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Provided by:
Alexander Clark
Zephyr Real Estate
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: St. Jimmy
Artist: Green Day
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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 (within 30 days) 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
For me to be able to sit here and write that the market in San Francisco is still good is almost comical. I mean, our economy is the worst it's been in my (economically aware) lifetime, we have a monkey for a President, the world hates us (Americans), the price of oil reached an all-time(?) high, the national housing market is absolutely in the toilet, I cry when I think of my Arizona rental properties, Google is destroying Yahoo on innovation, Twitter is getting annoyingly more and more popular (and addictive), Facebook chews up at least an hour of my day everyday, and the damn U.S. Women's gymnastics team didn't take gold! There is no good news out there! Why, then, do people continue to buy homes in San Francisco?
People buy San Francisco real estate, because this is a world-class city, with a strong local economy, and until they (the Supervisors) allow Mr. Developer to build a 10 story building in place of that three story tear down filled with protected tenants in the Haight without penalty, we'll have no other choice (except in SOMA) than to pick from the current relatively small stock of available properties. Oh, and you'll have to do something about this temperate climate and our proximity to wine country, beach, skiing, our excellent shops and restaurants, and that annoying little body of water that surrounds us on three sides.
-A quick glance at MLS sales 2007 versus 2008:
Total units sold August 2007 (SFR, Condo, 5+ units, 2-4 Units) = 557
Total units sold August 2008 (SFR, Condo, 5+ units, 2-4 Units) = 415
Median Single Family Residence sales price 2007 = $915,000
Median Single Family Residence sales price 2008 = $847,500
Condominium median down from $725,000 (2007) to $720,000 (2008)
The San Francisco Residential Real Estate market is holding up quite nicely given the circumstances.
[A little side-note about the post Labor Day listing push we usually see. A day or two ago I checked MLS and there was one new listing for the day. Today there are already 165.]
Maximum Overbid(TM) of the Week**
Proof that when they are good, they still go. Two hundred Brannan #110, a two bed, two bath loft South of Market hit the block on July 24th for $1,279,000, and just closed escrow on September 2nd for $1,314,000, or 2.74% over asking.
A "Maximum" overbid? No. A decent sale in a "down" market? Most definitely.
Comparison Shopping
In case you wonder (like I always do) what your hard earned cash would buy you in another market, like San Diego for example, wonder no more. Their market is supposed to really have taken a hit right? So why not go shopping. And look what I found!
Five bedrooms, six baths, 4,444 square feet..and a pool! It will only take you somewhere around $1,300,000 to get it (so they're asking), but I bet you could get it for less. I know I would, and the first thing I'd do is install a high-dive to do some of these.
SF Pocket Listings
I used to do this little list of off market homes all the time, but time has often escaped me. There are other Realtors copying me now too, so the attraction faded a bit, but I'm going to try to bring it back.
Today, I can tell you of a home that is coming soon, and this is straight from the agents mouth:
Remodeled Miraloma Park/Sunnyside listing coming out in about a week. The property is almost the sort that is all things to all people. Three levels. Three bedrooms (one a master with a view/sun deck) two baths on the top floor, open floor plan main floor, enormous family room, office, and a fourth bedroom downstairs. The downstairs is awash in light and windows, with huge 14 foot ceilings, so it isn't basement like at all. There's a big deck and huge usable yard that feels like suburban SoCal because the vacant lot next door and neighbor's are so large. South/southeast exposure. Light everywhere. Bay shot, Mt. San Bruno, really leafy and tranquil. It's a great family house and I tend to gush over it because literally you walk in there, and you feel good. We're pricing it at $1.195M and it's 2500 feet, so under 480 a foot. One car garage, interior access. I'm hoping it is the best sub $1.2M house in the city. As of right now it would be.
As the real estate season kicks into high gear, I'm sure I'll get more of these in my inbox, so I'll be sure to bring them to you as well. And of course, if you need help securing one, don't hesitate to call.
Tour de San Francisco (real estate)
You thought the Tour de San Francisco (real estate) had died, didn't you? Nonsense! I will finish it. Today, I take you through the streets of District 5g, Corona Heights. I invite you to check it out, tell your friends, and add your $.02.
SFhotspots
 I like to take care of my readers, so if you or anyone you know has a San Francisco business you'd like to promote on sfnewsletter, just send it my way. (Kind words included always helps.)
Reading your newsletter is one of the treats I look forward to each Friday. Thank you for doing this. Looks like a lot of work. I have been passing on your newsletter to friends even those in Toronto, Canada!
Here is a business that would love to get a plug on your site, Worldware (www.worldwaresf.com). The principles at Worldware are Norman Kown and Lee Duren. Worldware is nestled in the heart of San Francisco's cultural and performing arts district. Worldware features custom-crafted furniture, exotic lighting, luxurious bedding and exquisite accessories from around the world. Worldware's interior design staff is on hand to help you make the perfect selection for your home, and can help you transform your house into the home of your dreams. Worldware's 5,000 square foot showroom is located at 301 Fell Street (@ Gough) and is open 6 days a week, Tuesday through Saturday from 10:00am to 6:00pm and Sunday from Noon to 5:00pm. You should stop by for a visit. Norman and Lee would love to show you around their showroom.
I'll try to stop by (after getting my Blue Bottle Coffee around the corner on Linden), and I'll assume that invite is open to any sfnewsletter readers too.
Thoughts
How's that for my first sfnewsletter written entirely on a Mac? Of course I had to install frickin Windows to get MLS to work, but hey!
Happy Aloha Friday!
The sfnewsletter team
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