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CATEGORY ARCHIVE: Listings (for sale)

July 3, 2009

We Should All Be So Fortunate As To Have A Fireplace In Our Foyer

The listing currently notes banked owned, but we don’t think it is. And if you caught the estate sale you probably knew it was coming and might have already peeked inside.

If not, here's your chance to peruse the Edgar Mathews designed home at 2421 Pierce with gorgeous original woodwork, leaded glass and details.

∙ Listing: 2421 Pierce (6/6) - $4,950,000 [MLS]

Posted by socketadmin at 10:15 AM | Permalink | Comments (24) | (email story)

Nothing A Quart Gallon Of Paint Stripper Couldn’t Fix

For the most part it’s a nicely restored Arts and Crafts home with "updated" baths. We only wish they hadn’t painted the woodwork in the bedrooms. Okay, and that there were another one of those baths.

∙ Listing: 53 Clifford Terrace (3/1.5) - $1,825,000 [MLS]

Posted by socketadmin at 9:30 AM | Permalink | Comments (3) | (email story)

July 2, 2009

For Some Reason The Façade Just Seemed Fitting...

Like there's any way we could resist the Colonial styled facade of 120 Santa Ana Avenue leading up to a long 4th of July weekend. But don't worry, we're not there quite yet...

∙ Listing: 120 Santa Ana Avenue (5/6) - $2,995,000 [MLS]

Posted by socketadmin at 4:00 PM | Permalink | Comments (4) | (email story)

July 1, 2009

Behind The Old Carriage House Entrance Of The Mark Hopkins Mansion

Speaking of captain’s homes, if you’ve ever wandered around the area of what was once the Mark Hopkins Mansion, now home to the Mark Hopkins Hotel, and wondered what was behind a former carriage house entrance at 1030 Leavenworth, here’s your chance to see.

Built in 1907 by Captain H. Mottet after the subsequent three-day fire rather than the 1906 earthquake itself destroyed the mansion. It's been in the same family for over 30 years.

∙ Listing: 1030 Leavenworth (4/3.5) - $2,395,000 [MLS]
∙ Is The Captain’s House (300 Sea Cliff) Preparing For Another Voyage? [SocketSite]
∙ Mark Hopkins Hotel [wikipedia.org]

Posted by socketadmin at 10:00 AM | Permalink | Comments (11) | (email story)

June 30, 2009

Restored Façade, Newly Constructed Interior And Muni On The Corner

It’s a restored classic façade with a newly constructed interior and plan on 21st Street.

Close to Muni would be an understatement as the developers traded a new J-Church sidewalk stop, fence and retaining wall in exchange for a new easement agreement to allow access to a parking garage.

And for once it really is a condo that would live like a house with the other three totally new construction units in the association next door.

∙ Listing: 3567 21 Street (3/2.5) - $1,895,000 [MLS] [luxury21st.com]

Posted by socketadmin at 1:00 PM | Permalink | Comments (44) | (email story)

June 26, 2009

A White House To End A Black Week

Five bedrooms, five baths and over 5,000 square feet, the contemporary 388 Lansdale was built in 1991 the same year Michael Jackson released Dangerous. And while not one of his best efforts, track number 13 can't help but be somewhere on the mind.

∙ Listing: 388 Lansdale (5/5) - $2,100,000 [MLS]
∙ Gone Too Soon [wikipedia.org]

Posted by socketadmin at 10:00 AM | Permalink | Comments (22) | (email story)

June 24, 2009

Build A New Home For The Cost Of A High-End Kitchen?

From the listing and statement for 586 Lisbon in Excelsior:

Great opportunity to build a spectacular contemporary 3,200 square foot San Francisco and Downtown City view home. Approved architectural plans available. Estimate from contractor available to build a new home for $238,750. Three decks, 4-car parking plus additional parking on the driveway. Foundation already poured, extensive steel beam work completed.

Now who’s got the plans (or scoop)?

∙ Listing: 586 Lisbon Street (lot) - $488,000 [McGuire] [Statement]

Posted by socketadmin at 9:00 AM | Permalink | Comments (16) | (email story)

June 23, 2009

735 Geary: 21 TIC's On The Border Of The Tenderloin And Downtown

735 Geary consists of twenty-one (21) units that have been renovated and turned Tenancy in Common (TIC). They’re offering 10-yr fixed fractional financing at 5.87% with 10% down. And while currently in the Tenderloin according to the MLS, according to a listing this block will soon be Downtown ("MLS will rezone this neighborhood to 8A downtown").

And yes, parking is leased ($250 per month) and a block away (855 Geary).

∙ 735 Geary [735geary.com]
∙ Listing: 735 Geary #102 (1/1) 676 sqft - $315,000 (TIC) [MLS]
∙ Listing: 735 Geary #503 (1/1) 817 sqft - $475,000 (TIC) [MLS]
∙ San Francisco Real Estate Districts: Maps And Neighborhoods [SocketSite]
∙ A Rose By Any Other Name (But Not Necessarily A Neighborhood) [SocketSite]

Posted by socketadmin at 9:00 AM | Permalink | Comments (37) | (email story)

June 22, 2009

Calling All Contractors That Still Have Cash...

From the listing for 324 Day over in Noe Valley:

Contractor special! Construction stopped during renovation and was foreclosed. Seller/lender anxious to sell, very motivated. Bring your best offer, don't worry about the listing price. Seller/lender will finance with reasonable down payment.

No recorded previous sales price that we can find, but tax records would suggest a purchase at a little under around a million in September 2007.

∙ Listing: 324 Day Street (3/1.5) - $760,000 [ERA Golden Gate Properties Via Pacific Union]

Posted by socketadmin at 1:00 PM | Permalink | Comments (21) | (email story)

June 18, 2009

The 2201 Baker Street Site Scoop: Full Gallery And Floor Plans Live

While a bit of our thunder is once again stolen by a plugged-in reader with regard to 2201 Baker Street, here’s the real scoop...the "Modern By Design SF" website is live.

It features a fairly full gallery of pictures and floor plans (and that $7,100,000 price tag).

And yes, the grand grand opening was last night. It’s built for entertaining either en masse on the main floor and garden, or more intimately above (in the third floor family room and terrace) or below (where the sweet media room and glass enclosed wine cellar lie).

∙ Listing: 2201 Baker Street (7/9) - $7,100,000 [2201bakerst.com]
∙ An Eco-Friendly "Baker Acres" Prepares Its Return (2201 Baker) [SocketSite]

Posted by socketadmin at 1:45 PM | Permalink | Comments (52) | (email story)

Confidentially Speaking About The Infinity

The re-sale of 301 Main Street #9E has fallen out of contract, its list price has been cut to $749,000 (asking just under $900,000 when the Infinity sales office first opened), and its listing now notes "Infinity's BEST 2BR VALUE."

According to a plugged-in tipster, however, at least one mid-rise Infinity two-bedroom, two-bath has been sold by the sales office for under $600,000. Unfortunately we can't officially confirm with details, and we’ll have to consider that nugget a "random rumor" for now, as apparently a confidentially agreement was attached to the sale.

That being said, we have no reason to doubt our tipster and based on what we’ve been hearing from other sources we have no reason to doubt that price.

UPDATE: Another plugged-in reader adds, "Not sure if this is the same unit, but I know someone who just closed on a 2 bedroom viewless unit for 605k with 2 years of Hoa dues included."

∙ Listing: 301 Main #9E (2/2) - $749,000 [MLS]
∙ Just Under $900,000 Originally, Asking Just Under $800,000 Today [SocketSite]

Posted by socketadmin at 8:30 AM | Permalink | Comments (116) | (email story)

June 17, 2009

A Historic Look At 437 Hoffman (Before Noe Was All Builts Up)

Who could resist a historic look at 437 Hoffman atop Noe Valley circa 1905, versus as it looks today after all those damn density hounds had their way with the neighborhood.

∙ Listing: 437 Hoffman (3/2) - $1,495,000 [MLS]
∙ The Next Era In San Francisco’s Development: It’s All About Density [SocketSite]

Posted by socketadmin at 3:00 PM | Permalink | Comments (25) | (email story)

First Feng Shuied Now Sai Wonged At Sutter Heights (1521 Sutter)

Listed for $879,000 when roughly half of the 28 "Feng Shuied" Sutter Heights condos were spoken for in April of 2008, 1521 Sutter Street #306 was relisted three days ago with a new “original” list price of $678,900 (a drop of 23%).

At the same time the listing for 1521 Sutter Street #305 is now asking $709,080 (a 27% drop in pricing since 2008), while 1521 Sutter Street #206 is in contract with a list price of $745,000, originally asking $879,000 (a drop of 15%).

According to the new listing Sutter Heights is now 66% sold. And on the positive side, perhaps it's a blessing in disguise for those who were previously "priced out forever."

∙ Listing: 1521 Sutter Street #306 (2/2) 930 sqft - $678,900 [MLS] [Floor Plan]
∙ Floor Plans And Feng Shui At Sutter Heights (1521 Sutter) [SocketSite]
∙ Sutter Heights (1521 Sutter) Update: Preview Showings And Pricing [SocketSite]
∙ Sutter Heights (1521 Sutter) Update: Construction Nears Completion [SocketSite]
∙ Chinese Idiom: Misfortune may be a blessing in disguise [asianresearch.org]

Posted by socketadmin at 12:30 PM | Permalink | Comments (7) | (email story)

June 16, 2009

Walk The Plank To See The Views (1971 14th Avenue)

With simply a bit of a mid-century (if not Eichler) nod we note 1971 14th Street.

Okay, and we couldn’t resist the bridge to the front door. Nor the big San Francisco views.

∙ Listing: 1971 14th Avenue (3/2.5) - $1,099,000 [14thaveviewhome.com] [MLS]

Posted by socketadmin at 1:00 PM | Permalink | Comments (28) | (email story)

June 15, 2009

Are The "Exceptions" (And Big Losses) Becoming A Palms Rule?

What some are wont to characterize as San Francisco "exceptions" are quickly becoming the rule for two-bedroom condo re-sales at The Palms (555 4th Street).

While #401 closed escrow with a reported contract price of $599,900 in January (purchased for $779,000 in October 2006), and #313 is still seeking a short sale at $599,900 (purchased for $800,000 in January 2007), the list price for #731 has been reduced to a "bank approved price" of $619,000 (purchased for $925,000 in August 2006).

555 4th Street #823 is currently in contract having been listed at $605,000 (purchased for $815,000 in January 2007). And the only other two-bedroom currently listed at The Palms is #309, purchased for $842,500 in September 2006 and currently seeking $670,000.

Once again, all two-bedroom condos with declines in value ranging from 23% to 33% since late 2006/early 2007. Of course that's assuming sales at list.

∙ Listing: 555 4th Street #309 (2/2) 1,113 sqft - $670,000 [MLS]
∙ Listing: 555 4th Street #313 (2/2) 1,111 sqft - $599,900 [MLS]
∙ Listing: 555 4th Street #731 (2/2) 1,052 sqft - $619,000 [MLS]
∙ Pushing Forward With Price Discovery At The Palms (555 4th Street) [SocketSite]
∙ A SoMa/Palms Wake Up Call (And Apple): 555 4th Street #401 [SocketSite]

Posted by socketadmin at 3:30 PM | Permalink | Comments (65) | (email story)

June 12, 2009

A Schoolboy’s Fantasy Floor (Or Rather Perch Beneath)

It’s a schoolboy’s fantasy floor, or rather perch beneath, up at 89 Alpine Terrace. From above above, and from below below (with a skylight above it all).

If you’re planning on hitting an open house you might not want to wear a skirt. Then again you might (who are we to judge). And there’s a lot more of this "opulent" property to see.

∙ Listing: 89 Alpine Terrace (3/2 + 2 units) - $3,295,000 [Joel Goodrich] [MLS]

Posted by socketadmin at 1:00 PM | Permalink | Comments (30) | (email story)

The One With The Deer Lions On It (3859 21st Street)

Purchased for $2,080,000 in July of 2007, The Lion House (a.k.a. 3859 21st Street) returned to the market in April asking $1,975,000.

As a plugged-in reader notes, the price was dropped to $1,895,000 today, a sale at which would represent a 8.9% drop in value over the past two years.

And a bit of history and trivia, "built in 1893 for $3200." Ah, the good old days.

∙ Listing: 3859 21st Street (3/4) - $1,895,000 [herbalston.com] [MLS]
∙ 1470 Noe Closes For 100% Of Asking (But $25,000 Less Than In 2005) [SocketSite]

Posted by socketadmin at 11:00 AM | Permalink | Comments (33) | (email story)

June 11, 2009

Hinting At Some Rather Spectacular Views (1454-1456 Kearny)

Next door to the cottage at 1448 Kearny, and sharing the same seller, lies 1454-1456. It’s a legal two-unit building that’s being used as one (with two kitchens), and with a relatively unspectacular façade that hints at some rather spectacular views.

∙ Listing: 1454-1465 Kearny (3/2) - $3,500,000 [homesonkearny.com] [MLS]
∙ That Might Explain The Shocked Look On The Cottage's Face Façade [SocketSite]

Posted by socketadmin at 10:15 AM | Permalink | Comments (34) | (email story)

That Might Explain The Shocked Look On The Cottage's Face Facade

As we wrote this past September:

Purchased for $633,000 in October of 2005, this Telegraph Hill single-family "cottage" failed to find a buyer when it was listed for $779,000 eighteen months ago. Back on the market in 2008. And now asking $629,000.

No word on whether or not the fair market value of the “magical transformation by renowned, interior designer, Linda Applewhite to resemble the cottages of napa valley bed & breakfast” will need to be backed out of the future sale price in order to establish an “apple.”

Withdrawn from the MLS in November, 1448 Kearny officially returned to the market yesterday. Now asking $525,000, a sale at which would represent a 17% drop in value over the past four years (not accounting for the value of that magical transformation), and a 32% drop in expectations over the past two.

∙ Listing: 1448 Kearny Street (0/1) - $525,000 [MLS] [Floor Plan]
∙ Same Location And Size (And For The Most Part Price) As In 2005 [SocketSite]
∙ The Single Family Studio Home [SocketSite]

Posted by socketadmin at 8:00 AM | Permalink | Comments (13) | (email story)

June 9, 2009

Price "Slashing!" In Pacific Heights (And Return To A Near 2000 Value)

Purchased for $5,000,000 in July 2000, 2775 Green returned to the market this past February asking $5,950,000. A sale at which would have represented average annual appreciation of 2% over the past nine years.

A week ago, however, the list price was "slashed!" (their words, not ours) by $700,000. A sale at the reduced asking of $5,250,000 would represent average annual appreciation of 0.6% over the past nine years for this prime Pacific Heights "French Renaissance" home.

We trust no truly plugged-in person will confuse a 2009 sale price at a near 2000 purchase price as values have effectively been holding steady since 2000 or 2001.

UPDATE: A plugged-in eddy is on a roll. Also available for rent and asking $15,000 per month. We'll let you do the math (and figure out what happened to that other bathroom).

UPDATE: While the year 2000 sale at $5,000,000 stands, a plugged-in sleepiguy is correct about another sale with an undisclosed price in June 2004 (and some subsequent "fixing") that we missed. Cheers.

∙ Listing: 2775 Green (5/4.5) 4,892 sqft - $5,250,000 [2775green.com] [MLS]
∙ $15000 / 5br - Dramatic!Fully Renovated 5brm; 3.5 ba; Fabulous Grdn & Dks [Craigslist]

Posted by socketadmin at 9:30 AM | Permalink | Comments (74) | (email story)

A Classic Victorian Façade With A Bit More Modern Interior (And Rear)

2949 Sacramento still sports its classic Victorian façade, but its innards have been renovated and expanded, and its rear modernized. Anne Forell Architecture led the 2008-2009 renovation while Malin has all the pretty pictures, floor plans and listing.

UPDATE: And a before by way of Google Maps and a plugged reader:

∙ Listing: 2949 Sacramento (5/4.5) - $2,995,000 [SFProperties] [MLS]

Posted by socketadmin at 8:30 AM | Permalink | Comments (59) | (email story)

June 8, 2009

A "Peek-A-Boo View" (For The Six Million Dollar Man)

It’s not only currently a "peek-a-boo view" from the back, but apparently one which might require supernatural (or Six Million Dollar Man) sight to see.

∙ Listing: 740 Bay Street (2/1) - $1,059,000 [MLS]

Posted by socketadmin at 4:00 AM | Permalink | Comments (12) | (email story)

A New Valencia Corridor Comp Coming Soon (3615 20th Street #6)

It was a Valencia Corridor comp at $950,000 in August of 2007 . And while it’s already in contract, although not without contingencies, it’s a plugged-in tipster that notes they were asking $799,000 in 2009 (15.8% less than what was paid).

We’ll let you know when it closes.

∙ Listing: 3615 20th Street #6 (2/2) - $799,000 [MLS]

Posted by socketadmin at 3:45 AM | Permalink | Comments (46) | (email story)

Putting Their Permits And Plans To Work On Pacific (2219 and 2223)

As we wrote this past December:

In April of 2007 the listing for 2219 Pacific Avenue touted "Beautifully remodeled and maintained Pacific Heights Edwardian…Detached 2 car garage…All bedrooms are generously sized." It closed escrow two months later with a reported contract price of $4,250,000.

Three days ago a gutted and reframed 2219 Pacific returned to the market touting "Permits issued and complete plans available to finish this spectacular 3 story home in AAA Pac Hts...needs elect, plumbing, flrs, mechanical…will be a 4900 sq ft home…3/4 of foundation is brand new w/ all current seismic upgrades."

Two months later the listing for 2219 Pacific Avenue was withdrawn from the market without a sale, asking $3,495,000 at the time. And as a plugged-in tipster notes, the finishing of 2219 Pacific appears to be underway (no word on whether speculatively or not).

Also noted: while not listed nor official inventory, a renovated 2223 Pacific is now on the market and asking $3,600,000.

∙ From “Beautifully Remodeled” to Gutted And Asking $755K Less In PH [SocketSite]

Posted by socketadmin at 3:30 AM | Permalink | Comments (3) | (email story)

June 5, 2009

Simply Two Small Single-Family Homes Under Fives On A Friday

∙ Listing: 191 Chilton Avenue (1/1) 443 sqft - $479,000 [MLS] [Pacific Union]
∙ Listing: 59 Winfield (0/1) 437 sqft - $435,000 [MLS]

Posted by socketadmin at 4:00 PM | Permalink | Comments (51) | (email story)

Apples To Apples In Dolores Heights With Big Views: 3872 19th Street

3872 19th Street sports panoramic city views from the top two floors and a THX home theater below, but no deeded parking (the listed spot is leased for $200 per month).

Purchased in June of 2006 for $2,100,000, asking $2,095,000 today. And as always, it’s time to go on record if you’re planning to play the "I told you so" card.

∙ Listing: 3872 19th Street (4/3.5) - $2,095,000 [MLS]
∙ A Parking Space (And MLS) Pet Peeve [SocketSite]

Posted by socketadmin at 8:30 AM | Permalink | Comments (20) | (email story)

June 4, 2009

A Noe "House With A Conscience" (And Listing Lob): 3961 25th Street

From the the listing for 3961 25th Street:

A house with a conscience. Everything about this house is centered on a simple, yet noble premise: minimize waste for maximum grace. Now you can do what is right for your environment without sacrificing the pleasures of your everyday living.

From a reader who couldn’t resist the lob:

What happens when your house-with-a-conscience starts to feel guilty about the $2.85M you paid for it?

Regardless, we will note some sweet Noe Valley indoor/outdoor living and deck action with floor plans and a full list of green features online.

∙ Listing: 3961 25th Street (4/3.5) - $2,850,000 [3961-25thstreet.com] [Floor Plans] [MLS]

Posted by socketadmin at 2:45 PM | Permalink | Comments (77) | (email story)

If Not A Fat Finger Problem, A Montgomery Two-Bedroom For $750K

In February The Montgomery (74 New Montgomery) announced an official round of reductions with "Two Bedrooms starting from $882,000." At the same time buyers' agents' commissions were raised to 4.5%.

As plugged-in people know, buyers' agents' commission were raised to 5% in May. And yesterday 74 New Montgomery #316 (a two bedroom, two bath) was listed for $750,000.

∙ Listing: 74 New Montgomery #316 (2/2) 1,216 sqft - $750,000 [MLS]
∙ A Plugged-In Reader’s Perspective On The Montgomery And Its Cuts [SocketSite]
∙ The Montgomery Surpasses Itself (Now Offering 5% Commissions) [SocketSite]

Posted by socketadmin at 7:45 AM | Permalink | Comments (21) | (email story)

June 3, 2009

Oh Geez, Watermark (501 Beale) Number 12G Returns As A Short Sale

The unit number isn’t identified on the MLS, but it’s 501 Beale #12G. Purchased for $975,000 in May of 2006, the two bedroom and two bath Watermark condo was listed as a short sale for "$500,000" yesterday.

Expect a couple of competing offers, an "over asking" sale (assuming the bank even agrees), and perhaps a grumpy neighbor or two above and below.

∙ Listing: 501 Beale #12G (2/2) 1,032 sqft - $500,000 [MLS]
∙ What’s Up With The Watermark "G"s? [SocketSite]

Posted by socketadmin at 10:45 AM | Permalink | Comments (22) | (email story)

A Rather Red Kitchen (And 58 Other Photos) We Couldn’t Resist

There’s a lot to look at in the listing for 719 Carolina, and we’re not just talking about the number of photos (59) but rather renovations, materials, and styles alike. And yes, a rather red Scavollini kitchen we simply couldn’t resist (showing)...

∙ Listing: 719 Carolina (4/3.5) - $2,500,000 [MLS]

Posted by socketadmin at 10:15 AM | Permalink | Comments (24) | (email story)

The Full Plan Financial Monty For 135 Fernwood Drive

As a plugged-in reader points out, 135 Fernwood Drive is back on the market and asking $2,985,000. Purchased for $3,000,000 in December of 2005, its 6,000 square feet were completely renovated, restored and returned to the market in 2007 asking $4,285,000.

Last listed at $3,095,000 before being withdrawn in April.

∙ Listing: 135 Fernwood Drive (7/4.5) - $2,985,000 [MLS] [Plans (pdf)]
∙ The Full Plan Monty (135 Fernwood Drive) [SocketSite]

Posted by socketadmin at 8:00 AM | Permalink | Comments (16) | (email story)

June 2, 2009

829 Folsom: Listed And Starting From $550,000 $485,000 $399,000

Expected to be priced starting around $550,000 for a studio at the end of 2007, then from $485,000 a year ago, the first studio at 829 Folsom (#308) has been listed on the MLS and is asking $399,000.

As a reader notes, however, the listing for #308 doesn't include parking (there are sixty-three parking spaces in the building, but sixty-nine units).

