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Provided by:
Alexander Clark
Zephyr Real Estate
License# 01339386
2523 California
San Francisco, CA 94123
sfnewsletter.com
phone:415-254-5351
fax:415-277-3914
alexclark@gmail.com
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The market knowledge I bring to you on sfnewsletter comes from representing buyers and sellers in San Francisco real estate transactions. I also know about many off market single family homes and condos throughout the city that are for sale, but not listed on MLS.
If you, or anyone you know, are considering purchasing or selling a home/condo/multi-unit in San Francisco, please do not hesitate to contact me.
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**NEW**
Complete access to MLS
This is the most access to MLS you'll get. You can search properties, get status updates on specific properties you might be tracking (price reductions, active to pending, pending to sold, etc.), view open houses, save searches, and more. This, along with the simple reports I provide, is your ticket to market wisdom, and ultimately finding or selling your home!
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On my iPod
Song: Banned in DC
Artist: Bad Brains
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Introduction
Hello and welcome to the new readers of sfnewsletter! Please continue spreading the love by forwarding to friends and better yet, calling me when you or your friends are looking to buy or sell real estate in San Francisco. You think I write this thing just for kicks? (Okay, maybe I do.)
As a reminder, I'm asked all the time to find out what a property sold for, and that is exactly why I began the "sold properties report" years ago. If you're curious about a recent sale near you, keep an eye on that report. You can find a link to the report in the left hand column of this newsletter.
Market Update
Charts, Data, Trends
So here I am three weeks since the last newsletter, and only slightly wiser as to where the market is headed or what exactly is going on. In my world, it's busy. Busy as hell. I have tons of clients both buying and either selling, or looking to sell some San Francisco real estate. At the same time I have colleagues praying for a deal to come together, and thinking that bartending isn't such a bad gig after all.
In years past, I've always been able to tell you what the market is doing in just a few sentences, not so anymore. The market has definitely picked up since February, but is still way down from recent history. Some properties are seeing more price reductions than buyers through the door, but at the same time there are many still receiving multiple offers. I've been helping some clients find a home in the Midtown Terrace area and the last three homes we bid on were competitive situations with more than one offer on the table. These homes are all sub-$800,000.
I've been helping another client look for a home in the $500,000 range and all of the homes we've found have been incredibly competitive, also with multiple offers.
My clients in the $1,000,000 plus range are simply taking their time and see no hurry in jumping in. They know prices are coming down and will likely continue to do so as those wealthy people that have been hit by layoffs and financial hardship get more and more desperate to sell, or simply walk away from their homes. Not to mention interest rates creeping up are making those million dollar loans that much more expensive.
I am getting more and more requests from buying clients to see Short Sale and Foreclosure properties. Those types of homes seem to be popping on the market at a much more rapid rate and they're anything but easy to find out the scoop on and pursue.
So what about the sellers I work with? We're still holding out for higher prices, but I really don't see that happening. The listing presentations I've been on lately are anything but easy for me to break the news to them that even though a home or condo in their area may have sold for X two months ago, they'd likely have to think about selling for even less than that. It's not easy. All of the things that help a property's value (views, parking, upgrades) still help, but the things that at one time didn't hurt so much (parking), hurt much more now.
All-in-all if you're a buyer looking for a condo in SOMA, you are so far in the driver's seat it is not even funny. You have the power to get the deal of a lifetime. New developments are offering incentives, making deals, and dying to get their inventory sold. If you've had your eye on a tower downtown, give me a shout, and we'll get you in there for a smokin' deal.
If you are a buyer in certain bread and butter parts of San Francisco, it's still not easy for you and very competitive, and if you're coming to the table with cash...you are king.
Sellers, it's a new market. Time to adjust the way you think about selling your home, consider a price reduction, and treat any offer you get like it is the most precious thing on the planet and nurture it into a successful sale.
Git Er Done!
I have some great properties that we need to get sold and my sellers are ready for you or your friends to make an offer. If you, or anybody you know, are interested in any of the properties below, give me a shout. They're ready to move.
207 9th Ave, $749,000 Single Family Home in the Inner Richmond: This home is ready for your personal touch and great for anyone that wants to live in a great area and chooses not to drive a car or maintain a yard. ;-) We call that a "condo alternative". Period details abound and the potential is tremendous. Give me a shout if you'd like more details.
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200 Townsend #47, $679,000: This SOMA loft/condo was one of the original developments down by the ball park, has soaring ceilings, tons of natural light, wood floors, granite, stainless, washer/dryer, and all the modern amenities you might want. Location is top notch and seller is ready to sell.
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2185 Bush #307, $899,000 Top Floor Lower Pacific Heights 2-level condo: If you've been looking for a Pacific Heights condominium to call your own, take a look a little further to the south and come on over to Lower Pacific Heights. This condo has everything you could need (views, parking, updated kitchen/baths, patio, balcony), and a location that I would argue is better than most Pacific Heights condos. Steps from Kabuki Theatre, Japan Town, Fillmore, public transportation, and so much more. The unit is on the top, has a quiet garden patio, gets tons of natural light, and is also very ready to be sold.
Spread the word and spread the love! Help me get these listings sold. You'll be guaranteed a seat in Heaven.
SFHotspots
The hotspot this weekend surely doesn't look like it's going to be in the city, so get thee to the Santa Rosa Harmony Festival! The lineup of musicians is pretty sweet, but all you need to know is that the Bad Brains, and Dead Kennedys will be there. (I saw Bad Brains in a tiny club in Vienna, Austria in 1993, but that's beside the point).
If drinking beer, smoking (uhhh), dancing amongst sweaty bodies, and listening to good music are not necessarily your thing and you'd like to see the fittest of all athletes, the Escape from Alcatraz Triathlon is also going on this weekend, so get there early and watch the fit souls emerge from the bay after their punishing swim from a barge off of Alcatraz Island.....CRAZY!!!!!!
Thoughts
Surf or golf? Hmmmm......
Happy Aloha Friday!
The sfnewsletter team
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