Archive for October, 2009

Online Real Estate Resources

Below are links to wide variety of online resources pertinent to San Francisco real estate. Hope you find them useful.

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SOLD: 350 Roosevelt Way

I represented the buyer in the sale of 350 Roosevelt Way. Here’s a little information about this Corona Heights home with it’s dramatic view:

-Sophisticated contemporary home
-Loft-like living space / Light-filled interior
-3 Bedrooms & 2 baths
-Carrera stone counter-tops / Pristine hardwood floors
-Private master with adjoining patio
-Seperate guest level
-Two car side-by-side parking / Sunny patio and deck

Listing Price – $1,350,000
Selling Price –

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What’s New, What’s Reduced, What’s Needed

Upcoming listings:
$795,000 //Clarendon Heights/Cole Valley // Villa Terrace BR/BA: 2/1 PKG:1 Brief Description: Large condo (1400 sq.ft)with Pano Views built into the hillside between Villa and Greystone Terraces in a 5 unit Spanish Mediterranean building.Very unique space.  Owners in contract on something and want to get on the market and will show ASAP.
 
$675,000 //Haight Ashbury //Haight St BR/BA: 2/1 PKG: 1 Brief Description: Delightful condo remodeled kitchen, in-unit laundry two-storage area and bike parking. Across from Buena Vista park, this unit is a MUST see.
 
$675,000 // North Panhandle // McAllister BR/BA: 2/2 PKG: 1Brief Description: Inner courtyard condo in move-in condition at Petrini Place!
 
$549,000 //South Beach // Harrison BR/BA: 2/2 PKG: 1 Brief Description: Amazing value- 2 bed, 2 bath, in unit laundry, patio.
 
Pocket Listing:
$829,000 //Midtown Terrace // Dellbrook  BR/BA:3/2 baths PKG: 1 Brief Description: Beautifully maintained home, showing real pride of ownership. Panoramic view. Sellers leaving the outdoor hot tub-Easy to show! 
 
Price Reduction:
$799,000 Old Price: 799,000 //Eureka Valley/Castro // 4302 19th Street BR/BA:   3/1 PKG:  1Brief Description: Classic Edwardian full flat in corner building with views. Walkscore – 98!   .\\
 
$599,000 Old Price: $699,000 // Inner Mission // 1356 Utah BR/BA: 2/2 PKG: 1 Brief Description:  Chic modern condo with deeded deck and great shared garden.

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Watch for Falling McMansions….

The Wall Street Journal, October 22, 2009:

Waiting for the Next McMansion to Drop

By JAMES R. HAGERTY

Despite some tentative signs of recovery, the U.S. housing market remains vulnerable to further price drops—especially in areas where large numbers of mortgages are headed toward foreclosure over the next few years.

The Wall Street Journal’s quarterly survey of housing-market data in 28 major metro areas shows sharp drops in the number of homes listed for sale across the country. But the potential supply of homes is far larger because banks are likely to acquire significant numbers of foreclosed homes in some areas, notably Las Vegas, Atlanta, Detroit, Phoenix, Miami and other parts of Florida, and Sacramento, Calif., over the next few years.

Sales of those homes may depress prices further. By contrast, metro areas with relatively low foreclosure and mortgage-delinquency rates include Boston, Denver, Minneapolis, San Francisco, Seattle, Raleigh, N.C., and Portland, Ore., making them less vulnerable.

Read more…

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It’s Coming! And maybe to a neighborhood near you…

Upcoming listings:
$1,049,000 //   Noe Valley // Jersey BR/BA:  3/1 PKG: 1 Brief Description:   Stunning Edwardian condo with remodeled kitchen and bath on a great block.
 
$949,000 // Eureka Valley // Castro St BR/BA: 2+/2 PKG:  2 Brief Description: Beautifully renovated  Edwardian flat,  half way between the Castro and Noe Valley. Newer electrical, plumbing and roof. Lower unit in two-unit building with 2 bedrooms, plus a small bedroom/ office and 2 bathrooms. Walk score 92.
 