∙ Listing: 829 Folsom #308 (0/1) - $399,000 [MLS]
∙ 829 Folsom Street: 69 Luxury Condominiums Coming In 2008 [SocketSite]
∙ 829 Folsom Street: New Details, Online Registration, And Timing [SocketSite]
∙ 829 Folsom [829folsom.com]

Posted by socketadmin at 12:30 PM | Permalink | Comments (58) | (email story)

You Make The Call: Bullish Or Bearish Data Point to Be (324 Williams)

Purchased for $680,000 in September 2005, bought back by the bank for $404,000 in December 2008, and now listed for $267,300, 324 Williams represents the kind of transaction that’s driving an uptick in U.S., California, and San Francisco District 10 sales.

And while an uptick in sales activity is oft considered a bullish sign, would the sale of 324 Williams at 50 percent below its value of three years ago be bullish or bearish by nature?

∙ Listing: 324 Williams (3/1) - $267,300 [MLS]
∙ Pending U.S. Home Sales Up 3.2% YOY (Down 2.9% In The West) [SocketSite]

Posted by socketadmin at 11:30 AM | Permalink | Comments (31) | (email story)

June 1, 2009

At The Base Of Billy Goat Hill Overlooking Noe Valley (634 30th St)

No real story of which we know, we’re simply digging on a couple of the details of the remodeled 634 30th Street at the base of Billy Goat Hill and overlooking Noe Valley.

∙ Listing: 634 30th Street (3/4) - $1,695,000 [MLS]

Posted by socketadmin at 12:30 PM | Permalink | Comments (20) | (email story)

May 29, 2009

From A Peek To A Poke For 54 And 56 South Park

A few weeks ago we gave you the sneak peek inside 54 and 56 South Park. A week ago the listings went live. And the vanity site has since been flushed out.

The fit, finish, and fixture quality are impressive in person. And if your interest was piqued, now’s your chance to poke around (if you haven't already).

∙ Listing: 54 South Park (3/4) - $3,845,000 [54-56southpark.com] [MLS]
∙ Listing: 56 South Park (2/2.5) - $2,695,000 [54-56southpark.com] [MLS]
∙ 54-58 South Park: The Inside Scoop (Both Literally And Figuratively) [SocketSite]

Posted by socketadmin at 6:00 PM | Permalink | Comments (33) | (email story)

3022 Washington Returns With The Traina Quote Of The Day

After a two year listing hiatus 3022 Washington (a.k.a. Engine Company Number 23) returns to the market asking $4,400,000 (versus $4,850,000 in February 2007).

Engine Company Number 23 was retired as a firehouse in 1964 and was then purchased by world-renowned designer John Dickenson….Former owners have also included former Governor Jerry Brown as well as world-famed advertising guru Hal Riney…. The current owner, who is a collector of rare and fine objects has brilliantly refined and maintained the property to its present glory.

Said current owner remains John Traina (of whom you’ve might have heard). And we remain smitten with that wood burning stove (a John Dickenson original).

The quote of the day from the Wall Street Journal’s coverage of the property’s listing:

Original elements in the ex-firehouse include “brass poles that are popular with the younger set,” Mr. Traina says.

So we've heard.

Full Disclosure: The co-listing agent for this property advertises on SocketSite, but we would have written about it regardless (as we did in 2007).

∙ Listing: 3022 Washington (4/5) - $4,400,000 [pacificheightsfirehouse.com]
∙ For Our Love Of Old Engine House #23 (3022 Washington) [SocketSite]
∙ San Francisco Landmark 93: Engine Company #23 [NoeHill]
∙ Jerry Brown’s Old Firehouse [Wall Street Journal]

Posted by socketadmin at 6:15 AM | Permalink | Comments (37) | (email story)

Take Two (Or Three) For Five New Condos On Telegraph Hill

Originally priced "from $3.1 million to $7.5 million," all five condos at the newly built 567 Vallejo on Telegraph Hill remain available and are now listed with prices ranging from $2,250,000 to $4,750,000 for the penthouse (whose floor plan is below).

∙ Listing: 567 Vallejo #302 (2/2.5) - $2,250,000 [MLS] [567vallejo.com]
∙ Listing: 567 Vallejo #500 (3/3) - $4,750,000 [MLS] [567vallejo.com]

Posted by socketadmin at 5:30 AM | Permalink | Comments (25) | (email story)

May 27, 2009

A Bank Owned TIC In Lower Pacific Heights? (2033 Pine Street)

It's a three-bedroom Tenancy in Common (TIC) with parking in a three-unit building in Lower Pacific Heights that's two blocks from "the heart" of Fillmore. And if the MLS is correct, 2033 Pine Street is also bank owned.

Again, TIC and bank owned (which would be the first such combo we've seen) assuming the listing is correct.

UPDATE: Well, despite the fact that it's been listed on the MLS (and sites that rely on the MLS) for 19 days as a bank owned sale...

...apparently it's not.

UPDATE: And after three hours on SocketSite, the listing has been corrected. Cheers.

∙ Listing: 2033 Pine Street (3/2) 1,600 sqft - $1,075,000 (TIC) [2033pine.com] [MLS]

Posted by socketadmin at 1:00 PM | Permalink | Comments (32) | (email story)

May 26, 2009

An Updated Oakland (The Architect) Eichler Across The Bay In Marin

It’s a Claude Oakland designed Eichler across the bridge in Lucas Valley. Built in 1963 but renovated (modern lovers keep looking, Eichler purists look away) and expanded since.

We’re not sure we get the carpeted dining room, but otherwise we’re digging the design (and lot). Not yet listed but the vanity site just went live and asking $1,550,000.

∙ Listing: 26 Oak Mountain Court, San Rafael (4/3) - $1,550,000 [26OakMountainCt.com]

Posted by socketadmin at 4:00 AM | Permalink | Comments (10) | (email story)

77 Van Ness: It’s Two Years Later And The Sales Office Opens Today

It’s been a little over two years since a reader first asked what was happening on the corner of Van Ness and Fell (and a plugged-in reader responded, "77 Van Ness Avenue, an eight-story, 100-foot-tall mixed-use development providing residential, office, and retail space."). And today, the 77 Van Ness sales office opens.

A mix of studios, one-bedrooms and two-bedrooms with 500 square foot studios starting in "the mid to upper $300’s," one-bedrooms listed from $443,170, and two-bedrooms listed from $641,449. Fifty (50) residential condos total and all floor plans online.

Full Disclosure: While the sales and marketing company for 77 Van Ness currently advertises on SocketSite, 77 Van Ness currently does not (and did not provide any consideration for this post).

∙ 77 Van Ness [77vanness.com] [Floor Plans]
∙ Listing: 77 Van Ness #609 (1/1) 575 sqft - $443,170 [MLS]
∙ Listing: 77 Van Ness #503 (2/2) 1,162 sqft - $641,449 [MLS]
∙ Reader’s Questions: That Eureka Moment [SocketSite]
∙ The Unfinished Façade Of 77 Van Ness (And Its 56 Residential Units) [SocketSite]
∙ 77 Van Ness Rising (And Our Request For A Rendering) [SocketSite]

Posted by socketadmin at 3:30 AM | Permalink | Comments (16) | (email story)

May 23, 2009

With Memorial Day Barbeques On The Brain (2209 Scott Street)

It was simply the wide plank floors (for which we’re suckers) and high ceilings (ditto) of the down to the studs (if not foundation) remodel of 2209 Scott that piqued our interest. And we were drawn right up to the roof deck with Memorial Day barbeques on the brain...

∙ Listing: 2209 Scott Street #1 (3/3.5) - $2,395,000 (TIC) [2209scottstreet.com] [MLS]
∙ Listing: 2209 Scott Street #2 (2/2.5) - $2,195,000 (TIC) [2209scottstreet.com] [MLS]

Posted by socketadmin at 11:00 AM | Permalink | Comments (14) | (email story)

May 22, 2009

Act Now (After Seventy-Seven Days On The Market) Or Else!

Purchased for $1,170,000 a year ago, 337 Douglass retuned to the market this past March asking $1,195,000. Reduced to $1,095,000 on April 1st and then to $995,000 on April 30th, a buyer has yet to emerge.

A sale at asking would represent a 15% drop in value over the past year for this single-family Eureka Valley home. But that’s not what caught our tipster’s eye. No, it was the following language from the listing:

It may be now or never...I am going to recommend to the Seller that we increase the price.

No word on who recommended the purchase in the first place.

And in other "last chance" news, a plugged-in reader points out that the listing for 1409 20th Street now notes: "LAST CALL! Final $ Reduction." Purchased for $860,000 in May of 2005, now asking $799,000 (down from $949,000).

∙ Listing: 337 Douglass (3/2.5) - $995,000 [MLS]
∙ A Potential Single-Family Apple Atop Potrero Hill: 1409 20th Street [SocketSite]

Posted by socketadmin at 1:00 PM | Permalink | Comments (23) | (email story)

66 Everson: Charles Warren Callister Designed Mid-Century Modern

It’s a Charles Warren Callister designed Mid-Century Modern home up in Glen Park.

In great condition and "largely unchanged from its original design" except for what looks like some new bathroom fixtures and counters, a remodeled lower level (which "may not be warranted"), and an updated kitchen (in a way that works).

∙ Listing: 66 Everson (3/2.5) - $1,849,000 [66everson.com] [talklien.com] [MLS]

Posted by socketadmin at 10:30 AM | Permalink | Comments (14) | (email story)

May 21, 2009

Bank Owned And Back On The Market On The South Slope Of Bernal

Purchased for $510,000 in September 2005 and then flipped five months later for $631,000 ("Buy, sell, repeat, retire!"), 622 Gates Street was taken back by the bank in September 2008. The Bernal Heights home is back on the market and asking $428,900.

As was overheard on the north slope of Bernal in September 2005, so went the chatter on the south slope in February 2006: "If that place is worth $631,000 then..."

∙ Listing: 622 Gates ("2/2") - $428,900 [MLS]
∙ Bank Owned And Back On The Market On The North Slope Of Bernal [SocketSite]

Posted by socketadmin at 10:45 AM | Permalink | Comments (21) | (email story)

Under Two Hundred Per Square Foot (Just Not Including The House)

This four story, four bedroom, and six and one-half bath Forrest Hill* home is listed for under $200 per square foot! Unfortunately that doesn’t include the cost of building it.

*UPDATE: As a plugged-in reader correctly points out, it's Forrest Hill Extension for this lot not Forrest Hill.

∙ Listing: 63 Garcia ("4/6.5") - $998,000 (lot) [MLS] [Map]

Posted by socketadmin at 9:45 AM | Permalink | Comments (23) | (email story)

May 20, 2009

Bank Owned And Back On The Market On The North Slope Of Bernal

Purchased for $841,000 in August of 2005, the single-family 3261 Harrison was bought back by the bank this past January for $703,120. The single-family (but zoned RH-2) home on the north slope of Bernal is now back on the market and asking $658,630.

Overheard in September 2005: "If that place is worth $841,000 then..."

∙ Listing: 3261 Harrison Street (2/1) - $658,630 [MLS]

Posted by socketadmin at 12:45 PM | Permalink | Comments (49) | (email story)

Calling 911 For Number 911 At 199 New Montgomery

No photos and few details, but we couldn’t help but notice the (short sale) listing for a ninth floor studio at 199 New Montgomery seeking $225,000.

In addition to said studio there are currently ten other listings at 199 New Montgomery. And as plugged-in people know, that's only about half the effective inventory.

∙ Listing: 199 New Montgomery #911 (0/1) - $225,000 [MLS]
∙ Selling The Rest Of Their Sold Out Inventory At 199 New Montgomery [SocketSite]

Posted by socketadmin at 10:30 AM | Permalink | Comments (14) | (email story)

Showcasing A Designer Price Cut: 2830 Pacific Sheds Another 29%

On the market but unlisted asking $15,500,000 seven months ago but then listed for $12,900,000 last month, it’s a plugged-in reader that notes the asking price for 2830 Pacific (a.k.a. the 2009 Decorator Showcase) has been cut to $9,995,000.

And speaking of designer digs, as noted by a number of readers the list price for the solar panel sporting 118-120 Cervantes has been cut from $3,000,000 to $2,850,000.

∙ Listing: 2830 Pacific Avenue (7/6) - $9,995,000 [MLS]
∙ 2009 Decorator Showcase (2830 Pacific) Opens Its Doors And Kimono [SocketSite]
∙ 118 Cervantes Boulevard: Listed, Numbers, And Your Peek Inside [SocketSite]

Posted by socketadmin at 8:30 AM | Permalink | Comments (18) | (email story)

May 19, 2009

The First Attempted Millennium Flip Resale: 301 Mission #40D

It’s the first attempted resale at the Millennium (as far as we know). Asking $2,750,000 ($1,409 per square foot) for the coveted southeast corner Grand Residences "D" plan on the fortieth floor with big Bay Bridge views.

No word on the original contract price for the sake of comparison. Tipsters?

UPDATE: A plugged-in reader reports:

The D Stack was selling for 1550-1600 psf when they first came on, but the prices were dropped 15% a couple of months ago, so figure that this buyer paid $1300-1350 psf for this place. They may have added upgrades that would increase the price some, but it looks to me like they are try to "flip" and make a small profit.

∙ Listing: 301 Mission #40D (3/3) 1,952 sqft - $2,750,000 [MLS]
∙ The Millennium: A Few Things You Might Know (And A Few You Don’t) [SocketSite]
∙ The SocketSite Scoop: Millennium Cuts Prices 15% Across The Board [SocketSite]

Posted by socketadmin at 1:00 PM | Permalink | Comments (43) | (email story)

May 18, 2009

In Case You Missed It As You Were Running By This Weekend...

The photography probably won't win any awards and the layout or stairs are certain to be off-putting to some. But the listing for 857 Hayes Street made us stop and sucked us in.

And it wasn't what looks to be a respectful remodel and restoration of the grand scale Victorian nor the dollars per square foot (four hundred and seventy-five) which did the trick. It was simply that porch off the kitchen which any entertainer would adore.

∙ Listing: 857 Hayes (4/2) - $949,000 [MLS]

Posted by socketadmin at 1:00 PM | Permalink | Comments (7) | (email story)

Carl Terrace (415-437 Carl) Update: On Pace For A Sale A Year

It was almost two years ago that a reader first wondered about the renovation of twelve units up at 415 Carl. And it was about six months later that they first hit the market.

Asking $489,000 in January of 2008, the list price for 415 Carl has been reduced to $399,000 while the list price for 437 Carl has been reduced to $499,000 (from $529,000).

Of the six TICs and six condos within Carl Terrace, ten remain unsold (including all six of the TICs). And the seller is now offering five year financing (interest only at 5.5% with a balloon payment) with 15% down.

∙ Moving Pictures: Can You Help A Reader (And Us) Out? [SocketSite]
∙ Two Of The TICs At 415 (And 437) Carl Hit The Market In Cole Valley [SocketSite]
∙ Carl Terrace [carlterrace.com]

Posted by socketadmin at 10:00 AM | Permalink | Comments (25) | (email story)

May 15, 2009

Craig Steely Has Been Busy As A On Beaver (2-4 Beaver Street)

It’s a pair of TIC flats on Beaver that have been "remodeled from top to bottom in 2008 by renowned architect Craig Steely of Steely architecture" (think 306 Mullen). And if we’re not mistaken, they’re next door to the architect’s own domicile (to the left above).

The two-bedroom upper unit (4 Beaver) has been listed on the MLS asking $998,000, while the three-bedroom lower units is currently not (but asking $1,198,000).

The self conscious need not inquire with respect to the lower unit.

Exhibitionists on the other hand, don't forget those invitations to the housewarming.

∙ Listing: 2-4 Beaver Street (3/2 and 2/1) - $1,198,000 and $998,000 [Zephyr]
∙ Listing: 4 Beaver (2/1) - $998,000 [MLS]
∙ Modern Architecture Hits The Market Up On Mullen (306 Mullen) [SocketSite]

Posted by socketadmin at 4:45 PM | Permalink | Comments (56) | (email story)

May 13, 2009

Apples To Apples In The Marina (And A Neighboring Comp To Boot)

Purchased for $1,219,000 in February 2007, 3423 Divisadero re-hit the market down in the Marina twenty-six (26) days ago asking $1,295,000. It's two bedrooms, two and one-half baths, and two parking spaces.

And while not a perfect "comp," a reader can't help but compare it with the competition next door (which isn't a perfect apple in and of itself).

Purchased for $750,000 in November of 2002 (with a little work in 2006), 3415 Divisadero #1 returned to the market twelve (12) days ago asking $1,245,000. Two bedrooms and two parking space as well, but only one and one-half baths.

A couple of other tradeoffs between the two on which to weigh in: 3415 is an upper unit while 3423 is a lower, but 3423 includes an exclusive use yard while with 3415 it's shared.

UPDATE: We missed it, but as a plugged-in reader notes...despite its "official" 26 days on the market and "original" list price of $1,295,000 (a sale at which would be reported as "at asking"), 3423 Divisadero also hit the market last July asking $1,349,000.

∙ Listing: 3423 Divisadero (2/2.5) - $1,295,000 [MLS]
∙ Listing: 3415 Divisadero #1 (2/1.5) - $1,245,000 [MLS]

Posted by socketadmin at 11:30 AM | Permalink | Comments (47) | (email story)

May 12, 2009

A Single-Family In The Threes (But Expect At Least As Many Offers)

So Williams isn’t the most scenic of residential avenues in San Francisco. But it is near the 3rd Street Muni line. There is development in the area. And 70 Williams is a single-family home that's asking $349,000 and looks to be in good, albeit a bit dated, shape.

∙ Listing: 70 Williams Avenue (2/2) - $349,000 [MLS]

Posted by socketadmin at 11:00 AM | Permalink | Comments (69) | (email story)

May 11, 2009

Add A Garage Condo (Or Two): 1810-1812 Pacific Avenue

No real story of which we yet know (readers?). But as a tipster notes, where there were none now there are two (three bedroom, two bath condos with parking below).

And at least one (unhappy neighbor we'll suppose).

∙ Listing: 1810-1812 Pacific (3/2.5)- $1,875,000/$1,995,000 [1810-1812pacific.com]

Posted by socketadmin at 1:30 PM | Permalink | Comments (54) | (email story)

May 8, 2009

This One Goes Out To All The Babies' Mamas...

It’s a classic Tudor facade with a Wiseman Group designed interior and the Presidio in the backyard. And some incredible art as well. Not a bad way to start the weekend.

∙ Listing: 3712 Jackson (6/5) - $7,995,000 [SF Properties] [MLS]

Posted by socketadmin at 7:00 PM | Permalink | Comments (20) | (email story)

A Post-Preview List Price Of $3,900,000 For 465 Hoffman Avenue

Plugged-in people got the pre-preview super sneak peek last week (sorry, we couldn’t resist). Now 465 Hoffman is listed with a few more photos, an asking price of $3,900,000 ($886 per square foot), and a new placeholder for another website that's "coming soon."

And yes, there's been a listing brokerage and agent switcheroo (originally "coming soon" with Paragon, on the market with Vanguard).

∙ Listing: 465 Hoffman Avenue (4/4.5) - $3,900,000 [MLS]
∙ 465 Hoffman: Architects Unveiling This Evening (And On The Market) [SocketSite]

Posted by socketadmin at 5:00 PM | Permalink | Comments (72) | (email story)

If You Think You Know Noe, Now’s The Time To Tell (3976 25th Street)

There aren’t a lot of photos (at least not yet) but at least we have a few facts: new construction in Noe circa 2006; three bedrooms and two and one-half baths in the main house plus a one-bedroom apartment; and 4,000 square feet.

Purchased for $2,900,000 in November of 2006 and now back on the market and asking $2,895,000. If you think you know Noe, now’s the time to tell.

UPDATE: A plugged-in reader tracks down the listing from 2006 which offers a few more photos and a great recap of how the market responded at the time:

Priced at $2.899MM, we faced considerable marketing risk with one of the highest asking prices ever in Noe Valley for a single family home. Activity level was so high we did not have time to set a bid date, with 15 private showings within 5 days of marketing commencement. We originated a full-price offer within seven days of marketing commencement. The sales price represents the third-highest price ever achieved in Noe Valley for a single family home.

∙ Listing: 3976 25th Street (4/3.5) - $2,895,000 [MLS]

Posted by socketadmin at 2:00 PM | Permalink | Comments (35) | (email story)

An "Undisclosed" Marina Apple On The Tree (142 Mallorca Way)

The address might be “undisclosed” on the public facing MLS, but plugged-in people know it's 142 Mallorca Way (and a Marina apple to be). Purchased for $1,226,000 in February of 2006, asking $1,157,000 today.

∙ Listing: 142 Mallorca Way (2/2) - $1,157,000 [MLS]

Posted by socketadmin at 11:45 AM | Permalink | Comments (22) | (email story)

A Three Bedroom San Francisco TIC In The High Threes (135 Clayton)

A 1,600 square foot three-bedroom in San Francisco proper for $375,000? Yes.

But a couple of things to keep in mind: it’s being offered as one of three TICs in the building; the Ellis Act was enacted in September 2006; and the Ellis act was completed in September 2007 (which might suggest a protected tenant was involved).

Oh, and the "kitchens have been partially demoed" which could complicate your financing, but also makes us think the seller might be, well...let's just say "motivated."

∙ Listing: 135 Clayton Street (3/1.25) - $375,000 (TIC) [MLS]
∙ Listing: 131-135 Clayton Street - $1,350,000 [MLS]
∙ Prohibition On Condominium Conversion Passes [SocketSite 5/06]

Posted by socketadmin at 10:45 AM | Permalink | Comments (27) | (email story)

Won’t You Be A Neighbor? (59 Rodgers Street #A)

We’re digging the high ceilings, light, vibe and façade of this true conversion loft space.

One thing we’re not super "hip" about, however, the listed parking space that’s leased.

∙ Listing: 59 Rodgers Street A (1/1) 1,171 sqft - $609,000 [MLS]
∙ A Parking Space (And MLS) Pet Peeve [SocketSite]

Posted by socketadmin at 8:45 AM | Permalink | Comments (13) | (email story)

May 7, 2009

Pushing Forward With Price Discovery At The Palms (555 4th Street)

Four months ago 555 4th Street #401 broke through the $600,000 mark on the downside for two-bedroom condos at The Palms and closed escrow with a reported contract price of $599,900 (purchased for $779,000 in October 2006). It was, however, a bank owned sale and lacking its kitchen appliances.

And while 555 4th Street #313 isn’t yet bank owned and its owner hasn’t yet "freaked out" (as far as we know), it did hit the market yesterday seeking a short sale at $599,900 ($540 per square foot). The two bedroom condo (with appliances intact) was purchased for $800,000 in January 2007.

