ?
Posted in Show-Stoppers, Tips | Tagged amazing homes, homes for sale, mansions, san francisco, san francisco real estate | Leave a Comment »
May 4, 2009
Now, we’re not the typical schmucks who run around saying “It’s a great time to buy!” no matter who we’re talking to and no matter the market condition. Each person has a unique set of circumstances and what makes sense for one person might not make sense for another.
BUT, there are some distinct advantages for being a first time buyer at this point in time. “First time buyer” in most circles (including the IRS) means you have not owned real estate within the past 3 years. We’ve put together a list of reasons why the time could be ripe if you’re looking to get into the market.
Take it from a trustworthy salesman... It's a GREAT time to be a first time buyer!! Call now!!
- Lots to choose from. Today’s market conditions present buyers with more options than they have had in the past. Buyers are able to be pickier and do not have to worry so much about competing offers.
- Speaking of competing offers, Due Diligence is back in vogue! Oh yes, with fewer offers being made and less competition amongst buyers in the marketplace, you can now get by with actually performing your inspections. In the days where every seller got 10 offers, they would choose the one with the least number of contingencies and the best price. That meant if you had inspections written into your offer they could cast it aside into the pile of “loser” offers, unless of course your price was unbeatable. But then, that probably meant you were overpaying!
- Speaking of overpaying, today’s low prices and low sales volume mean that many sellers are backed into a corner and you can scoop up a bargain. This limits your risk of overpaying.
- Speaking of buying low, because you’re a first time home buyer, you can buy low without also having to sell low. This point probably needs no further elaboration.
- All cash buyers won’t knock you out of your dream home as often as they used to. This goes back to less competition in the marketplace. It used to be that an “all cash buyer” had a leg up on anyone else and their offer would get accepted above and beyond plain old regular folks’. Although this tendency remains, there is less competition in the market meaning that the likelihood of an all cash buyer swooping in on your new pad is fairly low. Read the rest of this entry ?
Posted in Tips, Home Buying, Countdowns & Rankings | Tagged san francisco, san francisco real estate, real estate trends, first time buyer, tax credits, 8000 tax credit, 2009 trends, shamwow | Leave a Comment »
May 1, 2009
840 Powell #702 hit the market a few days ago and after visiting this past Tuesday, we have to say it’s quite the pad for view lovers. Situated on the top floor of a notable Nob Hill building, this home has 3 bedrooms, 3.5 baths, and approximately 3,038 square feet. Located at the intersection of two cable car lines with close proximity to Union Square, the Financial District, Chinatown, and North Beach, this spot is tough to beat.
The penthouse condo has a surprisingly open floor plan for its location in an older building, and the home has nice separation between the bedrooms and the living areas. There is no shortage of windows either, which lets the city lights pour into unit from all angles.
Listed at $3,500,000, 840 Powell #702 comes with 2 car parking, a wood-burning fireplace, gorgeous coffered ceilings, a formal dining room, a sun-room, storage, all within a door-man building. Here are some pics:
For more pictures, continue reading –>
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Posted in Neighborhood Info, Nob Hill, Public Listings, Taking You Inside, Tips | Tagged 840 powell #702, amazing homes, condos, homes for sale, nob hill, san francisco, san francisco real estate, views | Leave a Comment »
May 1, 2009
One of our favorite parts of San Francisco is Telegraph Hill. Amazing views of the city skyline, the Bay, and the Bay Bridge can be seen from various vantage points. Combine that with close proximity to the Financial District, the waterfront, and culturally rich North Beach, and you’ve got all the elements for desirability. The hill is covered in greenery and is home to our city’s fabled Parrots (aren’t they really Parakeets?). Some of SF’s most important people dwell on Telegraph Hill and enjoy its park-like setting.
A beautiful condo hit the market a few months back, located at 1440 Kearny. It has seen price drop after price drop and now sits at $2,295,000. Living space sprawls out on 3 levels for a townhouse feel. The home features decks, terraces, techno gadgets, 2 car parking, views, and of course the primo location. Included are three bedrooms, two and a half baths, and approximately 2,246 square feet. Quite frankly, we can’t believe it hasn’t sold yet. It’s truly a remarkable residence and if you like the area, be sure to check this one out. Then walk down the hill, have a gelato at Washington Square, and fall back in love with North Beach.
1440 Kearny sits high on Telegraph Hill
Views abound from this residence
For more photos, continue reading –>
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Posted in Neighborhood Info, Public Listings, Taking You Inside, Telegraph Hill, Tips | Tagged 1440 kearny, amazing homes, condos, homes for sale, san francisco, san francisco real estate, telegraph hill | 1 Comment »