$815,000 // Duboce Triangle // 15th Street BR/BA: 2/1 PKG: 1 Brief Description: Upper flat in 2 unit with Formal Dining, WB fireplace, hdwd, nice redo on split bath, original kit. 1400+ sq ft. on MLS 11/6.
 
$799,000 // Westwood Park // Plymouth BR/BA: 3/1 PKG: 2 Brief Description: fully detached, gracious Mediterranean style home with original gumwood formal dining/living rooms  Full basement for expansion or storage.
 
$795,000//Outer Richmond // 37th Ave BR/BA: 3/1 plus bonus room down, Brief Description: English entry, barrel front, beautiful details, great space, 1st time on the market in over 40 yrs, needs updating.
 
$725,000 // NOPA // Turk Street BR/BA: 3/1 PKG: NO   Brief Description: Upper floor condo in a lovely restored 4 unit Edwardian building Over 1400 square feet. Large rooms with period detail throughout.  Some downtown views from bedrooms. Big shared yard.
 
$669,000 // Bernal Heights // Murray Street BR/BA: 2/2 PKG: 1 Brief Description: Fantastic top floor unit in 3 unit bldg constructed in 2006. Great natural light + skylights, stainless steel kitchen with granite, luxurious baths. Views and easy access to shared common roof deck. Easy access to all commuter routes, Muni + BART.
 
$649,000//Inner Richmond// 3rd Avenue BR/BA: 2-3/1 PKG: 1 Brief Description: Remodeled top floor flat in 3 unit TIC building.  Eligible for 2nd year in condo lottery in Jan 2010.  Hardwood floors, good light, small deck off kitchen+ shared landscaped garden, W/D in unit. Leased parking ∏ block away on Cromwell.
 
$549,000 //South Beach // Harrison BR/BA: 2/2 PKG: 1 Brief Description: Amazing value- 2 bed, 2 bath, in unit laundry, patio.
 
$519,000 //Mission Terrace // Gorman  BR/BA: 2 /1 PKG: 2 Brief Description:  40’s home in original condition, but cleaned up well for showing. H/W flrs. FDR. Fireplace. Inexpensive because it needs updating.  Bonus room down and center Patio.

Pocket Listing:
$829,000 //Midtown Terrace // Dellbrook  BR/BA:3/2 baths PKG: 1 Brief Description: Beautifully maintained home, showing real pride of ownership. Panoramic view. Sellers leaving the outdoor hot tub-Easy to show! 
 
Price Reduction:
$1,279,000 Old Price: $1,349,000 // Anza Vista // 191 Anza Vista Ave  BR/BA: 3/3 PKG: 2 Brief Description: A great alternative location for buyers who can’t afford Noe Valley or North side locations but want a big view home. Convenient to everything and at a great price with beautiful views, light and air, and floor plan! 
 
$509,000 Old Price: 545,000 // Financial District// 201 Sansome St #305 BR/BA1/1 PKG: 0 Brief Description: The Royal Insurance Building nestled between The Mandarin Oriental and Equinox Gym. Malaysian hardwoods throughout.
 

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What Style of Building Are you Living In?

San Francisco has a unique and varied architectural history, with many architectural styles and building forms represented. While this San Francisco Preservation Bulletin 18 discusses the foremost architectural periods, styles and building forms found in the City, it is not intended to be a comprehensive listing of architecture in San Francisco.

Period — Victorian (1860-1900). During this period, San Francisco’s architectural styles evolved from Mission-inspired and vernacular designs to styles of classicism and ornamentation. During the last decades of Britain’s Queen Victoria’s reign, a number of architectural styles were popularized in the United States. Loosely based on medieval prototypes, these styles are exemplified through multi-textured or multi-colored walls, asymmetrical facades and steeply pitched roofs. During this period, advances in technology resulted in the mass-production of housing materials such as doors, windows and siding, and the construction of complex shapes and elaborate detailing.

Period — Late Nineteenth and Early Twentieth Century Revivals (1890-1940). Commencing at the turn of the century and picking up steam in the 1920s, Period Revival architecture occurred amidst several great building booms. The longing for a foreign atmosphere, always a part of San Francisco culture, is exemplified during this period in which both traditional and exotic tastes found acceptance.