With respect to one-bedrooms (six of which are currently listed), 555 4th Street #733 hit the market in February seeking $589,000. Currently listed at $469,000 ($679 per square foot) having been reduced four times since, the listing notes "VACANT" and "possible short-sale." The seller paid $645,000 in August 2006.

∙ Listing: 555 4th Street #313 (2/2) 1,111 sqft - $599,900 [MLS]
∙ Listing: 555 4th Street #733 (1/1) 691 sqft - $469,000 [MLS]
∙ A SoMa/Palms Wake Up Call (And Apple): 555 4th Street #401 [SocketSite]

Posted by socketadmin at 6:00 AM | Permalink | Comments (33) | (email story)

May 6, 2009

Not To Be Flip, But If It Wasn’t A "Flip" It Looks Like One Now

We can't be certain that it started out as a "flip" (or more accurately a speculative remodel), but 2011 Golden Gate Avenue is back on the market and asking $1,995,000.

Purchased for $1,350,000 in July of 2007, according to its new listing the 4,356 square foot home has been "elegantly remodeled" since. And according to its permits, that remodel included the addition of a couple of new bathrooms as well as legal square feet.

UPDATE: As a plugged-in reader notes, we should have put that "new listing" in quotes. Asking $2,395,000 in October of 2008 and $2,200,000 in November. But only 12 days on the market according to industry stats.

∙ Listing: 2011 Golden Gate Avenue (5/5.5) - $1,995,000 [MLS]

Posted by socketadmin at 12:00 PM | Permalink | Comments (30) | (email story)

An Unemotional Fifty-Four Percent Off In The Excelsior (398 Vienna)

From the listing for 398 Vienna a little over a year ago (eight months after being purchased for $549,000):

Gem of a property on the inside. Large one bedroom and bath and an additional oversized room and bath with own private separate entrance on Brazil. Laminate floors, updated bathroom, and spacious living room/dining room combo.

Asking $499,000 at the time and perhaps banking on a bidding war. Subsequently reduced to $425,000. Then to $349,000. And then to $330,000. Bought back by the bank in January for $289,960 and now on the market and asking an unemotional $251,750.

It's funny what happens with real estate when emotions don't get in the way.

∙ Listing: 398 Vienna (1/2) - $251,750 [MLS]

Posted by socketadmin at 10:30 AM | Permalink | Comments (32) | (email story)

May 5, 2009

2404 Washington: Perhaps An Apple And An Anecdote To Be...

Purchased for $1,300,000 in September 2006, according to its latest listing this "AAA location" Pacific Heights two-bedroom condo has been "newly remodeled since" (kitchen, both bathrooms, hardwood floors). And now asking $1,275,000.

UPDATE: A plugged-in reader who toured the property in 2006 wonders if the listing language might be a bit hyperbolic (a notion the permit history appears to support). If so, consider this property a "prime" apple (and anecdote of other things) to be.

UPDATE (5/6): A few interior photos have been added to the listing.

And an update from our aforementioned reader:

It does look like they updated the floors to a different finish and made some subtle changes / updates throughout so I may have been a bit too harsh in my earlier comments. But these are updates / finishing touches, not totally remodeled.

∙ Listing: 2404 Washington (2/2) 1,337 sqft - $1,275,000 [MLS]

Posted by socketadmin at 11:00 AM | Permalink | Comments (22) | (email story)

May 4, 2009

Thirty Percent Of 767 Bryant Returns As REO (But Not Speedwagon)

In August of 2006 twenty apartments at 767 Bryant hit the market as condos. At the time list prices ranged from $676,920 to $1,850,000 including 767 Bryant #409 at $676,920 and 767 Bryant #210 at $1,200,000.

Despite a subsequent remodeling, reductions and incentives (including a free Prius or Mini Cooper), at least six of the units failed to sell and were lost to foreclosure.

On Friday 767 Bryant #409 returned to the market as a bank owned property (REO) asking $525,000 (23% less than in 2006) and 767 Bryant #210 returned to the market as an REO property asking $799,000 (33% less than in 2006).

∙ Listing: 767 Bryant #409 (1/2) 908 sqft - $525,000 [MLS]
∙ Listing: 767 Bryant #210 (2/3) 2,041 sqft - $799,000 [MLS]
∙ 767 Bryant: The Apartments Condominiums [SocketSite]
∙ Buy A Condo Get A Car At 767 Bryant [SocketSite]

Posted by socketadmin at 1:00 AM | Permalink | Comments (18) | (email story)

May 1, 2009

Prettier (Or Pettier) In Pink For 23 Presidio Terrace?

It’s a plugged-in reader that points it out (we even stole his headline). And while we don’t really have a story, it’s hard to believe there isn’t one behind the before (above) and after (below) for number 23 in the rather conservative enclave of Presidio Terrace.

It's time to spill it if you know the story. Oh, and on the market and asking $8,900,000.

∙ Listing: 23 Presidio Terrace (10/4) - $8,900,000 [MLS]
∙ Tainted Love Of Presidio Terrace [SocketSite]

Posted by socketadmin at 6:00 PM | Permalink | Comments (31) | (email story)

From The Hollywood Hills Of San Francisco: 765 Sanchez

Okay, so we know the rest of the house could use some updating. And we’re not touching "value." But it’s Friday and we’re suckers for a Hollywood Hills style terrace and city views.

∙ Listing: 765 Sanchez (3/2.75) - $3,250,000 [MLS]

Posted by socketadmin at 11:30 AM | Permalink | Comments (51) | (email story)

465 Hoffman: Architects Unveiling This Evening (And On The Market)

Purchased for $1,150,000 as an 800 square foot "tear-down" in March of 2007, on the lot now stands nearly 4,500 square feet of living space with four bedrooms and four and one-half baths spread across two legal units ("Catered to a family with Au Pair...").

And this evening, Group 41 officially unveils their "H House" (a.k.a. 465 Hoffman).

Floor plans (pdf) and a few renderings already online, we’ll have additional updates and details throughout the day (or perhaps night).

UPDATE: The reality below (versus the rendering above):

And a pre-preview party peek at the master bath, bedroom, and staircase rendered above for the truly plugged-in...

∙ 465 Hoffman Avenue [465hoffman.com]

Posted by socketadmin at 9:30 AM | Permalink | Comments (56) | (email story)

April 30, 2009

2009 Decorator Showcase (2830 Pacific) Opens Its Doors And Kimono

San Francisco's 2009 Decorator Showcase at 2830 Pacific simultaneously opened its doors this past weekend and hit the market this week. As a plugged-in reader noted, now listed at an official $12,900,000 and rather uniquely presented in all its design glory online.

If you like what you see, go see it for yourself and report back. It is a fundraiser after all.

At this point we count at least five other recent Decorator Showcase homes on the market in addition to 2830 Pacific including 2500 Divisadero and 2601 Broadway.

UPDATE: According to a plugged-in tipster the property was being shopped at $15.5M about 6 months ago.

∙ Listing: 2830 Pacific (7/6) - $12,900,000 [sfproperties.com] [MLS]
∙ Another Ex-Decorator Showcase Is Officially Listed: 2500 Divisadero [SocketSite]
∙ Decorator Showcase Miss 2000 Officially Hits The Market On Broadway [SocketSite]

Posted by socketadmin at 10:00 AM | Permalink | Comments (37) | (email story)

I’ll See Your $800 Per Square Foot And Raise Lower You $200 At 235

Purchased for $1,052,500 in February 2007, 235 Berry #416 returned to the market 34 days ago and is asking $1,295,000 ($804/sqft). Purchased for $757,000 in February 2007, 235 Berry #317 returned to the market 14 days ago and is asking $838,000 ($783/sqft).

And as a plugged-in tipster notes, yesterday 235 Berry #413 aggressively joined the two three five resale fray. Purchased for $950,000 in June of 2007 (which at $18,900 under what the developer was asking might have seemed like a good negotiation at the time), the two-bedroom condo has returned to the market asking $789,000 ($639/sqft).

∙ Listing: 235 Berry #416 (2/2.5) 1,610 sqft - $1,295,000 [MLS]
∙ Listing: 235 Berry #317 (2/2) 1,070 sqft - $838,000 [MLS]
∙ Listing: 235 Berry #413 (2/2) 1,235 sqft - $789,000 [MLS]

Posted by socketadmin at 9:00 AM | Permalink | Comments (19) | (email story)

April 29, 2009

Apples To Apples (To Un-Upgraded Apples) On Mallorca In The Marina

Down in the heart of the Marina in May 2000 a three-bedroom and two-bath condo at 228 Mallorca Way changed hands for $1,100,000. According to a plugged-in tipster, the owner then remodeled to the tune of around $200,000.

In May 2004 the upgraded condo with two parking spaces was sold for $1,225,000.

Returning to the market this January asking $1,395,000, the listing has been delisted, relisted, and reduced twice. Now asking $1,195,000. In the words of our tipster, is this the one "prime" condo the bull market forgot (or simply a nod to the new realty reality)?

∙ Listing: 228 Mallorca Way (3/2) - $1,195,000 [MLS]

Posted by socketadmin at 11:00 AM | Permalink | Comments (53) | (email story)

1536 Pacific: From Coming To Coming Along To Six New Condos Here

Plugged-in people knew what was coming, how they were coming along, and now that they’re here. As a tipster notes, the six new condos at 1536 Pacific hit the open house circuit this afternoon yesterday with prices starting at $1,250,000 for unit #3.

∙ Listing: 1536 Pacific Avenue #3 (2/2) - $1,250,000 [Alain Pinel]
∙ The Community Delivers Once Again: 1536 Pacific Drawings/Details [SocketSite]
∙ 1536 Pacific Rising: Pictorial Progress To Date (And Recap) [SocketSite]

Posted by socketadmin at 3:30 AM | Permalink | Comments (21) | (email story)

A Completely Renovated And Then Remodeled 2525 Webster Returns

Purchased for $4,000,000 in July 2005, the 7,500-7,800 square foot 2525 Webster was completely renovated over the course of a year and then returned to the market asking $7,150,000 in August 2006.

Closing escrow in January 2007 with a recorded contract price of $6,300,000, the home is back on the market asking $6,750,000 with a few changes in-between. For example, plugged-in people might recall that the kitchen wasn’t open to the dining room in 2006.

∙ Listing: 2525 Webster (7/6.5) - $6,750,000 [2525websterst.com] [MLS]
∙ Coming Soon: 2525 Webster [SocketSite 8/06]
∙ Inside 2525 Webster [SocketSite 8/06]

Posted by socketadmin at 3:30 AM | Permalink | Comments (32) | (email story)

April 27, 2009

Nice Gold Mine Hill Neighbor (And 1960's Design Lover) Seeks Same

Designed by Fisher-Friedman Associates and constructed up in Diamond Heights as part of an "urban renewal" project in 1967, “Gold Mine Hill" is a collection of fifty-three units in four different styles (a duplex, two single-family houses, and a townhouse).

Fom a plugged-in reader:

I am a fellow homeowner in an award-winning '60's development in Diamond Heights. I wanted to send this info in as 2 houses in it are for sale and it would be great if the people that bought the houses were lovers of '60's design.

They are actually great deals for the amount of space they have. 38 Topaz has a power retractable roof over an upstairs atrium. 43 Topaz is huge and has a sauna and hot tub.

These 2 houses are great and I'd love it if the people who bought them knew about their history. I've attached a pdf of some of the background of the neighborhood. We are nice neighbors!

Don't forget those invitations to the housewarming(s). And more importantly, don’t forget our invitations to the next neighborhood block party. We'll bring the hula hoops.

Editor’s Note: We'll have the aforementioned pdf online soon tomorrow.

∙ Listing: 38 Topaz Way (3/2.5) 1,792 sqft - $849,000 [MLS]
∙ Listing: 43 Topaz Way (5/4.5) 3,338 sqft - $1,688,000 [MLS]

Posted by socketadmin at 4:00 PM | Permalink | Comments (26) | (email story)

April 24, 2009

Fit For A King San Francisco Mayor (Or Getty): 1101 Green #2001

Five weeks after a plugged-in reader reported the Mayor’s Bellaire Tower penthouse condo was on the market for $3,200,000 (which Matier & Ross confirmed three weeks later), 1101 Green Street #2001 has been listed. The price, however, has been reduced to $2,995,000.

Once again, purchased from Peter Getty for $2,350,000 in February 2006 as a two-bedroom, but "completely remodeled & stripped to the studs & designed by Michael Agins & Assoc Interior Design" since.

Now a rather spectacular 1,693 square foot one-bedroom with one and one-half baths.

∙ Listing: 1101 Green Street #2001 (1/1.5) - $2,995,000 [MLS]
∙ It’s Three Weeks Later And They’re Still Asking Three Point Two [SocketSite]

Posted by socketadmin at 11:45 AM | Permalink | Comments (53) | (email story)

715 Cole: A Crispy Cole Valley Apple With Potential On The Tree

We’d at least redo the kitchen and repaint the façade. And based on the lack of bathroom photos we’d probably budget for them as well. But we do like a lot of its original woodwork and bones (if not meat) of 715 Cole.

On the market for $1,349,000, purchased in July of 2005 for $1,326,000 (hopefully not with "buy, sell, repeat, retire" in mind).

∙ Listing: 715 Cole Street (3/2) - $1,349,000 [MLS]

Posted by socketadmin at 11:30 AM | Permalink | Comments (28) | (email story)

Tehama Lofts #304 Takes You Higher (Boom-Shaka-Laka-Laka)

We’re digging the high windows, high-end finishes (including the "sly" fireplace surround), and staircase within the true conversion Tehama Lofts #304 (245 5th Street). Now if only there were a few more windows on that main living level, then boom-shaka-laka-laka...

∙ Listing: 245 5th Street #304 (2/1) - $1,095,000 [Paragon] [MLS]

Posted by socketadmin at 8:15 AM | Permalink | Comments (10) | (email story)

Four Weeks Riper (And Another Reduction) For This Noe Valley Apple

As we wrote when 714 Duncan hit the market four weeks ago asking $1,295,000 having been purchased for $1,413,000 in January of 2008:

There’s little doubt the quick turn will result in a loss as even with "typical San Francisco appreciation" transaction costs wouldn’t be covered. But that doesn’t mean this data point will be flawed. In fact, this sale will provide some rather clean commentary on changing neighborhood values over just the past year. And that’s why we like, and offer, our apples.

As a plugged-in reader notes, the list price for 714 Duncan has been reduced for a second time in four weeks, now asking $1,195,000 or 15.4% under its sale price in early 2008.

∙ Listing: 714 Duncan (4/2) 2,050 sqft - $1,195,000 [MLS]
∙ Apples To Apples With Views, Views, Views! (714 Duncan) [SocketSite]
∙ Expectation Setting: San Francisco Appreciation [SocketSite]

Posted by socketadmin at 12:15 AM | Permalink | Comments (39) | (email story)

April 22, 2009

An Apple Rather Than Cone On The Pine Street Tree (3016 Pine)

Purchased for $710,000 in May of 2003, a complete overhaul, remodel and bullish market resulted in the sale of 3016 Pine Street for $2,725,000 in July of 2006.

Back on the market today and currently asking $2,595,000.

UPDATE: A plugged-in reader ads:

If you want to go a little further back, a contractor (who RIP) paid $600k in 2002 and flipped it to a couple of brothers in 2003 who IIRC went on the Planning Commission to defend their project as it was going to be "their home". Soon after the project was done *surprise* it went on the market. :rolleyes:

There may have been issues with the remodel/expansion as scaffolding went up at least twice after the 2006 closing (but then, maybe they just wanted different paint colors). BTW, I think (at least one of) those decks went in after the project was "finaled" (i'm just saying).

We can't confirm the comment with respect to the deck(s), but if you're interested in the property we might suggest double checking just to be safe. Cheers.

∙ Listing: 3016 Pine Street (5/3.5) - $2,595,000 [MLS]

Posted by socketadmin at 12:15 PM | Permalink | Comments (48) | (email story)

April 20, 2009

Apples To Apples And A Fall From For Sierra Heights: 55 Sierra #C101

Purchased for $769,000 in February of 2007, 55 Sierra #C101 was bought back by the bank with a loan balance of $665,076 in February of 2009. A week later the Sierra Heights condo returned to the market asking $719,900.

After two weeks on the market the list price was reduced to $699,000; two weeks later to $669,900; two weeks later to $619,900; and two weeks after that (and five days ago) to $589,900. A sale at asking would represent a 23.3% drop in value since early 2007.

And while it’s not "prime" Potrero Hill, nor one of the nicer Sierra Heights units we’ve seen, it is apples to apples and a three-bedroom condo under $600,000/$415 per square foot.

∙ Listing: 55 Sierra #C101 (3/2) 1,424 sqft - $589,900 [MLS]
∙ New Developments: Sierra Heights [SocketSite]

Posted by socketadmin at 12:00 PM | Permalink | Comments (28) | (email story)

April 17, 2009

118 Cervantes Boulevard: Listed, Numbers, And Your Peek Inside

A few numbers for 118-120 Cervantes Boulevard: a total of 2 parking spaces, 4 bedrooms, 4.5 baths, and 2992 square feet; a 4.8kw photovoltaic system (façade and roof) with solar assisted heating (water and interior); and asking $3,000,000 for the whole shebang.

And while legally two units, from the listing: "...top floor (or apartment with separate street entrance); also accessed via the Mezzanine/Den; can be a family room, homework or conference room, secondary eating area; partial kitchen and laundry...."

∙ Listing: 118-120 Cervantes (4/4.5) - $3,000,000 [118cervantes.com] [MLS]
∙ 118 Cervantes: From Architecture Watch To (Almost) On The Market [SocketSite]
∙ Architecture Watch: 118 Cervantes Boulevard Gone Green/Modern [SocketSite]

Posted by socketadmin at 11:30 AM | Permalink | Comments (31) | (email story)

April 16, 2009

An Überprime Data Point Update: A Little Something Extra Off The Top

Tax records suggested an August 2000 purchase price of roughly $7,000,000 for 2306 Broadway while a plugged-in reader puts it at $6,600,500. Listed as expected for $6,495,000 twenty days ago, but recently reduced to $5,995,000.

Once again, updated since its last sale and the sellers are simply moving next door.

And in terms of photoshopping the views, let’s just say it’s already been a rough day on our tongues. Okay, and that we could have sworn that bridge and Palace were oriented a bit more to the west. Like they are below.

∙ Listing: 2306 Broadway (4/4.5) - $5,995,000 [Nina Hatvany] [MLS]
∙ Coming Soon And An Überprime Data Point To Be: 2306 Broadway [SocketSite]
∙ The Side Story (Quite Literally) For 2306 Broadway: 2310 Next Door [SocketSite]
∙ Why Stick With Just One Style When You Can Incorporate Them All [SocketSite]

Posted by socketadmin at 1:00 PM | Permalink | Comments (33) | (email story)

Why Settle For Just One Style When You Can Incorporate Them All...

The marketing statement: "This home is a rarely available example of the very best in modern architecture. The facade is elegant."

The sound (or lack thereof): our tongues being bit. Hard.

∙ Listing: 156 12th Avenue (3/3) - $1,599,000 [MLS]

Posted by socketadmin at 11:30 AM | Permalink | Comments (43) | (email story)

April 15, 2009

Below 2004 Or 2001 Pricing? Why Choose When You Can Have Both!

Having sold for for $2,900,000 in March of 2001 and then again for $2,900,000 in May of 2004, 2922 Sacramento returned to the market this past January seeking $3,150,000.

In February the asking price was lowered to $2,950,000. And as a tipster notes, yesterday the list price for this Pacific Heights "Large-scale Victorian…on over-sized lot…[in] Meticulous condition!" was reduced to $2,800,000.

Without the context of its two previous sales would two point eight million dollars for this property seem like bullish or bearish commentary to you?

UPDATE: We missed the withdrawn listing from last year. Asking $3,595,000 in May of 2008 and then withdrawn in December. So while it's an "official" 76 days on the market for this property according to those Realtor stats, in reality it has been closer to a year.

∙ Listing: 2922 Sacramento (4/3.5) - $2,800,000 [MLS]

Posted by socketadmin at 12:00 PM | Permalink | Comments (65) | (email story)

April 13, 2009

Entitled, Envisioned And For Sale (But Not Permitted): 1600 Market

The corner of Market at Franklin and Page as it looks (for the most part) above, the same corner (1600 Market) as envisioned by Stanley Saitowitz and as is being marketed below.

Note no building permit in hand, but entitled for 23 condos as proposed with nine stories, ground floor retail, and parking for nine cars.

∙ Listing: 1600 Market (Proposed Development) - $3,195,000 [MLS] [Existing Building]
∙ Stanley Saitowitz | Natoma Architects Inc. [saitowitz.com]

Posted by socketadmin at 4:30 PM | Permalink | Comments (93) | (email story)

April 8, 2009

After And Before And Asking 25% More: 632 El Camino Del Mar Redux

Inside Villa Vecchia (632 El Camino Del Mar) after its renovation, a few new baths, and return to the market asking an even $10,000,000. And inside Villa Vecchia before when asking (and sold) for $7,950,000 in March of 2007.

∙ Listing: 632 El Camino Del Mar (5/7.5) 7,089 sqft - $10,000,000 [Byzantium] [MLS]
∙ Inside Villa Vecchia [SocketSite 9/06]

Posted by socketadmin at 10:00 AM | Permalink | Comments (17) | (email story)

April 7, 2009

The Income Might Look Interesting But Don't Neglect The Principal(s)

We can’t vouch for the quality of the stated "$7,000" per month rent roll nor the legality of all three units (the listing notes "with permit" but then features only two meters), but from a cap rate perspective one can’t help but be intrigued by how the proffered numbers for 1270-1272 Fitzgerald Avenue (asking $699,950) appear on paper.

It’s a bit of caution, however, by way of the listing for 1636 Palou Avenue which features three vacant units and is currently asking $599,950. From the listing: "Identical building was sold for $1,100,000 3 years ago." No word on its rent roll at the time.

∙ Listing: 1270-1272 Fitzgerald Avenue (9/5) - $699,950 [MLS]
∙ Listing: 1636 Palou Avenue (9/4) - $599,950 [MLS]

Posted by socketadmin at 8:30 AM | Permalink | Comments (78) | (email story)

April 6, 2009

830 El Camino Del Mar Moves Away From 2008 And Closer To 2002

As a plugged-in reader notes, the asking price for 830 El Camino Del Mar has been reduced for the third time since being listed (for the twelfth time) two months ago.

Now asking $11,500,000. That's $3,500,000 (23%) under the expectations of early 2009 and $6,500,000 (36%) under those in the middle of 2008, but remains $2,500,000 (28%) over the asking in 2002.

