QuickLinks: Six As The Magic Number

Sign(s) Of The Times

Sign(s) Of The Times

Tipped by a loyal reader of SocketSite, we dispatched our staff photographer to 308 Presidio post-haste. No fewer than seven “For Sale” signs (there’s another behind the car) that all seem to be screaming “please buy me before the market turns” in unison. Not too surprising that the units... Read More »

Forget $340M Powerball, Just Give Us A Damn Condo!

Forget $340M Powerball, Just Give Us A Damn Condo!

4,300 applicants, 400 drawn names, and only 20 lucky “winners”. Residents in other cities dream of winning multi-million dollar lotteries, while here in San Francisco we dream about winning the right to purchase a 600 square foot condo in the Beacon for a measly $172k. The fine print: “applicants... Read More »

Median San Francisco Bay Area Home Prices Down $20k

According to the California Association of Realtors, the Median sales price of a San Francisco Bay Area home fell 2.8% last month (from $730k in August, to $710k in September). In addition, sales volume was down nearly 10% from the previous month and down over 8% year-over-year (yes, accounting... Read More »

Potential Home (Depot) Wreckers

The Board of Supervisors is considering an appeal of the Planning Commissions approval for Home Depot’s Bayview project. Specifically, the supervisors were charged with looking at whether the project’s environmental impact report — accepted by the Planning Commission — was accurate, objective and complete. Paul Maltzer, the Planning Department’s... Read More »

Sweet Lime Green Victorians (Literally)

Sweet Lime Green Victorians (Literally)

Okay, we know we’re pushing the boundaries a bit with regard to “real estate” news, but it’s worth it to report that artist Elizabeth Hickok has created a scale-model of San Francisco. Out of Jell-O. And as if the pictures weren’t sweet enough (so to speak), she has also... Read More »

POS (And We’re Not Talking Point Of Sale)

POS (And We’re Not Talking Point Of Sale)

Marinite’s nano-puiblishing empire has expanded beyond the Marin Real Estate Bubble (which has been going strong since July). The newly added site, Marin PoS is billed as profiling “typical examples of our overpriced, crappy houses here in Marin”. For example: This lovely 1 bedroom 1 bath 788 sqft pos... Read More »

When Barrack Speaks, You Should Listen

Some choice quotes from Tom Barrack, head of Barrack’s Colony Capital (one of the largest private equity firms devoted to real estate and having provided returns of 21 percent annually since 1990): “I feel totally safe playing polo on a field full of pros,” says the bronzed 58-year old.... Read More »

A Million Here, A Million There

Two months ago we reported on Yahoo’s Letter of Intent to lease 200,000 square feet of prime San Francisco real estate. It now appears that they’re looking for “as much as a million square feet of new office space in the Bay Area to accommodate its rapid expansion.” Enough... Read More »

Open Meeting: Mid-Market Redevelopment

The Redevelopment Agency Board will review the redevelopment plan for the mid-Market area this afternoon at 4 p.m. The meeting is in Room 416 of City Hall. Pro: 3,000 new housing units and an arts district; con: displaced low-income residents. ∙ Mid-Market Non-News ∙ Mid-Market Development “Breaking” News... Read More »

We’re Moving On Up!

According to a Global Insight study, the San Francisco real estate market is overvalued by approximately 36% (up from 30% at the beginning of the year). As such, San Francisco is considered to be “extremely overvalued”. What’s that mean? “Study findings indicate that 53 metropolitan areas, representing 31 percent... Read More »

Bay Area Inventories Up, Agent’s Spirits Down

This should come as no surprise to any regular SocketSite readers, but if you haven’t been reading or are new to our community here’s a bit of insight: inventories are up, transactions and selling prices are down, and Bay Area real estate agents are actually having to sell. Some... Read More »

Forget Staging, It’s Now About Posing

An instant classic! A reader forwards an email they recieved promoting a friend-of-a-friends open house this weekend. The classic excerpt: “I have an open house this Sunday from 2-4 and would greatly appreciate if you stopped by and simply pretend to be interested buyers.” Brilliant. And yes, we have... Read More »

Flippers (Not Strippers) Gone Wild

What happens when a venture capitalist and Wall Street executive get together to buy a Broadway producer’s house in the Hamptons for $14 million? According to the Wall Street Journal, they redo the landscaping, wait four months, and then re-list the property for $25 million. That’s $11m in four... Read More »

You Can Relist, But You Can’t Hide

It’s a dirty little secret of the real estate trade: relist (or in this case, change agents) in order to obscure a dramatic price reduction for a property. And it probably worked a lot better before SocketSite (and our readers) joined in the fun. From a reader’s tip: “240... Read More »