Period — Edwardian (1901-1910). Frequently, historic resources in San Francisco are referred to as “Edwardian,” in design and appearance. The term “Edwardian” was created to describe architecture produced in Great Britain and its colonies from 1901 to 1910, with the reign of Edward VII. Edwardian architecture encompasses a number of styles, with five main strands identified: Gothic Revival, Arts and Crafts, Neo-Georgian, Baroque Revival and the Beaux-Arts style. Interpreted in the United States and in San Francisco, the term “Edwardian” is often associated with multi-unit flats or apartment buildings constructed at the beginning of the 20th century.

Period — Modernistic (1925-1970). Beginning with the Art Deco style, the Modernistic period represented a radical departure in architectural expression. Art Deco was followed by Art Moderne, which, like its predecessor, was expressed through smooth surfaces, curved corners and the horizontality of structures. The period concludes with the International style, characterized by an absence of ornamentation and the use of rich materials, refined details and proportions.

Source:  SAN FRANCISCO PRESERVATION BULLETIN NO. 18

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How many tax reduction requests were granted by the Assessor’s Office?

Office of the Assesor-Recorder
San Francisco, CA
Monday, July 20, 2009

“Today Assessor-Recorder Phil Ting announced his office granted a temporary reduction in assessed value to 9,997 homes in San Francisco, which is allowed under state law (Proposition 8) if the current market value is lower than the assessed value. This is the first time since the mid-1990s the Assessor’s office has proactively issued widespread reductions. Despite the reductions, the total 2009 property assessment roll grew 6.98 percent from last year totaling $151.96 billion, which represents secured and unsecured real property and business personal property less exemptions.”

Read the entire report here: Assessor-Recorder Phil Ting Announces Reductions in Home Values (.pdf)

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The Latest Market Listings…and Pre-Market Listings

Upcoming listings:
$1,199,000 // Marina // 1533 Beach Street., #3 BR/BA:  2/2 PKG: 1 Brief Description:  Very large upper unit in Spanish style building with nice views of the bay.  www.1533beach.com
 
$839,000 // Glen Park // Wilder BR/BA: 2/2 PKG: 1 Brief Description: Top Floor corner condo built in 2006. Walk-out deck great light and views. Above Canyon market in the heart of Glen Park.
 
$799,000 //SOMA // 6th Street BR/BA: 2/2 PKG: 1 Brief Description:  Gigantic top floor 3 level loft with views of Twin Peaks, over 2000sqft, beautiful loft!
 
$619,000 // Miraloma Park //  Coventry Court BR/BA: 2 /1 PKG: 2 Brief Description: Clean, vacant house on quiet cul-de-sac. Yard off kitchen. New paint in and out. Hardwood floors. Room to expand down. Excellent starter home Agent: 
 

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San Francisco’s Residential Energy and Water Conservation

What You Should Know About San Francisco’s Residential Energy and Water Conservation Requirements:

File the Residential Energy Conservation Inspection Form and/or the Residential Water Conservation Form with DBI:

After the inspection by one of the above, the owner or the owner’s representative shall then file the Residential Energy Conservation Inspection Form and/or the Residential Water Conservation Form indicating the results of the inspection with Housing Inspection Services within 15 days of completing the inspection. A filing fee per Section 110, Table 1-N of the San Francisco Building Code is required.

NOTE: If you are converting your building to a condominium, DBI will perform the energy and water inspection as part of the total conversion inspection review.

Compliance:

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Simultaneous Bottom For Rates And Home Prices?

Back in May 1933, about 3.5 years after the Great Depression began, investment luminary Dean Witter said:

“Some people say they want to wait for a clearer view of the future. But when the future is clear, the present bargains will have vanished. In fact, does anyone think that today’s prices will prevail once full confidence has been restored?”

These words have particular relevance for homebuyers and owners today, about 3.25 years after home prices began crashing and eventually led to what many economists have called the Great Recession.

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