∙ Listing: 830 El Camino Del Mar (2/2.5) - $11,500,000 [seacliffsentinel.com][MLS]
∙ Will The Twelfth Time Be The Charm? 830 El Camino Del Mar Returns [SocketSite]
∙ Behind The Great Wrought Iron Wooden Gate At 830 El Camino Del Mar [SocketSite]

Posted by socketadmin at 2:45 PM | Permalink | Comments (11) | (email story)

Mo' Mansions On A Monday Morn: 1037 Church Street (The "Hulse")

It’s another turn of the century San Francisco mansion (this time the "Hulse") that’s been renovated and modernized but manages to maintain a bit of its period flair.

Purchased for $1,553,500 in January of 2003 but with some remodeling (new master bath) and renovation (new kitchen) since. Floor plans online.

∙ Listing: 1037 Church (5/4) 5,852 sqft - $2,895,000 [1037church.com] [MLS]

Posted by socketadmin at 8:30 AM | Permalink | Comments (35) | (email story)

From Flippy To Floppy For Watermark (501 Beale) Penthouse #2B

Two months after its initial sale for $1,250,000 in October of 2006 Watermark (501 Beale) Penthouse #2B was flipped for $1,375,000. (Ah, the good old days.) It's now a little over two years later and the top floor condo is back on the market and asking $1,094,500.

The listing notes both short sale and bank owned (we believe it’s the former) and the condo failed to sell earlier this year when seeking $1,195,000. Keep in mind that the identical "penthouse" unit a floor below (#PH1B) sold for $1,300,000 in October of 2006 and was likley a supporting comp for the flip of #PH2B. And so on. And so forth.

∙ Listing: 501 Beale Street #PH2B (2/2) - $1,094,500 [MLS]

Posted by socketadmin at 7:30 AM | Permalink | Comments (80) | (email story)

April 3, 2009

Whiter Than The Colgate Mansion (But Not As "Improved"): 940 Grove

While the down to the studs renovation of 924 Grove (a.k.a. the Colgate Mansion) is complete, with 940 Grove it's all about the bones and enviable 125 foot by 137.5 foot lot.

Currently home to Burt Children’s Center, the 10 bedroom and 5 bath single-family home will be delivered vacant. And hey, if you think you're into "commercial grade kitchens"...

Original design by Albert Pissis, the founding father of San Francisco's Beaux-Arts style and architect behind the Hibernia Bank.

∙ Listing: 940 Grove (10/5) - $2,750,000 [MLS]
∙ 924 Grove: New And "Improved" For A Whiter Smile And Space [SocketSite]
∙ Albert Pissis [wikipedia]
∙ Hibernia Bank Buyer Unmasked (The Dolmen Property Group) [SocketSite]

Posted by socketadmin at 5:30 PM | Permalink | Comments (28) | (email story)

Back In Black By Brown (And Not By Auction): 3731 Fillmore #2

It’s a plugged-in tipster that notes 3731 Fillmore Street #2 is back on the MLS. If the address sounds familiar it should. As we wrote in February:

Asking $699,000 when originally marketed by Brown & Co. but then re-listed, reduced and withdrawn at $549,000 last month, 3731 Fillmore Street #2 is back on the MLS with a "list price" of $295,888 (from the listing: "Must sell by tuesday, february 24th. Auctioned to the highest bidder at the property.”).

As you might recall the highest bidder came in at $410,000 but the seller declined to sell (apparently "must" means something else in listing land). So it’s once again listed by Brown & Co. and back to asking $549,000.

As previously noted, 3731 Fillmore #6 sold for $710,000 in October of 2008 and four other units remain availble in the six-unit building.

∙ Listing: 3731 Fillmore Street #2 (1/1) - $549,000 (TIC) [MLS]
∙ Now Up For Auction In The Marina (And Originally Asking $699,000) [SocketSite]
∙ A Plugged-In Reader Calls Shenanigans And Sets The Record Straight [SocketSite]

Posted by socketadmin at 3:45 PM | Permalink | Comments (33) | (email story)

April 2, 2009

Apples To Apples With Views, Views, Views! (714 Duncan)

Purchased for $1,413,000 in January of 2008, the four-bedroom 714 Duncan is back on the market in Noe Valley and asking $1,295,000. A transfer forces the sale.

There’s little doubt the quick turn will result in a loss as even with "typical San Francisco appreciation" transaction costs wouldn’t be covered. But that doesn’t mean this data point will be flawed. In fact, this sale will provide some rather clean commentary on changing neighborhood values over just the past year. And that’s why we like, and offer, our apples.

∙ Listing: 714 Duncan (4/2) 2,050 sqft - $1,295,000 [MLS]
∙ Expectation Setting: San Francisco Appreciation [SocketSite]

Posted by socketadmin at 3:00 PM | Permalink | Comments (53) | (email story)

924 Grove: New And "Improved" For A Whiter Smile And Space

It’s a to the studs (and systems) renovation of the 1903 Colgate Mansion at 924 Grove.

And yes, as in the toothpaste.

UPDATE: "[L]isted at 4400 square feet when the property was last on the market in '05..."

UPDATE: A plugged-in reader connects the dots. From the Chronicle this past November:

The 4,800-square-foot house, which also has a carriage house in back, had been converted into apartments. [Maryam Monsef and her husband, Alan Sagatelyan] have spent the past two years restoring it into a single-family home for themselves and their three children. They hope to move in soon.

∙ Listing: 924 Grove (6/5.5) - $3,390,000 [MLS]

Posted by socketadmin at 7:30 AM | Permalink | Comments (56) | (email story)

March 30, 2009

Apples To Apples (But Likely No Longer 5% Down): 4174 26th Street

On April 13, 2004 4174 26th Street in the heart of Noe Valley sold for $829,000. The buyer put 25% down. Two years later it sold for $995,000. The buyer put 5% down.

A few months later the property appears to have changed hands between family members, and in October of 2006 the property was refinanced with two loans totaling $1,029,750. It appears that the property was taken back by the bank two months ago, and three weeks ago it was sold to a couple of agents. It's now on the market and asking $799,000.

There’s no doubt this property has its challenges (including a lack of parking). And perhaps this is the only house in Noe Valley that was purchased with 5% or less down (but we wouldn’t bet on it). Regardless, it was a legitimate comp for other sales in 2004 and 2006, all of which went on to become comps of their own. And so on. And so forth.

So what happens now if the imperfect comp upon which the values of other more perfect homes were based now sells for 20% less?

∙ Listing: 4174 26th Street (2/2) - $799,000 [MLS]

Posted by socketadmin at 4:00 PM | Permalink | Comments (112) | (email story)

SocketSite's San Francisco Listed Housing Update: 3/30/09

Inventory of Active listed single-family homes, condos, and TICs in San Francisco rose 3.3% over the past two weeks (versus an average of 4.7% for the same two week period over the previous three years) and is now running 26.8% higher on a year-over-year basis (up 18.2% for single-family homes and 32.7% for condos/TICs) and 72.6% higher than at the same point in 2006.

Twelve percent (12.1%) of listed inventory in San Francisco is known to either be bank owned (REO) or seeking a short sale including One Rincon Hill (425 1st Street) #2307, 1870 Jackson #701 in Pacific Heights, and 2510 Jackson (which we profiled last year when asking $14,900,000).

The standard SocketSite Listed Inventory footnote: Keep in mind that our listed inventory count does not include listings in any stage of contract (even those which are simply contingent) nor does it include listings for multi-family properties (unless the units are individually listed).

∙ SocketSite's San Francisco Listed Housing Update: 3/16/09 [SocketSite]
∙ Listing: 425 1st Street #2307 (1/1) - $649,000 [MLS]
∙ Listing: 1870 Jackson #701 (2/2) - $975,000 [MLS]
∙ Listing: 2510 Jackson (7/6.5) - $13,495,000 [MLS]
∙ Fortunes Can Be Fleeting (And Mansions Can Be Foreclosed Upon) [SocketSite]

Posted by socketadmin at 5:30 AM | Permalink | Comments (29) | (email story)

March 27, 2009

For The Love Of Fridays And 433 Lovell Across The Way (Mill Valley)

We were tempted to simply write "too beautiful to describe," but we didn't. It’s been in DWELL, but we won’t hold that against it. And yes, it's in Mill Valley on half an acre.

Completed in 2006 by its architect owners, 433 Lovell features four bedrooms, three and one-half baths, and around 4,000 square feet (not including the tree house out back).

Not yet listed or official inventory, but coming soon and seeking $4,175,000.

∙ Listing: 433 Lovell Avenue, Mill Valley (4/3.5) - $4,175,000 [433lovell.com]
∙ A Maybeck On The Market (And Display) Once Again: 270 Castenada [SocketSite]
∙ Quezada Architecture [thinkqa.com]

Posted by socketadmin at 6:30 PM | Permalink | Comments (16) | (email story)

A Maybeck On The Market (And Display) Once Again: 270 Castenada

If you missed seeing 270 Castenada (a.k.a. 1916 Erlanger house) a year ago, don't let it happen again. In the words of its architect Bernard Maybeck (think Palace of Fine Arts):

The house is our attempt to suggest the idea of an English character in California. Although this house would never happen in England, it yet has an English feeling. The lower wing is a chapel form living room greatly used in an early period, the ceiling of this room is very similar to one in Sainesbury Hill Lancashire. The second story windows are of iron like their English prototypes. The building and its setting among the trees loudly proclaims the good taste of Mrs. and Mr. Erlanger from whom the suggestions came.

Asking $3,890,000 and briefly in contract before being withdrawn last April, listed at $2,995,000 today. Still touting "too beautiful to describe" despite Maybeck's (and the Vernacular Language North) attempt.

∙ Listing: 270 Castenada (4/3.5) - $2,995,000 [MLS]
∙ Vernacular Language North: S. Erlanger house [VLN]
∙ Bernard Maybeck: California Architect [harvardsquarelibrary.org]
∙ A Peek Inside 270 Castenada (And Now About Those Drawings...) [SocketSite]
∙ Too Beautiful To Describe (Except By The Architect): 270 Castenada [SocketSite]
∙ Past Post And Property Update: Listing For 270 Castenada Withdrawn [SocketSite]

Posted by socketadmin at 11:15 AM | Permalink | Comments (44) | (email story)

The Dow Continues To Move (While 2170 Pacific Still Hasn’t)

It’s at least the fourth time a listing for 2170 Pacific Avenue has touted "On Tour as New" and "1st OPEN!" Now asking $2,995,000 with an official one day on the market according to those industry stats.

Purchased on 5/27/2004 for $2,350,000. Once again, closing price for the Dow Jones Industrial Average on that day: 9,958. On October 10, 2008 when last listed at $3,250,000: 8,174. And currently: 7,787.

∙ Listing: 2170 Pacific Avenue (3/3.5) - $2,995,000 [MLS]
∙ At Least Some Of The Photos Look To Be "New" As Well: 2170 Pacific [SocketSite]
∙ It's Deja Vu (But Not DJIA) All Over Again: 2170 Pacific Avenue Edition [SocketSite]

Posted by socketadmin at 10:30 AM | Permalink | Comments (13) | (email story)

1333 Green Street Back In Black And White (And Now 1331 As Well)

As we wrote last July:

Added on to the front of the lot where Imogen Cunningham once had her home and studio (1331 Green). Designed by Paulette Taggart. And now on the market as a TIC.

Asking $979,000 for 1333 Green at the time, asking $850,000 today (still without interior shots unfortunately). And this time 1331 Green is on the market as well (with photos).

∙ Listing: 1331 Green Street (3/2) - $2,000,000 (TIC) [MLS]
∙ Listing: 1333 Green Street (1/1) - $850,000 (TIC) [MLS]
∙ The Imogen Cunningham Trust [imogencunningham.com]
∙ Paulette Taggart Architects [ptarc.com]
∙ 1331-1333 Green In Black And White (In Honor Of Imogen) [SocketSite]

Posted by socketadmin at 9:15 AM | Permalink | Comments (5) | (email story)

And Then There Were Six - And One Resale - At The Hayes (55 Page)

According to the sales office there are only six new condos left to be sold at The Hayes (55 Page). And there are only two units currently listed for sale on the MLS (one of which is a two-bedroom penthouse re-sale asking $998,000 or $665 per square foot).

UPDATE: A bit of plugged-in insight on the aforementioned penthouse unit:

This unit shown is/was also listed for rent. I checked it out and while very nice, I didn't like that the whole place is carpeted. Owner/agent said it was previously rented to a banking couple who had lost their jobs and moved to Sac. Said they had been paying over $5000 for rent, then was listed at $4500 when I saw it, and recently saw it listed at $4200 I think.

Now asking for $4,000.

∙ Listing: 55 Page #820 (2/2) 1,500 sqft - $998,000 [MLS]
∙ Magnificent Penthouse w/excellent city view [Craigslist]

Posted by socketadmin at 8:00 AM | Permalink | Comments (9) | (email story)

March 26, 2009

Name Dropping Hollywood Style: Marquee Lofts #702

In terms of overall design and space we remain partial to Lighthouse Lofts #308, but in terms of a Hollywood-esque story we present the Marquee #702.

Another multi-unit combo (#701 and #702), the interior of the 2,300 square foot loft was designed by Stanley Saitowitz; it features a "custom designed steel audio cabinet" by sculptor Kyle Reicher (and wenge wood bookshelf by Robert Croutier); and it was Keanu Reeves' character’s apartment in the 2001 movie "Sweet November."

We’re digging the steel pocket doors, big windows, and easy access to the theaters below. And in keeping with the Hollywood theme, there’s a "sneak preview" tonight (3/26).

∙ Listing: 151 Alice B. Toklas Place #702 (2/2) - $1,800,000 [Alain Pinel] [MLS]
∙ The Lighthouse Lofts Apple Of Our Eye Returns (1097 Howard #308) [SocketSite]

Posted by socketadmin at 9:00 AM | Permalink | Comments (7) | (email story)

March 25, 2009

Caution: A Few Forward Looking Statements For 188 Haight

The parking out back is a bit funky, and its insides need some work, but we do like the bones of 188 Haight and its proximity to what could one day be.

∙ Listing: 188 Haight (4/2.5) - $1,095,000 [MLS]
∙ 55 Laguna: Approved On Appeal And In Front Of San Francisco’s BOS [SocketSite]

Posted by socketadmin at 10:00 AM | Permalink | Comments (17) | (email story)

The Lighthouse Lofts Apple Of Our Eye Returns (1097 Howard #308)

As we wrote about Lighthouse Lofts (1097 Howard) #308 when it was listed for $2,400,000 and sold for $2,450,000 in 2007:

Featuring 18-foot ceilings up high, and hickory and pecan hardwood floors down low; a glass enclosed shower and tub with views (in more ways than one)...

[At] 4,200 square feet of living space, unit #308 is actually a merger of three lofts into one. And yes, a merger of three monthly HOA payments [($1,199)] and two parking spaces to match.

As we added after the fact in 2007:

While the Brazilian owner…admittedly suffered through the first winter, the addition of two gas fireplaces has apparently made all the difference in the world (PG&E bills maxed out at around $200/month...and typically run under $100).

Also, it’s definitely loft living but the pictures don’t do it justice (especially the master bath and kitchen), the little touches are great (washer/dryer in the walk-in master closet; electric shades; sliding panels and storage), and the urban views (from the Federal Building to One Rincon) are to be appreciated.

And as we write today: the Lighthouse Lofts apple of our eye is back on the market and asking $2,300,000.

∙ Listing: 1097 Howard #308 (3/2.5) 4,207 sqft - $2,300,000 [MLS]
∙ The Lighthouse Lofts In General (1097 Howard), And #308 In Specific [SocketSite]

Posted by socketadmin at 7:00 AM | Permalink | Comments (24) | (email story)

March 23, 2009

Another Ex-Decorator Showcase Is Officially Listed: 2500 Divisadero

From coming soon in February to on the market today, with the listing of 2500 Divisadero at $10,000,000 over half a decade of San Francisco's most recent Decorator Showcase homes are officially up for sale.

Designed by Angus McSweeney and built in 1934, the Tudor was remodeled in 1999 to become a San Francisco Decorator Showcase home, and then again in 2005/2006.

A major renovation for the 1999 Decorator Showcase transformed this residence into more livable space when, among other things, the ceiling of the top floor was opened up and a major staircase was added. Under this same ownership the residence underwent an additional 2005/2006 renovation when all windows in the home were replaced, the kitchen wing was completely remodeled with a guest apartment added on the lower level, radiant heat was installed in the foyer and hallway.

Purchased pre-remodel(s) for $3,825,000 in November of 1998, highlights include the five bedrooms (not including the apartment), a home theater, "Gentleman's Bar" and library.

∙ Listing: 2500 Divisadero (6/5) 8,671 sqft - $10,000,000 [MLS] [sffinehomes.com]
∙ Decorator Showcase Miss 2000 Officially Hits The Market On Broadway [SocketSite]

Posted by socketadmin at 4:00 PM | Permalink | Comments (34) | (email story)

From One Of Six To One Of Eight At The Hamilton (631 O’Farrell)

Listed for $379,000 last July then reduced to $369,000 and threatening "last chance before being withdrawn," 631 O’Farrell #504 was in fact withdrawn from the MLS.

Now back on the market in March asking $349,000. There were six studio condos in the Hamilton listed from $369,000 to $399,000 late last year, there are eight condos in the building priced from $289,900 to $399,000 listed today.

Purchased for $285,000 in January of 2005 (no word on improvements since). And the most recent sale in the building appears to be #1410: purchased for $360,000 in October of 2005, closed escrow on March 3, 2009 for a reported $270,000.

UPDATE: A sad bit of color on the recent sale of #1410:

#1410 was destroyed by someone who had a drug problem. The person owned the property, it was taken back by the bank, and then the person ended up squatting there. The person sold some of the items in the unit to pay for drugs. So, the unit was trashed, and it should not be used as a comparison for other units.

∙ Listing: 631 O’Farrell #504 (0/1) - $349,000 [MLS]
∙ Pay For 520, But Live Like 800 (With Bonus Points For “Trendyloin”) [SocketSite]

Posted by socketadmin at 9:45 AM | Permalink | Comments (17) | (email story)

Three At Three Hundred Beale Priced At One Point Three (Nine Five)

Asking $1,595,000 early last October, Embarcadero Lofts #406 was re-listed in February asking the same, reduced by $100,000 two weeks later, and then by another $100,000 two weeks after that. Now asking $1,395,000 as are 300 Beale #609 (listed in February as well) and 300 Beale #611 (listed in March).

∙ Listing: 300 Beale #406 (2/2) 1,686 sqft - $1,395,000 [MLS]
∙ Listing: 300 Beale #609 (2/2.5) 1,899 sqft - $1,395,000 [MLS]
∙ Listing: 300 Beale #611 (2/2.5) 1,820 sqft - $1,395,000 [MLS]
∙ You’ve Seen Two, But You Haven’t Seen Them All: 300 Beale #406 [SocketSite]
∙ Loft By Nature, Luxury By Design: Embarcadero Lofts (300 Beale) [SocketSite]

Posted by socketadmin at 8:30 AM | Permalink | Comments (19) | (email story)

March 20, 2009

The Waller Street Four Seasons "Fall" (1333) On The Market In Winter

This remodeled San Francisco Queen Anne is "Fall" in the row of "Four Seasons" Victorians on Waller (1333 Waller) and has been on the market for a few weeks asking $1,895,000.

Purchased for $1,850,000 in October of 2005. And no word on any explict deed restrictions should you feel like projecting more of a Spring soul.

∙ Listing: 1333 Waller (4/2.5) - $1,895,000 [Nina Hatvany] [MLS]

Posted by socketadmin at 10:15 AM | Permalink | Comments (22) | (email story)

March 18, 2009

From Coming Soon To On The Market To Up For Rent: 1391 Clayton

On the market last October asking $2,795,000 and then relisted in January for $100,000 less, 1391 Clayton has hit Craigslist as a rental asking $7,500 per month. We’ll let you run your own numbers, but be sure to show your work if you do.

∙ Listing: 1391 Clayton (4/4.5) - $2,695,000 [MLS]
∙ $7500 / 4br - New Modern View Home [Craigslist]
∙ From Coming Soon To On The Market And A Peek Inside: 1391 Clayton [SocketSite]
∙ To Rent Or To Buy, That Is The Question (That Only You Can Answer) [SocketSite]

Posted by socketadmin at 9:00 AM | Permalink | Comments (11) | (email story)

March 17, 2009

A "Prime" Bernal Heights Apple With "Plans" On the Tree: 84 Anderson

A plugged-in tipster points out 84 Anderson, a "Prime Bernal Heights" apple on the tree, and pretty much writes our post:

Purchased in [June] 2004 for $750,000 with 5% down…on the market for over a month or so at $829,000…now on the market for $787,000.

I've seen the house and its pretty small inside. But as far as location, this is prime small family Bernal.

Also noted by our tipster, "plans." From the 84 Anderson website:

This home has charm and character and you can move right in. However, there are extensive architectural drawings and plans available to the new buyer for a major expansion that includes vertical extension into the large stand-up attic.

No word on whether or not said plans have been vetted by the city (or neighbors).

UPDATE: Perhaps the plans have changed since their application in 2006, but as a plugged-in reader notes: "Not only is the work not permitted, it [was] cancelled and disapproved due to lack of response to the needed variances (yes, plural)." Word.

∙ Listing: 84 Anderson (3/1) -$787,000 [MLS] [84anderson.com]

Posted by socketadmin at 3:30 PM | Permalink | Comments (55) | (email story)

4214 26th Street: A Nicely Remodeled Noe Valley Apple On The Tree

We’re digging the decks and all the access to the outdoors of this nicely remodeled Noe Valley home. Oh, and the sweet master suite (we have a thing for spacious showers).

Purchased fully remodeled for $1,553,000 in June of 2007, 4214 26th Street was listed four days ago for $1,499,000. As always, if you’re not on record with your own forecast of where it sells, don’t bother to criticizing those who were when it does.

∙ Listing: 4214 26th Street (3/2) - $1,499,000 [4214-26th.com] [MLS]

Posted by socketadmin at 9:00 AM | Permalink | Comments (87) | (email story)

March 16, 2009

Live As Big As A Lurie (2100 Pacific Avenue #9 On The Market)

It’s a big (5,190 square feet) full-floor unit affording big San Francisco views (bridge to bridge and beyond) and a "big" San Francisco address (2100 Pacific).

And while there is some debate as to whether or not the Luries ever resided at 2601 Lyon, there's no debate with respect to 2100 Pacific #9 (they did).

∙ Listing: 2100 Pacific Ave #9 (5/5.5) - $9,950,000 [MLS]
∙ Dear Diary, San Francisco Sure Has Changed For Royal Real Estate… [SocketSite]

Posted by socketadmin at 12:45 PM | Permalink | Comments (22) | (email story)

March 13, 2009

From The Portfolio To The Market In Bernal Heights (141 Elsie)

From the listing for 141 Elsie:

Bernal Heights Architectural Jewel. Built by a local architect as his personal residence and featured in many local and international publications, this modern lofty home exudes style and comfort!

We’re digging the "urban loft" vibe, built-ins, and urban Aspens out back.

And the aforementioned but unnamed architect? That would be Jerry Veverka.

∙ Listing: 141 Elsie (2/2) - $1,195,000 [MLS]
∙ Veverka Architects [veverka.com]

Posted by socketadmin at 10:15 AM | Permalink | Comments (65) | (email story)

There Can Only Be One…Broker’s Tour For 1931 Lyon

From the listing for 1931 Lyon (which doesn't appear to be identified by address on the MLS): "We will be holding one, and only one, broker's tour on tuesday march 17th from 10:00-12:00, and then by appointment only from then on." We’ll keep you plugged-in.

∙ Listing: 1931 Lyon (3/2.5) - $2,450,000 [MLS]

Posted by socketadmin at 9:00 AM | Permalink | Comments (23) | (email story)

Can You Be More Specific On The Kind Of Dream? (45 Rosewood Drive)

Purchased for $1,589,000 in June of 2006 and then remodeled, 45 Rosewood Drive is back on the market up in Monterey Heights and listed for $1,595,000.

While the listing notes "A dream home!" we have a funny feeling zero appreciation over the past two and one-half years and after a remodel isn’t exactly the kind of American dream many were recently sold. That's assuming a sale at asking of course.

Then again, perhaps they'll get 42 offers.

∙ Listing: 45 Rosewood Drive (4/3.5) - $1,595,000 [MLS]
∙ CBS Calls It A "Real Estate Rebound In San Francisco" [SocketSite]

Posted by socketadmin at 8:45 AM | Permalink | Comments (149) | (email story)

March 12, 2009

Green Street TIC Trio (768-772) Now Playing Back In North Beach

It’s a trio of newly remodeled three-bedroom TIC flats (one with three baths) in North Beach. All with one car parking and a top floor unit with some big bay views off the back.

UPDATE: A plugged-in reader with excellent organizational skills adds to the story. From flyers for the three units when on the market back in March of 2007:

∙ The building was Ellis Acted on April 30th 2004 (i.e., five year window just about up)
∙ Asking $1,450,000 for 768 Green in 2007 (currently asking $1,395,000)
∙ Asking $1,450,000 for 770 Green in 2007 (currently asking $1,450,000)
∙ Asking $1,695,000 for 772 Green in 2007 (currently asking $1,755,000)

All three had already been remodeled at the time.

∙ 768-772 Green Street: $1,395,000 to $1,755,000 [772green.com]
∙ Listing: 772 Green Street (3/2) - $1,755,000 (TIC) [MLS]

Posted by socketadmin at 9:00 AM | Permalink | Comments (35) | (email story)

The Latest Exhibit (And Apple) At Museum Parc: 300 3rd Street #504

A Museum Parc and neighborhood sales comp back in December of 2005 at $660,000 ($740 per square foot), 300 3rd Street #504 was bought back by the bank for $608,811 in December of 2008. And the one-bedroom was just listed for $517,800 ($580 per square).

As an aside, keep in mind that peek-a-boo view of 680 Folsom should be getting better, not worse, over time.

∙ Listing: 300 3rd Street #504 (1/1) - $517,800 [MLS]
∙ Wet Weekend Special (And Scoop): The Designs For 680/690 Folsom [SocketSite]

Posted by socketadmin at 8:00 AM | Permalink | Comments (20) | (email story)

March 10, 2009

A $3,000,000 Reduction (That Might Not Seem Like So Much To Some)

It was the 2007 Decorator Showcase Home and has been on the market for over two years (an "official" DOM of 690). It was initially listed for $55,000,000 in early 2007 and received a rumored four offers a few months later (which were all countered at asking and all walked away). And it was reduced to $48,000,000 on March 6, 2008.

Yesterday the list price for 2901 Broadway was reduced another $3,000,000 (now asking $45,000,000). And while a $3,000,000 reduction might normally drop some jaws, do keep in mind that's a little over 6%. And since March 6, 2008 the Dow has dropped 46 (percent).

∙ Listing: 2901 Broadway (7/7.5) - $45,000,000 [2901broadwaystreet.com] [MLS]
∙ If You Have To Ask (2901 Broadway) [SocketSite]
∙ Your Chance To Slip Inside 2901 Broadway [SocketSite]
∙ Go Ahead And Ask: 2901 Broadway Is Listed (And Priced) [SocketSite]
∙ Rumor Has It: Four Offers On The 2007 Decorator Showcase Home? [SocketSite]

Posted by socketadmin at 6:30 AM | Permalink | Comments (15) | (email story)

March 9, 2009

The Mysterious Case Of The Baker Street Trio: 3271, 3212 and 3520

While the list price for 3271 Baker Street has once again been reduced (now asking $2,195,000, 35% under its original list of $3,395,000 last July) another recently renovated single-family home on Baker (3212) has hit the market asking $4,250,000 (purchased for $2,306,000 in March of 2006 prior to its "no expense spared" renovation).

And curiously enough, a bit down the block and directly across from the Palace of Fine Arts 3520 Baker Street has been listed for $3,500,000.

Purchased for $3,350,000 in January of 2001 but renovated before (1997), the sale of 3520 Baker Street will be "apples to apples" as far as we can tell. And as such, a sale at asking would represent average annual appreciation of 0.5% over the past eight years for this rather "prime" Marina (District 7-A) home.

∙ Listing: 3271 Baker Street (4/2.5) - $2,275,000 [3271bakerstreet.com]
∙ Listing: 3212 Baker Street (5/3) - $4,250,000 [MLS]
∙ Listing: 3520 Baker Street (4/3.5) - $3,500,000 [MLS]
∙ Spanish/Mediterranean Flair From Traditional To Modern: 3271 Baker [SocketSite]

Posted by socketadmin at 8:30 AM | Permalink | Comments (57) | (email story)

March 6, 2009

The Wonderful World Of Warehouse Twos (650 Delancey #112)

The oversized arched window caught our attention while the modern kitchen (with two Sub-Zeros) kept us looking.

The four headed and two-toned (not to mention two-person) shower got a nod.

And one other Oriental Warehouse two we couldn't help note: parking spaces.

UPDATE: A plugged-in comment we couldn't help but highlight:

This unit is the largest unit in the building at approx 1800 sq feet. There's not much of a view out the huge carriage window (unless you like the Brannan gym -- which can be fun), but still a striking space. The mezzanine is large and runs the full length of the unit with a walk-in closet, laundry room/study, and bedroom. I used to own this unit and it is really great to see what the subsequent owners did with it. Great job!

Cheers. And as always, thank you for plugging in.

∙ Listing: 650 Delancey #112 (2/2) - $1,695,000 [MLS]
∙ The Oriental Warehouse (650 Delancey) [SocketSite]

Posted by socketadmin at 10:00 AM | Permalink | Comments (66) | (email story)

Our Noe Valley Romanesque Victorian Apple Returns (1507 Dolores)

Our "Romanesque Victorian" apple at 1507 Dolores has retuned to the market with a new listing and a new price. Now asking $1,198,000.

Once again, purchased for $1,310,000 in February of 2006, returned to the market in November of 2008 asking $1,349,000, and was reduced to $1,295,000 before being withdrawn.

∙ Listing: 1507 Dolores Street (3/3) - $1,198,000 [1507Dolores.com] [MLS]
∙ A New Noe Valley Apple Varietal On The Tree: "Romanesque Victorian" [SocketSite]

Posted by socketadmin at 9:00 AM | Permalink | Comments (58) | (email story)

March 5, 2009

You’ve Gotta Have Shouldn’t Have Had Faith? (110 Faith Street)

It was a Bernal Heights "neighborhood comp" at $720,000 back in October of 2005. And we're pretty sure its challenging location hasn’t suddenly changed since.

Back on the market as a short sale today. Asking $599,000.

∙ Listing: 110 Faith (3/2) - $599,000 [MLS]

Posted by socketadmin at 10:30 AM | Permalink | Comments (59) | (email story)

Cognitive Listing Dissonance At The Watermark (501 Beale #14D)

Originally listed as a Watermark resale for $1,585,000 last July, from a listing later last year: “Views Galore 501 Beale #14D Offered at $1,499,000 Extraordinary price reduction!”

From a listing after that: “Buyers and Agents, now is the time to take advantage of this price!” Asking $1,399,000 at the time.

From the listing today: “Great Opportunity!! Take advantage of HUGE PRICE REDUCTIONs and 1 yr. HOA concession. Motivated sellers!!” Now asking $1,365,000.

And from public records: purchased for $1,303,500 in September of 2006 (not including any incentives). Cognitive listing dissonance (TM) is the first thing that comes to mind.

∙ Listing: 501 Beale #14D (2/2) - $1,365,000 [MLS]

Posted by socketadmin at 9:00 AM | Permalink | Comments (42) | (email story)

March 3, 2009

Simply Three Perspectives On 106 Jordan Ave (And Perhaps A Fourth)

It’s simply three perspectives on 106 Jordan Avenue. From the front above and a peek inside its "4,900 square feet" below.

And from behind...

A fourth perspective? We’ll leave that up to you.

∙ Listing: 106 Jordan Avenue (4/4.5) - $3,695,000 [MLS]

Posted by socketadmin at 7:30 AM | Permalink | Comments (28) | (email story)

March 2, 2009

Some Will Call It Yet Another Anecdote, We’ll Call It An Apple To Be

3730 26th Street is a single-family home on the edge of Noe Valley that was last touted as a neighborhood sales comp in June of 2004 when purchased for $1,250,000.

Now granted, there are more parking spaces (two) than baths (one a one-half), but the kitchen has been remodeled. And just like its location, none of these things have changed in the past five years. That being said, currently asking $1,148,000.

∙ Listing: 3730 26th Street (2/1.5) - $1,148,000 [MLS]

Posted by socketadmin at 8:30 AM | Permalink | Comments (59) | (email story)

February 27, 2009

Say Hello To Our Not So Little Friend On Hoffman (22 Hoffman)

Purchased for $952,000 in May of 2002, completely remodeled in 2004 (by Ryan no less), and on the market today for $2,199,000. Say hello to our not so little (four bedrooms, three and one-half baths) friend on Hoffman (22 Hoffman to be precise).

UPDATE: And as a number of plugged-in readers note, San Francisco Fire Station 24 across the street (100 Hoffman):

∙ Listing: 22 Hoffman Avenue (4/3.5) - $2,199,000 [22hoffman.com] [MLS]

Posted by socketadmin at 6:00 AM | Permalink | Comments (36) | (email story)

February 26, 2009

The Juxtaposition Of Two Potential Sale Pairs For One Noe Property

Purchased for $1,076,000 in March of 2004, 601 Grand View Avenue atop 24th Street returned to the market three weeks ago with a list price of $1,195,000.

Reduced to $1,095,000 two weeks later, a sale at the current asking would represent average annual appreciation of 0.35% over the past five years for this single-family Noe Valley home with mid-century modern bones.

It’s an interesting juxtaposition with the previous sale pair for the property: sold for $655,000 in January of 2002 which represents average annual appreciation of 26% from 2002 to 2004.

∙ Listing: 601 Grand View Avenue (3/2) - $1,095,000 [MLS]

Posted by socketadmin at 5:30 AM | Permalink | Comments (59) | (email story)

February 25, 2009

Riders On The Storm (The Doors Of 55 Buena Vista Terrace Reduced)

As we wrote in September of 2008 when listed for $3,395,000:

It’s a 1905 Edwardian that’s been redesigned by architect Jonathan Feldman and interior designer Joseph Oroza (the seller). Big glass doors with some big city views.

And it still is (and still has). But as a tipster notes today: 55 Buena Vista Terrace was re-listed last month and recently reduced to $2,695,000 (now 21% under original asking).

Purchased for $2,177,000 in April of 2006, but significantly remodeled since (including adding a new bathroom, turning outdoor space in, and remodeling the kitchen and dining).

∙ Listing: 55 Buena Vista Terrace (3/3.5) - $2,695,000 [MLS] [residentphotography.com]
∙ Big Swinging…Doors (And Here Comes The Competition) [SocketSite]

Posted by socketadmin at 4:15 PM | Permalink | Comments (23) | (email story)

February 24, 2009

Trying To Catch The Market Over At One Rincon Hill (425 1st #2307)

Originally seeking $849,000 as a resale, the listing for One Rincon Hill #2307 was reduced down to $749,998 and then withdrawn from the MLS after 200+ days.

Returning to the MLS 21 days ago asking $699,000, the list price for the northeast corner and 819 square foot 425 1st Street #2307 was just reduced to $649,000.

∙ Listing: 425 1st Street #2307 (1/1) - $649,000 [MLS]
∙ One Rincon Hill (425 First Street): Secondary Market Stumbles [SocketSite]

Posted by socketadmin at 4:30 PM | Permalink | Comments (49) | (email story)

An Appreciation (Just Not "Appreciation" Per Se) For 2668 Vallejo

After last being listed for $6,350,000 in 2007 (and sold), 2668 Vallejo is back on the market for $8,500,000. Think renovation more than appreciation over the past two years.

According to permits, the basement was partially excavated and first turned into living space and then later converted into a two-car garage (complete with new curb cut). A wine cellar and workshop were added, bathrooms were spruced up, and the foundation was partially replaced.

More recently a three level addition on the back, a new roof deck up top, a media room extension down below, and a kitchen and master suite renovation inside were all kicked-off with an anticipated completion date of June 2009 ("an opportunity for the sophisticated buyer to select their finishes" in listing speak).

And while a sale for anything over $6,350,000 is sure to be counted and misreported by some (or some reports) as "appreciation," we trust that any plugged-in person would know it’s not. Regardless, we do appreciate the home.

∙ Listing: 2668 Vallejo (4/5) - $8,500,000 [ninahatvany.com]

Posted by socketadmin at 12:00 PM | Permalink | Comments (8) | (email story)

What's Fair Market For (The Bank Owned) 61 Fair Avenue In Bernal?

A Bernal Heights single-family (with in-law in the basement) sales comp in May of 2006 at $980,000, 61 Fair Avenue was bought back by the bank in December of 2008 for $949,862 (suggesting a bit less than 20% was put down).

Tenant occupied with "protection status undetermined" (which could have dashed some dreams). Back on the market today and asking $760,000.

∙ Listing: 61 Fair Avenue (4/2) - $760,000 [MLS]

Posted by socketadmin at 12:00 PM | Permalink | Comments (45) | (email story)

February 20, 2009

1470 Noe Steps Back Up To The Plate (And A Plugged-In Peek Inside)

If you’ve been plugged-in to SocketSite since 2006 you probably already know that 1470 Noe once belonged to Mr. Moises Alou. And that it was on the market in October of 2006 asking $1,949,000 (closed escrow for $1,865,000 in January of 2007).

You'd also know where to find a few interior shots of the home despite the fact that its new listing at $1,850,000 doesn’t offer any (or at least not yet). Oh, and that Moises paid $1,875,000 for the property in March of 2005.

∙ Listing: 1470 Noe (3/2.5) - $1,850,000 [MLS]
∙ Another On Noe (1470 Noe Street) [SocketSite]

Posted by socketadmin at 1:00 PM | Permalink | Comments (27) | (email story)

Now Up For Auction In The Marina (And Originally Asking $699,000)

Asking $699,000 when originally marketed by Brown & Co. but then re-listed, reduced and withdrawn at $549,000 last month, 3731 Fillmore Street #2 is back on the MLS with a "list price" of $295,888 (from the listing: "Must sell by tuesday, february 24th. Auctioned to the highest bidder at the property.”).

Keep in mind it’s one of six units in a TIC building and the parking is leased. And do let us know if you go (or figure out at what time).

UPDATE: Additional insight from a plugged-in agent:

5 of the 6 are vacant, so expect 4 more to hit the market soon. #6 sold for $710k in Oct '08.

My guess is they are about 800 SqFt, maybe a bit more. Definitely could be sold as a 2BR since the dining room has a closet and window. Also has laundry hook ups in each apartment, and there is a garage, but they are selling spots separately. Roof deck is spectacular, small shared yard is just OK.

Not great news for the buyers of number six (who might share the last name of Brown).

∙ Listing: 3731 Fillmore #2 (1/1) – $295,888 (auction) [MLS]

Posted by socketadmin at 10:00 AM | Permalink | Comments (101) | (email story)

Bank Owned Single-Family Fixer On The Border In Bernal (75 Bronte)

The bank bought it back last September for $600,000. And with a tax assessed value of $27,691 at the time, we’re guessing a bit of "ghost equity" might have been withdrawn.

Now asking $384,900 for this single-family fixer (but not all that bad looking) home on the border in Bernal. No word on who was responsible for the previous lender's appraisal.

∙ Listing: 75 Bronte Street (0/1) - $384,900 [MLS]

Posted by socketadmin at 7:00 AM | Permalink | Comments (28) | (email story)

February 19, 2009

A Potential Single-Family Apple Atop Potrero Hill: 1409 20th Street

It’s a single-family "No. slope" Potrero Hill home with two bedrooms, a split bath, one car parking and "lower level & attic expansion potential!" There’s a deck with urban views off the back and a playground out front as there were in May of 2005 when purchased for $860,000.

A sale at asking would represent average annual appreciation of 1.5% over the past three and three-quarter years for 1409 20th Street. And if you’re planning on playing the "I told you so card" with respect to its eventual sales price, go on record now or forever hold your peace (bulls and bears alike).

UPDATE: Additional background from a plugged-in reader: "This place started as a pocket listing at 949K a few weeks ago."

∙ Listing: 1409 20th Street (2/1) - $899,000 [MLS]

Posted by socketadmin at 7:30 AM | Permalink | Comments (34) | (email story)

February 18, 2009

Dear Diary, San Francisco Sure Has Changed For Royal Real Estate…

As a plugged-in sleepiguy notes, 2601 Lyon is back on the MLS and listed for $6,399,500 (versus $8,250,000 last August). Once again, purchased for $5,750,000 in March of 2000 and "renovated throughout" its 4,126 square feet in 2002.

Yes, loose ties to The Princess Diaries (and possibly the Luries as well). And we do love the location and roof deck.

∙ Listing: 2601 Lyon (4/3) - $6,399,500 [MLS]
∙ A Shorter Set Of Lyon Street Steps (And A Few Numbers): 2601 Lyon [SocketSite]

Posted by socketadmin at 12:15 PM | Permalink | Comments (37) | (email story)

Apples To Apples (If You Ignore The New Bath): 2203 Broderick

Purchased for $2,000,000 in June of 2004, 2203 Broderick in the heart of Pacific Heights returned to the market with a remodeled bath in October of 2008 asking $2,395,000. Reduced to $2,195,000 in November, and now asking $1,975,000 as of nine days ago.

A sale at asking would represent zero appreciation over the past four and one-half years. But do avoid the temptation to see that as "prices in Pacific Heights have been holding steady since 2004" versus having risen and are now falling since.

∙ Listing: 2203 Broderick (3/2) - $1,975,000 [MLS]

Posted by socketadmin at 8:00 AM | Permalink | Comments (45) | (email story)

February 17, 2009

A Street, Agent And Now A Price In Common Too: 4432 19th Street

While it took the listing for 4552 19th Street a few reductions to join the Eureka Valley chapter of the million dollar cut club, down the street 4432 19th has done so in one fell swoop: previously seeking $3,999,000, now listed for $2,999,000.

Extensively renovated [beware the background tunes] and retrofitted since purchased for $1,200,000 in 2001, this District 5 single-family home is currently asking $750 per square foot based on its reported 4,000 square feet.

It's worth noting that both 19th Street listings share the same agent. And while it could be a cosmic coincidence, and the public facing listing doesn’t note a licensed agent owner, it’s a data digging reader that notes the agent and owner (at least in trust) for 4432 19th Street do appear to share the same name.

∙ Listing: 4432 19th Street (5/5.5) - $2,999,000 [MLS] [4432-19thst.com]
∙ 4552 19th Street Joins The High-End Half Million Dollar Cut Club [SocketSite]
∙ 4552 19th Street Joins The High-End Half-Million Dollar Cut Club [SocketSite]

Posted by socketadmin at 9:00 AM | Permalink | Comments (19) | (email story)

Two Well Designed Data Points We Wouldn't Dismiss Out Of Hand

Purchased for $1,126,000 in 2005, remodeled and returned to the market for $1,195,000 in June of 2008, the Henry Hill home at 2209 9th Avenue was withdrawn without selling in July. Back on the market today and listed for $995,000.

We can't call it an "apple" for a couple of reasons (including the view blocking new home next door), but we also wouldn't dismiss this well designed data point out of hand.

Speaking of well designed, and as a plugged-in reader noted last week, the Joseph Leonard designed 25 Mercedes Way has reduced its asking price to $1,979,000.

On the market for $1,895,000 in April of 2007 and sold for $2,200,000 in May, this updated Arts & Crafts home in Ingleside Terrace returned to the market in October of 2008 with a few updates and originally asking $2,099,000.

∙ Listing: 2209 9th Avenue (2/1) - $995,000 [MLS]
∙ Listing: 25 Mercedes Way (5/3) - $1,979,000 [MLS]
∙ Mid-Century Modern That’s Been Remodeled: 2209 9th Avenue [SocketSite]
∙ Another Mid-Century Modern Casualty: A Shift In Tastes Or Appetites? [SocketSite]
∙ We’re Buying It (The Description Not The House) [SocketSite]
∙ Still An Architectural Work Of Art, But Still A Bidding War To Be? [SocketSite]

Posted by socketadmin at 6:00 AM | Permalink | Comments (75) | (email story)

February 13, 2009

Will The Twelfth Time Be The Charm? 830 El Camino Del Mar Returns

From a plugged-in reader last June:

I know this house and [had] spoken with this owner decades ago. Since 1998 he has put it on the market 11 times, each time with a [high-end/profile] realtor at an improbable price.

Make that twelve. 830 El Camino Del Mar is back on the market asking $15,000,000. And while that's $3,000,000 less than eight months ago, it's also $6,000,000 more than was being asked in 2002.

Once again, two bedrooms and under 4,000 square feet, but "approved plans for a huge [penthouse] addition sure to be the world's most dynamic master" are included.

Our estimated cost to actually affect said addition on this particular home? Priceless...

UPDATE: With new photos added to the listing since we first posted and an "interactive brochure" now online (complete with soothing wave sounds), our piece on 830 El Camino Del Mar heads back to the top of the page.

∙ Listing: 830 El Camino Del Mar (2/2.5) - $15,000,000 [seacliffsentinel.com] [MLS]
∙ Behind The Great Wrought Iron Wooden Gate At 830 El Camino Del Mar [SocketSite]
∙ Secluded Sea Cliff home on the market for $9 million [SFGate]

Posted by socketadmin at 10:30 AM | Permalink | Comments (74) | (email story)

An "Exciting New Price" (And Club Initiation) For 3577 Pacific Avenue

Touting an “Exciting new price!” of $5,995,000, the newly renovated 3577 Pacific Ave has just joined our quickly growing high-end million dollar cut club.

That’s assuming you count the three days at which it was originally listed for $7,700,000 (now 22% lower). If not, it’s now only $955,000 (14%) under its last price of $6,950,000.

UPDATE: And from a plugged-in reader, the full floor plan monty (pdf).

∙ Listing: 3577 Pacific Avenue (6/4) - $5,995,000 [MLS]
∙ 4552 19th Street Joins The High-End Half Million Dollar Cut Club [SocketSite]
∙ 3577 Pacific: Inside Its Newly Contemporary Soul (And Market's Mind) [SocketSite]

Posted by socketadmin at 10:30 AM | Permalink | Comments (21) | (email story)

Decorator Showcase Miss 2000 Officially Hits The Market On Broadway

Another past Decorator Showcase home has officially hit the market. This time it’s Miss 2000 at 2601 Broadway sporting seven bedrooms, six and one-half baths, and almost 10,000 square feet of “down to the studs” remodeled and retrofitted living space.

A listed price of $15,500,000. And if a few more San Francisco Showcase homes hit the market, we’ll have a decade of homes from which to choose.

∙ Listing: 2601 Broadway (7/6.5) - $15,500,000 [MLS]

Posted by socketadmin at 9:45 AM | Permalink | Comments (18) | (email story)

February 12, 2009

BLU Cuts Pre-Sale Required Green To $575,000 (And Up To 26%)

According to the sales office over at BLŪ, the "starting price" cuts of 17 to 22% as reported by SF New Developments are in direct response to a fast approaching 25% pre-sale requirement (currently 10% of 108 units in contract), and aren't expected to last past their first round of closings in 60 or so days. As always, time, the market and SocketSite will tell.

The pre-sale starting price adjustments according to SFND:

“A” Plans: Originally from $925,000, currently from $743,000 (down 20%)
“B” Plans: Originally from $809,000, currently from $631,000 (down 22%)
“C” Plans: Originally from $799,000, currently from $622,000 (down 22%)
“D” Plans: Originally from $930,000, currently from $743,000 (down 20%)
“E” Plans: Originally from $739,000, currently from $575,000 (down 22%)
“F” Plans: Originally from $809,000, currently from $673,000 (down 17%)

And it's a plugged-in tipster that points out some specific unit price cuts of up to 26%:

631 Folsom #3B: Originally $749,000, now $630,000 (down 16%)
631 Folsom #6A: Originally $985,000, now $799,000 (down 19%)
631 Folsom #PHE: Originally $2,527,358, now $1,862,358 (down 26%)

UPDATE: The 25% pre-sale requirement insight was added for additional color (and accuracy). And yes, it's officially turned into one of those days.

Full Disclosure: BLU currently advertises on SocketSite but provided no compensation for (nor had any prior knowledge of) this post. They did, however, inform our update.

∙ Listing: 631 Folsom #3B (2/2) - $630,000 [MLS]
∙ Listing: 631 Folsom #6A (2/2) - $799,000 [MLS]
∙ Listing: 631 Folsom #PHE (3/3) - $1,862,358 [MLS]
∙ A Reader Starts Singing The BLŪ’s (631 Folsom Website Now Live) [SocketSite]
∙ BLU Slashes Prices - now starting at $575,000! [SF New Developments]

Posted by socketadmin at 12:30 PM | Permalink | Comments (60) | (email story)

4552 19th Street Joins The High-End Half Million Dollar Cut Club

With a $300,000 cut late yesterday, the recently renovated 4552 19th Street in District 5 joins the high-end million dollar (and over 30%) price cut club. Now asking $2,999,000 or $1,300,000 less than what was expected in October.

Also reduced late yesterday, 3271 Baker Street is now listed for $2,275,000. Hitting the market last July asking $3,395,000, expectations for the recently renovated (hmm...) Marina home have been lowered by $1,120,000 or 33% over the past seven months.

Keep in mind that MLS based industry reports on the state of the San Francisco real estate market now reflect 33 days on the market and a 12% drop from its "original" list price of $2,595,000 in January for 3271 Baker Street.

But hey, what’s six months, $800,000 and 20% between friends?

∙ Listing: 4552 19th Street (6/4.5) - $2,999,000 [MLS] [4552-19thst.com]
∙ Listing: 3271 Baker Street (4/2.5) - $2,275,000 [3271bakerstreet.com]
∙ 4552 19th Street Joins The High-End Half-Million Dollar Cut Club [SocketSite]
∙ Spanish/Mediterranean Flair From Traditional To Modern: 3271 Baker [SocketSite]
∙ Less Great Expectations: 3271 Baker Drops Its New Year Asking 24% [SocketSite]

Posted by socketadmin at 6:30 AM | Permalink | Comments (43) | (email story)

February 11, 2009

Bank Owned For The Past Year But Now On The Market: 279 Flournoy

279 Flournoy was purchased for $440,000 in October of 2003, bought back by the bank in January of 2008 for $486,023, and has now hit the market for $349,900. Perhaps a bit close to the 280 (and Daly City) for some, but for others that might be a bonus.

No comment on all the bars (not in terms of drinks). And no word on whether or not the bank had been waiting for a market rebound or other forces were at work.

∙ Listing: 279 Flournoy (3/2) - $349,900 [MLS]

Posted by socketadmin at 11:30 AM | Permalink | Comments (28) | (email story)

February 10, 2009

The Rather “Studly” Julian Waybur House (3232 Pacific) For Sale

The Julian Waybur House at 3232 Pacific Avenue is a “Historic [Ernest] Coxhead Shingle-Style Home with Presidio and Golden Gate Views.” And while it wasn't in bad shape “before,” it’s now down to the studs and awaiting a “green” renovation.

Coxhead's signature redwood paneling remains in the living room and the celebrated staircase has been restored off-site and is now ready for re-installation and finishing in place.

Included in the offering are preliminary plans by Page and Turnbull to create a luxury "green home" consisting of: 3 bedrooms, 3 full and two-half baths, living room, formal dining room, gourmet kitchen with breakfast area and recycling center, media room and study.

Full details, history and plans for 3232 Pacific are on a "special website," the address for which we somehow managed to surmise.

UPDATE: As a plugged-in “sleepiguy” notes, after the "before" but before any "after" there was an "in-between" (a.k.a. a fire).

∙ Listing: 3232 Pacific Avenue (3/4) - $2,500,000 [MLS] [3232pacific.com]

Posted by socketadmin at 12:00 PM | Permalink | Comments (77) | (email story)

30 Dore Goes The Rental For Sale Route And Offers A Bonus Bedroom?

Going the rental route in 2007, a handful of the 42 units at 30 Dore have been listed for sale by the developer over the past few days.

The floor plan and description for 30 Dore #211 on the developer’s website suggest it's a three-bedroom (with two full baths) for $609,000, while the MLS listing quotes only two (and two). Bonus points to the reader who can reconcile the two.

UPDATE: A plugged-in reader adds, previously asking $3,150 to rent #211 (but no word on what was actually obtained).

UPDATE: And from yet another: "Unit 505 was on the market in mid-2007 for $479,000." That was prior to going the rental route and asking $2,100. Once again offered for sale, only now asking for $439,000.

∙ Listing: 30 Dore #211 (2/2) - $609,000 [MLS] [tbcproperties.com]
∙ Listing: 30 Dore #505 (1/1) - $439,000 [tbcproperties.com]

Posted by socketadmin at 9:10 AM | Permalink | Comments (21) | (email story)

St. Regis Penthouse Now $21,000,000 Off (And No, That’s Not A Typo)

It’s a plugged-in reader that catches a slight change to the asking price for the Penthouse atop San Francisco’s St. Regis (188 Minna). Asking $70,000,000 in August of 2008, now listed on the Sotheby’s website for $49,000,000.

Once again, 20,000+ square feet (including 2,900 of terraces); six bedrooms (including a 2,500 square foot master suite) and seven full baths (four half); a thirteen-seat home cinema designed by Keith Yates; 22 foot floor-to-ceiling glass walls; and six car parking.

Purchased for roughly $30,000,000 as a raw shell in 2005, it’s been three years in the making, and as far as we know there’s still 15% to go (i.e., it’s 85% complete).

Full Disclosure: The co-listing agent for the penthouse atop the San Francisco St. Regis advertises on SocketSite but had no knowledge of this post.

∙ Listing: St. Regis (188 Minna) Penthouse - $49,000,000 [Sotheby’s]
∙ St. Regis Penthouse Asking $70M: Is San Francisco All Growns Up? [SocketSite]
∙ Inside The St. Regis Penthouse: The Rendering Scoop And Details [SocketSite]

Posted by socketadmin at 6:00 AM | Permalink | Comments (44) | (email story)

February 9, 2009

Mi Casa Es…Muy Sweet (And Large): 299 Santa Paula Avenue

It’s a rather spectacular Mediterranean styled villa up above St. Francis Woods, and they’re only asking $543 a square foot. Keep in mind, however, that at almost 11,000 square feet that's a total of $5,900,000 for 299 Santa Paula Avenue.

Rather gorgeous woodwork, incredible condition, great views and quite simply, living large.

∙ Listing: 299 Santa Paula Avenue (5/5.5) - $5,900,000 [299santapaulaave.com] [MLS]

Posted by socketadmin at 8:30 AM | Permalink | Comments (67) | (email story)

February 6, 2009

We're Not So Sure About “Neo-Moderne,” But We Do Like The Facade

No real story as far as we know, we just happen to like the façade of 289 Chestnut not to mention a few of its views.

And who hasn't been looking for an excuse to drop neomodern, or rather "neo-moderne."

∙ Listing: 289 Chestnut Street #1 (1/1) - $629,000 (TIC) [MLS]

Posted by socketadmin at 5:45 PM | Permalink | Comments (88) | (email story)

Another Friday, Another New Price: 943 Church Street One And Two

On the market last August asking $2,395,000, the list price for 943 Church Street #2 (once known as “B”) was reduced down to $1,950,000 before being withdrawn in December.

Back on the market for $1,895,000 in January, it’s a plugged-in reader that notes the list price has been reduced to $1,795,000 (now 25% under its original original asking). And at the same time, the lower unit (943 Church Street #1) which was once in contract when asking $1,995,000 has been reduced to $1,595,000.

UPDATE: As noted by another plugged-in reader, 943 Church Street #2 is also available for rent and asking $6,500 a month.

∙ Listing: 943 Church Street #1 (3/3) - $1,595,000 [MLS]
∙ Listing: 943 Church Street #2 (3/3) - $1,795,000 [MLS]
∙ It’s Friday, So Insert Cheeky Comment Here (943 Church Street #B) [SocketSite]

Posted by socketadmin at 10:00 AM | Permalink | Comments (30) | (email story)

A Modern Day Price Cut For A Modern Home: 313 Duncan Reduced

After 105 days on the market the list price for the Owen Kennerly designed "Modern Victorian" at 313 Duncan has been reduced $201,000 (7%). Now asking $2,649,000.

∙ Listing: 313 Duncan (5/5.5) - $2,649,000 [313duncan.com]
∙ Coming Soon: Victorians Gone Modern! (313 Duncan) [SocketSite]
∙ 313 Duncan: Before, After, And All Its Insides Now “Online” [SocketSite]

Posted by socketadmin at 6:30 AM | Permalink | Comments (39) | (email story)

February 5, 2009

A Million Dollar (Plus) Remodel Of A Multi-Million Dollar Floor Plan

It’s a coveted three-bedroom St. Regis “E” plan (the Gores have one a little higher) that’s been completely remodeled and reconfigured (at a budget of over $1,500,000) to live as a two-bedroom with a rather spectacular master suite (and perhaps the nicest St. Regis master bath we’ve seen).

Modern Art Deco vibe and details throughout inspired by the Pacific Telephone and Telegraph building in view across the way; impressive woodwork (Mozambique veneers, Wenge cabinetry, and unstained walnut floors) and finishes (custom nickel-plated pulls and silver leaf); and if nothing else, some top-notch property porn to peruse.

Tax records indicate an original 2,522 square feet and it’s expected to move from pocket listing to the MLS this weekend with a list price of $5,800,000.

Full Disclosure: The listing agent for 188 Minna #31E advertises on SocketSite but provided no compensation for this post. He did, however, provide a tour and additional information upon our request.

∙ Listing: 188 Minna #31E (3/2.5) - $5,800,000 [StRegisModerne.com]
∙ Conversion Of 140 New Montgomery Moves To Environmental Review [SocketSite]

Posted by socketadmin at 9:15 AM | Permalink | Comments (33) | (email story)

February 4, 2009

A Quick Change Of Expectations Strategy Price Up On The Gold Coast

After four days on the MLS the list price for 2712 Broadway up on San Francisco’s Gold Coast has been reduced from $9,495,000 to $7,750,000. It’s a big house with big views and still asking over $1,100 per square foot (down from $1,350).

∙ Listing: 2712 Broadway (7/5) - $7,750,000 [MLS]

Posted by socketadmin at 7:00 PM | Permalink | Comments (41) | (email story)

Welcome to 104 "Wonderful" Laidley (And A Lot Of Green)

Painted ladies and Tales of the City hillside abodes don’t have a monopoly on homes that scream old school San Francisco (if not only in the address, and in a good way as far as we're concerned). Welcome to 104 “Wonderful” Laidley (with which we'll agree).

And as an aside, "offered for rent on Craigslist a few weeks ago, asking $4K/month" according to an observant and plugged-in tipster.

UPDATE: A plugged-in reader adds:

I had some friends that rented the upstairs in that house (for much less than $4k iirc). It was wonderful, but the live-in landlord down in the basement and the neighbors were not. You weren't allowed to be in the garden or hot tub after 9PM or the neighbors would complain.

Obviously said landlord would no longer be an issue if you buy. No comment on the neighbors.

∙ Listing: 104 Laidley (3/2) - $1,095,000 [MLS]

Posted by socketadmin at 8:45 AM | Permalink | Comments (31) | (email story)

February 2, 2009

Soma Grand (1160 Mission): Reductions, Restaurant, And Inventory

Three months ago the three-bedroom/two-bath 1160 Mission #601 was listed for $999,000 or $751 per square for each of the 1,331 square feet. This weekend the Soma Grand condo #601 returned to the MLS with a list price of $765,000, a 23% reduction and now asking well under $600 per square foot ($574).

Also listed this weekend was 1160 Mission #1212 for $505,000/$759 per square foot. In August of last year 1160 Mission #1012 was asking $590,000 or $887 per square, an effective drop of at least 15% (i.e., not accounting for the higher floor premium).

At the same time Charles Phan’s Heaven’s Dog restaurant has opened its doors on the ground floor of the building (a nice amenity and addition to the neighborhood). And as best we can tell, Soma Grand is now roughly 60% sold (including 29 BMR units) with around a hundred (100) of the 246 units to go (up from 50% sold last May).

∙ Listing: 1160 Mission Street #601 (3/2) 1,331 sqft - $765,000 [MLS]
∙ Listing: 1160 Mission Street #1212 (1/1) - $505,000 [MLS]
∙ Soma Grand (1160 Mission) BMR Applications Are Now Available [SocketSite]
∙ SoMa Grand (1160 Mission) Update: Sales, Office, And Phan’s Food [SocketSite]

Posted by socketadmin at 12:30 PM | Permalink | Comments (56) | (email story)

Still Not An Official Apple Until It Sells, But A Suggestion (Or Two)

Our original post on 695 Grand View Avenue #101 sparked a good discussion with respect to real estate valuation and the frequently misrepresented misunderstood tax benefits of a mortgage.

At the time this condo was listed at a suggested short sale price of $489,000 (purchased for $552,000 in January of 2007). This morning that suggestion was reduced to $399,000.

∙ Listing: 695 Grand View Avenue #101 (1/1) - $399,000 [MLS]
∙ Noe Valley Apples to Apples With A View: 695 Grand View Ave #101 [SocketSite]
∙ Yesterday's Comment Of The Day: An All Too Common Misconception [SocketSite]

Posted by socketadmin at 11:00 AM | Permalink | Comments (25) | (email story)

Warm Thoughts (And Old School Elegance) On A Brisk Monday Morn

While wood burning fireplaces might not be environmentally correct (EC), we do love them. And even more, an old school San Francisco bridge view.

∙ Listing: 1998 Vallejo #7 (3/3) -$3,100,000 [MLS]

Posted by socketadmin at 8:30 AM | Permalink | Comments (35) | (email story)

January 30, 2009

4356 25th: A Modern Mid-Century Modern AIA Home Tour Home

To those who partook in the 2008 AIA San Francisco Home Tour it's the “Choy Residence.”

Neighbors in Noe Valley will recognize it as 4356 25th Street.

And to others it's simply that sweet Terry + Terry Architecture Mid-Century Modern inspired renovation with a killer kitchen, dining room and deck. Now listed for $2,579,000 with a brokers tour next week and a public open house (assuming it’s still available) as well.

∙ Listing: 4356 25th Street (3/3) - $2,579,000 [4356modern.com] [MLS]
∙ Terry + Terry Architecture [terryandterryarchitecture.com]

Posted by socketadmin at 5:30 PM | Permalink | Comments (28) | (email story)

January 29, 2009

But Don’t Buyers In Noe Know That "Prices" Are Up?

While 651 27th Street is now in escrow (listed for 20% under its last close), 525 27th Street #2 is still active and available. As a reader notes, purchased for $1,349,000 in October of 2006, listed for $1,495,000 in September of 2008, and reduced four times since.

Currently asking $1,195,000 for this Noe Valley condominium with three bedrooms/baths and panoramic city views. Don’t buyers in Noe know that "prices" are up?

∙ Listing: 525 27th Street (3/3) - $1,195,000 [MLS]
∙ On The Market (But Not The Public Facing MLS): 651 27th Street [SocketSite]

Posted by socketadmin at 9:00 AM | Permalink | Comments (79) | (email story)

January 28, 2009

Just Under $900,000 Originally, Asking Just Under $800,000 Today

Asking just under $900,000 (not including upgrades) when the sales office first opened (acording to a plugged-in Infinity resident). Asking just under $900,000 ($885,000) as a resale last month (and subsequently reduced down to $849,000). Asking just under $800,000 ($799,000) today for 301 Main Street #9E at Infinity.

∙ Listing: 301 Main #9E (2/2) - $799,000 [MLS] [Climb]
∙ Another Infinity Resale (#9E) Within Those "Restricted" Two Years [SocketSite]
∙ Infinity Sales Update: New Contracts Up But Driven By Discounts [SocketSite]

Posted by socketadmin at 7:00 AM | Permalink | Comments (78) | (email story)

January 26, 2009

On The Market (But Not The Public Facing MLS): 651 27th Street

A single-family home over in Noe Valley, 651 27th Street was purchased for $1,200,000 in February of 2004, was extensively remodeled in 2005 (“Design award-winner of Calif Home and Design in 2006! New kitchen, bath, and master-suite.”), and sold for $1,500,000 in November of 2007.

As a plugged-in reader notes, it’s back on the market and asking $1,195,000. And while you currently won’t find it by searching the public facing MLS, it’s been listed for 53 days.

∙ Listing: 651 27th Street (3/2) - $1,195,000 [Sue Bowie] [Prudential via Pacunion]
∙ Not Exactly A Slam Duncan: 1005 Duncan Returns (This Time Reduced) [SocketSite]

Posted by socketadmin at 10:30 AM | Permalink | Comments (56) | (email story)

The Royal Towers Developer’s Unit Returns (1750 Taylor #1701)

As we wrote in our September 2007 scoop:

Originally the developer’s unit, #1701 in The Royal Towers (1750 Taylor) boasts panoramic bridge to bridge (and everything in between) views, as well as the only gas range in the building (yes, it’s good to be the developer). And the 3,300 square foot three bedroom, four and one-half bath coop is now on the market for $7,000,000 (and $3,354 a month).

In contract a month later and closed for what tax records would suggest was around $6.8M (assessed value of $6,854,000 in 2008), the rather incredible (and almost incomparable) 1750 Taylor #1701 is back on the market today and asking $6,500,000. And interstingly enough, it appears the gas range is no longer (but there's now a built-in BBQ). Sweet.

∙ Listing: 1750 Taylor #1701 (3/4.5) 3,300 sqft - $6,500,000 [MLS]
∙ The SocketSite Scoop On Two In The Royal Towers (1750 Taylor) [SocketSite]
∙ From Rumor To Reality: The Royal Towers #1201 Gets Listed [SocketSite]

Posted by socketadmin at 7:15 AM | Permalink | Comments (21) | (email story)

January 23, 2009

Not Exactly A Slam Duncan: 1005 Duncan Returns (This Time Reduced)

Asking $1,238,000 in October of 2007 the agents for 1005 Duncan were unable to find a buyer. So they renovated (Eichler purists look away). And raised the price to $1,275,000.

Back on the market today once again as "new." And now asking $1,150,000.

UPDATE (1/26): From a plugged-in reader:

We looked at this house in '07 and seriously considered putting in a bid, but the agents told us that there were 7 other interested parties and we just weren't interested in putting up a fight….They allegedly got six bids on the offer date, but they declined to sell because they were looking for something over asking.

∙ Listing: 1005 Duncan (4/2.5) - $1,150,000 [MLS] [1005duncan.com]
∙ Duncan Chic (No, Not Sheik): An Eichler Up In Diamond Heights [SocketSite]

Posted by socketadmin at 5:15 PM | Permalink | Comments (24) | (email story)

It’s Not Quite 2004, But It’s Really Not 2008. Or 2007. Or 2006…

We’re not so sure "phatty" would agree, but perhaps it’s best he didn’t have that extra three million lying around last May when 650 2nd Street #502 hit the market asking $3,215,000. It’s back on the market today seeking $2,750,000. And yes, it's a sweet pad.

Once again, five bedrooms, four baths, three parking spaces, two dishwashers and one big span (60 feet) of industrial windows. And as Garrett notes, purchased for $2.3M in 2004.

∙ Listing: 650 2nd Street #502 (5/4) - $2,750,000 [MLS]
∙ The Full Count(Down) For Number Five Hundred And Two On Second [SocketSite]

Posted by socketadmin at 11:00 AM | Permalink | Comments (20) | (email story)

An Apple In The "Heights" Of Our Tree: 3444 Washington Reduced

From a plugged-in Sleepiguy when the rather handsome 3444 Washington hit the market last May asking $17,500,000: “This property sold a couple of years ago for 16.5 million.”

From the MLS today: now asking $15,750,000 with an "official" one day on the market.

UPDATE: It appears as though sleepiguy (or his agent) might have been thrown by an asterisk. From a plugged-in FSBO:

MLS shows the 1/31/2006 sale price as $16.5M with an *. Current assessed value is $15.8M - so the actual sale price was probably about $15.2M or so...

Cheers. And something tells us we’ll see another one when this sells (asterisk that is).

∙ Listing: 3444 Washington Street (6/6.5) - $15,750,000 [MLS]
∙ It's Not Often A Listing Can Tout A Private Outdoor Amphitheater [SocketSite]

Posted by socketadmin at 10:00 AM | Permalink | Comments (21) | (email story)

A Rather “Real” Apple On The Tree In The Marina: 1756 North Point

Purchased for $1,920,000 in April of 2007, the three-bedroom/bath condo known as 1756 North Point in the heart of the Marina (District 7a) hit the market last week with a list price of $1,795,000. From the listing:

Tastefully renovated with a blend of chic period detailing and discriminating modern elements, elegant details abound; Marble Baths, Crown Moldings, Graceful Roman Inspired Fireplace. Chestnut Street & Marina Green are a stone's throw away.

And while short holding periods might not make for the best real estate returns, they do make for better apples in terms of isolating movements in the market versus simply averaging a bunch of years out. As always, we’ll keep you posted and plugged-in.

∙ Listing: 1756 North Point (3/3) - $1,795,000 [MLS]

Posted by socketadmin at 8:45 AM | Permalink | Comments (43) | (email story)

January 22, 2009

A Marina Apple On The Tree (Again) And Asking $654 Per Square Foot

Purchased for $1,280,000 in November of 2004, the 2,217 square foot two-bedroom/bath condo at 1531 Beach Street returned to the market last year asking $1,550,000 ($699 per square foot) but failed to find its buyer.

Back on the market today for $654 per square foot ($1,450,000) in the Marina and an “official” 2 days on the market. A sale at the current asking would represent average annual appreciation of 2.9% over the past four and one-half years.

∙ Listing: 1531 Beach Street (2/2) - $1,450,000 [1531beach.com] [MLS]

Posted by socketadmin at 2:00 PM | Permalink | Comments (27) | (email story)

Throwing In The Towel Or Banking On A Bidding War?

As we wrote this past September:

The sales office for 368 Elm Street on the edge of Hayes Valley first opened its doors in November of 2006. At the time, 368 Elm Street #406 was priced by the developer at $589,000. And it sold.

Back on the market last month for $615,000, the list price has been reduced twice since. And yes, most recently by only $2,000 (obviously to catch all those buyers with a cutoff of $598,000...).

Now asking $597,000, a sale at which would represent annual appreciation of roughly 0.74% over the past two years.

Apparently annual appreciation of 0.74% was a bit too aggressive. Now asking $375,000.

∙ Listing: 368 Elm #406 (1/1) - $375,000 [via Pacific Union]
∙ A Hayes Valleyish New Construction Apple On The Tree: 368 Elm #406 [SocketSite]
∙ 368 Elm Street Condos: First Release Pricing And Scoop [SocketSite]
∙ 368 Elm Street Condos: Complete Pricing (And An Update) [SocketSite]

Posted by socketadmin at 10:15 AM | Permalink | Comments (30) | (email story)

New Year, Listing, And Price (Same Sweet Loft): 540 Delancey #401

If you liked it at $1,150,000 in September, you’ll like it even more today. Now asking $1,098,000 for Cape Horn Lofts (540 Delancey) #401.

∙ Listing: 540 Delancey #401 (1/2) - $1,098,000 [MLS] [openhomesphotography.com]
∙ Cape Horn Lofts (540 Delancey) In General, And #401 In Specific [SocketSite]

Posted by socketadmin at 9:45 AM | Permalink | Comments (30) | (email story)

January 20, 2009

The Future Façade Of 1409 Sanchez (Assuming Approved And Built)

As 1409 Sanchez looks today and as is proposed for a new two-unit building (both 2 bedrooms and 2.5 baths) with “plans & demolition set to have final approval on 2/14/09."

Asking $1,250,000 in its current state but "plans/fees & permits included w/ purchase." Again, assuming they're approved. And yes, sold in December of 2005 for $868,000 and then again in September of 2008 for $875,000 (having been briefly in contract last January when listed for $1,100,000 but subsequently reduced to $799,500 in April).

New permits, no apples.

∙ Listing: 1409 Sanchez (2/1) - $1,250,000 [MLS]
∙ A Total Noe Fixer/Tear-Down (For A Little Less Than Two Years Ago?) [SocketSite]

Posted by socketadmin at 12:30 PM | Permalink | Comments (33) | (email story)

January 16, 2009

She’s A Little Bit Victorian...And A Little Bit Modern As Well

A colorful Victorian façade with not only bit of original flair but a modern streak as well.

And sorry, but it's not deeded parking but rather a leased parking spot that's “pre-paid" until November of 2009. It's time to dust off our old parking space pet peeve post...

∙ Listing: 210 Steiner (3/2) - $1,175,000 [MLS]
∙ A Parking Space (And MLS) Pet Peeve [SocketSite]

Posted by socketadmin at 1:45 PM | Permalink | Comments (60) | (email story)

An Interesting Interior Behind A Simple Cow Hollow Façade

It’s a simple façade hiding a contemporary “loft-like” interior in Cow Hollow. Design by House and House Architects and asking $2,150,000. Yes, we like.

∙ Listing: 14 Harris Place (3/2.5) - $2,150,000 [MLS]

Posted by socketadmin at 10:30 AM | Permalink | Comments (32) | (email story)

Arts And Crafts But Not Quite An Apple: 171 25th Avenue

Between the foundation work and new master bathroom since being purchased in August of 2006 for $1,895,000 the sale of 171 25th Street which is now listed for $2,295,000 won’t make for an “apples to apples” comparison (i.e., a SocketSite apple).

Regardless, we are big fans of the Arts & Crafts facade (and the light in that aforementioned master bath).

∙ Listing: 171 25th Avenue (3/2.5) - $2,295,000 [MLS]

Posted by socketadmin at 10:00 AM | Permalink | Comments (18) | (email story)

January 15, 2009

Why Stop With Voyeurlicious, Let's Add Instastyle-istic (TM) As Well

It’s another cut in the New Year for the voyeurlicious St. Regis condo #23F. Listed for $2,595,000 three months ago, now asking $2,350,000 and including the Limn furniture.

Any interior designers, architects, or plugged-in power shoppers care to take a stab at the fair value of said furnishings? And if you buy it, do let us know if you don’t want the lamp.

∙ Listing: 188 Minna #23F ( 2/2.5) - $2,350,000 [Janet Krahling] [MLS]
∙ Voyeurlicious Design (TM) In More Ways Than One: 188 Minna #23F [SocketSite]

Posted by socketadmin at 12:00 PM | Permalink | Comments (49) | (email story)

January 14, 2009

One Rincon Hill (425 First Street): Rental Market Stumbling As Well?

Following in the footsteps of its “massive price reduction!!!” in December (originally asking $1,399,000, currently asking $999,900), the asking rent for 425 1st Street #1802 has been reduced to $4,200 per month as well (once asking $5,250).

Don’t forget to update those assumptions on your valuation/rent versus buy worksheets.

∙ One Rincon Hill (425 First Street): Secondary Market Stumbles [SocketSite]
∙ Listing: 425 1st Street #1802 (2/2) - $999,900 [MLS]
∙ $4200 / 2br - PRIME VIEW AT ONE RINCON HILL - RENT REDUCED [Craigslist]
∙ Four Floors Lower, But Asking One Hundred And Fifty Thousand Less [SocketSite]

Posted by socketadmin at 8:45 AM | Permalink | Comments (104) | (email story)

643 Greenwich: Tastefully Remodeled in 2001 And Then Again In 2006

In 2001 the listing for 643 Greenwich noted:

Tastefully rebuilt in 2001…epitomizes San Francisco-style chic…charming 1907 Victorian that has retained all its original character while affording contemporary comforts…owners have approved plans with City Permits to add two additional stories.

The 2001 façade above, 2001 kitchen below, and sales price: $1,550,000 (asking $1.9M).

From the listing in 2009:

[E]xquisite contemporary green renovations throughout…open-concept kitchen/DR/LR w/ expansive ceilings, commercial range, Bosch & Meile appliances, Scavolini Italian cabinetry…

Said kitchen having been tastefully rebuilt again in 2006:

And of course, now “4 levels…[with] Penthouse media suite & deck with Bay & Golden Gate views.” The 2009 façade below and asking $3,995,000.

∙ Listing: 643 Greenwich (5/4) - $3,995,000 [MLS] [2001 Photos and Listing]

Posted by socketadmin at 7:00 AM | Permalink | Comments (34) | (email story)

January 13, 2009

Another Shot At A Ripening Pacific Heights Apple: 2155 Buchanan #9

Purchased for $1,000,000 in June of 2006, listed for $950,000 in November 0f 2008, and...reduced to $885,000 last week. Once again: top floor, corner, renovated, parking and in the real Pacific Heights (i.e., north of California and a block to Lafayette park).

∙ Listing: 2155 Buchanan #9 (2/1) - $885,000 [MLS]
∙ A Pacific Heights Apple Up In The Tree: 2155 Buchanan #9 [SocketSite]

Posted by socketadmin at 4:45 PM | Permalink | Comments (140) | (email story)

It’s Double Entendre Time For 46 Tingley Once Again: Go Bears!

Purchased for $620,000 in September of 2004, 46 Tingely returned to the market in December of 2007 as a potential short sale asking $599,000. In September of 2008 the single-family home in Mission Terrace was bought back by the bank for $442,717. And yesterday it returned to the market asking $472,500.

Be sure not to miss those year-old but still quite relevant (some might even say prescient) plugged-in readers' comments, especially missionite’s worksheet (just don’t forget to update those assumptions with regard to purchase price and appreciation).

∙ Listing: 46 Tingley (4/2) - $472,500 [MLS]
∙ Another Chance To Be A Hero (Or Show Your Support For The Bears) [SocketSite]

Posted by socketadmin at 7:30 AM | Permalink | Comments (54) | (email story)

January 12, 2009

Less Great Expectations: 3271 Baker Drops Its New Year Asking 24%

As we first wrote about 3271 Baker when it hit the market six months ago (and was staged a bit differently):

While the stucco, tiles, wrought iron railings, doorways, beamed ceilings and wooden trim of both the overhauled façade and second floor of 3271 Baker Street are all true to the traditional Spanish/Mediterranean ethos of the house, the new first floor master suite is a bit more Ibiza (and the kitchen Italian).

And for the record, we’re not complaining (about either the suite, the island or Italy).

Asking $3,395,000 ($1,125 per square foot) in 2008, asking $2,595,000 ($860 per square foot) today. And yes, "two days" on the market (at least according to those MLS reports).

∙ Listing: 3271 Baker Street (4/2.5) - $2,595,000 [3271bakerstreet.com] [MLS]
∙ Spanish/Mediterranean Flair From Traditional To Modern: 3271 Baker [SocketSite]

Posted by socketadmin at 4:15 AM | Permalink | Comments (117) | (email story)

January 9, 2009

Noe Valley Apples to Apples With A View: 695 Grand View Ave #101

Nothing too fancy but some nice big windows, views, remodeled and a Noe Valley address. Purchased for $552,000 in January of 2007, they're asking $489,000 for 695 Grand View Avenue #101 in January of 2009. And the curb appeal? Uh, no.

∙ Listing: 695 Grand View Avenue #101 (1/1) - $489,000 [MLS]

Posted by socketadmin at 4:30 PM | Permalink | Comments (41) | (email story)

January 8, 2009

2200 Mission: 23 New Condos (Finally) On The Market In The Mission

The on again, off again, on again construction at the corner of Mission and 18th is finally close to completion as twenty-three new condominiums at 2200 Mission have officially hit the market as a mix of one, two, three and four bedroom units atop a new market.

We can’t comment on the quality as we haven’t yet taken a tour. And while we’re not giving our stamp of approval on the four bedroom floor plan, it is a four-bedroom with parking in San Francisco priced at $674,000. One bedrooms with parking starting at $449,000.

∙ 2200 Mission [2200mission.com]
∙ Listing: 2200 Mission #303 (4/2) - $674,000 [MLS]
∙ Listing: 2200 Mission #402 (1/1) - $449,000 [MLS]

Full Disclosure: The marketing company for 2200 Mission currently advertises on SocketSite but played no part in post.

Posted by socketadmin at 7:30 AM | Permalink | Comments (57) | (email story)

A Floor Higher And $350,000 Less At 333 Bush, Damn Those Neighbors

Of course it’s entirely possible the listing for 333 Bush Street #3701 was intended as a red herring when priced at $1,600,000, then again that was four months ago and the asking price has subsequently been reduced to $1,500,000. Or perhaps 333 Bush Street #3801 really is “priced to sell” at $1,150,000. Only time (and SocketSite) will tell.

In either case, same agent, different expectations (or at least approach), and damn those price setting neighbors. Oh, and 333 Bush Street #4004 which is slightly larger (1,382 square feet versus 1,320) closed escrow on December 1 with a reported contract price of $1,150,000. Just another data point.

∙ Listing: 333 Bush #3701 (2/2) - $1,500,000 [MLS]
∙ Listing: 333 Bush #3801 (2/2) - $1,150,000 [MLS]

Posted by socketadmin at 7:00 AM | Permalink | Comments (69) | (email story)

January 7, 2009

A Designer's Digs On The Market In Potrero: 778 Kansas

If you’re a fan of Ann Jones interiors, the listing for 778 Kansas might pique your interest. A ground up renovation by and for the interior designer, the Potrero Hill home is on the market and asking $1,495,000.

And while we’re not usually fans of living over bedrooms, in this case we’re willing to make an exception. We're digging the open top floor and roof deck.

∙ Listing: 778 Kansas (2/2) - $1,495,000 [778kansas.com] [MLS]

Posted by socketadmin at 6:30 AM | Permalink | Comments (38) | (email story)

January 6, 2009

483/497 Valley: We've Got The Details, Now Who's Got The Plans?

As plugged-in reader reports:

483 & 497 Valley Street were just listed @ $1.425 million for both [the cottage and lot]...with city-approved plans for a 4B/3.5 Bath, 2-car garage [on the lot]. The permit #200701101441 was filed in Jan/2007...[and] last sold in 9/2005 for $900,000. Nice appreciation if they get it. Would love to see the plans that were approved...

Of course it's not pure appreciation (on account of the approved plans), but so would we (like to see 'em). Tipsters?

∙ Listing: 483 Valley Street (2/1) + 497 Valley (lot) - $1,425,000 [MLS]

Posted by socketadmin at 8:00 AM | Permalink | Comments (10) | (email story)

A Six And One-Half Year District 5 Single-Family Apple On The Tree

Sporting a bit of a sweet deco vibe in the living room, 444 Douglas is back on the market and asking $1,295,000. Purchased for $1,100,000 in August of 2002, a sale at asking would represent average annual appreciation of 2.6% over the past six and one-half bull market years for this solid single-family home in San Francisco's real estate District 5.

And while the sale for $1,100,000 in 2002 closed just 13 months after purchasing the property for $860,000 in 2001, do keeping mind that a bathroom was remodeled, rooms were renovated, and the foundation was bolted in between. But once again, we can't recall anybody discussing the measured appreciation over such short holding periods as being anything but representative of the market at the time (as it was and still is).

∙ Listing: 444 Douglass (3/2.5) - $1,295,000 [MLS]

Posted by socketadmin at 6:30 AM | Permalink | Comments (70) | (email story)

January 5, 2009

Another One Rincon Hill ’02 (But More Importantly A Pool)

With a reported contract price of $1,423,500 in August 2008, One Rincon Hill (425 1st Street) #5002 is back on the market and asking $1,595,000. Yes, it’s another infamous "02." And yes, we have the pool.

∙ Listing: 425 1st Street #5002 (2/2) - $1,595,000 [MLS]
∙ One Rincon Hill (425 First Street): Secondary Market Stumbles [SocketSite]

Posted by socketadmin at 7:30 AM | Permalink | Comments (107) | (email story)

A Sign Of The Times And A Comp In 2005, So How About In 2009?

Purchased for $550,000 in June of 2004, this Outer Sunset single-family home was flipped eight and one-half months later for $680,000 (an increase of $130,000/23.6%) and established a new neighborhood comparable sale (“comp”) that we can’t recall being dismissed on account of the short holding period or location.

Bought back by the bank this past September for $535,075 this past September, 3004 Ortega is currently listed for $589,900.

∙ Listing: 3004 Ortega (2/1) - $589,900 [MLS]

Posted by socketadmin at 6:30 AM | Permalink | Comments (40) | (email story)

New Year, New Listing, And New Price (But Old Victorian Grandeur)

It’s a new year, a new listing (now an official three days on the market), and a new price (now asking $300,000/15.4% less than its asking in early December) for 908 Steiner. But it's still the same old Victorian grandeur and detail which you'll either love or hate.

∙ Listing: 908 Steiner (4/3.5) - $1,650,000 [MLS]
∙ Victorian Through And Through (For The Most Part): 908 Steiner [SocketSite]

Posted by socketadmin at 6:00 AM | Permalink | Comments (12) | (email story)

December 29, 2008

Flash Back Forward To Beacon Two-Bedrooms Asking Under $600,000

A tax assed value of just over $750,000; a recorded sale back to the bank three weeks ago for $629,142; and a two-bedroom/bath condo at the beacon that’s now asking $599,900 (and touting “Offers anytime!”). Yes, it's 250 King Street #266 and almost the end of 2008.

∙ Listing: 250 King #266 (2/2) - $599,900 [MLS]

Posted by socketadmin at 8:30 AM | Permalink | Comments (39) | (email story)

December 22, 2008

313 Duncan: Going The Rental Route (But Still Available For Sale)

After two months on the market 313 Duncan remains available for purchase and seeking $2,850,000, but the developer is now testing the rental waters as well. Asking $15,000 per month (including that sweet little one-bedroom out back).

∙ 313 Duncan: Before, After, And All Its Insides Now “Online” [SocketSite]
∙ $15000 / 5br - Stunning Modern Victorian Home with Guest House [Craigslist]
∙ Coming Soon: Victorians Gone Modern! (313 Duncan) [SocketSite]

Posted by socketadmin at 9:00 AM | Permalink | Comments (54) | (email story)

December 19, 2008

Perhaps It’s The Market That’s More Unbelievable To Some...

Purchased for $1,600,000 a year ago when they were asking $1,675,000, 214 Arguello Boulevard returned to the market nine months later (September 2008) asking $1,595,000. The list price was lowered to $1,495,000 six weeks later. And for the past three they've been asking $1,395,000.

A sale at the current asking for this four bedroom, two and one-half bath, completely renovated and District 7 (albeit on a busy block, as it was before) condo would represent depreciation of 12.8% over the past year.

From the listing: "This price is [absolutely] unbelievable…" Only if you're not plugged-in.

∙ Listing: 214 Arguello Boulevard (4/2.5) - $1,395,000 [MLS]

Posted by socketadmin at 7:15 PM | Permalink | Comments (46) | (email story)

Another Non-Comp Comp On The Market At 246 2nd Street (#1003)

In October of 2005 246 2nd Street #1003 sold for a reported $950,000. In April of 2008 the unit was bought back by the bank for $835,783. And yesterday it hit the market asking $689,900.

Previously purchased and owned by the same party that had owned and lost #502. And as plugged-in people know, but industry stats wouldn’t reflect, both condos were purchased with a significant amount of cash back at closing. Let’s hope nobody relied on that sale back in 2005 as a “comp.”

First purchased for $734,500 in the year 2000 when the building was built.

∙ Listing: 246 2nd Street #1003 (2/2) - $689,900 [MLS]
∙ Can Bank Owned Comps Kill (Values)? 246 2nd Street #502 Returns [SocketSite]

Posted by socketadmin at 5:00 AM | Permalink | Comments (95) | (email story)

December 18, 2008

Sweet Jesus (So To Speak): 601 Dolores On The Market And Inside

A plugged-in reader answers our prayers by directing us to the website for the unlisted but on the market 601 Dolores. Born the Mission Park Congregational Church in 1909 and more recently called the Golden Gate Lutheran Church, 601 Dolores was purchased in 2007 and transformed into a single-family home.

Think complete seismic retrofit; restoration of wood-paneling, original doors, hardware and historic stained-glass; add new mechanical, electrical and four wood burning fireplaces.

"Modern" kitchen, marble baths and a new tower interior with arched mahogany windows and roof-top deck overlooking Dolores Park. Oh, and parking for five. Sweet Jesus indeed.

The price? We're afraid to ask. Let us know if you do.

UPDATE: And you did. Asking $9,950,000.

∙ Unlisted Listing: 601 Dolores - $9,950,000 [castleonthepark.com]

Posted by socketadmin at 8:30 AM | Permalink | Comments (79) | (email story)

December 16, 2008

Back To The Future Past (And Then Some) For Marquee Building #403

Purchased for $551,000 in May of 2005, 151 Alice B. Toklas Place #403 returned to the market in August of 2008 asking $599,000, a sale at which would have represented average annual appreciation of roughly 2.5% over the past three years.

In September the price on the Marquee building one-bedroom was reduced to $525,000, in October to $475,000, and in November to $425,000 where it remains available today assuming a successful short sale.

We should also mention that the person who sold it for $551,000 in May of 2005 bought it for $415,000 in September of 2002. Perhaps it’s time to include that "not included in sale" chandelier.

∙ Listing: 151 Alice B. Toklas Place #403 (1/1) - $425,000 [MLS]

Posted by socketadmin at 2:00 PM | Permalink | Comments (23) | (email story)

A New Noe Valley Apple Varietal On The Tree: "Romanesque Victorian"

Purchased for $1,310,000 in February of 2006, the self described “Romanesque Victorian” at 1507 Dolores returned to the market at the beginning of November asking $1,349,000. Two weeks later and three weeks ago the price was reduced to $1,295,000.

In the words of a sharp tongued reader:

“Romanesque” must refer to the horrendous faux stone siding that was probably added some time in the 1950’s. It also has convenience to “the metro”, maybe that is the Romanesque term for “Muni.”

Luckily it's not nearly as "Romanesque" inside.

UPDATE: A reader's comment we simply couldn't resist: "I just wish they had placed tiny windows on the third floor so the fake Disneyland effect would be complete."

UPDATE: And another with respect to the architecture and accuracy: "If they are using the word correctly, Romanesque refers to the rounded arches, in contrast to Gothic which would have pointed or ogival arches." Cheers.

∙ Listing: 1507 Dolores Street (3/3) - $1,295,000 [1507Dolores.com] [MLS]

Posted by socketadmin at 10:00 AM | Permalink | Comments (31) | (email story)

December 12, 2008

Exposed Brick And Trusses (And Big Window To Expose Yourself)

One of the larger Harbor Lofts units at 1,438 square feet, 400 Spear #205 sports exposed brick (on three sides), exposed redwood trusses (supporting a 16 foot ceiling), and an oversized picture window (should you care to expose yourself).

Leased parking and asking just over $600 per square.

∙ Listing: 400 Spear #205 (2/1) - $875,000 [MLS]
∙ Harbor Lofts (400 Spear): San Francisco Warehouse Conversion [SocketSite]

Posted by socketadmin at 10:45 AM | Permalink | Comments (14) | (email story)

855 Folsom Apple On The Tree: Will It Be Déjà Vu All Over Again?

Purchased for $649,000 on 12/30/2005, 855 Folsom #102 is back on the market three years later and asking $649,000. Will it be déjà vu all over again?

∙ Listing: 855 Folsom #102 (1/1.5) - $649,000 [MLS]

Posted by socketadmin at 7:45 AM | Permalink | Comments (30) | (email story)

December 10, 2008

1629-1635 Green: Selling What Could Be (If Financed And Approved)

Two homes on a double lot partially hidden behind a wall of green, the listing for 1629-1635 Green notes: “Second home has plans/paid permits ready to build for gorgeous remodel/addition...with walls of glass plus 2 car gar.”

And perhaps it's an unintended omission, but a word we didn't see: approved.

∙ Listing: 1629-1635 Green Street - $2,595,000 [MLS]

Posted by socketadmin at 3:00 PM | Permalink | Comments (15) | (email story)

Chelsea Park Christmas Special (But Lump Of Coal If It's Your Comp?)

It’s a “Christmas special!” at Chelsea Park as the list price for 3620 19th Street #26 has just been reduced to $799,000 (previously listed for $899,000).

Originally asking $949,000 for this 1,332 square foot three-bedroom, two-bath condo, the reduction might seem more like a lump coal, however, if considered to be your comp.

∙ Listing: 3620 19th Street #26 (3/2) - $799,000 [MLS]
∙ Changing Chelsea Park Expectations Versus Eleven Months Ago [SocketSite]

Posted by socketadmin at 12:00 PM | Permalink | Comments (8) | (email story)

December 8, 2008

From “Beautifully Remodeled” to Gutted And Asking $755K Less In PH

In April of 2007 the listing for 2219 Pacific Avenue touted “Beautifully remodeled and maintained Pacific Heights Edwardian…Detached 2 car garage…All bedrooms are generously sized.” It closed escrow two months later with a reported contract price of $4,250,000.

Three days ago a gutted and reframed 2219 Pacific returned to the market touting “Permits issued and complete plans available to finish this spectacular 3 story home in AAA Pac Hts...needs elect, plumbing, flrs, mechanical…will be a 4900 sq ft home…3/4 of foundation is brand new w/ all current seismic upgrades.”

Now asking $3,495,000.

UPDATE: From an always plugged-in sleepiguy: "Just all around tragic. Again, Pac Heights real estate died a sudden, painful death back in October. It's not even on life-support; it's just dead."

∙ Listing: 2219 Pacific Avenue (5/4.5) - $3,495,000 [MLS]

Posted by socketadmin at 1:00 AM | Permalink | Comments (45) | (email story)

Another Infinity Resale (#9E) Within Those "Restricted" Two Years

From a plugged-in tipster and Infinity resident late last week:

A second resale at the Infinity [#9E] is hitting this weekend…I looked at this one back when the sales office first opened and it was listed for just under $900k, if my memory serves me correctly. This resale business seams especially interesting in light of the clause, at least in the contract I signed, that restricts sales for the first two years.

Upgraded and currently asking $885,000. No mention of any relocation. And yes, a complete Infinity update is in the works for later today (or possibly tomorrow).

UPDATE: The listing for that "first" resale (301 Main #4B) was just withdrawn from the MLS.

∙ Listing: 301 Main #9E (2/2) - $885,000 [Climb]
∙ A Listed Infinity Resale (301 Main #4B) And Reader’s Report On Sales [SocketSite]

Posted by socketadmin at 1:00 AM | Permalink | Comments (77) | (email story)

December 5, 2008

To Comp Or Not To Comp, Perhaps We Have An Answer

In August the sale of unit #421 at The Palms (555 4th Street) closed escrow with a reported contract price or $700,000, purchased for $789,000 in 2006. The sale was “subject to lender’s approval,” however, so perhaps not a “real” comp.

Then again, as a plugged-in tipster notes 555 4th Street #521 has been on the market for seven months and the price reduced five times. Now asking $699,000 after a month at $749,000, and once again, purchased for $789,000 in 2006.

Perhaps the real(ity) is so.

∙ Listing: 555 4th Street #521 (2/2) - $699,000 [MLS]
∙ The Palms (555 4th St.): Secondary Market Slowdown And Short Sale [SocketSite]
∙ To Comp Or Not To Comp, The Question Of More Than The Day [SocketSite]

Posted by socketadmin at 4:00 PM | Permalink | Comments (53) | (email story)

Heritage Fillmore: And Then There Were Three (And Up To $350K Off)

From the last five in August (and up to $230,000 off), to the last three today (and up to $350,000 off) at Heritage on Fillmore. Oh, and 4% to the brokers (not that a buyer's agent should be influenced by such things).

∙ Heritage Fillmore: And Then There Were Five (And Up To $230K Off) [SocketSite]

Posted by socketadmin at 3:00 PM | Permalink | Comments (27) | (email story)

Quite Simply (And Our Apologies In Advance), Cathedral Tower Wood

While the ceiling may be faux-bois, the dining room paneling is not. Nor are the views faux (although perhaps a bit larger than life) from this Cathedral Tower penthouse.

∙ Listing: 1201 California #1602 (2/2) - $2,895,000 [Joel Goodrich] [MLS]

Posted by socketadmin at 7:50 AM | Permalink | Comments (19) | (email story)

December 4, 2008

Perhaps It’s Time For The Hard Stuff: 161-165 Collingwood Cuts Again

As a plugged-in reader notes, asking prices for the trio of “ultra chic” new construction condos at 161-165 Collingwood have been reduced for the second time (each now listed at $150,000 under original asking).

And while the website touts “Hot New Prices! Motivated to Sell!”, and the listings “lease purchase option available!”, there's no new mention of any free wine. Oh well, it's probably time for the hard stuff anyway.

∙ Listing: 161-165 Collingwood [collingwoodchic.com]
∙ Listing: 161 Collingwood (3/3) - $1,349,000 [MLS]
∙ Listing: 163 Collingwood (2/2) - $1,049,000 [MLS]
∙ Listing: 165 Collingwood (3/3) - $1,599,000 [MLS]
∙ It's Been A Rough Week, So You Might As Well Grab A Glass Of Wine [SocketSite]

Posted by socketadmin at 2:30 PM | Permalink | Comments (32) | (email story)

December 3, 2008

Ritz-Carlton Residences Penthouse Shell: Now Seeking 2006 Price?

Another $600,000 (10%) has been cut from the list price for the staged penthouse shell resale atop San Francisco’s Ritz-Carlton Residences, now asking $5,395,000. That’s $1,105,000 less than was being asked this past June, and $25,000 less than was being sought by the sales office at the end of 2006 (we're not privy to the actual contract price).

UPDATE: Assuming a plugged-in reader is right, the current "asking price, minus commission, would still be above the original purchase price." By just how much will still don't know.

∙ Listing: 690 Market #2401 (3,595 square foot shell) - $5,395,000 [MLS]
∙ The Staging (And Reduction) Of That Ritz-Carlton Penthouse Shell [SocketSite]
∙ Ritz-Carlton Residences (690 Market): Listed [SocketSite]

Posted by socketadmin at 1:15 PM | Permalink | Comments (24) | (email story)

December 2, 2008

Fourteen Months Four Days On The Market For 7 Gaviota Way

Purchased for $933,000 in June of 2007 and then immediately remodeled (think new kitchen and bath on the main floor plus two new bedrooms and baths below), 7 Gaviota Way returned to the market three months later asking $1,498,000.

Now working on its fourth MLS number, and having lowered expectations at least five times over the past fourteen months but never quite enough, last week this Miraloma Park home was listed anew (now asking $1,198,000). And yes, it's an official four days on the market as far as any MLS based report or statistic is concerned.

∙ Listing: 7 Gaviota Way (4/4) - $1,198,000 [MLS]

Posted by socketadmin at 7:00 AM | Permalink | Comments (82) | (email story)

December 1, 2008

48 Langton: Not “Official” Inventory (But On The Market Nonetheless)

Three new condos touting “green features” like recycled insulation and tank-less hot water heaters sprouted up at 48 Langton. Two car tandem parking per unit (keep it green with two cars off the street…) and a higher quality of finish than we've come to expect.

An urban neighborhood you’ll either love or hate (okay, or perhaps just like). And a couple of great views from the decks of the city and 60 Rausch (at least for now).

48 Langton #1 (2/2) - $889,000; #2 (2/2.5) - $899,000; and #3 (2/2.5) - $899,000.

∙ Listing: 48 Langton Street [48langton.com]
∙ The Mullen Buildings: 52/60 Rausch & 73 Sumner [SocketSite]

Posted by socketadmin at 5:00 PM | Permalink | Comments (16) | (email story)

Harding Theater (616 Divisadero): Developer Throwing In The Towel?

Last week a plugged-in tipster noted for sale signs had been hung, and this weekend 616 Divisadero (a.k.a. the Harding Theater) hit the MLS. In the words of another tipster, “After years of paying debt service and battling with the planning board, the developers of the Harding Theater on [Divisadero] have thrown in the towel….”

It appears that the decaying theater façade will be preserved for the foreseeable future and the auditorium, lobby and storefront spaces will remain unusable. Oh, and the adjoining underdeveloped lot around the corned on Hayes should be safe from becoming eight homes for neighborhood residents, business patrons and taxpayers anytime soon.

∙ Listing: 616 Divisadero - $4,000,000 [MLS]
∙ Harding Theater Development Positive Review Panned On Appeal [SocketSite]

Posted by socketadmin at 6:50 AM | Permalink | Comments (39) | (email story)

Victorian Through And Through (For The Most Part): 908 Steiner

908 Steiner appears to be Victorian through and through (except perhaps the kitchen). And unfortunately without a place to park the buggy.

∙ Listing: 908 Steiner (4/3.5) - $1,950,000 [MLS]

Posted by socketadmin at 6:45 AM | Permalink | Comments (37) | (email story)

November 26, 2008

Warm Thoughts Of A Traditional Thanksgiving Dinner (2008 Edition)

We’re making it Thanksgiving time tradition: a recent reduction (listed on 11/06 for $1,175,000, reduced to $1,098,000 on 11/21) and a gorgeous old stove.

Here's to hoping your pantry is plentiful along with your family and friends. Safe travels if you are (traveling). And we'll see you next week.

∙ Listing: 956-958 Sanchez (4/2) - $1,098,000 [Virtual Tour] [MLS]
∙ Conjuring Up Warm Thoughts Of A Traditional Thanksgiving Dinner [SocketSite]

Posted by socketadmin at 1:00 PM | Permalink | Comments (11) | (email story)

New Woodwork (And Price?) To Rival That Of Old: 3960 20th Street

The woodwork (“vertical grain fir to complete the turn-of-the century craftsman design”) caught our fancy.

Was the recent reduction (from $2,295,000 to $1,995,000) enough to catch yours?

∙ Listing: 3960 20th Street (4/3.5) - $1,995,000 [MLS]

Posted by socketadmin at 12:30 PM | Permalink | Comments (26) | (email story)

November 25, 2008

A Pacific Heights Apple Up In The Tree: 2155 Buchanan #9

Top floor, corner, renovated, parking and in Pacific Heights. Purchased for $1,000,000 (said with best Dr. Evil accent) in June of 2006, listed for $950,000 last week, and into our apple cart it'll go. Make the call before it closes escrow or forever hold your peace.

UPDATE: And for those who could only rationalize a plugged-in spencer’s rent paying for a shag carpeted 1970’s hovel with popcorn ceiling…

∙ Listing: 2155 Buchanan #9 (2/1) - $950,000 [MLS]

Posted by socketadmin at 1:30 PM | Permalink | Comments (38) | (email story)

Did We Mention How Much That Third Party Matters?

From the plugged-in listing agent for 835 Foerster:

We received an offer several months [ago] for $855,000. It took months to negotiate this sale price with the lenders (both a 1st and a 2nd), not to mention other costs such as back taxes, expenses, commissions, etc., etc...

The lenders unfortunately took too long to approve the payoff (and their losses), and the buyers just pulled out of the deal, citing personal and financing reasons. So yes, the lenders did approve the $855,000 price, but since the contract was submitted several months ago, we've experienced a big market shift.

We lowered to asking price to $788,000 [yesterday] and hope to take a new offer(s) to the lenders, and re-open negotiations.

As we said, while a seller and lender might agree, it's that third party (i.e., the buyer) that really matters. Once again, purchased with loans totaling $950,000 in July of 2006 up in Miraloma Park (District 4). And as always, thank you for plugging in.

∙ Listing: 835 Foerster (3/2.5) - $788,000 [MLS]
∙ While Those Two Agree, It’s A Third That Really Matters [SocketSite]

Posted by socketadmin at 9:30 AM | Permalink | Comments (13) | (email story)

November 24, 2008

Must Have Limited Income (But Be Able To Afford $710/mo In HOAs)

It’s a Mayor’s Office of Housing two-bedroom unit in the Watermark (which explains the appliances). And while the income restricted price is well below market rate ($287,375), keep in mind the monthly HOA dues are not ($710).

∙ Listing: 501 Beale #5F (2/1) - $287,375 (BMR) [MLS]

Posted by socketadmin at 9:00 AM | Permalink | Comments (29) | (email story)

November 21, 2008

While Those Two Agree, It’s A Third That Really Matters

In July of 2006 the renovated 835 Foerster was purchased with loans totaling $950,000 up in Miraloma Park. From the listing today:

Lender-approved short sale! An amazing value! After many months of negotiations, sale price has been set! Must be sold immediately! Property was marketed for $1,049,000 last year!

And while it’s good to know the seller and lender have come to terms (but perhaps not grips), we’re more interested in whether or not the market (i.e., a buyer) will agree.

∙ Listing: 835 Foerster (3/2.5) - $855,000 [Vanguard via Pacific Union]

Posted by socketadmin at 7:10 AM | Permalink | Comments (55) | (email story)

November 20, 2008

Perhaps Not Disclosed, But We Might Suggest Some Discovery

While we do like the mention of “new concrete foundation, electrical, plumbing and heating” (and the bonus rooms), we’re not particularly keen on the lack of any recent permit history (not to mention the "Hazardous Building" complaint) online.

And unfortunately (for more than one party), it is a trust sale and emphasizing “exempt from most disclosures” in the remarks.

∙ Listing: 326 Virginia Avenue (2/1.5) - $699,000 [MLS]
∙ San Francisco Online Permit and Complaint Tracking [SFGov]

Posted by socketadmin at 9:00 AM | Permalink | Comments (32) | (email story)

From “Very” To “Extremely” For The Seller, Decoder Ring On The Way

Purchased in March of 2002 for $975,000 but then "extensively remodeled" in 2003, 1821-23 Lyon was listed two months ago for $3,295,500, reduced a month later to $2,995,500, and then cut to $2,695,000 the day before yesterday.

According to the listing(s), the seller of has gone from being very to extremely motivated (don't worry, a SocketSite decoder ring is on the way). And “OMC2” you ask? Owner may carry second (and not to be confused with OMD, they are back together you know).

∙ Listing: 1821-1823 Lyon (5/3.5) - $2,695,000 [McGuire] [MLS]
∙ A SocketSite Guide To Price Reductions [SocketSite 3/06]

Posted by socketadmin at 6:00 AM | Permalink | Comments (26) | (email story)

November 19, 2008

224 Twin Peaks Boulevard: A Study In Rising Prices Yet Falling Values

Purchased for $1,360,000 a year ago (11/2/07), 224 Twin Peaks Boulevard returned to the market in June asking $1,395,000 and was subsequently reduced to $1,249,000.

Unable to find its buyer, the property has since undergone a “fantastic transformation” with the exterior, front & rear decks, landscaping, kitchen, bathrooms and floor plan all having been “beautifully brought up to date for today's lifestyle.”

Listed once again two weeks ago for $1,749,000, reduced yesterday to $1,655,000, and touting a “Motivated seller!” We’ll let you figure out just how much so.

∙ Listing: 224 Twin Peaks Boulevard (3/2) - $1,655,000 [MLS] [Old Listing]

Posted by socketadmin at 8:30 AM | Permalink | Comments (78) | (email story)

November 18, 2008

The Noe Valley Summit Gets Closer Still (And Listings Anew For Two)

Listed five months ago and priced at $1,949,000, and then reduced to $1,649,000 three months after that, 4121 Cesar Chavez #6 was listed anew yesterday for $1,599,000. That's an "official" two days on the Noe Valley market according to those sell side stats.

Also "newly" added to the MLS, 4121 Cesar Chavez #2 with a list price of $998,000 ($778/sqft). In the words of a plugged-in laura four months ago:

These units are indeed spectacular, particularly the upper floor units 5 &6. These won't move at their current price point and my agent (who's VERY well connected to the SF agent network) advised me to sit back and wait til this drops to at least $800 per.

As always, it's good to be connected and plugged-in.

Oh, and while 4121 Cesar Chavez #1 is now in contract with an "original" list price of $1,198,000 ($771/sqft), it's a plugged-in tipster that reminds us they were once asking $1,349,000. Remember to adjust those industry reports accordingly.

∙ Listing: 4121 Cesar Chavez St #2 (2/2.5) - $998,000 [MLS]
∙ Listing: 4121 Cesar Chavez St #6 (3/2.5) - $1,599,000 [MLS]
∙ It Gets A Little Easier To Reach The Summit (4121 Cesar Chavez) [SocketSite]

Posted by socketadmin at 5:00 PM | Permalink | Comments (12) | (email story)

The Latest Listing Verbiage From Chelsea Park: "Prices Slashed"

The latest listing verbiage from the sales office at Chelsea Park: "Prices slashed for stunning homes in the heart of the Castro/Mission Dolores neighborhoods! $500/day bonus for quick escrows, free parking for 5 years."

At least 18% of the 39 units in the development remain available with 7 currently listed and prices reduced by up to $100,000 (9.5%). And while originally starting at $679,000, now available from $619,000 (down 8.8%).

UPDATE: Make that reduced by up to $150,000 (14.3%):

[T]he unit (#9) Socketsite lists as $949K seems to have dropped another $50K today, it's now showing $899K. The text of the listing still says "only" $949, but the top of the listing shows the reduced price.

∙ Listing: 3620 19th Street #9 (2/2.5) - $949,000 [MLS]
∙ Listing: 3620 19th Street #27 (1/1) - $619,000 [MLS]
∙ Chelsea Park (Phase I): On The MLS And Opening Tomorrow (1/27) [SocketSite]

Posted by socketadmin at 6:30 AM | Permalink | Comments (38) | (email story)

November 17, 2008

A Quick Friends And Family Esprit Park Flip?

While Homes on Esprit Park just recently received their first certificate of occupancy and started closing round one, the first resale has hit the MLS:

Investor owned! Only one at this price. Insatiable 2 level penthouse unit with vaulted ceilings and spectacular deck. Similar units priced at $1,200,000 and above.

From the listing for one such similar unit: "Buy confidently with a refundable deposit."

We're guessing the sale of #S514 likely represents a "friends and family" flip. And if it is the former, perhaps soon to be "ex."

∙ Listing: 900 Minnesota #S514 (2/2.5) - $1,095,000 [MLS]
∙ Listing: 900 Minnesota #S503 (2/2.5) - $1,197,000 [MLS]
∙ Homes On Esprit Park: Now Offering Refundable Purchase Deposits [SocketSite]
∙ Homes On Esprit Park Receives First Certificate Of Occupancy [SocketSite]

Posted by socketadmin at 11:00 AM | Permalink | Comments (19) | (email story)

QuickLinks: Three Under Four Which We'll Call The New Five (Or Six)

∙ Listing: 127 Milton (3/1) - $319,900 (Bernal) [MLS]
∙ Listing: 996 Van Ness #4 (1/1) - $319,000 (Mission) [MLS]
∙ Listing: 318 Thornton (2/1) - $376,900 (Silver Terrace) [MLS]

Posted by socketadmin at 7:30 AM | Permalink | Comments (22) | (email story)

November 14, 2008

Listed As A Single-Family Home, But Looking A Lot More Like A Lot

We’re not sure why 107 24th Ave is listed as a single-family home (okay, so perhaps we are), but keep in mind that’s $1,995,000 for just the lot and plans (although "approved").

∙ Listing: 107 24th Avenue (“4/5”) - $1,995,000 [MLS]

Posted by socketadmin at 11:30 AM | Permalink | Comments (27) | (email story)

November 13, 2008

TIC Troubles Via The WSJ (But We Wouldn't Discount That Downturn)

The Wall Street Journal article: Residential-TIC Tack Hits Snags.

The Quote:

The problems facing residential TICs, which are found mainly in San Francisco, are different and reflect tighter mortgage underwriting standards. Banks across the country have pulled back from all types of mortgage lending, but especially for nontraditional types of mortgages. As a result, borrowing costs for TICs have shot up, causing home buyers to avoid the structure.

Sterling Bank & Trust FSB recently raised its rate for TIC loans to 7.75% -- a loan for a similarly priced condo would require only 6% to 6.25% interest -- and now requires a down payment of at least 20% of the purchase price. Other banks are now requiring 30% down. In the past, lenders required buyers to put 10% down.

The listing: 158 Laidley ("Price REDUCED. Cut-rate financing! Stunning eco-modern...").

∙ Residential-TIC Tack Hits Snags [Wall Street Journal]
∙ Listing: 158 Laidley (5 TIC units) - $359,000 to $699,000 [158laidley.com]

Posted by socketadmin at 7:30 AM | Permalink | Comments (47) | (email story)

November 12, 2008

Inside The St. Regis Penthouse: The Rendering Scoop And Details

It’s a plugged-in tipster that catches a couple of the elusive and exclusive renderings and additional details for the two-story penthouse atop the San Francisco St. Regis.

The numbers: 20,000+ square feet (including 2,900 of terraces); six bedrooms, seven full baths, four powder rooms; 2,500 square foot master suite (including the closet of dreams below); thirteen-seat home cinema designed by Keith Yates; 22 foot floor-to-ceiling glass walls in the living; and four terraces, four fireplaces and six car parking.

Penthouse (and Sex in The This City) worthy design by Orlando Diaz-Azcuy Design Associates. And yes, asking $70,000,000 fully finished. Calling Mister (or Miss) Big.

And forget the housewarming, just get us in for a tour.

UPDATE: Another rendering of the 22-foot ceiling and windows:

And that 2,500 square foot master suite's 525 gallon infinity tub: