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CATEGORY ARCHIVE: Listings (for sale)

November 19, 2009

Two Years And A 46 Percent Drop In Expectations For 2100 Vallejo

Listed in December 2007 for $25,000,000, the asking price for 2001 Vallejo has been reduced a few times since. Now asking $13,500,000 (which includes the adjacent buildable lot), call it an effective 46 percent reduction in list price over the past two years.

As a plugged-in sleepiguy wrote in 2008:

I think the extra lot is a little confusing. This house is Historical with a capital H and I doubt the neighbors nor the Pac Heights Res. Association would support subdividing the lot and putting a building on it. Believe me, even billionaires are scared of the planning commission. It also doesn't help that the house next door has been for sale for well over a year for about 10 million less. Based on the Scott St. sales, I think this house would've sold for 18-20 earlier this year, but I'd wager that right now it's dead in the water.

As a plugged-in eddy added earlier this year:

Honestly, in re-reading my comments and sleepiguy's…I have to think that north of $15M is a stretch at this point. 10 for the house, 5 for the lot.... And that is a big Maybe. The craze of 2007/2008 at this end of the market is gone.

True dat with a capital T. And it's something that shouldn’t have caught any plugged-in readers by surprise. Now about the newest competition in the eight figure realm...

∙ Listing: 2100 Vallejo (5/5.5) - $13,500,000 [MLS]
∙ It Might Not Have A Name, But It’s A Vallejo Mansion Nonetheless [SocketSite]
∙ It’s Time For Another Industry Report Asterisk (2100 Vallejo Edition) [SocketSite]
∙ 2342 Broadway Returns Anew, "Green," And Asking $14,000,000 [SocketSite]

Posted by socketadmin at 7:00 AM | Permalink | Comments (10) | (email story)

New Year (And Perhaps Market) Motivations Atop Nob Hill

From the property flyer now making its way around the brokerages for 1170 Sacramento Street #2B by way of a plugged-in tipster: "TENANTS HAVE MOVED---NOW PAINTED AND STAGED! MOTIVATED SELLER! WANTS TO CLOSE BY DEC. 31!"

On the market for the past month asking $1,595,000 (purchased for $1,450,000 in May 2005), will it take more "motivation" than furnishings and paint to grant this holiday wish?

Other 1,961 square foot "B" stack units in the building currently on the MLS: 1170 Sacramento #12B asking $1,950,000 (reduced from $2,200,000); and 1170 Sacramento #14B asking $2,150,000 and which comes with a separate one-bedroom unit that "can be sold to another owner in bldg" (reduced from $2,380,000).

∙ Listing: 1170 Sacramento #2B (2/2.5) - $1,595,000 [1170-sacramento-2b.com] [MLS]
∙ Listing: 1170 Sacramento #12B (2/2.5) - $1,950,000 [MLS]
∙ Listing: 1170 Sacramento #14B (3/3.5) - $2,150,000 [MLS]

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

A Resale One Joins The Two At Seventy-Four New Montgomery

While the two-bedroom 74 New Montgomery #502 remains available at $945,000 (24% under its un-upgraded purchase price in 2008), a tipster notes a one-bedroom resale (74 New Montgomery #305) has also hit the market asking $485,000 (12% under its purchase price in January 2008).

We’ll assume the shades are drawn to simply show off the upgrade, or for the purposes of photography, not to hide the views.

∙ Listing: 74 New Montgomery #305 (1/1) - $485,000 [MLS]
∙ Overlooking Architecture (And Upgrades) At The Montgomery (#502) [SocketSite]

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

November 18, 2009

A Rather Modern Listing (But Really Not So "New")

Back on the MLS and on tour "as new," the list price for 297 Cresta Vista Drive is down to $1,290,000. Asking $1,595,000 in June 2008 before being withdrawn that December and then listed again this past May at $1,495,000 before being withdrawn three weeks ago.

Built in 1991 and last sold for $789,000 in May of 1998, it’s now one day on the market for 297 Cresta Vista Drive according to those official industry statistics and market reports. And a sale at $1,290,000 would be another "100% of asking" data point.

UPDATE: As a plugged-in reader adds:

It is a crazy house...but also wonderful in its way. I knew the guy, Bill Deitch, who designed and lived in it initially. He was a San Francisco character who was trained as a structural engineer and worked [as] a residential building contractor. Knowing Bill, it is probably built to withstand the big one.

∙ Listing: 297 Cresta Vista Drive (3/4.5) 3,233 sqft - $1,290,000 [virtual tour] [MLS]

Posted by socketadmin at 11:00 AM | Permalink | Comments (21) | (email story)

November 17, 2009

2342 Broadway Returns Anew, "Green," And Asking $14,000,000

It’s not yet officially listed inventory, nor is the address even mentioned on the Sotheby’s site. But a few doors down from 2306 and 2310 Broadway, and across the street from the Party of Five house at 2311 Broadway, lies 2342 Broadway.

Purchased as a total fixer for what tax records would suggest was $5,610,000 in May 2008 (asking just under six million at the time), the Pacific Heights big humongous view home has been completely remade from front to back and bottom to top.

And in addition to the requisite eight figure finishings, solar panels and a rainwater harvesting system could help the home achieve LEED Platinum certification.

Asking $14,000,000. And a tip of the hat to the always plugged-in sleepiguy for the scoop.

∙ Listing: "Luxurious, Sustainable Paradise" (2342 Broadway) - $14,000,000 [Sotheby's]
∙ An Überprime Data Point Closes Escrow Down On Upper Broadway [SocketSite]
∙ The Side Story (Quite Literally) For 2306 Broadway: 2310 Next Door [SocketSite]
∙ A Peek Inside The "Party Of Five" House At 2311 Broadway [SocketSite]

Posted by socketadmin at 10:30 AM | Permalink | Comments (47) | (email story)

And On His Little San Francisco Farm He Grew...A Short Sale

As we wrote a year and a half ago:

Purchased for $749,000 in March of 2007, another one of the four little Donald MacDonald "Urban Townhouses" on Hermann (396) didn’t find a buyer at $795,000 (which would have represented annual appreciation of roughly 5%) and is now asking $779,000 (which would represent annual appreciation of closer to 3%).

And while these little homes aren’t everybody’s cup of tea, we do happen to like little spaces, big windows, and wood burning fireplaces (not to mention the neighborhood).

Withdrawn from the market a month later without a sale, 396 Hermann returned to the MLS three months ago asking $749,000. Two weeks later the price was reduced to $729,000. And yesterday the price was dropped to "$599,000" as a "short sale."

As a plugged-in tipster writes: "It's almost like they gave up on figuring out what the market price is -- let the bank and the buyer figure that one out." Of course that also might mean the bank will be figuring out how big a promissory note the seller will be saddled with for the shortfall (which we'll assume the agent has explained).

∙ Listing: 396 Hermann (2/1) - $599,000 [MLS]
∙ And On His Little Urban Farm He Grew A Little Apple... [SocketSite]
∙ Note to Short Sellers (And Their Agents): Read The Fine Print [SocketSite]

Posted by socketadmin at 6:00 AM | Permalink | Comments (44) | (email story)

November 16, 2009

Belli’s Barbary Coast (And At One Time) Belle Of A Building

As Melvin Belli’s one time Gold Coast home still seeks a buyer, over the past month the infamous and Landmark Belli Building at 722-728 Montgomery has been doing the same.

The flamboyant and influential Belli was a pivotal figure in today's litigious society as an innovator in the area of personal injury law. He took on big corporations and controversial clients. Belli's clients included Errol Flynn, Jim and Tammy Faye Baker, Lana Turner, Mae West, Muhammad Ali, and Jack Ruby.

The Gold Rush era building at 722 Montgomery Street is a historical landmark and the offices where the renowned attorney held court. Eventually reduced to a ramshackle, the offices were once a monument to Belli's $60 million success. Belli died in 1996 at the age of 88, just a few months after filing for bankruptcy.

Particularly galling to San Franciscans is the fact that Mrs. Belli, who announced the ground breaking for a Belli museum on the site in 1997, sat on the San Francisco Landmarks Preservation Advisory Board while she allowed the Belli building fall into ruin.

An ongoing rebuild of the Belli building is still under wraps, and if finished as planned would yield 11,615 square feet of commercial space, 12,098 square feet of residential space (configured as 12 condos), and a 4,639 square foot basement.

Asking $10,500,000 in its current condition, the Loopnet listing created on October first notes, "This property will not last, Family has asked for it to be sold in as is condition within the next 30 days." Okay, so maybe 60. And under ten.

UPDATE (11/17): A plugged-in reader adds:

Perhaps the motivation for this statement [("Family has asked for it to be sold in as is condition within the next 30 days")] was the [Notice of Default] filed on September 24. Ms. Belli recently (end of August) sold off two units at 481 Clementina. Evidently, she did not raise enough capital to prevent the mechanics lien on November 4 for the Montgomery property. And, of course, the requisite lawsuit by the builders.

That would do it. And buyers, pay attention to those encumbrances.

∙ 24 Karat Gold Coast (2950 Broadway) Brochure, Plans, And History [SocketSite]
∙ Landmark 9: The Belli Building (722 Montgomery) [noehill.com]
∙ Farewell Favorites: Belli, Belli & Belli [mistersf.com]
∙ Listing: 722-728 Montgomery Street - $10,500,000 [loopnet.com]
∙ B.A.R. BUILDERS VS. NANCY HO BELLI [sftc.org]

Posted by socketadmin at 12:30 PM | Permalink | Comments (8) | (email story)

Down On Nob Hill At Gramercy Towers (1177 California)

Billed as having the "Most desired junior 1 bedroom floorplan in building," Gramercy Towers (1177 California) #1022 is on the market and asking $499,000. It was purchased for $462,000 three years ago. And all things considered, that wouldn’t be bad appreciation.

Two weeks ago, however, the sale of the Gramercy Towers #1402 (yes, the "Most sought after Junior 1 bedroom floor plan with views of the Golden Gate Bridge" but without a balcony we believe) closed escrow with a reported contract price of $407,000. The 511 square foot unit was also remodeled and had been asking $429,000.

∙ Listing: 1177 California #1022 ("1"/1) 511 sqft - $499,000 [MLS]

Posted by socketadmin at 10:00 AM | Permalink | Comments (26) | (email story)

Oh My (And Bank Owned) At The Odeon On O’Farrell

Purchased for $800,000 in December 2006, Odeon (181 O’Farrell) #508 was taken back by the bank. It’s been listed at $601,400, a sale at which would represent a 25 percent drop in value over the past three years.

Also on the market in the Odeon, #307 which was purchased for $780,000 in March 2007, has been on the market for the past 185 days, and hasn’t moved at $699,000 (a 10 percent drop). And #505 which was purchased for $894,500 in February 2007, has been on the market for the past 56 days, and hasn’t moved at $760,000 (a 15 percent drop).

And then there’s the penthouse (#513) which was purchased for $2,000,000 in March 2007. An attempt to sell it off as a fractional over the past two years failed and it’s been the market as a whole for the past 172 days. Originally asking $2,349,000, it’s been three months at $2,099,000 with an owner that "says make an offer!!"

∙ Listing: 181 O’Farrell #307 (1/1.5) - $699,000 [MLS]
∙ Listing: 181 O’Farrell #508 (1/1.5) 1,047 sqft - $601,400 [MLS]
∙ Listing: 181 O’Farrell #505 (1/1.5) 1,334 sqft - $760,000 [MLS]
∙ Listing: 181 O’Farrell #513 (3/2) 2,516 sqft - $2,099,000 [MLS]
∙ New Developments: Odeon (181 O’Farrell) [SocketSite]

Posted by socketadmin at 12:30 AM | Permalink | Comments (40) | (email story)

November 13, 2009

Views From The Top (And A Renovation Below To Boot)

While they seem to be selling the views (from the roof), the interior of 1724 Grant Street has "been renovated from top to bottom" (kitchen, baths, etc.) as well.

Purchased for $2,705,000 in March of 2007 (and then remodeled), they’re currently asking $2,549,000 for this "VERY SPEC'L" Telegraph Hill home. We'll let you do the math.

UPDATE: Also listed this past April at $2,950,000 but then reduced to $2,495,000 in June (by way of $2,695,000 in May) before being withdrawn.

∙ Listing: 1724 Grant Avenue (5/4.5) - $2,549,000 [MLS]

Posted by socketadmin at 3:30 PM | Permalink | Comments (10) | (email story)

From Rendering To Reality And On The Market For 1327 7th Avenue

The rendering above, the reality below, and it’s on the market for the eleven residential condos and ground floor retail of 1327 7th Avenue between Judah and Irving.

The two-bedrooms have been priced from $1,175,000 for the 1,272 square foot #11.

And the three-bedrooms have been priced from $1,225,000 for the 1,330 square foot #1, one of the three "cottages" out back.

Two of which originally stood (although not quite so high) on the site.

∙ Listing: 1327 7th Avenue #1 (3/2.5) 1,330 sqft - $1,225,000 [MLS]
∙ Listing: 1327 7th Avenue #11 (2/2) 1,272 sqft - $1,175,000 [MLS]
∙ A Reader Wonders, We Respond: The Designs For 1315-27 7th Avenue [SocketSite]

Posted by socketadmin at 11:45 AM | Permalink | Comments (36) | (email story)

November 12, 2009

Motivated Seller Seeks Motivated Buyer For Mutual "Advantage"

From the flyer for 999 Greet Street #2802 making the rounds amongst the brokerages by way of a tipster: "Very Motivated Seller! (Seller has tax advantage if sold in 2009!)."

No word on exactly what advantage (other than yours in negotiating). And once again, purchased "off the market" for $2,500,000 in October 2008, no movement at $2,099,000, and currently seeking $1,950,000 (a drop of 22 percent).

∙ The (Eichler) Summit Of 999 Green Street #2802 [SocketSite]
∙ Listing: 999 Green Street #2802 (3/2) - $1,950,000 [MLS]

Posted by socketadmin at 1:15 PM | Permalink | Comments (21) | (email story)

Apples To Apples For 188 King: 2006 To 2009 (Versus 2006 To 2008)

Purchased for $780,000 in August 2006, the "almost new" 188 King Street #309 returned to the market this past May asking $850,000. Reduced to $750,000 in June and then $629,000 in September, yesterday the asking price was reduced to $599,000.

A sale at $599,000 would represent a 23% drop in value for this South Beach condo over the past three years. But as we wrote in April of 2008:

As you might recall, it was eighteen months [now three years] ago that we calculated that only seven of the 44 condos that compose 188 King Street had been sold on the open market despite "multiple releases" and five additional units being advertised as "sold" for marketing purposes (but retained by the developers).

And keep in mind that unsold units ended up becoming rentals (which could affect financing), and a week after the sale of #305 closed escrow [for $925,000 in May of 2006] the developer cut prices by up to $100,000 (which still didn't manage to move the sales needle at the time).

The resale of 188 King Street #305 ended up closing escrow in June of 2008 for $795,000. No word on whether or not that 14% drop in value from 2006 was "the bottom" at the time.

UPDATE: After 184 days on the MLS listed as a one-bathroom, it's an hour before a plugged-in reader notices there’s two different bathrooms featured in the listing photos for #309. And PropertyShark confirms, it’s actually a two bathroom condo (as was #305).

∙ Listing: 188 King Street #309 (1/"1") - $599,000 [MLS]
∙ 188 King Street #305 Returns To The Market (And Is Quickly Reduced) [SocketSite]
∙ 188 King Street: Sales Update [SocketSite]
∙ 188 King Street: The Rents [SocketSite]
∙ The Scoop On 188 King Street: Now Selling Leasing [SocketSite]
∙ Price Reductions At 188 King [SocketSite]

Posted by socketadmin at 7:00 AM | Permalink | Comments (37) | (email story)

November 11, 2009

You Can, Can, Can (And A Grand Reduction) At 1805 Broadway

Purchased for $3,400,000 in November of 2006 (but with a bunch of work done since), the grand scale Victorian at 1805 Broadway returned to the market six days ago asking $4,859,900. Three days ago its list price was reduced to $4,199,000.

The listing notes "formally (sic) the residence of a prominent San Francisco family," bonus points for the full scoop.

UPDATE: And as a reader notes, yes you can, can, can in the newly remodeled kitchen:

Listing: 1805 Broadway (5/5.5) - $4,199,000 [Murphy & O'Brien via Pacific Union]

Posted by socketadmin at 8:30 AM | Permalink | Comments (22) | (email story)

Will It Be Lucky Number Thirteen?

13 Lucky is currently a garage, used as a warehouse, and with aspirations of one day becoming a three-story single family home (with "preliminary approval" even).

Also according to the listing, there’s a possibility of seller financing (and no need for a pesky third-party appraisal) "for people with good credit history."

∙ Listing: 13 Lucky (lot/garage) - $299,000 [MLS] [Map]

Posted by socketadmin at 7:45 AM | Permalink | Comments (20) | (email story)

November 10, 2009

Coming Up Short On Apparent Appreciation In Bernal: 3661 Folsom

Purchased for $685,000 in 2005 (10% over asking at the time), it’s a plugged-in reader that notes the buyers of the single-family Bernal house put nothing down (there’s nothing like overbidding with other peoples’ money) and financed the investment with two variable rate loans.

Returning to the market eleven months ago with a newly remodeled interior and asking $875,000, the list price has since been reduced three times, most recently to $749,000 at the end of August as which point it became a hopeful short sale at $488 per square foot.

Which leads our reader to wonder, how could a home that’s listed for $64,000 (9%) over its purchase price possibly qualify as a short sale? And while we can’t say for certain in this case, the newly remodeled interior is probably a good guess. Negative amortization or a home ATM scenario could also be at play.

UPDATE: A plugged-in agent adds:

The seller was forced to put a substantial amount of money into the home because damage was done to its foundation by a major renovation of the house next door. I believe those expenses have helped make this a short sale.

∙ Listing: 3661 Folsom (3/2) - $749,000 [MLS]

Posted by socketadmin at 7:30 AM | Permalink | Comments (68) | (email story)

Three Years Later For A One Rincon Hill Townhome (And Comments)

Originally "released for sale" in March 2007 with prices "from $1.2 million to $1.8 million" for the 14 townhomes raning in size from 900 to 2,350 square feet, it was six months before that One Rincon Hill's Fall 2006 Newsletter was advertising "13 luxury townhomes along Harrison Street, starting at $1.4 million..."

Today, a One Rincon Hill two-bedroom plus den townhome (489 Harrison #302) hit the MLS asking $925,000 for 1,542 square feet ($600 per square). Call it a drop in sales office pricing of at least twenty-three percent (and likely over thirty).

A comment thread from 2007 starts:

Condos can easily drop 30-40% in SF during a correction. Any buyer at these new buildings should be prepared financially for this sort of event whether it happens or not. It is definitely a risk.

The classic (mis)conclusion at the time: those making such irrational statements must either be "disgruntled renters," "fence sitters" willing the market down, those who recently lost a home to foreclosure, or "people that missed out on early pricing at 1Rincon/Infinity."

And the 2009 versions? "Haters," "armchair amateurs," and "schadenfreude sickos."

∙ Listing: 489 Harrison #302 (2/2.5) 1,542 sqft - $925,000 [MLS]
∙ One Rincon Hill’s Townhome Collection "Officially" Released [SocketSite]
∙ One Rincon Hill’s Fall Newsletter And Update [SocketSite]

Posted by socketadmin at 6:00 AM | Permalink | Comments (37) | (email story)

November 9, 2009

Speaking Of Million Dollar Foreclosures (And "Shadow Inventory")

Purchased for $1,212,000 with ten percent down and two variable rate loans in November of 2005, 773 Rhode Island returned to the market in March of 2007 seeking $1,395,000. It was taken back by the bank in September of 2008.

It's now fourteen months later and the Potrero Hill view property has finally made it back onto the MLS as official inventory asking $909,900 (25% under its 2005 sale).

∙ Listing: 773 Rhode Island (3/2) - $909,900 [MLS]

Posted by socketadmin at 9:00 AM | Permalink | Comments (22) | (email story)

November 6, 2009

1381 Sanchez: Redesigned, Remodeled And Now Double The Size

Purchased for $1,005,000 in May 2008 (asking $899,000 at the time), 1381 Sanchez returns to the market with 4 bedrooms, 3 baths and 2,200 square feet (1,094 before).

Now asking $1,795,000 ($816 per square foot) for the completely remodeled (as designed by Shelly Amoroso) Noe Valley house.

∙ Listing: 1381 Sanchez (4/3) - $1,795,000 [MLS] [2008 Listing]
∙ Amoroso Design [amoroso-design.com]

Posted by socketadmin at 6:45 AM | Permalink | Comments (50) | (email story)

November 5, 2009

The (Eichler) Summit Of 999 Green Street #2802

According to a plugged-in tipster, the three-bedroom Eichler Summit #2802 was purchased "off the market" (unlisted on the MLS) for $2,500,000 in October of 2008. And the sale price might have been partially based on the "comp" sale of #2804 for $2,720,000 in December of 2007 (which "was in worse condition" than #2802).

Back on the market four weeks ago asking $2,099,000, the price for 999 Green Street #2802 has been reduced to $1,950,000. Yes, the kitchen and baths could use some updating, but it's a classic building with big views and a price 22 percent less than in 2008.

. Listing: 999 Green Street #2802 (3/2) - $1,950,000 [MLS]

Posted by socketadmin at 4:30 PM | Permalink | Comments (15) | (email story)

November 4, 2009

Absolutely Stunning Indeed

From the listing: "Absolutely stunning remodeled single family house." We’ll just have to agree. Now about Sandoval's illegal paving legislation…

UPDATE: A plugged-in reader gets the credit and we simply couldn’t resist: "Slap the proper adornment in the right place and you've got yourself your own little Portuguese flag." But damn it, now we’re craving some port.

∙ Listing: 410 45th Avenue (4/2) - $839,000 [MLS]
∙ We’re All In Favor (But Wondering If It Will Actually Work) [SocketSite]

Posted by socketadmin at 9:00 AM | Permalink | Comments (36) | (email story)

November 3, 2009

A Trio Of Comstock 05’s From Which To Choose, Are Any "Just Right?"

A tax assessed value of $2,393,000 would suggest a sale price not too far from the $2,350,000 asking price for 1333 Jones Street #505 when last on the market. Back on the market today, the two-bedroom and two-bath Comstock Co-op is asking $2,395,000.

Big views (which look even bigger through a telephoto lens), a "stunning" remodel (prior to the last sale), and a front door we kind of adore (although perhaps not on this unit).

Also on the market, the not so recently remodeled unit a floor above (#605) asking $2,399,000, and the not quite so view-tastic unit a floor below (#405) asking $1,645,000.

∙ Listing: 1333 Jones #405 (2/2) - $1,645,000 [MLS]
∙ Listing: 1333 Jones #505 (2/2) - $2,395,000 [MLS] [Previous Listing]
∙ Listing: 1333 Jones #605 (2/2) - $2,399,000 [MLS]

Posted by socketadmin at 10:00 AM | Permalink | Comments (16) | (email story)

November 2, 2009

The Oh So Sexy Showers Of 188 South Park #7 Return

As we wrote about 188 South Park #7 when the developer's unit was listed for $1,995,000 in 2006:

We’re suckers for a luxurious shower (and doubly so when it’s outside). So you can imagine our glee when we first noticed the five shower heads (including two separately controlled rain-heads and a steam function) in the his & her shower at 188 South Park #7, and then our surprise when we walked upstairs to discover an outdoor shower (with unobstructed views of the city). Now that's luxury.

As always, please don’t forget to invite us to the housewarming (but be forewarned, we’re bringing towels...).

We never did get invited to that housewarming. Then again, it didn’t sell (refinanced instead). We now have another chance, however, as it’s back on the market and asking $1,750,000. We're packing the towels now.

∙ Listing: 188 South Park #7 (2/2) - $1,750,000 [MLS]
∙ Oh So Sexy Showers [SocketSite]

Posted by socketadmin at 12:00 PM | Permalink | Comments (13) | (email story)

October 30, 2009

The Power Of Threes For A Remodeled 1155 Vallejo In Russian Hill

Three stories, three decks, three bedrooms and three (and one half) baths for the remodeled 1155 Vallejo asking just under three million ($2,995,000) in Russian Hill.

∙ Listing: 1155 Vallejo (3/3.5) - $2,995,000 [1155vallejo.com] [MLS]

Posted by socketadmin at 11:30 AM | Permalink | Comments (19) | (email story)

First Refreshed, Now Reduced For One Rincon Hill #806

Speaking of refreshed listings, withdrawn from the MLS in July after almost 120 days on the market at $945,000, the resale listing for One Rincon Hill (425 1st Street) #806 returned to the MLS two weeks ago asking $908,000.

Yesterday the list price was reduced to $899,000 for an official "15 days on the market" and a "$9,000" reduction from its "original" list. The resale of One Rincon Hill #1306 closed escrow in June with a reported contract price of $930,000 (tax records suggest an initial purchase from the developer at just over $975,000 in 2006).

If the sale of 425 1st Street #806 closed escrow tomorrow at its reduced ask, all MLS based aggregate statistics and market reports published by the San Francisco Association of Realtors, or Redfin, or Altos Research, or the likes of The RE Report would reflect a total of "16 days on the market" and a sale at "100% of list price" for this data point.

∙ Listing: 425 1st Street #806 (2/2) - $899,000 [MLS]
∙ An 06 Comp (In More Ways Than One) At One Rincon Hill [SocketSite]
∙ Quantifying The Impact Of Not Allowing Realtors To Reset DOM [SocketSite]

Posted by socketadmin at 9:45 AM | Permalink | Comments (71) | (email story)

It’s March Margarita Margarido Madness As 5950 Goes Live At $5.5M

With the flick of a switch and a plugged-in tip, The Margarido House (5950 Margarido Drive, Oakland) has officially gone from coming soon to on the market online.

The marketing site features a full gallery, plans and description for the five bedroom, five bath and 4,665 square foot LEED Platinum certified house in the Oakland Hills. The only detail that's conspicuously missing from the site, an official asking price.

UPDATE: Make that an official $5,500,000 (and the next time we spell Margarido correctly when searching Redfin).

∙ Listing: 5950 Margarido Drive (5/5), Oakland [themargaridohouse.com] [Redfin]
∙ There’s Green (And Perhaps Even Platinum) Up In Them Thar Hills [SocketSite]

Posted by socketadmin at 8:30 AM | Permalink | Comments (31) | (email story)

October 29, 2009

A New Dashiell Hammett Mystery: The Single-Family Short Sale

A single-family Edwardian "tucked away on quiet street between Nob Hill and Downtown neighborhoods," 33 Dashiell Hammett sold for $1,275,000 in January of 2007.

According to our tipster, it "looks like the current owner did minimal work on the house" since it's last sale, but did do a bit of repainting and "updated" the kitchen with new appliances.

Listed for $1,795,000 earlier this year and then $1,595,000 (with photos), the single-family home is now seeking $1,095,000 as a short sale.

∙ Listing: 33 Dashiell Hammett (3/2) - $1,095,000 [MLS] [Previous Listing with Photos]

Posted by socketadmin at 10:00 AM | Permalink | Comments (13) | (email story)

Three Years Later And A Thirteen Percent Drop At 1635 California

Unable to sell out in 2006, a number of 1635 California’s 36 condos quietly headed to the rental market. As we wrote that February:

1635 California opened its doors over three months ago and at least 7 of the units are still on the market (with more yet to be “released”). And although we were not able to secure a full pricing sheet (the agents staffing the open house seemed downright defensive when asked), nor any property statements (none were made available), we’ve still got some numbers for our readers…

One of those numbers was for 1635 California #63, listed for $835,000 at the time. It's back on the market with Vanguard again but now asking $729,000 (a drop of 13%).

As some might recall, we featured the apples to apples sale of 1635 California #33 last year, purchased for ~$780,000 in 2006 and re-sold for $740,000 in 2008 (a drop of 5%).

∙ Listing: 1635 California Street #63 (2/2) - $729,000 [MLS]
∙ 1635 California Street [SocketSite]
∙ Another Apple Speaks On The Edge Of Nob Hill (1635 California #33) [SocketSite]

Posted by socketadmin at 8:30 AM | Permalink | Comments (4) | (email story)

October 27, 2009

Overlooking Architecture (And Upgrades) At The Montgomery (#502)

According to our plugged-in inside source, The Montgomery (74 New Montgomery) #502 offers great light and is surprisingly quiet ("thick walls and double-pane windows really keep the noise out").

Also noted, "the owners put a lot of money into it - subzero fridge (not a builder option) and custom cabinetry in living room, master bedroom and 2nd bedroom" so it’s not an apples to apples to comparison.

That being said, purchased for a recorded $1,242,500 in June 2008, asking $945,000 today (24% under its un-upgraded value in 2008). It's been on the market for 188 days with an original list price of $1,050,000.

Regardless, we're digging the old school city vistas and architecture.

∙ Listing: 74 New Montgomery #502 (2/2) 1,010 sqft - $945,000 [MLS]
∙ 74 New Montgomery: Soon To Be Sold Out Assuming Contracts Close [SocketSite]

Posted by socketadmin at 12:30 PM | Permalink | Comments (64) | (email story)

October 26, 2009

A Reader’s Report And Recommendation Across The Bay: 2830 Garber

A plugged-in San Francisco tipster crosses the bay and reports on 2830 Garber Street:

I saw it yesterday and I have rarely seen so much traffic at an open house. It has 3 bedrooms and 2 baths on the top floor, and all of the bedrooms have Golden Gate and Bay View Bridge views.

It was built by the well known architect George Plowman as his personal residence and it is perfect example of Arts and Crafts architecture. The kitchen has been updated, but otherwise all the original details in intact.

It also has a basement area that could be used as an Au Pair residence or rented out to a student.

This area of Claremont Court is probably the best neighborhood in Berkeley and compares favorably with Rockridge or Noe Valley. This home would probably cost double this price in Noe or Forest Hill, if you could even find it.

And no, our tipster is neither an - much less the - agent nor has any vested interested in the sale of the property (as far as we know).

∙ Listing: 2830 Garber Street (3/2.5), Berkeley - $1,150,000 [Grubb Co.]

Posted by socketadmin at 2:30 PM | Permalink | Comments (23) | (email story)

October 23, 2009

Dark Light Passage At 1360 Montgomery: Outside And Atop

Designed by Irvin Goldstine and built in 1937, the Art Moderne Malloch building at 1360 Montgomery played a role in Dark Passage starring Bogart and Bacall.

Originally twelve apartments, the building was subsequently converted to condominiums. And while the vintage "Penthouse #12" isn’t listed, it is on the market.

1,080 square feet with one-bedroom, one-bath and over 700 square feet of outdoor space overlooking the bay; plus there's a 200 square foot "bonus" room, bath and terrace on the roof accessed via stairs on the deck.

One parking space and big, big bay and Telegraph Hill views (including Coit Tower from the bed). Asking $1,500,000 with monthly HOA dues of $544.

UPDATE (10/27): As a plugged-in tipster notes, 1360 Montgomery #12 is now listed (and official inventory).

Full Disclosure: The listing agent for 1360 Montgomery #12 advertises on SocketSite but provided no compensation for this post (but did provide a tour and photos at our request).

∙ Listing: 1360 Montgomery #12 (1/1+) - $1,500,000 [penthouseontelegraphhill.com]
∙ Malloch building: suave delight on storied hill [SFGate]

Posted by socketadmin at 8:00 AM | Permalink | Comments (44) | (email story)

October 22, 2009

A Potentially Bitter Apple In Lower Pacific Heights: 3016 Pine Returns

As a reader notes, 3016 Pine Street is back on the market and is now listed for $2,350,000. On the market six months ago asking $2,595,000 before being withdrawn, purchased in July 2006 for $2,725,000.

As another plugged-in reader added in April:

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).

A sale at its reduced asking would represent a 14% decline in value since July 2006 for this Lower Pacific Heights single-family home.

UPDATE: In the words of a tipster, a before photo "for those who are calling the current incanation fugly":

∙ Listing: 3016 Pine Street (5/3.5) - $2,350,000 [MLS]
∙ An Apple Rather Than Cone On The Pine Street Tree (3016 Pine) [SocketSite]

Posted by socketadmin at 10:15 AM | Permalink | Comments (32) | (email story)

October 21, 2009

Trying To Tell It Like It Is For 114 Crescent Avenue In Bernal Heights

From the listing (verbatim) for 114 Crescent Avenue:

50K pride redution. This is a beatiful house. It was just too much money before we reduced the price!

Now asking $875,000 for the the single-family home on the southern side of Bernal Heights. Purchased for $960,000 in July of 2005 (8.8% under its reduced ask). And no sale after 30 days on the market at $925,000.

We're assuming the renovation was prior to the last purchase, and as such it would likely have been more expensive on a per square foot basis than any neighborhood average including a mix of unrenovated homes in 2005. But apples to apples it works.

∙ Listing: 114 Crescent Avenue (3/2) - $875,000 [MLS]

Posted by socketadmin at 3:00 PM | Permalink | Comments (45) | (email story)

October 20, 2009

Buy A BMR...For $10K More Than Bank-Owned At Candlestick Point

The Mayor’s Office of Housing is helping to promote the resale of Candlestick Point (101 Crescent Way) Below Market Rate unit #2213. It’s two bedrooms, two baths, 1,063 square feet and asking $399,945 with purchase and resale restrictions.

If interested, you might also want to take a look at the bank owned Candlestick Point #2305. It’s two bedrooms, two baths, 1,063 square feet and asking $389,900. And it's without any restrictions – other than the free market – of course.

∙ Listing: 101 Crescent Way #2213 (2/2) 1,063 sqft - $399,945 [MLS]
∙ Listing: 101 Crescent Way #2305 (2/2) 1,063 sqft - $389,900 [MLS]

Posted by socketadmin at 10:00 AM | Permalink | Comments (26) | (email story)

Suspended Disbelief (And Renderings) For 15 Surrey

As the 625 Square foot one bedroom and one bath 15 Surrey Street looked in August of 2007 when purchased for $731,000. And for the most part as it looks today.

Back on the market and asking $995,800 with "approved plans" for a 2,884 square foot four-bedroom and three and one-half bath Glen Park view home. As proposed:

For some strange reason a photo of its current state wasn’t included with the listing.

∙ Listing: 15 Surrey (1/1) - $995,800 [MLS] [Map]

Posted by socketadmin at 8:00 AM | Permalink | Comments (47) | (email story)

A "Fresh" Look At Firehouse 44 (3816 22nd Street) After 515 Days

It’s been on the market since May 22, 2008. And during that time the asking price has dropped from $6,375,000 to $5,175,000. And no, 3816 22nd Street (a.k.a. Firehouse 44) isn’t in contract.

But a new photo has been added to the listing (although not the one above). Perhaps it's an attempt to keep the 515 days on the market listing "fresh."

Once again, a few of the "before" photos and history.

∙ Listing: 3816 22nd Street (4/4.5) 6,140 sqft - $5,175,000 [firehouse44.com/] [MLS]
∙ The Holy Hotness Of Firehouse 44 (3816 22nd Street) Hits The Market [SocketSite]
∙ Holy Hotness, History, And Home: Engine Company No. 44 Returns [SocketSite]

Posted by socketadmin at 7:30 AM | Permalink | Comments (15) | (email story)

October 19, 2009

104 Collins: This Time It’s Personal On The Market

Added to our Curb Appeal archives in 2005, and answering questions about the architect (Brad Polvorosa) and landscape designer (Peter Kline) in 2006, the Laurel Heights home wasn’t on the market at the time. But now 104 Collins is and you get to peek inside.

∙ Listing: 104 Collins (3/3) - $1,795,000 [MLS]
∙ Curb Appeal: 104 Collins [SocketSite]
∙ 104 Collins: The Architect And Landscape Designer [SocketSite]

Posted by socketadmin at 8:45 AM | Permalink | Comments (42) | (email story)

Laying Down The Lawton For 2005 Neighborhood Comp Number 335

Unfortunately neither the kitchen nor baths match the condition of the living, dining or entry hall. And don’t get us started on those replacement windows.

Purchased for $1,175,000 in July of 2005, 335 Lawton is back on the market and seeking $999,000 as a short sale today (15% under its 2005 price).

∙ Listing: 335 Lawton (3/2) - $999,000 [MLS]

Posted by socketadmin at 7:45 AM | Permalink | Comments (9) | (email story)

October 16, 2009

A Peek Inside The "Party Of Five" House At 2311 Broadway

Plugged-in people knew it was coming soon, and as a reader notes, 2311 Broadway (a.k.a. the "Party of Five" house) is now officially here.

Asking $7,280,000 for the seven bedrooms and five and one-half baths (which look to be in rather good shape). And it does appear to offer some rather nice views.

Once again, purchased for $5,400,000 in October 1999. And no, that party should (or would) not have had it so good.

∙ Listing: 2311 Broadway (7/5.5) - $7,280,000 [2311broadway.com] [MLS]
∙ "Party Of Five" House (2311 Broadway) Coming Soon [SocketSite]

Posted by socketadmin at 4:00 PM | Permalink | Comments (9) | (email story)

Still Defying Gravity At Glen Park Market Place?

A few months after the 15-unit Glen Park Market Place premiered, 53 Wilder Street #406 closed escrow for $855,000 (September 2006). It’s two bedrooms, two baths and 1,249 square feet. And it’s back on the market and asking $839,000 (2% under its 2006 price).

Interestingly enough, a two bedroom, two bath and 1,279 square foot unit next-door (53 Wilder Street #405) sold for $871,000 this past April. It had been purchased for $810,000 in November 2006. As a plugged-in tipster noted about the sale at the time:

The only explanation I can come up with for the gravity-defying price is that Glen Park village has improved significantly in the meantime. The new Canyon Market on the ground floor seems to be successful and some nice new restaurants (Le P'tit Laurent, Sangha) have opened within 60 seconds walk.

Neighborhood, building or property changes can definitely muddle an "apples to apples" comparison when trying to divine how "the market" is moving. That being said, back to 53 Wilder #406 (or #203 which has been on the market for 70 days at $749,000, purchased for $729,000 in September of 2006).

Will changes in the village continue to help Glen Park Market Place defy beyond #405?

UPDATE: From the aforementioned tipster: "I should point out that one of the restaurants I cited (Sangha) has since closed." Perhaps that's what's changed for #406...

∙ Listing: 53 Wilder #203 (2/2) 1,212 sqft - $749,000 [MLS]
∙ Listing: 53 Wilder #406 (2/2) 1,249 sqft - $839,000 [MLS]
∙ Glen Park Market Place: Range Of Prices And BMR Deadline [SocketSite]

Posted by socketadmin at 8:00 AM | Permalink | Comments (72) | (email story)

October 15, 2009

It's Fall At The Four Seasons (765 Market Street) For #27B

With no reported or recorded purchase price we could find, the tax assessed value of $1,204,542 for The Four Seasons (765 Market) #27B would suggest a lowest possible original purchase price of just over a million dollars assuming a purchase from the developer in 2001 and maximum yearly reassessments.

Listed for sale at $1,695,000 this past March, the price was reduced to $1,595,000 in April, to $1,395,000 in June, to $1,325,000 in July, to $1,250,000 in September, and to $999,000 the day before yesterday.

That being said, we can’t call it year 2001 pricing for this Four Seasons condo, for as a plugged-in tipster notes, "Apartment is being sold furnished with classically designed furniture and lighting. Eclectic art collection included."

And as at least one voice is sure to shout out, it's still $995 per square foot! But that would be eight years without any effective appreciation. And a rather significant fall from peak.

∙ Listing: 765 Market #27B (1/1.5) - $999,000 [MLS]

Posted by socketadmin at 10:30 AM | Permalink | Comments (12) | (email story)

October 13, 2009

An Apples To Apples (And Rather Prime) Update For 2041 Sacramento

As we wrote last month:

Purchased for $2,286,500 in June of 2007, the top floor condo with two car parking at 2041 Sacramento is listed for $2,095,000 today. A sale at asking would represent an 8.4% drop in value over the past two years for this remodeled Pacific Heights condo home.

On Sunday the list price was reduced to $1,999,000. Assuming it sells for its new asking, call it a 12.6% drop in value over the past two years for this Pacific Heights condo home.

∙ Listing: 2041 Sacramento #Top (3/3) - $1,999,000 [MLS]
∙ North To South (And Apples To Apples) From Atop 2041 Sacramento [SocketSite]

Posted by socketadmin at 8:00 AM | Permalink | Comments (11) | (email story)

A Look Inside (Almost) Every Nook and Cranny Of That Monster

Plugged-in people knew it was coming and that the stagers were in the house. Now as another reader notes, with 73 listing photos welcome to the most exhaustive look inside Kirk Hammett’s old home (2505 Divisadero).

And yes, Hammett's recording studio appears to have been re-dubbed a "family room."

∙ Listing: 2505 Divisdero (8/8.5) - $8,995,000 [MLS] [Nina Hatvany]
∙ Kirk Hammett’s Pacific Heights Monster Is Back (2505 Divisadero) [SocketSite]
∙ Some Kind Of Monster In This Kind Of Market (2505 Divisadero) [SocketSite]
∙ Rock Star Floor Plan Porn [SocketSite]

Posted by socketadmin at 7:30 AM | Permalink | Comments (15) | (email story)

October 9, 2009

The Best Possible Spin For A Bank-Owned Home In Eureka Valley

From the listing for 4105 21st Street:

Amazing new price! This property has been stripped of the appliances, many fixtures and hardware. .. this gives you an opportunity to come into a newly remodeled house and finish it as you like!

Purchased for $1,725,000 in July of 2005 and now owned by the bank (as opposed to the appliances, fixtures and hardware).

∙ Listing: 4105 21st Street (3/2) - $1,499,000 [MLS]

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

Apples To Apples On Anderson (#78) Atop Bernal Heights

Purchased for $990,000 in December of 2007, the four bedroom and two bath "updated Bernal cottage" at 78 Anderson is back on the market and asking $997,000. If you think you know Bernal, now’s the time to make the call (or don't bother with an "I told you so!").

∙ Listing: 78 Anderson Street (4/2) - $997,000 [MLS]

Posted by socketadmin at 9:15 AM | Permalink | Comments (27) | (email story)

October 8, 2009

590 Laidley: A Nod To Uniqueness (At Least On The Outside)

No real story of which we know. Just call it a nod to uniqueness and chance to peek inside.

∙ Listing: 590 Laidley (2/1) - $689,000 [MLS]

Posted by socketadmin at 5:15 PM | Permalink | Comments (13) | (email story)

Short And Shorter At The Beacon (250 King)

From the listing for The Beacon (250 King) #860:

Approved Short Sale 9/30/09 AT $470K!!! Should close VERY quickly at this point.

Originally listed for $488,888 at which point it didn't close very quickly (it’s been on the market for three months) and purchased in February of 2007 for $672,000. Call it an already approved reduction of 30%.

And while we doubt this one has been approved (i.e., good luck), another one-bedroom short sale at the Beacon was just listed for "$300,000." Purchased for $599,000 in September of 2006.

∙ Listing: 250 King Street #00045 (1/1) 800 sqft– “$300,000” [MLS]
∙ Listing: 250 King Street #860 (1/1) 909 sqft – $470,000 [MLS]

Posted by socketadmin at 11:00 AM | Permalink | Comments (41) | (email story)

Buy, Sell, Repeat, Retire...And Then The Music Stopped

Purchased for $820,000 in May of 2004, this Central Richmond home was resold in July of 2005 for $1,200,000. Bought back by the bank this past January, 595 32nd Avenue was listed a month ago for $774,900 and recently reduced to $774,700.

As a plugged-in tipster notes, a rent roll of $2,000 according to the MLS. Hopefully that doesn’t include - or better yet, only includes - the in-law.

∙ Listing: 595 32nd Avenue (3/2) - $774,700 [MLS]

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

October 7, 2009

Remodeled And Reduced Rooms With A View

Purchased for $2,442,000 in June of 2007 but then "remodeled by the current owners," the list price for 1100 Union #300 has been reduced to $2,695,000 after 111 days on the market at $2,995,000.

And as a plugged-in reader notes, the list price for the Stanley Saitowitz designed Marquee Lofts #702 has been reduced to $1,365,000. Purchased for $1,400,000 in November of 2004 and once asking $1,800,000 (197 days ago).

∙ Listing: 1100 Union #300 (2/2.5) - $2,695,000 [sfproperties.com] [MLS]
∙ Listing: 151 Alice B. Toklas Place #702 (2/2) - $1,365,000 [Alain Pinel] [MLS]
∙ Insert Your Head Here (From The Terrace Of 1100 Union #300) [SocketSite]
∙ Name Dropping Hollywood Style: Marquee Lofts #702 [SocketSite]

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

October 6, 2009

See Inside But Not Around Jackson Square (845 Montgomery) #C

It looks to be one of the first attempted resales at Jackson Square (845 Montgomery).

And while we can’t confirm the original purchase price, according to a tipster the current asking price for the two-bedroom 845 Montgomery #C ($1,095,000) is roughly ten percent higher than its April 2008 purchase.

That being said, keep in mind that two bedroom homes were listed "from $1,200,000" when the development first opened in 2007. No report of any difficulties keeping the side of that master tub clean.

UPDATE: As a couple of plugged-in readers quickly figured out, fourteen listing photos of parks, places and restaurants, the closest one of which is about a mile away despite a plethora of better restaurants within blocks of 845 Montgomery's doors.

UPDATE: Assuming realtor.com is correct, purchased for $1,000,000 on 4/15/2008.

∙ Listing: 845 Montgomery Street #C (2/2) - $1,095,000 [MLS]
∙ The Jackson Square Condominiums (847 Montgomery) [SocketSite]

Posted by socketadmin at 10:00 AM | Permalink | Comments (39) | (email story)

October 5, 2009

The Renovation Of 3855 Washington: Before, After And Inside

While we have the before (above) and after (below) photos for 3855 Washington...

...as promised, the offering now features a few interior shots and a website as well.

∙ Listing: 3855 Washington (6/6.5) - $8,000,000 [3855washington.com] [MLS]
∙ 3855 Washington Joins The Recently Renovated "Heights" Fray [SocketSite]

Posted by socketadmin at 9:45 AM | Permalink | Comments (24) | (email story)

Feel Like A Feudal Lord In Forest Hill Extension: 112 Kensington Way

The empty Forest Hill Extension lot at 112 Kensington Way above, a rendering of the "approved" plans for a 5,652 square foot "French Provincial estate" on the site below.

Asking $998,000 for the lot and plans presumably. And sorry neighbor(s), we kid you not.

∙ Listing: 112 Kensington Way (lot) - $998,000 [MLS] [Map]

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

October 2, 2009

Quite Simply, We’re Suckers For The Arts (And Crafts)

Quite simply, we’re suckers for Arts & Crafts (even if it’s only "inspired by").

∙ Listing: 2 Ord Court (1/1) 1,100 sqft - $875,000 [secludedordcourt.com] [MLS]

Posted by socketadmin at 10:45 AM | Permalink | Comments (34) | (email story)

A Contemporary In 2003 Is Back On The Market In 2009, Is It Still So?

One of three relatively modern (or at least contemporary) homes in a row on 27th Street, 622 is on the market and asking $2,349,000. Purchased for $1,559,500 in 2003.

Not open this weekend, but there is a Tuesday Tour for brokers and floor plans to share.

∙ Listing: 622 27th Street (3/2.5) - $2,349,000 [MLS] [Map]

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

3855 Washington Joins The Recently Renovated "Heights" Fray

Adding to the expanding inventory of multi-million dollar "Heights" homes that have recently undergone multi-million dollar renovations and are now all hitting the market comes 3855 Washington with an asking price of $8,000,000. Interior photos coming soon.

∙ Listing: 3855 Washington (6/6.5) - $8,000,000 [MLS]

Posted by socketadmin at 7:15 AM | Permalink | Comments (14) | (email story)

1495 Valencia: Two Of Eight New "City Homes" Now Official Inventory

Two of eight new "2 and 3 Bedroom City Homes" at 1495 Valencia have been listed with prices of $739,000 for #3 (a two-bedroom) and $999,000 for #4 (a three-bedroom). Two car parking each. And a logo that apparently cost 300 bucks.

∙ Listing: 1495 Valencia #3 (2/2.5) 950 sqft - $739,000 [MLS]
∙ Listing: 1495 Valencia #4 (3/3) 1,425 sqft - $999,000 [MLS]

Posted by socketadmin at 7:10 AM | Permalink | Comments (10) | (email story)

We Have A 310 Townsend (#303) In Progress

Originally asking $957,000 through the sales office in 2007, 310 Townsend #303 ended up selling for $850,000 in November of that year (a discount of 11.2%). Back on the market today after a two year hold and asking $785,000 (7.6% below it purchase price, 18% under the developer’s original list).

Let’s call it an effective rent of around $4,000 per month for the one-bedroom plus den condo over the past two years not accounting for transaction costs or any capital loss (assuming a sale at asking). Call it closer to $9,200 per month if you do.

∙ Listing: 310 Townsend #303 (1/1) 1,136 sqft - $785,000 [MLS]
∙ 310 Townsend: Available And Selling [SocketSite]

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

October 1, 2009

Hitting For The Heublien Building Penthouse Cycle (#PH3)

We’ve featured the Heublien Building penthouse lofts number one and two in the past, so we might as well hit for the cycle with number three (601 4th Street #PH3).

Purchased for $1,500,000 in October 2006 (and then possibly remodeled), on the market and asking $1,498,000. And yes, it’s Evan Williams' old pad.

∙ Listing: 601 4th Street #3P (2/2) - $1,498,000 [MLS]
∙ The Heublien Building Lofts (601 4th Street) [SocketSite]
∙ A Truly Unique San Francisco Space And Penthouse: 601 4th St PH1 [SocketSite]
∙ Penthouse Number Two Of Three Atop Six Zero One Fourth [SocketSite]

Posted by socketadmin at 1:00 PM | Permalink | Comments (16) | (email story)

September 30, 2009

If You Missed It When It Sold Five Months Ago...

As a plugged-in and ever on the luxury ball sleepiguy notes, 3570 Washington is back on the market after a five month (yes, month) hold. Purchased for a reported $5,225,000 in April, asking $5,600,000 today (roughly 7% more than was paid).

Floor plans and additional photos via the previous listing brochure. Watch your fingers, the ink might still be wet.

UPDATE (10/1): The current listing's virtual tour is now live.

∙ Listing: 3570 Washington (6/3.5) - $5,600,000 [presidioheightsviewhome.com] [MLS]
∙ Kirk Hammett’s Pacific Heights Monster Is Back (2505 Divisadero) [SocketSite]

Posted by socketadmin at 5:15 PM | Permalink | Comments (42) | (email story)

If Only They Would Be Willing To Accept Virtual Mini-Dollars As Well

Speaking of recently staged, we can’t help but notice the first attempted Millennium flip resale has received a "virtual" treatment (click photo above to enlarge).

And while we applaud the "photo virtually staged" watermarks, we’re amazed at how much virtual furniture can fit in that real space: a couch with four armchairs and coffee table, a dinning room table for eight, and even a baby grand!

All in a twenty-five by thirty foot living room and kitchen with island? That’s incredible! Just ignore the original architects’ scaled drawing, perspective and floor plan.

∙ Listing: 301 Mission #40D (3/3) 1,952 sqft - $2,750,000 [ninahatvany.com] [MLS]
∙ The First Attempted Millennium Flip Resale: 301 Mission #40D [SocketSite]
∙ Inside A Recently Staged 2006 Washington Number Four [SocketSite]

Posted by socketadmin at 11:15 AM | Permalink | Comments (33) | (email story)

A Peek Inside A Recently Staged 2006 Washington Number Four

While "totally empty as of a couple of weeks ago," as a plugged-in reader notes with respect to 2006 Washington Number 4:

New Interior Pics online that should put to rest any questions about the interior condition of this unit. Although no pics of kitchen and some of the pics seem a bit overly staged.

Once again, originally listed for $15,000,000 with McGuire and then reduced to $12,500,000 in March, now listed with Malin (Coldwell Banker) and asking $8,500,000.

∙ Listing: 2006 Washington #4 (5/5.5) - $8,500,000 [sfproperties.com] [MLS]
∙ 2006 Washington Number 4 Returns Asking 32 (Plus) Percent Less [SocketSite]

Posted by socketadmin at 7:00 AM | Permalink | Comments (11) | (email story)

September 25, 2009

Another "Diabase LLC" Debacle As 1417 15th Street Returns?

Asking $3,750,000 for the one bedroom but 8,200 square foot BIG HOUSE studio in early 2007, but then subsequently reduced to $3,250,000, an off-the-MLS sale of 1417 15th Street was recorded in the amount of $3,065,000 to "Diabase LLC" at the end of that year.

Re-listed in November for $3,295,000 ("Buy, Sell, Repeat, Retire"), but it failed to sell. Back on the market in the Mission today and asking $2,750,000.

And perhaps it’s purely coincidence, but as a plugged-in reader notes, a "Diabase LLC" purchased 1756 North Point down in the Marina for $1,920,000 in April of 2007. It sold again for $1,575,000 in May of 2009.

∙ Listing: 1417 15th Street (1/2.5) - $2,750,000 [MLS]
∙ Picture This: One Big One-Bedroom [SocketSite]
∙ Two Relatively Big Reductions (Two Absolutely Big Properties) [SocketSite]
∙ Another "Real" Apple Closes Escrow In The Marina: 1756 North Point [SocketSite]
∙ A Rather "Real" Apple On The Tree In The Marina: 1756 North Point [SocketSite]

Posted by socketadmin at 11:00 AM | Permalink | Comments (6) | (email story)

September 23, 2009

2140 Jefferson: Apparently "Lease To Own" Wasn’t An Option For Thiel

Speaking of big homes that private equity "bought," according to a plugged-in tipster 2140 Jefferson was home to Peter Thiel of PayPal and Clarium Capital notoriety. The twist, he was but a lowly renter of the $8,180,000 (asking) 7,000 square foot Marina home.

∙ Listing: 2140 Jefferson (5/5.5) - $8,180,000 [2140jefferson.com] [MLS]
∙ The Numbers Behind Perkins' Millennium Penthouse Purchase [SocketSite]

Posted by socketadmin at 7:00 AM | Permalink | Comments (26) | (email story)

Have We Seen This Marquee Lofts (#708) Movie Before?

As we wrote in July:

As a plugged-in reader notes, a fully remodeled and renovated Marquee Lofts (151 Alice B. Toklas Place) #708 has returned to the market asking $739,000 following its kitchen-less foreclosure sale for $580,000 in June of 2008.

Once again, Marquee Lofts #708 first changed hands on 9/30/04 for $607,500; sold on 10/05/06 for $865,000; and was bought back by Merrill Lynch Mortgage Lending for $708,933 on 1/9/08.

After 103 days on the market the list price for 151 Alice B. Toklas Place #708 has been reduced $40,000 (5%) to $699,000 and the listing now notes: "MOTIVATED SELLER!! Price reduction, make an offer!"

No word on how much was invested in the new kitchen, bathroom or rest of the renovation, but we'll be keeping an eye on Craigslist.

∙ Listing: 151 Alice B. Toklas Place #708 (1/1) - $739,000 [MLS] [YouTube]
∙ A Remodeled Marquee Lofts #708 Returns…With A Kitchen! [SocketSite]
∙ Change Of Heart, Cash Crunch, Or A Condo Sitter Gone Crazy? [SocketSite]
∙ From Foreshadowing To Foreclosure For A Marquee Loft Off Van Ness [SocketSite]
∙ Another Non-Comp Comp Along The Booming Van Ness Corridor [SocketSite]

Posted by socketadmin at 6:00 AM | Permalink | Comments (26) | (email story)

September 21, 2009

2849 Pacific: A Million Dollar (Double) "Take"

As we wrote in August:

If our plugged-in tipster is correct, 2849 Pacific will be hitting the market in a couple of weeks after a "big money [but no designer] redo" and with an asking price of around $13,000,000 (give or take a million).

As a number of plugged-in reader’s noted last week, 2849 Pacific has been officially listed and is asking $14,000,000. So make that "take."

No, it’s not zero bedrooms and three baths as listed. But yes, parking for eight.

∙ Listing: 2849 Pacific - $14,000,000 [MLS]
∙ Cleaned Up And Coming Soon: 2849 Pacific [SocketSite]

Posted by socketadmin at 5:30 AM | Permalink | Comments (35) | (email story)

The Liberty Belle (366 Liberty) Is Rung Again And By The AIA

The agent owned 366 Liberty received a unaffiliated tipster’s ringing design endorsement in July, landed on the AIA Home Tour last week (designed by Cary Bernstein), and is officially back on the market and asking $2,595,000 (down from $2,850,000).

∙ Listing: 366 Liberty (3/2.5) - $2,595,000 [366libertystreet.com] [MLS]
∙ A Ringing Endorsement For A Liberty Belle (366 Liberty) [SocketSite]
∙ AIA's 2009 San Francisco Living: Home Tours (Plugged-In) Challenge [SocketSite]

Posted by socketadmin at 3:45 AM | Permalink | Comments (5) | (email story)

September 18, 2009

1223 Bosworth Wins First To List Challenge (And You A Peek Inside)

Officially hitting the market/MLS yesterday, we have our answer to which of the 2009 AIA San Franisco Living Home Tour homes would be the first to do so: 1223 Bosworth.

Design by Sasaki architect Strachan Forgan for himself, constructed in 2007, and featuring two master suites (plus a half-bath), a double height living room with lots of glass, "energy efficient materials and fixtures," radiant heating, and a 2 (plus) car garage.

And did we mention the climate controlled 400 bottle Vigilant wine racks or the climate controlled and digitally locked server room? Hello blogopreneur(s)...

∙ Listing: 1223 Bosworth (2/2.5) - $1,479,000 [1223bosworth.com] [MLS]
∙ AIA's 2009 San Francisco Living: Home Tours (Plugged-In) Challenge [SocketSite]

Posted by socketadmin at 7:15 AM | Permalink | Comments (55) | (email story)

September 17, 2009

Where Tony Bennett Left His Heart In San Francisco

From a plugged-in tipster with respect to 1133-1143 Taylor:

[I]t wasn't necessarily the building that caught my attention, as was the fact that the top unit (the owners unit penthouse) was where Tony Bennett wrote "I left my heart in San Francisco" and lived for a while.

Unfortunately we can’t confirm, but we have no reason to doubt (especially upon seeing said penthouse and its views).

∙ Listing: 1133-1143 Taylor (10 units) - $5,295,000 [MLS]

Posted by socketadmin at 2:00 AM | Permalink | Comments (12) | (email story)

September 16, 2009

Confidential Sales In More Ways Than One: 2430 Broadway

A plugged-in tipster notes that while not listed or official “inventory,” 2430 Broadway is on the market. As our tipster notes, "totally redone by Ann Brown a few years back, [and] it's a bit odd because the house sold in 2001 and again in 2004."

Neither the 2001 or 2004 sale prices were reported, but the 2004 sale included a $4,795,000 variable rate loan on what tax records would suggest was a roughly $7 million sale. The 2001 sale involved $5,500,000 in variable rate loans and was asking $8.9 million at the time. And in 2007 the property was refinanced with a $5 million fixed.

Price "upon request" (or as soon as another tipster picks up the phone).

∙ Listing: 2430 Broadway – “Price Upon Request” [Byzantium]

Posted by socketadmin at 11:15 AM | Permalink | Comments (21) | (email story)

Care To Get Your Castle On? A Restored Albion Castle Returns

A few months after Laughing Squid launched their blog from Albion Castle in early 2005 the Hunter’s Point property at 881 Innes Avenue was auctioned off at the Palace Hotel in front of a thousand spectators and sold for $2,090,000 (purchased for $400,000 in 1999).

The mortgage banker buyer had planned to resurrect the Albion Porter & Ale Brewery for which the castle was originally constructed and open a restaurant on-site as well. And while the restaurant and re-brewery plans never materialized, the interior of the San Francisco Historic Landmark was renovated and restored.

Back on the market and asking $2,950,000 which includes water rights to a 10,000 gallon per day underground spring (think late night "pool" parties back in the day).

∙ Listing: 881 Innes Avenue (4/2) - $2,950,000 [MLS] [Map]
∙ The Albion Castle [Albioncastle.Us]

Posted by socketadmin at 5:30 AM | Permalink | Comments (35) | (email story)

September 15, 2009

Through The Looking Glass Floors Of 601 4th Street #319

One of 88 live/work lofts in the Holliday Development’s 1991 Heublien Building conversion, 601 4th Street #319 last sold for $335,000 in September 1995. Since then, however, the 1,965 square foot loft has undergone a rather extensive (and expensive) renovation.

A few features that caught our eye: Zebra and African Wenge wood cabinets; Solher Iron stairs and catwalk; and Bazaza, Waterworks, and Ocean Side Glass tiles. And yes, two deeded parking spaces (so you can leave the vehicles parked between jaunts to Stinson, Yosemite and Tahoe).

∙ Listing: 601 4th St #319 (2/2) 1,965 sqft - $1,349,000 [Climb] [MLS]
∙ The Heublien Building Lofts (601 4th Street) [SocketSite]

Posted by socketadmin at 5:45 AM | Permalink | Comments (10) | (email story)

See, Two (Shower) Heads Are Better Than One...

Agent owned and listed as a short sale, 4096 17th Street #206 was purchased for $500,000 in October of 2005 and then remodeled. And while there’s only one bedroom and one bath, there are two shower heads (and a listing that, umm...features the feature).

∙ Listing: 4096 17th Street #206 - $549,000 [MLS]

Posted by socketadmin at 3:00 AM | Permalink | Comments (35) | (email story)

501 Beale #12G: No Short Sale For You! (Foreclosure Instead)

Purchased for $975,000 in May of 2006, Watermark (501 Beale) #12G returned to the market this past June as a short sale with a “$500,000” list price. Taken back by the bank in August with a loan balance of $760,000, it’s back on the market and asking $749,000.

A sale at asking would represent a 23% drop in value for the 1,032 square foot luxury two-bedroom condo over the past three years.

∙ Listing: 501 Beale #12G (2/2) 1,032 sqft - $749,000 [MLS]
∙ What’s Up With The Watermark "G"s? [SocketSite]
∙ Oh Geez, Watermark (501 Beale) Number 12G Returns As A Short Sale [SocketSite]

Posted by socketadmin at 2:30 AM | Permalink | Comments (11) | (email story)

September 11, 2009

Nine Years (Including Six Of Construction) In The Making: 2935 Pacific

Purchased for $4,125,000 in the year 2000 for the lot value, the newly constructed 2935 Pacific has been nine years in the making including six years (and nearly 100 vendors and sub-contractors) of construction. Now on the market and asking $12,900,000.

Eight bedrooms, seven full baths (three powder rooms), and a 2,500 square foot rooftop terrace with kitchen, built-in Jacuzzi and views. A property specific website is coming soon.

The still asking $65,000,000 2845 Broadway is across the street and a few doors down.

Full Disclosure: The listing agent for 2935 Pacific advertises on SocketSite but provided no compensation for this post.

∙ Listing: 2935 Pacific (8/7) - $12,900,000 [MLS]
∙ The $65,000,000 House [SocketSite]

Posted by socketadmin at 9:15 AM | Permalink | Comments (59) | (email story)

Can’t Sell Raffle? (1240 5th Avenue Returns)

The "$2.4 million San Francisco dream home raffle" grand prize (1240 5th Avenue), which the winner of the raffle turned down in exchange for $1.8 million in cash, is back on the MLS.

Last listed for $2,280,000 before being withdrawn prior to the raffle, and originally asking $2,389,000 this past September, they're asking $2,100,000 for the "$2.4 million dream home" today.

As we wrote in March: "We can’t argue with the Yerba Buena cause, but the market might argue with that "$2.4 million" valuation."

∙ Listing: 1240 5th Avenue (6/6.5) - $2,100,000 [MLS]
∙ Can’t Sell? Raffle! 1240 5th Avenue: The "San Francisco Dream House" [SocketSite]
∙ 1240 5th Avenue: Raffle Winner Chooses Reality Over The Dream [SocketSite]

Posted by socketadmin at 9:00 AM | Permalink | Comments (1) | (email story)

September 9, 2009

The "Plugged-In(side) Scoop" And Candid Peek Inside: 2550 Webster

The listing photos for 2550 Webster do a nice job of highlighting some of its original detail, but a plugged-in tipster provides a more candid peek inside:

Now that I've returned from seeing this property, I am amazed and aghast at the same time. I'm not in the construction business so I can say without hesitation I've never seen anything like it before…

The first inkling that there might be trouble inside was the fact that a San Francisco Police Officer was in attendance near the front door, just to ensure there was no possibility of a problem. Then I heard whispers that "she" was inside. Of course this was referring to Arden Van Upp herself. I can only suspect that she was getting a chuckle over the fact that she was chaperoning the brokers' tour. For those that attended the tour and didn't notice her, she was the woman in all black and the black headscarf, perfectly made up on the 2nd floor. Very Grey Gardens. She was a bit conspicuously overdressed, almost like she was headed to a funeral.

As you enter the home on the first floor, there is a room on the left (parlor) that is crammed with personal effects. You practically cannot get in the room. I was under the impression that [Ms. Van Upp] had vacated completely but perhaps that is not the case. As expected, floors, walls and ceilings all need repair. Thankfully, most of the hand carved wood and adornments are intact. Some other areas are stuffed with items as well. The detailing in this home is unprecedented.

The second floor is the most beautiful…it has two enormous fireplaces, gorgeous woodworking and hand painted oil portraits on the walls.

Truth to the rumors? I was unable to see the garage and the alleged vintage Camaro in it. I did not see where a swimming pool could have been and the back yard was much smaller than I anticipated. The kitchen is pretty uninhabitable...

...and yes, half the ceiling is missing.

All the bathrooms that I saw are in rough, rough shape but are all carrera marble.

I was unable to get down to the basement because there was no light and I didn't want to risk breaking an ankle. As far as secret passageways go, there is one on the 3rd floor -- the bookcase opens up into a bathroom.

As for the solarium, yes, the back half is missing.

Most of the 4th floor ceilings have caved. There is a lot of mold throughout the house, but overall it just smells musty, not like pets or animal urine. I'm sure a lot of the odors have been captured in the carpets and fabric wallpaper. As I expected, there are amenities such as a safe, dumbwaiter and elevator (the dumbwaiter does not work and I was not going to try the elevator).

Good judgment (and excellent tip). As others have noted, this is not a project for the faint of heart wallet.

∙ Landmark Bourn Mansion (2550 Webster) Listed And Your Peek Inside [SocketSite]
∙ The Trap Door, Secret Passageways, And Dungeon Of 2550 Webster [SocketSite]

Posted by socketadmin at 11:30 AM | Permalink | Comments (52) | (email story)

Tis’ The Season (September) To Return: 2011 Golden Gate Ave Edition

As we wrote about 2011 Golden Gate Avenue in May:

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.

In and out of contract, reduced and then withdrawn from the market last month, as a plugged-in reader notes: back on the market with an “official” two days on the market (and one less official MLS bath) asking $1,799,000.

∙ Listing: 2011 Golden Gate Avenue (5/4.5) - $1,799,000 [MLS]
∙ Not To Be Flip, But If It Wasn’t A "Flip" It Looks Like One Now [SocketSite]

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

September 4, 2009

Apples To Apples (Aside From Any Other Analytics) In Bernal Heights

Let’s put aside any macro dollar per square foot analytics which would suggest home values in Bernal are down despite the alpha effects of the neighborhood’s gentrification and focus on a rather micro apple in the making: 82 Ellsworth.

Two blocks above the heart of Cortland, two bedrooms and two baths, and some views. Purchased in April of 2005 for $975,000, back on the market today and asking $899,000.

Keep in mind that under "normal" market appreciation of 4 percent a year, and not accounting for any gentrification or remodeling juicing, an asset purchased in 2005 for $975,000 should be worth around $1,158,000 today.

∙ Listing: 82 Ellsworth (2/2) - $899,000 [82Ellsworth.com] [MLS]
∙ Expectation Setting: San Francisco Appreciation [SocketSite]

Posted by socketadmin at 9:30 AM | Permalink | Comments (39) | (email story)

September 1, 2009

North To South (And Apples To Apples) From Atop 2041 Sacramento

An overlook of Lafayette Park to the north from the living room is a rather nice feature. The south facing private roof deck overlooking Cathedral Hill is as well.

Purchased for $2,286,500 in June of 2007, the top floor condo with two car parking at 2041 Sacramento is listed for $2,095,000 today. A sale at asking would represent an 8.4% drop in value over the past two years for this remodeled Pacific Heights condo home.

∙ Listing: 2041 Sacramento #Top (3/3) - $2,095,000 [MLS]

Posted by socketadmin at 11:00 AM | Permalink | Comments (17) | (email story)

August 31, 2009

The Trap Door, Secret Passageways, And Dungeon Of 2550 Webster

The lines that couldn't help but catch our attention from the sworn affidavit of Samuel Howard Sloan with respect to the Bourn Mansion at 2550 Webster:

I am well aware of everything in the house, including the trap door, the secret passageways, the dumb waiter, the elevator, the crawl space and the dungeon, all of which pose significant dangers to anybody who enters. There are significant dangers of serious injury or even death to anybody who enters this building.

The disclosures ought to be interesting. All comments on our earlier peek inside post.

∙ Landmark Bourn Mansion (2550 Webster) Listed And Your Peek Inside [SocketSite]
∙ Affidavit of Samuel Howard Sloan [groups.google.com]

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

New York In Nob Hill Returns After Three Years: 1022 Powell Street #3

As we wrote about 1022 Powell Street (behind the vines) in April of 2006:

As you know, it’s not often that we agree with listing hyperbole. And although we’ve only seen pictures (so far), we just might have to agree with the "One of a Kind Loft in Nob Hill!" claim for 1022 Powell St. #3.

Then again, we’re suckers for vines, brick, open floor plans, high ceilings, natural light, fireplaces, parking, and decks with a view...

Sold for asking ($1,625,000) shortly thereafter, it's back on the market and listed for $1,395,000 today, a sale at which would represent a 15% drop below its June 2006 value.

∙ Listing: 1022 Powell Street #3 (2/2) - $1,395,000 [MLS]
∙ New York In Nob Hill [SocketSite]

Posted by socketadmin at 2:30 PM | Permalink | Comments (19) | (email story)

August 30, 2009

Landmark Bourn Mansion (2550 Webster) Listed And Your Peek Inside

As a plugged-in reader reported a week ago, "[The Bourn Mansion] is finally being emptied and mountains of trash removed." And with bankruptcy heading off its courthouse sale, the landmark 2550 Webster has hit the MLS with an asking price of $2,900,000.

The bad news, the past three decades have not been overly kind to the Willis Polk designed mansion. The good news, "Transfer of Possession: Close of Escrow" rather than subject to tenants rights and some gorgeous detailing still remains.

∙ Listing: 2550 Webster (14/4.5) 9,762 sqft - $2,900,000 [MLS]
∙ Bourn To Run Party: A San Francisco Mansion Of Ex-Glory And Dreams [SocketSite]
∙ The Bourn Foreclosure (2550 Webster) [SocketSite]
∙ The Eccentric Arden Van Upp Might Be Feeling A Bit Antsy These Days [SocketSite]

Posted by socketadmin at 5:15 PM | Permalink | Comments (88) | (email story)

August 27, 2009

An Homage To Kerouac And Snyder (The Matterhorn Not The House)

As we head to the Sierras to scramble up the Matterhorn in an homage to Kerouac and Snyder, the façade of 2214 14th Avenue seemed a rather fitting way to end the week.

Now if only its recent renovations were as so. And if ever there were a time for haiku...

∙ Listing: 2214 14th Avenue (2/1) - $769,000 [MLS]

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

The Full Floor Plan Monty For 2006 Washington Number Four

As a plugged-in reader notes, the floor plan for the full floor 2006 Washington #4 are now up on Malin’s site along with a couple of view and exterior photos as well.

As other’s have suggested, however, it’s not a good sign with respect to whether or not interior shots will show up anytime soon (if ever at this price point in this building).

∙ Listing: 2006 Washington #4 (5/5.5) - $8,500,000 [sfproperties.com]
∙ 2006 Washington Number 4 Returns Asking 32 (Plus) Percent Less [SocketSite]

Posted by socketadmin at 10:00 AM | Permalink | Comments (46) | (email story)

August 26, 2009

2006 Washington Number 4 Returns Asking 32 (Plus) Percent Less

While still noting "coming soon" on Malin’s San Francisco Properties site, 2006 Washington #4 has hit the MLS asking $8,500,000. As a plugged-in tipster adds, asking $12,500,000 with McGuire in March (and apparently $15,000,000 prior to that).

It’s a full floor in the classic, and überexclusive, Conrad Alfred Meussdorffer designed Pacific Heights cooperative building.

[2006 Washington] was designed to take advantage of 100 feet of open space to the west by facing towards the Golden Gate and so looks down on the George Applegarth-designed Spreckels Mansion.

Each of the main floors is about 5500 square feet…Originally ten apartments, the 2200 square foot penthouse has been separated from the tenth floor to create an eleventh apartment.

Number four includes four bedrooms (plus one for the maid), five full bathrooms (plus two half’s), and two terraces/parking spaces. We’ll let you know when/if interior photos arrive.

UPDATE (8/27): Still no interior shots, but we now have the full floor plan.

∙ Listing: 2006 Washington #4 (5/5.5) - $8,500,000 [sfproperties.com]
∙ Conrad Alfred Meussdorffer [sfhistoryencyclopedia.com]
∙ The Full Floor Plan Monty For 2006 Washington Number Four [SocketSite]

Posted by socketadmin at 2:45 PM | Permalink | Comments (20) | (email story)

Fronds To Fronds For A Few One-Bedrooms At The Palms (555 4th)

Purchased for $562,000 ($853 per square foot) in January 2007, the Palms (555 4th Street) #540 is now bank owned and back on the market asking $376,646 ($570 per square foot).

At the same time, the non-bank owned 454 square foot one bedroom #447 which was purchased in August 2006 for $395,000 ($870 per square foot) remains on the market after 132 days, currently asking $375,000 ($825 per square foot).

Six other one-bedrooms in the Palms are currently listed for sale with asking prices ranging from $430,000 for the 691 square foot #733 which is currently in contract as a short sale (purchased for $645,000 in August 2006, listed for $589,000 in February 2009) to $579,000 for the 682 square foot #714 (which has been listed for 74 days).

UPDATE: Although all the details were correct, we originally misidentified unit #447 as #337 (since corrected). That being said, according to a plugged-in reader the unit is actually a studio despite its 132 day old MLS listing as a one bedroom.

∙ Listing: 555 4th Street #447 (1/1) 454 sqft - $375,000 [MLS]
∙ Listing: 555 4th Street #540 (1/1) 660 sqft - $376,646 [MLS]
∙ Listing: 555 4th Street #714 (1/1) 682 sqft - $579,000 [MLS]
∙ Pushing Forward With Price Discovery At The Palms (555 4th Street) [SocketSite]

Posted by socketadmin at 9:15 AM | Permalink | Comments (41) | (email story)

August 24, 2009

Five Years Of Appreciation Under Its Un-Renovated Year 2005 Price

Purchased for $1,295,000 in July of 2005, remodeled in 2007, and then bought back by the bank in July of 2009, 160 Westgate Drive is on the market and asking $1,025,000. From the listing:

Amazing opportunity! Bank owned, priced below neighborhood comps….Up-dated kitchen (no appliances)…Remodeled marble and tile baths.

A sale at asking would represent a 21 percent drop in value below its un-renovated year 2005 price. At 4 percent annual appreciation it’s a little less than five years to grow 21 percent.

From another perspective, if the buyers in 2005 were sold on long-term appreciation of 4 percent per year, their expectations would have been for a $1,522,000 value today (33 percent above asking). That's not accounting for the cost or value of remodeling of course.

∙ Listing: 160 Westgate Drive (3/2.5) - $1,025,000 [MLS]
∙ Expectation Setting: San Francisco Appreciation [SocketSite]

Posted by socketadmin at 2:00 PM | Permalink | Comments (24) | (email story)

From Three To One And Six-ish To Five-ish (So Far): 75 Folsom #1204

Originally three individual units, the National Landmark Hills Plaza (75 Folsom) #1204 is now one 3,300+ square foot condo with three parking spaces, and three terraces. That's 1.5 parking spaces (and terraces) per bedroom with HOA dues of $3,376 per month.

Purchased for $4,125,000 in September 2000, #1204 returned to the market this past February asking $6,200,000, but since reduced to $4,900,000. It’s also now available for rent fully furnished asking $12,000-$15,000 per month depending upon term.

∙ Listing: 75 Folsom Street #1204 (2/4) 3,384 sqft - $4,900,000 [ubayp.com]
∙ Hills Plaza #1204 - Furnished 2 Bedroom Condo for Rent [ubayp.com]

Posted by socketadmin at 10:00 AM | Permalink | Comments (12) | (email story)

Reductions Reach Below Market Rate Units On Ora Way (And Others)

Eight below market rate (BMR) condos on Ora Way are on the market up in Diamond Heights. Applicants can have household incomes of up to 120% of the Area Median Income and applications are "due on a rolling basis" with a two-bedroom for $350,000.

The rather unusual Mayor’s Office note on four of the Ora Way units that caught our eye: "REDUCED PRICE."

In addition to the eight (8) resales up in Diamond Heights, sixteen (16) other BMR resales are accepting applications on a rolling basis, upwards of twenty (20) new development units are either currently either accepting applications on a rolling basis or for a lottery, and thirty-two (32) new BMR’s are "upcoming."

∙ Listing: 85 Ora Way #E302 (2/1) 913 sqft - $350,000 (BMR) [85oraway.com]
∙ Mayor’s Office Of Housing: Current Below Market Rate Listings [SFGov]

Posted by socketadmin at 8:30 AM | Permalink | Comments (13) | (email story)

August 21, 2009

Certain To Draw Out A Slater Or Two (449-451 Eureka)

If you’ve ever walked by and wondered what’s inside 449-451 Eureka, now you get to see.

And about that "Swim Suit Optional" open house scheduled for this weekend…

∙ Listing: 449-451 Eureka (4/2.5 + 2/2) - $2,000,000 [MLS]

Posted by socketadmin at 12:30 PM | Permalink | Comments (32) | (email story)

A Mission Apple Condo Times Two: 662 Capp Street #3

Built in 2000 and sold for $535,000 in March of that year, 662 Capp Street #3 resold for $780,000 in November 2004 for average annual appreciation of 8.4% over those 4 years.

As a tipster notes, it’s apples to apples to apples in the making and now asking $749,000.

∙ Listing: 662 Capp Street #3 (3/2) 1,631 sqft - $749,000 [Zephyr] [MLS]

Posted by socketadmin at 9:30 AM | Permalink | Comments (98) | (email story)

August 20, 2009

A Bank Owned 10 South Park #1 (Insert Underpants Quotes Here)

Speaking of foreclosures in non-subprime territory, 10 South Park #1 was purchased for $760,100 in November of 2004. Bought back by the bank in July of 2009, it’s now on the market and asking $595,000.

In South Park vernacular, phase one...

∙ Listing: 10 South Park #1 (1/2) 1,196 sqft - $595,000 [MLS]
∙ New Subprime Foreclosures Ease But Prime Foreclosures Exacerbate [SocketSite]
∙ South Park - Gnomes 3 phases [YouTube]

Posted by socketadmin at 8:15 AM | Permalink | Comments (50) | (email story)

August 19, 2009

24 Karat Gold Coast (2950 Broadway) Brochure, Plans, And History

As a plugged-in tipster notes, the website for the 24 Karat Gold Coast 2950 Broadway has been updated with more photography, a ten page marketing brochure (including floor plans), and an "architectural and historical perspective."

Designed in 1922 by the distinguished and prolific San Francisco architect, Frederick H. Meyer for Stetson G. Hindes – a prominent engineer whose firm constructed the drydock at Pearl Harbor, built the shipyard at Alameda, and filled the cove for the Pan-Pacific International Exposition in San Francisco – and at one time occupied by famed attorney Melvin Belli, the home stands today as a masterpiece that has withstood the test of time.

No mention of that Melvin Belli incident.

∙ Listing: 2950 Broadway (6/6) - $39,500,000 [2950broadway.com] [Brochure] [History]
∙ 24 Karat Gold Coast Coming Soon (2950 Broadway) [SocketSite]
∙ When Friia Ruled San Francisco Real Estate (A Reader’s Recollection) [SocketSite]

Posted by socketadmin at 12:00 PM | Permalink | Comments (29) | (email story)

The Listing For 1440 Kearny Sheds $100,000 Per Day! (Sort Of)

Perhaps it was simply a typo (or a successful attempt to catch our attention), but after 7 days on the MLS at $2,995,000 the list price for 1440 Kearny has been cut by $700,000 and is now back to where its previous listing left off ($2,295,000). Exuberance scratched.

∙ A New New New Listing (And Price Cut Bump) For 1440 Kearny [SocketSite]
∙ Sometimes It's Simply The View(s), And Sometimes It's Not [SocketSite]

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

August 18, 2009

Perhaps Just For Posterity’s Sake (504 Russia Avenue)

Perhaps it's just for posterity’s sake and to record what was at 504 Russia Ave before (i.e., today): one-bedroom and one-bath over a garage on a 25’x100’ lot zoned RH-2.

Could it be another 815 Alvarado (albeit a bit more challenging considering its current footprint and neighborhood) in its infancy?

∙ Listing: 504 Russia Avenue (1/1) - $349,000 [MLS] [Map]
∙ An Arts & Crafts 815 Alvarado By The Numbers In Noe [SocketSite]

Posted by socketadmin at 12:15 PM | Permalink | Comments (34) | (email story)

August 17, 2009

An Arts & Crafts 815 Alvarado By The Numbers In Noe

One legal apartment; two (point nine six five) million dollars; three stories, balconies, and parking spaces; three point five bathrooms; four bedrooms; and fifty-one listing photos.

UPDATE (8/18): A reader asks and a reader responds, 815 Alvarado in 1997 when listed as a 688 square foot one-bedroom with one car parking and sold for $325,000:

∙ Listing: 815 Alvarado (4/3.5) - $2,965,000 [MLS]

Posted by socketadmin at 4:30 PM | Permalink | Comments (43) | (email story)

A Four Year Hold For A Renovated 819 Haight: A Winner's Return

A renovated Victorian at 819 Haight Street hit the market in 2005 asking $1,395,000, it sold for $1,635,000 ($240,000 over asking). No word on what role the buyer’s agent played in advising their client on how to "win" in a competitive situation ("pay more!").

As a plugged-in tipster notes, back on the market today and asking $1,595,000. One and one-half rather nice baths then, one and one-half rather nice baths now.

∙ Listing: 819 Haight Street (3/1.5) - $1,595,000 [MLS]

Posted by socketadmin at 10:30 AM | Permalink | Comments (49) | (email story)

Facing Foreclosure 3271 Baker Street Makes A Move In The Marina

As we wrote two weeks ago:

Listed for $3,395,000 a year ago but last asking $2,125,000, it’s a plugged-in tipster that notices 3271 Baker Street is now advertising "rent to own" for $8,995 a month. The advertised rent to own purchase price: $2,300,000.

As plugged-in reader added at the time, "Renting 3271 Baker Street is VERY risky...there was a Notice of Default filed on the property for $472,867 on May 21, 2009."

And additional details that have since rolled in: Notice of Trustee set for September 4th and back on the MLS for $1,969,000 ($331,000 under its advertised "rent to own" price and $657 per square foot for the extensively remodeled Marina single-family home).

∙ Listing: 3271 Baker Street (4/2.5) - $1,969,000 [MLS]
∙ Paying A Premium To Rent To Own: 3271 Baker Is Back [SocketSite]
∙ Spanish/Mediterranean Flair From Traditional To Modern: 3271 Baker [SocketSite]
∙ The Mysterious Case Of The Baker Street Trio: 3271, 3212 and 3520 [SocketSite]

Posted by socketadmin at 7:30 AM | Permalink | Comments (79) | (email story)

August 13, 2009

Fougeron's "Tehama Grasshopper" (431 Tehama #2) Hits The Market

On San Francisco’s AIA Home Tour in 2007.

On the cover and inside Metropolitan Home in 2008.

And now on the market and asking $4,128,000 in 2009, it's the Fougeron Architecture designed "Tehama Grasshopper" otherwise know as 431 Tehama #2.

∙ Listing: 431 Tehama #2 (3/3) - $4,128,000 [MLS]
∙ San Francisco Living: Home Tours (A Chance To Comment In General) [SocketSite]
∙ Urban Eco-tecture [pointclickhome.com]

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

A New New New Listing (And Price Cut Bump) For 1440 Kearny

Asking $2,850,000 in October of 2008, the list price for 1440 Kearny was reduced three times over the course of the past ten months and was last asking $2,295,000 (and noting "VERY MOTIVATED!") with a new new listing in June which was then withdrawn.

But as a plugged-in tipster notes, 1440 Kearny is back on the market with a new new new listing and asking $2,995,000. Has upper-end exuberance on the sales side returned?

Again, purchased for $1,995,000 in April 2004 (and we’re still digging the style and views).

∙ Listing: 1440 Kearny (3/2.5) - $2,995,000 [MLS]
∙ Sometimes It's Simply The View(s), And Sometimes It's Not [SocketSite]

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

A Banked Owned White Picket Fence And Dream (126 Chester Ave)

Purchased for $750,000 in December 2004 with what appears to have been $25,000 down, 126 Chester Avenue was bought back by the bank in November of 2008, white picket fence and all. Back on the market and asking $447,000 in 2009.

With a sale for $360,000 in March of 1999, a sale at asking would represent average annual appreciation (CAGR) of 2.1% over the past ten years, but a 40% drop in value over the past five.

∙ Listing: 126 Chester (4/2) - $447,000 [MLS]

Posted by socketadmin at 11:00 AM | Permalink | Comments (19) | (email story)

August 12, 2009

393 Carl: One Of Four New Construction Condos After And Before

One of four new construction condos completed in March and asking $1,395,000 at the time, the listing for 393 Carl was withdrawn from the MLS in May. Back on the market in August with a new broker and now asking $1,295,000.

And before said construction by way of MapJack.com:

∙ Listing: 393 Carl (2/2) - $1,295,000 [MLS] [March Photos]

Posted by socketadmin at 11:00 AM | Permalink | Comments (29) | (email story)

August 11, 2009

From Full Financial Monty To Dropping The Drawers For 135 Fernwood

The listing for 135 Fernwood has fallen out of contract and its list price has been reduced $600,000 (20%). Now asking $2,395,000 which is $605,000 (20%) under its purchase price in December of 2005 ($3,000,000) after which it was completely renovated and restored in 2007 (and after which they were asking $4,285,000).

From the listing prior to its latest reduction: "Home is priced at below $500 per sq ft & represents INCREDIBLE VALUE." Now priced at just under $400.

UPDATE: From a plugged-in reader with respect to 135 Fernwood:

NOD confirmed on SF Recorder's website. RealtyTrac appears to be showing an auction date of Sept. 23 with $2.4 million (Yahoo shows it as $2.845 million) set as the price (but I don't see a NOTS on the Recorder's website). And to think, I was worried about the neighbors defaulting...

∙ Listing: 135 Fernwood Drive (7/4.5) - $2,395,000 [MLS]
∙ The Full Plan Financial Monty For 135 Fernwood Drive [SocketSite]
∙ The Full Plan Monty (135 Fernwood Drive) [SocketSite]

Posted by socketadmin at 1:00 AM | Permalink | Comments (35) | (email story)

August 10, 2009

Behind The Wooden Fence (And NanaWall) At 870 Kansas

Transformed from a little cottage to a two-story Potrero home in 2007, the great NanaWall and garden of 870 Kansas lurk behind its Kansas Street fence.

Indoor/outdoor living on a warm summer day? Yep, it’s bound to get a mention. Now if only it were the kitchen and dining room that opened to the great outdoors (and grill).

∙ Listing: 870 Kansas (4/2) - $1,350,000 [870kansas.com] [MLS]

Posted by socketadmin at 12:00 PM | Permalink | Comments (33) | (email story)

August 7, 2009

Apples To Apples (And Seeking A Short Sale) For 4114 20th Street

Purchased for $1,513,000 in October of 2007, 4114 20th Street returned to the market in Eureka Valley this past January asking $1,695,000 but was withdrawn in February after reducing its price to $1,598,000.

Back on the market today and asking an enticing $1,150,000 as a short sale. There’s a hearsay story behind the sale that we’re not going to tell, but let’s just say a tipster told us to be on the lookout for the house as a foreclosure almost four months ago.

And perhaps we shouldn't be surprised that the listing doesn't mention it's agent owned.

UPDATE: A plugged-in reader notes:

The MLS listing does include the following in the agent [i.e., non-public] remarks: "Lender has already approved short sale price but is requesting COE on or before 8/27/09. Seller is a licensed CA real estate agent."

∙ Listing: 4114 20th Street (4/3) - $1,150,000 [MLS]

Posted by socketadmin at 1:30 PM | Permalink | Comments (68) | (email story)

2125-2135 Leavenworth: From One To Two And Six (New Condos)

As the parcel and building once looked in blue above, as the two new buildings with six new condos at 2125-2135 Leavenworth now look below.

2133 Leavenworth looks to be lived in; 2131 appears to have sold; 2135 is in contract (asking $2,595,000); and 2125, 2127, and 2129 are asking $849,000 to $2,595,000.

∙ Listing: 2125 Leavenworth (1/1.5) 930 sqft - $849,000 [MLS]
∙ Listing: 2127 Leavenworth (2/2.5) 1,401 sqft - $1,449,000 [MLS]
∙ Listing: 2129 Leavenworth (3/2.5) 2,298 sqft - $2,595,000 [MLS]

Posted by socketadmin at 12:45 PM | Permalink | Comments (17) | (email story)

August 6, 2009

What’s Below A BMR? (To Be Said At Least Two Times Fast)

A Yerba Buena Lofts (855 Folsom) two-bedroom listed for $399,000. A one-bedroom at the Metropolitan (355 1st) listed for $297,588. Considering both are Below Market Rate (BMR) resales the prices shouldn’t come as any big surprise, the fact that both have been on the market for over four months without a sale might.

∙ Listing: 855 Folsom #342 (2/1) - $399,000 (BMR) [MLS]
∙ Listing: 355 1st Street #310 (1/1) - $297,588 (BMR) [MLS]

Posted by socketadmin at 6:30 AM | Permalink | Comments (8) | (email story)

August 5, 2009

A Full 1001 California Floor Which Would Have Made Vincent Friia Flip

It’s the first resale of the 3,640 square foot full-floor 1001 California #3 since its complete overhaul by architect Andrew Skurman and designer Suzanne Tucker in the late 90’s.

From its Architectural Digest "before and after" feature in 1999 with regard to its pre-overhauled state: "The apartment was trying to be French, but it wasn’t doing a very good job. The quality wasn’t there." Not unlike many a "luxury" property about town.

If you have to ask monthly HOA dues of $5,886 which doesn't include the $325 a month for leased (but at least valet) parking nearby. And Friia if you have to ask that as well.

With regard to 1001 California's long vacant ground floor, a plugged-in reader reports:

Plans are afoot to convert the empty ground floor restaurant space, which has had multiple failed attempts, most recently Beaucoup in 2002, into two multi-level condos. Design by noted Pac Heights architect Butler-Armsden.

∙ Listing: 1001 California #3 (2/2.5) - $7,250,000 [1001california.com] [MLS]
∙ When Friia Ruled San Francisco Real Estate (A Reader’s Recollection) [SocketSite]
∙ Obviously Only Because It's On The Wrong Side Of Those Tracks [SocketSite]
∙ One Expensive One-Bedroom In A Beaux Arts Building We Love [SocketSite]

Posted by socketadmin at 5:00 PM | Permalink | Comments (27) | (email story)

August 4, 2009

Single Family "Fixer" Asking Three Fives In The Mission (981 Shotwell)

Purchased in the Inner Mission for $541,000 in April of 2003, a bank owned and previous owner's work in progress 981 Shotwell is back on the market and asking $555,000.

New kitchen, electrical service and "other mechanical upgrades" but it’s not yet construction complete (pay special inspection to those braces during any inspection).

∙ Listing: 981 Shotwell (3/3) - $555,000 [MLS]

Posted by socketadmin at 11:15 AM | Permalink | Comments (29) | (email story)

Ritz-Carlton Sales Office Pulls An Infinity In An Attempt To Sell Out

Asking $2,090,000 for the 1,545 square foot two-bedroom in January of 2008 ($1,352 per square foot), the Ritz-Carlton Residences sales office is now offering 690 Market #1701 for $1,399,000, that’s $906 per square foot and 33% off.

In related resale news, the listing for the 2,090 square foot three-bedroom #1404 is now advertising "Over $500K price reduction! Make an offer!" on an asking price of $2,590,000 ($1,239 per square foot).

∙ Listing: 690 Market #1404 (3/3) 2,090 sqft - $2,590,000 [MLS]
∙ Listing: 690 Market #1701 (2/2) 1,545 sqft - $1,399,000 [MLS]
∙ Reductions And Returns At The Ritz-Carlton Residences (690 Market) [SocketSite]

Posted by socketadmin at 9:15 AM | Permalink | Comments (23) | (email story)

August 3, 2009

Unlucky Lucky Number Thirteen For 830 El Camino Del Mar?

Once again, as a plugged-in reader wrote a little over a year ago:

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.

As we wrote in February:

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.

Reduced to $11,500,000 in April but then withdrawn at the beginning of July, it’s another plugged-in reader that notes 830 El Camino Del Mar has been relisted for $11,900,000.

And yes, a new agent and brokerage are leading this thirteenth charge.

∙ Listing: 830 El Camino Del Mar (2/2.5) - $11,900,000 [MLS]
∙ Behind The Great Wrought Iron Wooden Gate At 830 El Camino Del Mar [SocketSite]
∙ Will The Twelfth Time Be The Charm? 830 El Camino Del Mar Returns [SocketSite]
∙ 830 El Camino Del Mar Moves Away From 2008 And Closer To 2002 [SocketSite]
∙ Steel Magnate Kidnap Foilded [SFGate]

Posted by socketadmin at 11:00 AM | Permalink | Comments (28) | (email story)

July 31, 2009

Apples To Apples And Year Over Year In Pacific Heights (2221 Baker)

It might not ring any bells without that photoshopped street. And it’s not currently listed on the MLS (or official inventory). But 2221 Baker Street has returned to the market 13 months after its purchase for $4,200,000 (was listed for $3,795,000 at the time).

Now asking $4,495,000 in 2009. Perhaps hoping the soup to nuts renovation of 2201 Baker next door will give it a boost. And once again, designed by Albert Sutton and Charles Peter Weeks in 1905.

∙ Listing: 2221 Baker Street (5/3.5) - $4,495,000 [domicileproperties.com]
∙ The Only Appropriate Headline: "What The Hell Were They Thinking?" [SocketSite]
∙ Say Hello To My Little Friend Frond (And An Orchid) At 2221 Baker [SocketSite]
∙ The 2201 Baker Street Site Scoop: Full Gallery And Floor Plans Live [SocketSite]

Posted by socketadmin at 9:00 AM | Permalink | Comments (33) | (email story)

July 30, 2009

Call It Sunroom, Fogroom, Whatever…We’d Never Leave That Floor

Our main concern with 470 Vallejo is that we’d never want to leave the "pent-level" floor. And as such we’d very likely end up spending every night on the couch.

A related renovation aside, both 2209 Scott Street #1 and #2 closed escrow last week.

∙ Listing: 470 Vallejo (4/4) – $3,995,000 [470vallejo.com] [MLS]
∙ With Memorial Day Barbeques On The Brain (2209 Scott Street) [SocketSite]

Posted by socketadmin at 12:45 PM | Permalink | Comments (60) | (email story)

Telling It Like It Is For 533 Laidley

From the listing for 533 Laidley:

This lot value sale of a 1906 Earthquake Cottage on lovely Laidley St. in Glen Park is ready for a new owner/developer…Home is not salvageable & is unsafe to enter or climb on (Do not attempt!). No plans drawn or approved for this property.

How somebody else might spin it, "asking over $1,000 a square foot in Glen Park!"

∙ Listing: 533 Laidley (1/1) - $499,000 [MLS]

Posted by socketadmin at 11:30 AM | Permalink | Comments (61) | (email story)

July 29, 2009

A Round Of...Cuts For The All New "Arden Estates" On 15th Avenue

Originally priced between $1,995,000 and $2,195,000, a plugged-in tipster notices the new $1,699,000 to $1,950,000 range for five of the seven new construction homes of "Arden Estates" on the edge of West Portal on 15th Avenue.

Two of the seven four bed, three and one-half bath detached homes are advertising prices TBD. In the opinion of said tipster who walked through, "Interesting houses, but a pretty high price point given what $1.7-2M gets you in Saint Francis Wood."

∙ Arden Estates [ardenestatesluxuryhomes.com]
∙ Listing: 2733 15th Avenue (4/3.5) 3,290 sqft - $1,699,000 [Barbagelata via Pacunion]
∙ Listing: 2763 15th Avenue (4/3.5) 3,300 sqft - $1,950,000 [Barbagelata via Pacunion]

Posted by socketadmin at 4:00 PM | Permalink | Comments (24) | (email story)

July 28, 2009

You Might Bump Your Head In The Morning But Did You See The Bath?

It’s a Bernal Heights renovation (i.e., no apple) with limited head room in the master bed but with an open master bath with dual walk-in showers and natural light that we adore.

∙ Listing: 224 Elsie (3/2) - $948,000 [MLS]

Posted by socketadmin at 1:30 PM | Permalink | Comments (47) | (email story)

July 27, 2009

Apples To Apples To Apples Over The Past Five Years (1578 Noe)

Purchased for $1,005,000 in May of 2004 on a namesake street, 1578 Noe returned to the market a little over two years later and sold for $1,300,000 in November of 2006. It’s back on the market today and listed for $1,075,000.

A sale at asking would represent average annual depreciation of roughly 6.8% per year (a 17.3% drop) from 2006 to 2009 versus average annual appreciation of 11.0% (a 29.4% gain) from 2004 to 2006 for this single-family (albeit both currently and historically only one and one-half bath) Noe Valley home.

∙ Listing: 1578 Noe (2/1.5) - $1,075,000 [MLS]

Posted by socketadmin at 9:30 AM | Permalink | Comments (54) | (email story)

July 24, 2009

A (195) Beacon Of Renovated "Hollywood Hills Style" Up In Glen Park

It’s a Ross Levy renovation of a "1960's Hollywood Hills style view home" up in Glen Park.

Did we mention the courtyard pool? If only we shared that Hollywood Hills styled weather.

And if it looks familiar, to plugged-in people it should (especially if your name's Dave). Asking $6,000 a month in rent in May, purchased for $1,650,000 in October of 2007.

∙ Listing: 195 Beacon Street (4/3) - $1,650,000 [195beacon.com] [MLS]
∙ Name That "Noe Valley" House (And Architect) [SocketSite]

Posted by socketadmin at 10:15 AM | Permalink | Comments (31) | (email story)

Obviously Only Because It's On The Wrong Side Of Those Tracks

As we wrote in June of 2008:

We’ve always loved the William Randolph Hearst built Beaux Arts building at 1001 California Street, both in terms of location and style. And as far as we know, the 3,500 square foot #9 was the last unit to change hands eighteen six months ago (12/12/07) with a reported contract price of $2,888,000.

And while unit #8 is only a one-bedroom, it is rather large (1500 square feet) and offers multiple terraces and "views for miles." Asking $2,495,000 which doesn’t include a parking space or the $2,237 monthly dues. Once again, if you have to ask...

Last September the list price for #8 was reduced to $1,750,000. And last night the list price was reduced to $1,195,000. Purchased for $1,460,000 in June of 2000, a sale at asking would represent an 18% drop in value below its year 2000 pricing and a 52% drop in expectations over the past year. Then again it is on the south side of California.

And non-sardonically, we wouldn't be shocked to see multiple offers at this point.

∙ Listing: 1001 California Street #8 (1/1.5) - $1,195,000 [MLS]
∙ One Expensive One-Bedroom In A Beaux Arts Building We Love [SocketSite]

Posted by socketadmin at 1:00 AM | Permalink | Comments (61) | (email story)

July 22, 2009

A Bit Of Before And After And Plugged-In Perspective For 12 Rico Way

A bit of before and after and a plugged-in owner’s perspective on 12 Rico Way:

When I first walked into this house, I felt that we could build an approachable floor plan that would honor the formality of a Marina home and deliver something quite different. The wide lot allows for a formal living room on the left and a den directly on the right. It just feels so much brighter and alive than the typical 25' wide lots all over the city.

The radiant heating is amazing, I highly suggest that on your next remodel you install the Cal Steam system. (If you have to budget, at least do the master bathroom--warm on the feet!) Makes such a difference on the chilly evening and foggy mornings. The square footage is 2520, the master suite alone is 500 square feet.

And of course: "Oh, my wife loves white : ) very fresh and elegant she says..."

Cheers. And having been inside the house, we’ll have to agree with the above.

∙ Deconstructed And Reconstructed At 12 Rico Way [SocketSite]

Posted by socketadmin at 8:30 AM | Permalink | Comments (52) | (email story)

July 21, 2009

1943 House Of Tomorrow (1599 Shrader) Back On The Market In 2009

On the market a little over a year ago asking $1,695,000, the John C. Campbell and Worley Wong designed 1599 Shrader Street (which Sunset magazine dubbed its "House of Tomorrow" in 1943) sold for a reported $1,600,000 in July of 2008.

Back on the market in 2009 and asking $1,495,000.

∙ Listing: 1599 Shrader (3/3) - $1,495,000 [MLS]

Posted by socketadmin at 10:30 AM | Permalink | Comments (47) | (email story)

The Market Takes A Bite Out Of The Lighthouse Lofts Signature Apple

It remains one of our favorite loft spaces in San Francisco. And after four months on the market it remains active and available, but the asking price for 1097 Howard #308 has been reduced by 13% to $1,995,000.

A sale at asking would represent an 18.6% drop in value since its sale in 2007.

∙ Listing: 1097 Howard #308 (3/2.5) 4,207 sqft - $1,995,000 [MLS]
∙ The Lighthouse Lofts Apple Of Our Eye Returns (1097 Howard #308) [SocketSite]
∙ The Lighthouse Lofts In General (1097 Howard), And #308 In Specific [SocketSite]

Posted by socketadmin at 8:45 AM | Permalink | Comments (23) | (email story)

July 20, 2009

Deconstructed And Reconstructed At 12 Rico Way

Purchased for $1,750,000 in June 2007 but then deconstructed and reconstructed as those designer types are wont to do with their homes, 12 Rico Way returns asking $2,495,000.

UPDATE (7/22): A bit of before and after.

∙ Listing: 12 Rico Way (4/3) - $2,495,000 [12ricoway.com] [MLS]
∙ A Bit Of Before And After And Plugged-In Perspective For 12 Rico Way [SocketSite]

Posted by socketadmin at 4:30 PM | Permalink | Comments (27) | (email story)

July 17, 2009

Please Don’t Burn The Built-In Bunk Beds Or Desk (2912 Sacramento)

With built-in bunk beds even we wouldn’t mind sleeping in, a couple of wood burning fireplaces and anything but a cookie cutter interior, we had to take a peek.

∙ Listing: 2912 Sacramento (4/3) - $1,600,000 [MLS]

Posted by socketadmin at 11:15 AM | Permalink | Comments (36) | (email story)

July 14, 2009

A Ringing Endorsement For A Liberty Belle (366 Liberty)

In the words of a plugged-in tipster with respect to 366 Liberty:

It's quite an amazing house, very understated (except the price). On a double lot so you have a very large living room and master bedroom off a huge deck that extends to the width of the house. Access to the house is through a very peaceful and private front yard. This is one case where the listing photos do not do justice to this house.

No, this tipster’s not the agent. And don't forget that view.

∙ Listing: 366 Liberty Street (3/2.5) - $2,850,000 [MLS]

Posted by socketadmin at 1:00 PM | Permalink | Comments (22) | (email story)

Ten Below Over Freezing. Except For That One At Twenty-Nine...

If you read Bloomberg yesterday you learned that the past three Decorator Showcase homes in San Francisco are on the market, and that this year’s showcase (2830 Pacific) "was listed at $12.9 million in April and the price was reduced in May."

“Things reached a fever pitch two years ago when people thought they could do no wrong in real estate,” said Malin Giddings, co-listing agent for this year’s seven-bedroom, six- bathroom home. “Now the game is over.”

You were also told that the "last time a house in San Francisco fetched at least $10 million was in June 2008, according to the city assessor-recorder office."

Of course plugged-in people know that 2830 Pacific was actually asking $15,500,000 before being listed in April (and then reduced in May), and that it’s more like six out of the past ten showcase homes that are struggling to find buyers.

Oh, and 2799 Broadway (A.K.A. 37 Raycliff Terrace) sold for $29 million in September 2008. But hey, who are we to quibble with Bloomberg.

∙ Mansion Glut in Pelosi’s San Francisco Neighborhood Slows Sales [Bloomberg]
∙ Another Ex-Decorator Showcase Is Officially Listed: 2500 Divisadero [SocketSite]
∙ 2009 Decorator Showcase (2830 Pacific) Opens Its Doors And Kimono [SocketSite]
∙ Showcasing A Designer Price Cut: 2830 Pacific Sheds Another 29% [SocketSite]
∙ The SocketSite Scoop On 37 Raycliff Terrace (A.K.A. 2799 Broadway) [SocketSite]

Posted by socketadmin at 11:30 AM | Permalink | Comments (4) | (email story)

St. Regis Penthouse Animation, Reality A Couple Months Out

A plugged-in tipster notes a newly public animation for the St. Regis Penthouse. According to a plugged-in source, however, the animation will soon be obsolete as construction should be finished in a couple of months and the renderings will give way to reality.

Still asking $49,000,000.

UPDATE (7/15): Well, what was briefly public is now once again private. Hopefully those who were interested caught a peek. And if you didn’t, let's just call it a reminder to plug in early and often.

Full Disclosure: The co-listing agent for the penthouse atop the San Francisco St. Regis advertises on SocketSite but had no prior knowledge of this post.

∙ St. Regis Penthouse Asking $70M: Is San Francisco All Growns Up? [SocketSite]
∙ St. Regis Penthouse Now $21,000,000 Off (And No, That’s Not A Typo) [SocketSite]
∙ Inside The St. Regis Penthouse: The Rendering Scoop And Details [SocketSite]

Posted by socketadmin at 9:00 AM | Permalink | Comments (10) | (email story)

July 13, 2009

Okay, So How About Half? (4252 22nd Street Goes "Pre-Foreclosure")

Purchased for $760,000 in May 2006, a rough and tumble (and tenant occupied) 4252 22nd Street returned to the market in September 2008 asking $1,495,000.

From the listing at the time:

Contractor special/investor sweat equity. Beautiful home in the heart of Noe Valley. Owners started work, needs your finish. City Permits and plans are completely approved as of mid November. Plans are available for review. Tenants will be out by March 15th or sooner.

The tenants are gone, as is a working kitchen, and the list price has been reduced a number of times. Now advertising "pre-foreclosure opportunity!" and asking $749,000 cash (no kitchen equals good luck tough times getting a mortgage).

UPDATE: From a plugged-in reader:

You can get loan on a house without a kitchen (I did it recently). The bank added a reserve to the loan if they needed to get in and add a kitchen (and a bath in my case) for resale if they were stuck with the property. I'm not paying on that reserve it's only used if needed, and added to the loan amount total vs. comps to confirm they are still good. We put a healthy chunk down but didn't pay all cash.

∙ Listing: 4252 22nd Street (5/4) - $749,000 (cash) [MLS]

Posted by socketadmin at 5:00 PM | Permalink | Comments (31) | (email story)

A Fall From Great Heights? (3444 Washington Reduced Again)

With a tax assessed value of $15,840,090 (suggesting a sale price of around $15,200,000 in 2006), 3444 Washington returned to the market a year ago asking $17,500,000. Six months ago the home was relisted at $15,750,000.

Two weeks ago the listing expired but was then reactivated. And this past Friday the asking price was cut to $12,000,000 (21% under its implied 2006 price/value).

∙ Listing: 3444 Washington Street (6/6.5) - $12,000,000 [MLS]
∙ It's Not Often A Listing Can Tout A Private Outdoor Amphitheater [SocketSite]
∙ An Apple In The "Heights" Of Our Tree: 3444 Washington Reduced [SocketSite]

Posted by socketadmin at 11:00 AM | Permalink | Comments (27) | (email story)

July 10, 2009

Morgan Beauty That’s More Than Skin (And Views) Deep: 1023 Vallejo

As evidenced by 20 of the 50 listing photos, 1023 Vallejo’s got views. And based on the other 30, its insides can compare.

Designed by Julia Morgan for a Mrs. Livermore in 1917, renovated by Hal Riney in 2005.

∙ Listing: 1023 Vallejo Street (4/5) - $4,900,000 [Virtual Tour] [MLS]

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

July 9, 2009

Insert Your Head Here (From The Terrace Of 1100 Union #300)

It’s an enviable view from the terrace of 1100 Union (La Mirada) #300. Bonus points for naming the sculptor (or identifying other originals in the mix).

∙ Listing: 1100 Union #300 (2/2.5) - $2,995,000 [sfproperties.com] [MLS]

Posted by socketadmin at 7:45 AM | Permalink | Comments (31) | (email story)

July 8, 2009

Hidden Behind A Two-Unit Building (And Possibly The Paint)

Simplemente, "La Casa Roja" (not to be confused with "La Casa Verde") es muy colorida.

∙ Listing: 766 South Van Ness Ave #766 (3/2) - $749,000 (TIC) [MLS]
∙ It's Not That Easy Being Green For "La Casa Verde" (3027-3029 25th) [SocketSite]

Posted by socketadmin at 10:45 AM | Permalink | Comments (20) | (email story)

Another One Rincon Hill "02" Returns One Floor Below (Step Beyond?)

On the heels of One Rincon Hill (425 1st Street) #2202 closing escrow with a recorded contract price of $1,150,000 this past March (purchased for a recorded $1,300,000 in June of 2008), #2102 has returned to the market asking $1,180,000 ($901 per square foot).

Originally offered by the sales office for $1,010,000 not including any upgrades on the first day of sales back in 2006, prices were subsequently raised on day two. And as a plugged-in reader beat us to it, tax records suggest a purchase price with upgrades of $1,128,346.

∙ Listing: 425 1st Street #2102 (2/2) - $1,180,000 [MLS]
∙ A Return To Reality For A One Rincon Hill "02" Stack Resale (#2202) [SocketSite]
∙ The First "Official" Resale At One Rincon Hill Closes Escrow: #2202 [SocketSite]
∙ First Impressions: One Rincon Hill Sales Center [SocketSite]

Posted by socketadmin at 8:00 AM | Permalink | Comments (26) | (email story)

July 6, 2009

A Remodeled Marquee Lofts #708 Returns…With A Kitchen!

As a plugged-in reader notes, a fully remodeled and renovated Marquee Lofts (151 Alice B. Toklas Place) #708 has returned to the market asking $739,000 following its kitchen-less foreclosure sale for $580,000 in June of 2008.

Once again, Marquee Lofts #708 first changed hands on 9/30/04 for $607,500; sold on 10/05/06 for $865,000; and was bought back by Merrill Lynch Mortgage Lending for $708,933 on 1/9/08. As it looked at that time:

∙ Listing: 151 Alice B. Toklas Place #708 (1/1) - $739,000 [MLS]
∙ Change Of Heart, Cash Crunch, Or A Condo Sitter Gone Crazy? [SocketSite]
∙ From Foreshadowing To Foreclosure For A Marquee Loft Off Van Ness [SocketSite]
∙ Another Non-Comp Comp Along The Booming Van Ness Corridor [SocketSite]

Posted by socketadmin at 11:15 AM | Permalink | Comments (23) | (email story)

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 (42) | (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 (16) | (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 (24) | (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 (17) | (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 (39) | (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 (22) | (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 (63) | (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 (28) | (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 (29) | (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 (66) | (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 (31) | (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 (49) | (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 (14) | (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 (80) | (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 (65) | (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 (15) | (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 (47) | (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 (4) | (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 (53) | (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 (21) | (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 (22) | (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 (26) | (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 (30) | (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 (18) | (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 (23) | (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 (34) | (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 (38) | (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 (11) | (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 (44) | (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 (19) | (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 (15) | (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 Forest 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 Forest Hill Extension for this lot not Forest Hill.

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

Posted by socketadmin at 9:45 AM | Permalink | Comments (28) | (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 (15) | (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 (9) | (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 (28) | (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 (58) | (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 (60) | (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 (21) | (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 (76) | (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 (14) | (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 (34) | (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 (45) | (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 (33) | (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 (33) | (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 (22) | (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 (55) | (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 (24) | (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 (34) | (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 (29) | (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 (33) | (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 (11) | (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 (51) | (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 (35) | (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 (45) | (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 (18) | (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 (14) | (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 (81) | (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 (57) | (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 (52) | (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 (15) | (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 (10) | (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 (10) | (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 (37) | (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 (22) | (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 (214) | (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 (21) | (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 (17) | (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) - $2,195,000 [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 (61) | (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 (70) | (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 (30) | (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 (14) | (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 (47) | (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 (20) | (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 (77) | (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 (23) | (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 (24) | (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 (70) | (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 (78) | (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 (22) | (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 (45) | (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 (75) | (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 (89) | (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 (36) | (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 (42) | (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 (36) | (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 (26) | (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 (34) | (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 (35) | (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 (19) | (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 (58) | (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 (18) | (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 (18) | (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 (40) | (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:

And we take it back, let’s not forget those invitations to the housewarming. We’ll be bringing (a lot of) bubble bath. And fins.

[Full Disclosure: The listing agent for the penthouse atop the San Francisco St. Regis advertises on SocketSite but played no part in this post. And yes, we would have featured it regardless.]

∙ Museum Tower Penthouse atop the St. Regis Hotel [gregglynn.com]
∙ St. Regis Penthouse Asking $70M: Is San Francisco All Growns Up? [SocketSite]

Posted by socketadmin at 11:00 AM | Permalink | Comments (65) | (email story)

November 11, 2008

Four Floors Lower, But Asking One Hundred And Fifty Thousand Less

While the resale of #2202 in One Rincon Hill (425 1st Street) closed escrow on 6/24/08 with a reported contract price of $1,300,000, #1802 has yet to find a buyer.

Originally listed at $1,399,000 prior to being withdrawn and then leased (asking $5,250/mo), #1802 returned to the market in August with a list price of $1,299,000. Over the past 80 days the price has been cut four times, most recently to $1,145,375.

In terms of direct competition there are three other 02 resales listed on the MLS. Yes, including the aforementioned #2202 (now asking $1,359,000). Once again, pricing for #1802 when the sales office first opened: $980,000 (not including any upgrades) versus $1,020,000 for #2202. Don't ask us.

∙ Listing: 425 1st Street #1802 (2/2) - $1,145,375 [MLS]
∙ Listing: 425 1st Street #2202 (2/2) - $1,359,000 [MLS]
∙ The First “Official” Resale At One Rincon Hill Closes Escrow: #2202 [SocketSite]

Posted by socketadmin at 10:15 AM | Permalink | Comments (32) | (email story)

If You Can't Be A Whole Tycoon, You Might As Well Live Like A Half

From silver tycoon Richard Chambers’ single-family mansion in 1887 to two restored and renovated “single-familyesque” condos in 2002, the eastern half of this registered City Landmark (2220 Sacramento) is no longer coming soon. It's officially here.

By the numbers: one elegant entrance; two car garage; three stories (plus finished lower level); four fireplaces; five bedrooms; six and one-half baths; and asking $4,250,000.

∙ Listing: 2220 Sacramento (5/6.5) - $4,250,000 [sfproperties.com] [MLS]

Posted by socketadmin at 7:30 AM | Permalink | Comments (20) | (email story)

November 7, 2008

From A Comment A Year Ago To The Market Today: 3299 Gough

It’s been a while since we’ve talked about 1307 Bay Street. From a plugged-in reader with respect to the building a year ago:

Which unit is the penthouse? I think I know the guy that bought that last, a developer, and gutted it to make it his own private pimp pad.

And from the MLS today:

Full floor Penthouse on the top of a 4 unit building…new doors and windows trimmed in African and Honduran mahogany wood...new Linn high fidelity, integrated sound system in every room and the terrace which provides TV/Video from any of 7 sources (radio, satellite radio, I-Tunes, Satellite TV, CD, DVD), and Cat 5 wiring.

Oh, and a “temperature controlled 'Wine Wall' holding 580 bottles displaying the wine labels to create a unique dining ambiance.” So yes, we're guessing that's the one.

And it is all pretty pimpy. In a damn good way.

∙ Listing: 3299 Gough (3/2.5) - $2,595,000 [MLS]
∙ Damn Those Direct Comps In The Marina (1307 Bay Street) [SocketSite]

Posted by socketadmin at 2:45 PM | Permalink | Comments (18) | (email story)

Liking The Island Vibe (As Well As The Urban View): 713 Rhode Island

If you've ever wondered what's behind that sweet little gate, here's your chance to see.

We're defintiely digging this "island" vibe and architecture. Don't forget those invitations to the housewarming if you do as well. Or better yet, invite us over for a soak.

∙ Listing: 713 Rhode Island (3/2) - $1,495,000 [MLS]

Posted by socketadmin at 2:00 PM | Permalink | Comments (23) | (email story)

November 6, 2008

Solid Or Squishy? (And Being “Cash Flow Positive” Isn’t Always So)

From the listing for 555 4th Street #715 in The Palms:

Solid investment property, already rented $2800/month…Property virtually rents and manages itself…No eviction control, no rent control…Low maintenance since the property is almost new…Hoa dues paid through december 2009.

We’ll let you confirm that’s a sustainable market rate rent, run your own numbers, and draw your own conclusions about how solid this investment might or might not be.

We will note, however, that focusing on being “cash flow positive” is rather naïve in terms of investing. In a down market the loss of principal can quickly offset any carry. And being “cash flow positive” doesn’t speak to a rate of return.

∙ Listing: 555 4th Street #715 (1/1) - $605,000 [MLS]
∙ The Palms (555 4th St.): Secondary Market Slowdown And Short Sale [SocketSite]

Posted by socketadmin at 7:55 AM | Permalink | Comments (27) | (email story)

November 5, 2008

1438 Jackson: If You Missed It When New (And Now That You Know)

Speaking of Dawson&Clinton developments, a plugged-in tipster notes that 1438 Jackson is back on the market and asking $1,629,000.

Once again, high-end finish and fixtures (Bulthaup, Miele, Subzero, Dornbracht, Lefroy Brooks, WET, Bonelli). And purchased for $1.5M at the beginning of the year.

∙ Listing: 1438 Jackson (3/2.5) 1,227 sqft - $1,629,000 [MLS]
∙ We’ll Give You The Jump Once Again: 3119 Harrison On The Market [SocketSite]
∙ From Rendering To Reality (And The MLS): 1446 Jackson Street [SocketSite]

Posted by socketadmin at 11:00 AM | Permalink | Comments (21) | (email story)

November 3, 2008

Is That A Listing With Big Views (And Price) In Your Pocket Or…

From a plugged-in tipster: "A one-bedroom for $2.895 MM! There are a lot of pocket listings/off-market listings out there right now." That there are.

Let's think about why and what it means (in terms of market, reports and industry overall). And let's not forget to send the good ones (story, design, or price) our way.

∙ Listing: 1200 California #25a (1/1.5) 1,425 sqft - $2,895,000 [1200california25a.com]

Posted by socketadmin at 4:40 PM | Permalink | Comments (46) | (email story)

Where The Wild Things Unfortunately Aren’t (179 Delmar)

Based on the exterior and owner (artist Amado Gonzalez) we had high hopes to see some wild things inside 179 Delmar. Unfortunately not. But at least some good bones.

∙ Listing: 179 Delmar (4/2) - $1,179,000 [179delmar.com] [MLS]

Posted by socketadmin at 11:30 AM | Permalink | Comments (71) | (email story)

3577 Pacific: Inside Its Newly Contemporary Soul (And Market's Mind)

Listed for three days at $7,700,000, the asking price for the completely renovated 3577 Pacific was quickly changed to $6,950,000. But the change that caught our eye, "Addl Pics."

Purchased pre-renovation for $2,225,000 in August of 2005. We'll let you do the math (and note the anything but apple additions).

∙ Listing: 3577 Pacific Avenue (6/4) - $6,950,000 [MLS]

Posted by socketadmin at 8:45 AM | Permalink | Comments (25) | (email story)

The One Rincon Hill Design(s) For The 60th Floor Of Tower One

It was a month ago readers were plugged in to the scoop that all four One Rincon Hill 60th floor penthouses were back on the market. And while individually they might have priced out at just under a collective $13,000,000, according to plugged-in tipster the full 5,900 square foot floor is now being offered by the sales office for $14,000,000 with one potential floor plan above (click to enlarge).

Shaking your head at the back to back second and third bedrooms? Think you could do better? Feel free to send your designs our way. Credit (or anonymity) guaranteed.

∙ The SocketSite Scoop: Four ORH Penthouses Back On The Market [SocketSite]

Posted by socketadmin at 7:50 AM | Permalink | Comments (32) | (email story)

October 31, 2008

We’ll Give You The Jump Once Again: 3119 Harrison On The Market

As we wrote ten months ago:

Okay, we’re giving you the big jump on this one (as in “[c]onstruction is due to start by Spring 2008…[and] both houses will go on the market as the project gets closer to completion”). From the developers behind 1438-1446 Jackson Street comes 3119 Harrison, two contemporary [3,000] square foot homes on a currently (relatively) empty lot…Rough plans (and a few more renderings) available online. Details in a year (assuming it gets built).

And as we write today with the scoop: They're now on the market (but not yet done). Each home will sport four bedrooms, three bathrooms, and three parking spaces with studio space underneath. Asking $2,700,000 each with occupancy expected in May (2009).

And if you were lucky enough to see 1440 Jackson (the kitchen from #2 pictured above), expect similar high-end modern finishes (Bulthaup, WET, Bonelli, etc.) throughout.

∙ Coming (Not So) Soon To An Empty Lot (3119 Harrison) Next Year [SocketSite]
∙ Coming Soon Three Quarters In Contract: 1440 Jackson Street [SocketSite]
∙ Dawson&Clinton General Contractors [dawson-clinton.com]

Posted by socketadmin at 3:00 PM | Permalink | Comments (38) | (email story)

It’s Not Officially An Apple Until It’s Sold, But We’ve Seen This Movie…

After four weeks on the market the asking price for 1968 Greenwich has been reduced for the second time, now asking $1,800,000. Once again, purchased in May of 2005 for $2,100,000. And bonus points for the best rationalization of how we “cherry picked” this renovated District 7 apple four weeks ago when it just as easily could have sold for more.

UPDATE: And on the topic of apples, the sale of 632 Ashbury Street closed escrow today with a reported contract price of $870,000. That's $5,000 over its purchase price in November of 2005.

∙ Listing: 1968 Greenwich (3/2.5) - $1,800,000 [MLS]
∙ A Renovated Cow Hollow Apple On The Tree: 1968 Greenwich Street [SocketSite]
∙ Two Cow Hollow Apples On Greenwich Get A Little Less Green [SocketSite]

Posted by socketadmin at 2:00 PM | Permalink | Comments (17) | (email story)

October 30, 2008

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

It’s a plugged-in agent who suggests $500,000 cuts seem to be all the rage at the upper end of the market. And 4552 19th Street recently embraced the new new thing.

Completely redesigned by architect Chris McMahon and rebuilt with a few traditional touches (think new bay windows), but modern baths and solar panels "for six" up top.

A couple of big city views and a sweet little backyard retreat. Reduced from $4,299,000 after three weeks on the market, but still seeking $935 per square.

∙ Listing: 4552 19th Street (6/4.5) - $3,749,000 [4552-19thst.com] [MLS]

Posted by socketadmin at 2:30 PM | Permalink | Comments (80) | (email story)

208 Glenview: No Real Story, Simply A Bit Of Seasonal Color Flair

No real story, simply a bit of seasonal color flair. Oh, and recently reduced $92,000. Boo.

∙ Listing: 208 Glenview Drive (4/4) - $1,198,000 [MLS]

Posted by socketadmin at 2:15 PM | Permalink | Comments (5) | (email story)

October 27, 2008

Sometimes It's Simply The View(s), And Sometimes It's Not

We’d say if it was simply because of the views. But quite honestly, it’s not. There's more.

Like a private elevator if you'd prefer not to take the stairs.

∙ Listing: 1440 Kearny (3/2.5) - $2,850,000 [MLS]

Posted by socketadmin at 10:20 AM | Permalink | Comments (23) | (email story)

Still Drawn To The Decks (Amongst Other Things) For A Third Time

We were first drawn to the decks a little over five months ago when it was priced at $2,535,000. It was two months ago that the asking price was adjusted down to $2,348,000. And as a reader noted this weekend, 4419 19th Street is “back on the market” and asking $1,995,000 (after a one day stint at $2,295,000).

And yes, an official three days on the market according to those industry/agent reports.

∙ Listing: 4419 19th Street (3/3.5) - $1,995,000 [moderncastrohome.com] [MLS]
∙ Drawn To The Decks (But Perhaps Not The Best For Entertaining) [SocketSite]
∙ A Couple Of Recent Reductions On Properties You Might Recognize [SocketSite]

Posted by socketadmin at 7:45 AM | Permalink | Comments (17) | (email story)

October 23, 2008

A Plugged-In Reader Reports (Rather Effusively): Go See 141 Ames

It's not yet listed, but its website just went live. And while we haven’t yet been inside 141 Ames (aka Betty May's School of Tap), a plugged-in reader reports (rather effusively):

I am a neighbor with an interest in design, and this is maybe the finest renovation I have ever seen in San Francisco. It is utterly orginal. An massive rectangular chimney covered with slivers of reclaimed fir thrusts up through a skylight in the center of the space, creating a striking visual impression and dividing the living from the sleeping area.

The bedroom opens onto a lightwell/patio with an irrigated "living wall" designed by Flora Grubb and a custom concrete soaking tub. The kitchen is functional and elegant. The floors are old hardwood, dinged and pock-marked by 40 years of dancing classes. The bathroom skylight doubles as a fixed, transparent table on the roof deck.

I doubt that the entire space is more than 800-900 square feet, but the space is used brilliantly. Asking price is [$695,00]. It sits on its own lot, so technically it's a single family home. (It used to be on the same lot as the 3-unit building that Flora owns adjacent to her old nursery on Guerrero between 22nd and 23rd, but apparently she got permission from the city to do a lot split.)

I know I sound like a promoter but I have no financial or personal interest in this at all. (I live two blocks away and I sometimes buy plants from Flora Grubb--that's the extent of my interest.)

Good eye all around (it's 840 square feet per the architect), and cheers. And for the record, it's a tipster we trust (but we're not about to start naming names).

∙ Listing: 141 Ames (0/1) - $695,000 [141ames.com]

Posted by socketadmin at 2:15 PM | Permalink | Comments (50) | (email story)

313 Duncan: Before, After, And All Its Insides Now “Online”

As plugged-in people already know, it was Owen Kennerly that led the sweet and complete transformation of 313 Duncan from that to this:

Not yet officially listed, but now priced ($2,850,000) and "open" (with floor plans) online.

And once again, we find ourselves enamored with the little guest house out back.

UPDATE: And now listed as well.

∙ Listing: 313 Duncan (5/5.5) - $2,850,000 [313duncan.com] [Floor Plans]
∙ Coming Soon: Victorians Gone Modern! (313 Duncan) [SocketSite]

Posted by socketadmin at 8:15 AM | Permalink | Comments (27) | (email story)

October 22, 2008

From Coming Soon To On The Market And A Peek Inside: 1391 Clayton

You knew it was coming. You knew the numbers. And you even knew what was there before. Now you get to peek inside.

UPDATE: And Miu-Miu offers a having actually seen it critique.

∙ Listing: 1391 Clayton (4/4.5) - $2,795,000 [MLS]
∙ Then And Now And Coming Soon: 1391 Clayton Street By The Numbers [SocketSite]

Posted by socketadmin at 2:30 PM | Permalink | Comments (13) | (email story)

Two Cow Hollow Apples On Greenwich Get A Little Less Green

After three weeks on the market in the heart of Cow Hollow, it’s a new price (now asking $1,975,000) and a few new photos for the listing of 1968 Greenwich. But it’s still the same story: purchased in May of 2005 for $2,100,000.

And yes, the infamous 2243 Greenwich a few blocks to the west remains on the market as well. Currently asking $1,545,000. Purchased at the end of 2005 for $1,800,000.

∙ A Renovated Cow Hollow Apple On The Tree: 1968 Greenwich Street [SocketSite]
∙ Listing: 1968 Greenwich (3/2.5) - $1,975,000 [MLS]
∙ A Little Extra Perspective On The Listing Market? (2243 Greenwich) [SocketSite]
∙ Listing: 2243 Greenwich (3/2.5) - $1,545,000 [MLS]

Posted by socketadmin at 1:50 PM | Permalink | Comments (10) | (email story)

October 20, 2008

123 Laidley (To Which Jeremy Kotas Added A Bit Of Height And Flair)

123 Laidley offers big city views and a few green features (think commercial grade 4kw solar panels). And of course, a modern living room and second floor loft befitting architect Jeremy Kotas' design aesthetic and home.

Sold by Kotas in July of 2003 for a reported $1,042,500, 123 Laidley is back on the market today and asking $1,700,000.

∙ Listing: 123 Laidley (4/2.5) - $1,700,000 [123laidley.com] [MLS]

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

October 17, 2008

Penthouse Number Two Of Three Atop Six Zero One Fourth

We’re not digging it quite as much as number one, but number two is one of only three penthouses built atop the Heublein Building (601 4th Street), so a mention it gets.

And if you buy it, forget the housewarming. Invite us over for a twilight soak.

∙ Listing: 601 4th Street #PH2 (1/1) - $1,099,000 [brendondesimone.com] [MLS]
∙ The Heublien Building Lofts (601 4th Street) [SocketSite]
∙ A Truly Unique San Francisco Space And Penthouse: 601 4th St PH1 [SocketSite]

Posted by socketadmin at 10:30 AM | Permalink | Comments (18) | (email story)

A Relatively New Building (1989) In The Midst Of Old Money

It’s not exactly our style, but we couldn’t help but do a double take on the master suite. Or the views (especially from the 3,000 square foot terrace). And to be honest, the price.

Four parking spaces (that’s the upside of combining two units), and roughly a thousand dollars per space per month in HOA dues (and that would be the down).

∙ Listing: 1150 Sacramento Street #703 (4/3) - $9,700,000 [1150sacramento.com] [MLS]

Posted by socketadmin at 8:15 AM | Permalink | Comments (21) | (email story)

October 16, 2008

To Be A Starving Artist In San Francisco In The 70's. Or 80's. Or 90's...

As you know, we do like unique. And 3767 21st Street fits the bill. Bonus point for naming the "local renowned potter" who built the home in 1970. And ahh...to be a starving artist in San Francisco in the 70's. Or 80's. Or pehaps even 90's.

∙ Listing: 3767 21st Street (1/1) - $1,295,000 [MLS]

Posted by socketadmin at 1:30 PM | Permalink | Comments (10) | (email story)

1342 Shrader: Out Of The Pocket And Into The Open (And MLS)

1342 Shrader first caught our attention as pocket listing six months ago (with an asking price of $3,500,000 at the time). And make no mistake, this isn’t the same 1342 Shrader that sold for $1,900,000 in 2003.

Think major remodel, reclaimed space, and a new guest studio/office in the garage out back designed by Feldman Architecture and Lisa Lougee Interiors which will be featured in the December 2008 issue of Sunset Magazine (hey, we know it when we see it).

Now officially on the market and listed on the MLS with the same floor plans...

...but new photography, a new asking price ($2,985,000), and an open house schedule with a "twilight preview" tonight (10/16).

∙ Listing: 1342 Shrader (5+/4.5) - $2,985,000 [1342shrader.com] [Floor Plans] [MLS]
∙ The New New 1342 Shrader (And Guest Studio/Office Out Back) [SocketSite]

Posted by socketadmin at 7:30 AM | Permalink | Comments (33) | (email story)

October 15, 2008

The "Three Palms" Of 2829 Steiner Street (And At Least One Damn)

Purchased for $2,500,000 in November of 2007, the three condos that compose 2829 Steiner have undergone a “ground-up renovation” and modern makeover. We do like the windows. And we can’t argue with the top floor’s damn nice private roof deck and views.

And as a reader points out, now listed for the equivalent of $4,769,000 combined, or ranging from $879,000 to $2,195,000 apart.

∙ Listing: 2829 Steiner Street [3palmssf.com]
∙ Listing: 2829 Steiner #1 (1/1) - $879,000 [MLS]
∙ Listing: 2829 Steiner #2 (2/2) - $1,695,000 [MLS]
∙ Listing: 2829 Steiner #3 (2/2) - $2,195,000 [MLS]

Posted by socketadmin at 9:30 AM | Permalink | Comments (21) | (email story)

Up For Auction With No Reserve! (But A Starting Bid Of $288,000)

We don’t know who’s going to be doing the actual auctioning. And we can’t vouch for the unit or its relative value. But according to the listing for 1357 9th Avenue #2, this one bedroom TIC will be “auctioned to highest bidder” on Friday 10/17 at 1pm.

And while “no reserve” is in all caps (and even surrounded by asterisks), we’ll also note a “starting bid” of $288,000. Ah, semantics. (And let us know if you go.)

∙ Listing: 1357 9th Avenue #2 (1/1) - $288,000 (TIC) [MLS]

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

October 14, 2008

Apples To Apples At Watermark And What Would (Or Will) You Do?

From a plugged-in reader:

I just noticed that unit 4C at the Watermark is now being listed on craigslist for rent @ $4300 a month. It's still on the market for $1,032,000.

We’ll add purchased on 12/22/06 for $939,000 (which wouldn’t reflect any incentives), monthly HOAs of $780, and on the market for 116 days (having started at $1,080,000).

And we’ll ask: what would (or will) you do?

∙ Listing: 501 Beale Street #4C (2/2) - $1,032,000 [MLS]
∙ $4300 / 2br - Elegant corner condo in the Watermark [Craigslist]

Posted by socketadmin at 2:30 PM | Permalink | Comments (29) | (email story)

A Japanese Styled Home (And Market As Well?)

The Japanese influenced 121 Edgehill Way has fallen out of contract and its list price reduced to $1,195,000. As a plugged-in reader previously noted, “sold for $1,195,000 in February of 2006.”

We’re still suckers for the Japanese influenced design elements, but in terms of a Japanese styled real estate market...

∙ Listing: 121 Edgehill Way (4/2.5) - $1,195,000 [121edgehill.com] [MLS]
∙ From The People Person Who Brought You Green Tea In The Park [SocketSite]

Posted by socketadmin at 12:15 PM | Permalink | Comments (11) | (email story)

October 10, 2008

It's Been A Rough Week, So You Might As Well Grab A Glass Of Wine

If you’ve been wondering what’s been built inside, now’s your chance to see. Three units total with a “twilight wine & sneak preview” of the penthouse tonight (10/10) from four to six.

∙ Listing: 165 Collingwood (2/3) - $1,749,000 [MLS]

Posted by socketadmin at 12:15 PM | Permalink | Comments (38) | (email story)

Vibe, Tall Windows And A "Balconette" (But A Little Less View)

What can we say, we simply liked the overall vibe, tall windows and “balconette.” The only thing missing? A few of those views. Of course that wouldn't have caught any plugged-in readers by surprise, and might help explain that wall of new "designer silk drapes."

∙ Listing: 2736 Broderick (4/3.5) - $3,625,000 [MLS]
∙ Honey, What Happened To Those Views We Paid For? [SocketSite]

Posted by socketadmin at 12:00 PM | Permalink | Comments (10) | (email story)

A Bit Of Hyperbole But Still A Spectacular View: 333 Bush #3706

Granted, it’s a matter of opinion but we’ll still take exception to the MLS hyperbole (including “SF's most prestigious doorman addresses”), but definitely not the view.

∙ Listing: 333 Bush Street #3706 (2/2) - $2,088,000 [MLS]

Posted by socketadmin at 11:30 AM | Permalink | Comments (14) | (email story)

It's Deja Vu (But Not DJIA) All Over Again: 2170 Pacific Avenue Edition

One official “day on the market” in district seven (be sure to adjust those industry statistics if you're playing along at home). “On Tour as New” and “1st OPEN!” according the listing. And yet somehow strangely familiar. For the second time.

We'll try to lead by example, however, and at least add a bit of information that's actually "new": purchased on 5/27/2004 for $2,350,000. Closing price for the Dow Jones Industrial Average on that day: 9,958. Currently: 8,174 (and falling rising falling).

∙ Listing: 2170 Pacific Avenue (3/3.5) - $3,250,000 [MLS]
∙ At Least Some Of The Photos Look To Be "New" As Well: 2170 Pacific [SocketSite]

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

October 9, 2008

370 Lansdale: Two Checks (But The Other Three Are Up To You)

“Unique.” Check (and check out the fireplace). “In need of total fixing and updating.” Check. "Options...possibilities" and a fair price? Those three are up to you.

∙ Listing: 370 Lansdale (2/1.5) - $799,000 [realestatesf.com]

Posted by socketadmin at 4:30 PM | Permalink | Comments (43) | (email story)

October 8, 2008

Second Mover's Advantage In Noe Valley? (1278-1282 Church Street)

While 1278 Church Street closed escrow on 9/19/08 with a reported contract price of $1,368,000 ($27,000/2% under asking), the list prices on the other two new TIC's in the building have just been reduced: 1280 Church by $66,000 (5.3%) and 1282 Church by $70,000 (5.4%). Plus, "seller will [now] buy down your interest rate!"

And speaking of listings on Church Street...

∙ Newish Construction In Noe: Three TICs At 1278-1282 Church Street [SocketSite]
∙ Listing: 1280 Church Street (3/3) - $1,245,000 (TIC) [MLS]
∙ Listing: 1282 Church Street (3/2) - $1,365,000 (TIC) [MLS]
∙ It’s Friday, So Insert Cheeky Comment Here (943 Church Street #B) [SocketSite]

Posted by socketadmin at 1:15 PM | Permalink | Comments (34) | (email story)

October 7, 2008

Voyeurlicious Design (TM) In More Ways Than One: 188 Minna #23F

And speaking of glass walls (but definitely not glass ceilings) as well as voyeurlicious design (in more ways than one), a reader points us in the direction of St. Regis Residences (a.k.a. 188 Minna) #23F.

No word on whether or not the “automatic window coverings” extend to the wall as well.

UPDATE: And now there is (and the word is yes). Now if you could flip a switch and the glass turned translucent...

∙ Listing: 188 Minna #23F ( 2/2.5) - $2,595,000 [Janet Krahling] [MLS]

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

Pride Of (A Few Weeks Of Arterra) Ownership: 300 Berry #518

Residents started moving in two months ago, an understated “grand opening” event was held last week (looking good and tasty margaritas), and at least one resale unit has been listed (touting “Pride of ownership!” on craigslist).

Keep in mind that Arterra remains roughly 50% sold. And the last we heard, incentives of "up to $25,000" were being bandied about on the unsold units (complete with that new condo smell).

∙ $568000 Beautiful 1 Bed, 1 Bath Condo w/ Parking! [300 Berry #518] [Craigslist]
∙ Arterra Is About To Be Occupied And A Reader Seeks Some Advice [SocketSite]
∙ The Hayes And Arterra: A Grand Opening And Both Roughly 50% Sold [SocketSite]

Posted by socketadmin at 7:30 AM | Permalink | Comments (39) | (email story)

When Taking A Cold Shower Might Have The Opposite Effect...

Unfortunately there aren’t more (or better) photos and we haven’t been inside (readers?), but the stairs caught our attention. And the voytastic bath just won’t let it go.

∙ Listing: 2311 19th Street (3/3.5) - $2,195,000 [MLS]

Posted by socketadmin at 6:00 AM | Permalink | Comments (14) | (email story)

October 6, 2008

Still An Architectural Work Of Art, But Still A Bidding War To Be?

As we wrote eighteen months ago when 25 Mercedes Way was listed for $1,895,000 but sold for $2,200,000:

This Joseph Leonard designed Arts and Crafts house is described as an “architectural work of art.” And we’re buying it (the description not the house). Although if we did buy it (the house not the description) we have a feeling some bathroom/kitchen updating would have to be factored into our budget.

As we note today: back on the market with what appear to be an updated kitchen (although not what we would have done) and bath, but no permits listed online.

Now asking $2,099,000 (and betting on another bidding war?).

∙ Listing: 25 Mercedes Way (5/3) - $2,099,000 [MLS]
∙ We’re Buying It (The Description Not The House) [SocketSite]
∙ Fun With Building Permits (And Complaints) [SocketSite]

Posted by socketadmin at 8:00 AM | Permalink | Comments (36) | (email story)

A Renovated Cow Hollow Apple On The Tree: 1968 Greenwich Street

Purchased for $2,100,000 in May of 2005, 1968 Greenwich in the heart of Cow Hollow (District 7) is back on the market today. Asking $2,100,000 (with nary an alley, moldy carpet, or fire station in sight).

∙ Listing: 1968 Greenwich (3/2.5) - $2,100,000 [MLS]

Posted by socketadmin at 3:00 AM | Permalink | Comments (26) | (email story)

October 3, 2008

You’ve Seen Two, But You Haven’t Seen Them All: 300 Beale #406

Boffi, Miele, Porro and Agape (the tub above) inside. And yes, Embarcadero Lofts (this time #406). As we said, you’ve seen one (or two), but you haven’t seen them all…

∙ Listing: 300 Beale #406 (2/2) - $1,595,000 [MLS]
∙ Loft By Nature, Luxury By Design: Embarcadero Lofts (300 Beale) [SocketSite]
∙ You’ve Seen One, But You Haven’t Seen Them All: 300 Beale #613 [SocketSite]

Posted by socketadmin at 10:00 AM | Permalink | Comments (34) | (email story)

A Bit Of Classic Noe Elegance (Just The Facade Ma'am) And Views

Nothing too fancy, simply a bit of classic Noe elegance (at least on the surface). And views.

∙ Listing: 4338 Cesar Chavez (4/3.5) - $2,195,000 [MLS]

Posted by socketadmin at 7:00 AM | Permalink | Comments (73) | (email story)

October 2, 2008

One Of The Four Copper Clad Condos Atop 17th Street Hits The MLS

Seven months ago two for the four “copper clad condos” atop 17th Street hit the MLS. Listed for $1,399,000 ($774/sqft), 4588 17th Street closed escrow two months later on 5/20/08 with a reported contract price of $1,390,000 ($769/sqft). And at the time 4590 17th Street was listed for $1,349,000 ($785/sqft) but never sold.

Last week 4590 17th Street returned to the market with a new listing, an official seven days on the market, and now asking $1,299,000 ($756/sqft).

∙ Listing: 4590 17th Street (3/3.5) 1,718 sqft - $1,299,000 [MLS]
∙ Two Of The Four Copper Clad Condos Atop 17th Street Hit The MLS [SocketSite]
∙ Copper (And Wood) Clad And Coming Semi-Soon At 17th And Clayton [SocketSite]

Posted by socketadmin at 9:15 AM | Permalink | Comments (17) | (email story)

October 1, 2008

You’ve Seen One, But You Haven’t Seen Them All: 300 Beale #613

A bit more industrial (some might even say loft like) than Embarcadero Lofts #319, 300 Beale #613 should hit the MLS soon.

Penthouse, private corner patio, wood-burning fireplace, two beds, two baths, a decidedly modern kitchen with pear wood cabinetry, and all around 1,800 square feet.

∙ Listing: 300 Beale #613 - $1,649,500 [meredithmartin.com]
∙ Loft By Nature, Luxury By Design: Embarcadero Lofts (300 Beale) [SocketSite]

Posted by socketadmin at 12:30 PM | Permalink | Comments (38) | (email story)

945 Green #9: Eye Candy Abounds (Art, Design, Plan And Views)

945 Green Street #9 hit the market two weeks ago, but we’ve been saving the eye candy for an appropriate time.

While there aren’t a ton of photos (and we’ll just ignore the duplicates), we like what we see. And that goes doubly so for the collection of art and views (and floor plan to peruse).

∙ Listing: 945 Green #9 (4/5.5) - $6,700,000 [MLS]

Posted by socketadmin at 11:00 AM | Permalink | Comments (12) | (email story)

In Need Of Some Attention (In More Ways Than One): 1773 15th Ave

Down the street from 1915 15th Avenue (which has fallen out of contract) lies 1773. Listed in November of 2007 for $1,600,000 (amid a chorus of neighborhood high fives) the listing noted “A Must see!” and soon thereafter added “Motivated Seller! Bring in any offers!”

In December of 2007 the list price was first reduced to $1,550,000 and then to $1,499,000. In January of 2008 the list price was first reduced to $1,399,000 and then to $1,188,000. And in February the house was briefly in contract.

In early April 2008 “short sales, already have the 1st lender’s approval, and waiting for 2nd lender’s approval” was added to the notes as were two exclamation points after “Motivated Seller!!!” And two weeks later the property shed those pesky days on the market and reset the MLS clock with a new listing at $1,188,000.

Four days ago 1773 15th Avenue returned to the market once again. Now asking $949,000 and noting “an original condition property which needs some attention.” Agreed.

∙ Listing: 1773 15th Avenue (4/3.5) - $949,000 [Vanguard via Pacific Union]
∙ What’s 140 Days On The Market And $280,000 Between Friends? [SocketSite]

Posted by socketadmin at 6:15 AM | Permalink | Comments (23) | (email story)

September 30, 2008

A Listed Infinity Resale (301 Main #4B) And Reader’s Report On Sales

As a number of readers and tipsters have noted alike, 301 Main Street #4B (a lower floor two-bedroom resale in The Infinity) has hit the MLS and open house parade.

According to one tipster the asking price of $1,499,000 ($826/sqft) is “more than the current owner paid,” but unfortunately that’s a claim that we can’t confirm (readers?).

We can confirm, however, that $20,000 in Design Center credit was being offered “on most unsold homes in Phase 1” to all those attending an Infinity sales event last week (“must be in contract by 10/15/08”).

And from a plugged-in reader who attended said event: “They were still quoting 85-90% of units in contract or sold, which doesn't seem to have changed much in the last 10 months or so.” (Actually, 20% ten months ago.)

UPDATE: From a plugged-in tipster (and not the sales office): "[A]sking price for 4B was $1.25m when we were initially looking at it."

∙ Listing: 301 Main Street #4B (2+/2.5) - $1,499,000 [MLS]
∙ Infinity Update: Construction, Tower Two, And Possibly Even Sales [SocketSite]

Posted by socketadmin at 5:30 AM | Permalink | Comments (36) | (email story)

September 29, 2008

A Quick Cut (And Case Of Cash Back?) For 310 Townsend #308

Priced by the developer at $611,000 when the building first opened in February of 2007, 310 Townsend #308 closed escrow in June of 2007 with a reported contract price of $617,500 (no word on whether we're talking upgrades or another case of “cash back”).

Back on the market two weeks ago with an asking price of $629,000 (a sale at which would have represented average annual appreciation of roughly 1.4% over the past sixteen months), the list price has since been cut to $599,000.

∙ Listing: 310 Townsend #308 (1/1) - $599,000 [MLS]
∙ 310 Townsend: Available And Selling [SocketSite]
∙ Can Bank Owned Comps Kill (Values)? 246 2nd Street #502 Returns [SocketSite]

Posted by socketadmin at 6:00 PM | Permalink | Comments (24) | (email story)

We Are Suckers For "Grandeur & Old World Charm" (2860 Pierce)

Like there’s any chance we could pass up “grandeur & old world charm” or to sneak a peek inside. Unfortunately it's not entirely "old" (or charming).

Designed by Albert Schroepfer (of Dunn & Schroepfer) circa 1931, it’s one parcel with two properties (a 7,000 square foot single-family (2860 Pierce) and four units adjoining (2383 Union)), garages for seven cars and a side lot to store eight (or play hoops).

∙ Listing: 2860 Pierce/2383 Union (4/4 + 4 units) - $16,950,000 [MLS]

Posted by socketadmin at 10:45 AM | Permalink | Comments (15) | (email story)

September 26, 2008

One Day On The Market (But You Might Have Seen This View Before)

Five months ago 175 Grand View Avenue hit the market with a list price of $1,200,000.

Reduced to $1,149,000 a month later (“New price! Condo alternative!”), and then to $1,090,000 about a month after that, it’s now back on the MLS with a new listing, one official day on the market (average DOM statistics anyone?), and asking $995,000.

∙ Listing: 175 Grand View Avenue (2/2) - $995,000 [MLS]

Posted by socketadmin at 12:15 PM | Permalink | Comments (13) | (email story)

It’s Friday And We Can’t Pass Up A Pretty Face Façade

No real story that we know of (readers?), but it’s Friday and we simply couldn’t pass up the Colonial Revival façade. And yes, we’re choosing to ignore the buildings on either side.

∙ Listing: 1612 Vallejo (4/3) - $2,395,000 [MLS]

Posted by socketadmin at 11:45 AM | Permalink | Comments (19) | (email story)

If Only Averages And Appreciation Were The Same Thing

93 San Pablo Avenue is a 1927 Tudor on the outside, but now bit more modern within.

Purchased as a fixer for $1,260,000 seven months ago and completely overhauled, it’s no where near being an apple.

Its sale, however, will boost the average sales price in the neighborhood (asking $2,575,000). If only that and appreciation were the same thing (but alas they're not).

∙ Listing: 93 San Pablo Avenue (5/3) - $2,575,000 [MLS]

Posted by socketadmin at 11:15 AM | Permalink | Comments (7) | (email story)

398 Eureka Officially Priced ($2,450,000) And Additional Photos Online

398 Eureka has officially been priced and hit the MLS with additional photos. Asking $2,450,000 (right in line with what a plugged-in Jim had heard).

∙ AIA Tour (And Architect’s) Home Hitting The Market: 398 Eureka [SocketSite]

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

Not A Perfectly Clean Apple In Bernal, But You'll Get The Gist

After three weeks on the market the list price for 22 Coleridge on the edge of Bernal has been dropped from $599,000 to $587,000. Purchased in April of 2005 for $607,000.

Unfortunately it's not a perfectly clean “apple” as the kitchen was completely renovated in 2006 (new cabinets, appliances, flooring, etc.), but you'll get the gist. And as a plugged-in reader notes, “seller is a licensed real estate agent.” You know, in the trenches and all.

∙ Listing: 22 Coleridge (1/1) - $587,000 [MLS]

Posted by socketadmin at 8:30 AM | Permalink | Comments (41) | (email story)

659 Greenwich: Two For One And A Peek Inside

New construction in 2002, the four bedroom 659 Greenwich was purchased for $3,200,000. Back on the market today and asking $3,795,000.

And wouldn’t you know it, it’s actually the 1800’s two-bedroom cottage out back (and above) that ended up catching our eye.

∙ Listing: 659 Greenwich (4/3 + 2/1) - $3,795,000 [MLS]

Posted by socketadmin at 7:00 AM | Permalink | Comments (16) | (email story)

September 25, 2008

A Noe Valley Apple Ripens As The Orchard Expands: 1604 Castro

Purchased for $920,000 in December of 2004, a sale of 1604 Castro at the current list price of $1,050,000 would represent average annual appreciation of roughly 3.5% over the past four years for this renovated single-family Noe Valley home assuming the entirely of said renovations occurred prior to the last sale (and we didn't see any recent permits).

In related news, Noe Valley listed inventory continues to build with 29 single-family homes and 39 condos/TICs currently active, available (i.e., not contingent) and competing for your attention.

∙ Listing: 1604 Castro (2/1) - $1,050,000 [MLS]

Posted by socketadmin at 12:00 PM | Permalink | Comments (41) | (email story)

September 23, 2008

Cow Hollow Contemporary (And Apparent Foreclosure): 215 Moulton

As a plugged-in tipster notes, 215 Moulton “in the heart of Cow Hollow” appears to have been bought back by the bank with a loan balance of $1,893,000 this past July.

And while the contract price for its previous sale in November of 2007 doesn’t appear to be public, we will note a 2008 tax assessed value of $1,800,000 for this District 7 single-family contemporary townhouse.

Listed in April prior to foreclosure for $1,895,000, reduced to $1,795,000 in July, and currently asking $1,750,000.

∙ Listing: 215 Moulton (3/3.5) - $1,750,000 [215moulton.com] [MLS]

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

September 22, 2008

1515 Lyon: Now “Totally Upgraded” (And Asking A Little Less)

While it was a fairly clean apple six months ago when listed for $1,389,000 (or a few months later for $1,369,000), this single-family home (with off street parking) in Lower Pacific Heights has been “TOTALLY UPGRADED” since.

That being said, the list price for 1515 Lyon has once again been reduced (now asking $1,275,000) as have its official days on the market (now four). Purchased just under two years ago (10/25/06) for the same ($1,275,000).

∙ Listing: 1515 Lyon (3/3) - $1,275,000 [MLS]
∙ A Single-Family Apple On The Tree In Lower Pacific Heights [SocketSite]
∙ An Apple Is Withdrawn Without Selling (But Quickly Returns As New) [SocketSite]
∙ An Old Listing Suddenly Returns (While The New One Disappears) [SocketSite]

Posted by socketadmin at 9:30 AM | Permalink | Comments (20) | (email story)

September 19, 2008

The Height(s) Of Foreshadowing: 1940 Broadway #6 Returns

We’d love to call it foreshadowing (and that we knew), but alas it’s simply a cosmic coincidence (and we didn’t). And while seven months ago we featured the floor plan, and two days ago we made reference, yesterday 1940 Broadway #6 returned to the MLS.

As a plugged-in tipster notes, “After selling a few months back, back on the market for 800k more at 5.19 million (and with a LOT more pictures, drooool...).”

And speaking of foreshadowing, keep in mind that high-end coops aren’t typically fond of flippers or fickle buyers. Might something else be afoot?

∙ Listing: 1940 Broadway #6 (3/4) - $5,191,000 [MLS] [1940broadway.com]
∙ A Few Of Our Favorite Things: Big Windows, Views, And A Floor Plan [SocketSite]
∙ A Lower Floor (Plan) At The Heights: 1940 Broadway #1W [SocketSite]

Posted by socketadmin at 5:00 PM | Permalink | Comments (21) | (email story)

A Contemporary Japanese Estate In Noe (And No, It's Not Ellison's)

542 Valley was designed by a Japanese temple carpenter and constructed on a double Noe lot with Japanese gardens and flow.

Offers another master suite in which we’d love to awake (and slumber with the doors open).

And a chicken.

∙ Listing: 542 Valley (4/3.5) - $2,995,000 [MLS]

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

Cape Horn Lofts (540 Delancey) In General, And #401 In Specific

Constructed as the Cape Horn Warehouse in 1892, and converted into the Cape Horn Lofts by Thompson Brooks and Pfau Architecture in 1997, 540 Delancey is now home to fifteen upscale “loft type” condominiums.

Purchased for $825,000 in June of 2004 and then remodeled in 2005 (sorry, no apple here), 540 Delancey #401 is back on the market for $1,150,000.

In terms of Cape Horn (and District 9) apples, however, 540 Delancey #203 did close escrow three months ago with a reported contract price of $900,000, purchased in February of 2006 for the same.

∙ Listing: 540 Delancey #401 (1/2) - $1,150,000 [openhomesphotography.com] [MLS]

Posted by socketadmin at 8:30 AM | Permalink | Comments (41) | (email story)

WYSIWYG And Coming Soon Listed: 200 Brannan #506

As a plugged-in reader notes, the WYSIWYG listing and additional pictures for 200 Brannan #506 are no longer “coming soon,” they’re here.

Posted by socketadmin at 6:45 AM | Permalink | (email story)

September 18, 2008

Peeking Behind The Mid-Century Facade Of 68 Turquoise

We’re digging the mid-century bones, courtyard, and Glen Canyon overlook of 68 Turquoise. The non-mid-century kitchen cabinets and painted ceilings, not so much (but those can be changed).

∙ Listing: 68 Turquoise (3/2) - $1,095,000 [68tourquoise.com] [MLS]

Posted by socketadmin at 8:30 AM | Permalink | Comments (15) | (email story)

Now That’s How To Flip Renovate Flip? (3701 Washington)

As we wrote in 2006:

Purchase a Presidio Heights Beaux Arts mansion (3701 Washington) in need of renovation for $8 million; spend a “couple of million” updating the plumbing, roof, and parking; entice 25 top-tier decorators to ‘volunteer’ their time; and voila! We give you the 29th annual San Francisco Decorator Showcase property. (And a brand spanking new $15.5 million dollar price tag.)

As we added six months later:

The 2006 Decorator Showcase property (3701 Washington) has been reduced $1,250,000 (8%).

As we note today: On the market and asking $17,500,000. And for those who might have missed them, 2006 Decorator Showcase photos are still available online.

But as they're tied to the 2006 listing (and a $14,250,000 price), get them while you can.

∙ Listing: 3701 Washington (6/6.5) - $17,500,000 [MLS]
∙ Now That’s How To Flip Renovate! [SocketSite]
∙ It’s Tough At The Top [SocketSite]

Posted by socketadmin at 7:00 AM | Permalink | Comments (11) | (email story)

September 17, 2008

A Lower Floor (Plan) At The Heights: 1940 Broadway #1W

It’s not quite in the same league as number six, but it is in the same beloved building (The Heights at 1940 Broadway). And we are quite fond of floor plans.

∙ Listing: 1940 Broadway #1W (3/2) - $2,495,000 [MLS]
∙ A Few Of Our Favorite Things: Big Windows, Views, And A Floor Plan [SocketSite]

Posted by socketadmin at 10:51 AM | Permalink | Comments (10) | (email story)

Despite The Palm Tree, It’s Francisco Court (And #5 Is On The Market)

Purchased for $880,000 in October of 2005, this two bedroom (but only one bath) Francisco Court condo in District 8 (Russian Hill) is back on the market. And as a plugged-in reader notes, it’s currently listed for $865,000.

One deeded parking spot. We’re guessing the $55,000 monthly HOAs are a typo (most likely $550). And despite the palm tree, not to be confused with the all TIC Francisco Palms development down the street.

∙ Listing: 1135 Francisco Street #5 (2/1) - $865,000 [MLS]
∙ The Francisco Palms (1229 Francisco) [SocketSite]

Posted by socketadmin at 7:30 AM | Permalink | Comments (23) | (email story)

September 16, 2008

Plugged-In Readers Toss A Few Apples Onto Our Apple Cart

From one plugged-in reader in District 5:

I can see this new listing from my home, so I am following it for many reasons and it may interest SocketSite [Editor's Note: we're always interested in apples]: 632 Ashbury Street, between Haight and Waller.

A lower, 2 bedroom flat in a two flat building, includes a parking space in the garage and some storage. Includes a shared, very handsome and mature garden. The flat is in move in condition, but nothing very fancy. Asking as of today: $929,000. Per Redfin was last sold on 11/23/2005 for $865,000.

It will be interesting to see how literally ground zero in the Haight Ashbury is faring these days.

To another in District 9: 18 Lansing Street #402 - purchased 5/05 for $975,000, sold 8/08 for $800,000. And yet the median price in District 9 is up? Inconceivable.

∙ Listing: 632 Ashbury Street (2/1) - $929,000 [MLS]

Posted by socketadmin at 11:45 AM | Permalink | Comments (48) | (email story)

A Couple Of Cubix Condos Hit The MLS (Now Starting At $249,000)

A couple of Cubix Yerba Buena condos have hit the MLS. And while pricing for the “first release” started at $279,000, 766 Harrison #214 has been listed at $269,000 (which might suggests some early adjustments).

UPDATE: Make that "Studio's from $249,000."

∙ Listing: 766 Harrison #214 (0/1) - $269,000 [MLS]
∙ Listing: 766 Harrison #410 (0/1) - $314,000 [MLS]
∙ Cubix Yerba Buena (766 Harrison): Reader Perspective And Pricing [SocketSite]

Posted by socketadmin at 10:30 AM | Permalink | Comments (22) | (email story)

Nothing To See Here (Unless 2924 19th Avenue Was Once Your Comp)

Once again, purchased for $1,030,000 in August of 2005 establishing a comp by which other neighborhood (District 3) single-family homes were priced and valued.

2924 19th Avenue returned to the market as a “short sale” at the beginning of August with a list price of $988,000. Reduced to $899,000. Then to $849,000. And now asking $799,000 (a sale at which would represent a 22.4% drop in value).

And while it is a rather busy location, it isn't any busier than it was in 2005.

∙ Listing: 2924 19th Avenue (3/2) - $899,000 [MLS]
∙ The Comps They Are A Changing: The Short Sale Of 2924 19th Avenue [SocketSite]

Posted by socketadmin at 4:00 AM | Permalink | Comments (42) | (email story)

September 15, 2008

Eyeing An (Updated) Esherick In Pacific Heights: 3074 Pacific

Built in 1952, designed by Joseph Esherick, and remodeled in 2005. And akin to an Eichler, designed to integrate with, rather than separate from, its surroundings (although not to the same extreme).

∙ Listing: 3074 Pacific (3/2.5) - $4,500,000 [sfproperties.com] [MLS]

Posted by socketadmin at 4:00 PM | Permalink | Comments (18) | (email story)

A “Sleek” 445 Upper Terrace #3: Renovated, Relisted And Repriced

It’s not huge (875 square feet), but it is thoughtfully renovated (as well as presented). Asking $879,000 in July, 445 Upper Terrace #3 was recently relisted (now an “official” 3 days on the market) and repriced (now asking $779,000).

Purchased in April of 2006 (pre-renovation) for $690,000. Oh, and big views.

∙ Listing: 445 Upper Terrace #3 (2/2) - $779,000 [445upperterrace.com] [MLS]

Posted by socketadmin at 8:45 AM | Permalink | Comments (22) | (email story)

September 12, 2008

2915-2917 Laguna: The Shot, Stairs And “Significance”

We simply liked the shot (and the stairs), we’ll let you make the call on the “significance.”

∙ 2915-2917 Laguna: Photos, Background and Floor Plans [residentphotography.com]
∙ Listing: 2915 Laguna (3/2.5) - $2,550,000 [MLS]
∙ Listing: 2917 Laguna (4/3.5) - $3,175,000 [MLS]

Posted by socketadmin at 4:15 PM | Permalink | Comments (10) | (email story)

Bad Data In Bernal Heights Or Something Else Afoot? (152 Banks)

From the listing for 152 Banks in Bernal Heights: “New Owner - Reduced Price. Recently renovated with kithcen (sic) updates, hardwood flooring, and new windows. 2/1 upstairs - 1/1 downstairs.”

From public records: purchased for $675,000 in July of 2005, sold in April of 2006 for $900,000. And while we’re assuming that aforementioned “recent renovation” occurred in that nine month window between sales (which might help explain the bump in price), we didn’t find any mention of permits online.

And of course, that doesn’t help explain what’s happened between 2006 (when purchased for $900,000) and now (asking $749,900).

UPDATE (9/29): Reduced to $699,900.

∙ Listing: 152 Banks (3/2) - $749,900 [MLS]

Posted by socketadmin at 7:00 AM | Permalink | Comments (26) | (email story)

September 11, 2008

We Actually Wish More “Remodeled” Homes Came This Way...

While “permit status if any is unknown” typically means none (which could be a problem) and “in the process of being remodeled…no kitchen or bathrooms except for framework” can make financing a bit tricky, there’s nothing worse than paying for an amateur developer’s “designer” kitchen that never should have been. Okay, other than paying a "fixed" price for a fixer of a home.

∙ Listing: 727 Grafton Avenue (2/1) - $369,000 [MLS]

Posted by socketadmin at 6:40 AM | Permalink | Comments (54) | (email story)

September 10, 2008

From Eight Eight Eight To Nine Nine Nine Nine For 76 Caselli

Last month 76 Caselli returned to the market on 8/8/08 with a list price of $2,288,800 ($269,200 under what it was listed for three months prior). Our questions at the time: "Will those triple eights be auspicious? Will it be enough to make tipster jump?"

Apparently not (on either account). As a plugged-in reader notes, yesterday the list price for 76 Caselli was reduced to $1,999,900. That’s what "tipster" gets for waiting.

∙ Listing: 76 Caselli (3/3.5) - $1,999,900 [MLS]
∙ Eight Eight Eight On Eight Eight Oh Eight: An Auspicious Return? [SocketSite]
∙ Our First And Second Thoughts For The Recently Reduced 76 Caselli [SocketSite]

Posted by socketadmin at 10:25 AM | Permalink | Comments (20) | (email story)

A Hayes Valleyish New Construction Apple On The Tree: 368 Elm #406

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.

∙ Listing: 368 Elm Street #406 (1/1) - $597,000 [MLS]
∙ 368 Elm Street Condos: First Release Pricing And Scoop [SocketSite]
∙ 368 Elm Street Condos: Complete Pricing (And An Update) [SocketSite]

Posted by socketadmin at 9:03 AM | Permalink | Comments (17) | (email story)

Never Mind The Nine Reductions, Focus On The Previous Sale (Comp)

Once again, a challenging Cow Hollow location (although no more so now than when purchased for $1,800,000 in October of 2005); briefly in contract earlier this year after being reduced from $2,195,000 to $1,745,000 (damn those wily buyers, or perhaps banks); and after nine reductions, now asking $1,595,000 (11.4% below its previous sale).

∙ Listing: 2243 Greenwich (6/5) - $1,595,000 [MLS]
∙ A Little Extra Perspective On The Listing Market? (2243 Greenwich) [SocketSite]

Posted by socketadmin at 7:00 AM | Permalink | Comments (33) | (email story)

September 9, 2008

Now Priced To Catch Your Attention (As It Did Ours): 1578 Indiana #8

Considering the size (1,410 square feet), layout (dual bathrooms and lofts), and upgrades (the glass railings are working for us), the current $600,000 list price for 1578 Indiana Street #8 caught our attention (as it was designed to do). Then again, so did the fact that it was originally listed for $735,000 four days ago (when we passed it by).

UPDATE: As a plugged-in reader notes, is $600,000 is the new “made you look” black?

∙ Listing: 1578 Indiana Street #8 (1/2) - $600,000 [MLS]

Posted by socketadmin at 7:45 AM | Permalink | Comments (37) | (email story)

Bank Owned (With Big Views For Now) At The Metropolitan (355 1st)

Floor to ceiling windows with bridge and building views in the living room (at least for the time being). Stainless steel appliances and granite countertops in the kitchen. And now bank owned and asking $685 per square foot on high floor at The Metropolitan.

Bragging rights to the first plugged-in reader that can determine the pre-bank purchase price (or provide an accurate update on The Californian).

∙ Listing: 355 1st Street #S2003 (1/1) - $544,700 [MLS]
∙ The Lots Have Been Cleared For The Californian And More On Fremont [SocketSite]

Posted by socketadmin at 6:00 AM | Permalink | Comments (32) | (email story)

September 8, 2008

Big Swinging…Doors (And Here Comes The Competition)

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 you’ve got to love that expected post-Labor Day spike in inventory (254 new listings over the past week, 90% in districts other than 10). Unless, of course, it’s competition.

∙ Listing: 55 Buena Vista Terrace (3/3.5) - $3,395,000 [MLS] [residentphotography.com]
∙ SocketSite's San Francisco Listed Housing Inventory Update: 9/02/08 [SocketSite]

Posted by socketadmin at 1:15 PM | Permalink | Comments (23) | (email story)

Why Settle For A Master Suite When You Can Have A Master Floor?

Alternate headline: For Those Who Have Been Feeling A Little Porny...

∙ Listing: 3460 Clay St (6/4.5) - $5,995,000 [sfproperties.com] [MLS]

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

Name That Magazine In One Listing Or Less (2526 Broadway)

From the listing for 2526 Broadway: "Recently featured in a prominent design magazine." Bonus points to the first plugged-in person to identify it (the magazine, not the address). Negative points (for the listing not the reader) if it ends up being an advetorial.

Editor's Note: Or we could check the Realtor's website: "This four bedroom, three-bath condominium residence is so unique as well as interesting to the interiors lover that it has been featured in the European version of Elle magazine."

∙ Listing: 2526 Broadway (4/3) - $2,500,000 [ninahatvany.com] [MLS]

Posted by socketadmin at 7:15 AM | Permalink | Comments (11) | (email story)

September 4, 2008

Another $1,000 A Day In “Built-In” Equity On Potrero Hill?

Purchased for $435,000 in July of 2005, the listing for 2225 23rd Street #310 has been advertising “Bank APPROVED SHORT SALE! JUST WRITE OFFER & CLOSE WITHIN 30 DAYS!! IMMEDIATE 10% BUILT-IN EQUITY!” for the past thirty days. Yesterday the list price was reduced from $363,000 to $333,000. Another 8.3% of “built-in" equity?

And then there’s 2225 23rd Street #218 in the same Potrero Court complex. Purchased in 1999 for $183,000, but refinanced in 2001, it’s simply a “Pre-foreclosre Opportunty!” [sic and sic] with a list price that has been reduced from $333,000 to $299,000.

A few other relatively recent sales of same sized condos (602 square feet) in the Potrero Court development: 2250 23rd Street #122, $385,000 on 4/11/08 (had previously sold for $457,000 in June of 2005); 2250 23rd Street #334, $400,000 on 5/22/08 (purchased for $180,000 in March of 1999); and 2225 23rd Street #318, $400,000 on 5/30/08 (purchased for $300,000 in July of 2002).

∙ Listing: 2225 23rd Street #310 (1/1) - $333,000 [MLS]
∙ Listing: 2225 23rd Street #218 (1/1) - $299,000 [MLS]

Posted by socketadmin at 11:23 AM | Permalink | Comments (23) | (email story)

September 3, 2008

Live Like Fat Mike (And We Mean That With All Due Respect)

According to a plugged-in tipster, punk rocker Fat Mike of NOFX fame is making the move from his “don’t judge a book by its cover” (or rather don't judge a front man by the exterior of his digs) manse at the gateway to St. Francis Wood.

From our tipster: “CRAZY interior design, with an attempt to downplay it with staging.” No word on how the exquisite gardens and cherub fountain affected Fat Mike's street cred.

∙ Listing: 1601 Monterey Boulevard (5/6) - $5,400,000 [MLS]

Posted by socketadmin at 4:30 AM | Permalink | Comments (20) | (email story)

September 2, 2008

A Designer Remodel Of A Relatively New Penthouse: 255 Berry #708

It’s the wood paneled ceiling and wide plank floors that first caught our attention, it’s the multiple balconies, southwest exposure, and completely overhauled kitchen (and baths) that kept it.

∙ Listing: 255 Berry #708 (2/2.5) - $2,495,000 [MLS]

Posted by socketadmin at 8:25 AM | Permalink | Comments (12) | (email story)

Same Location And Size (And For The Most Part Price) As In 2005

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.”

We won’t quibble over the value of the furniture (priced “fully furnished”).

∙ Listing: 1448 Kearny Street (0/1) - $629,000 [MLS]
∙ The Single Family Studio Home [SocketSite]
∙ 1906 earthquake refugee cottages [Presido of San Francisco]

Posted by socketadmin at 7:30 AM | Permalink | Comments (9) | (email story)

August 28, 2008

St. Regis Penthouse Asking $70M: Is San Francisco All Growns Up?

Purchased for roughly $30,000,000 as a raw shell in 2005, local real estate developer Victor MacFarlane's penthouse atop the St. Regis has been three years in the making. And while it isn't yet finished (around 85% from what we've been told), the very roughly 20,000 square feet are now back on the market for $70,000,000. Is San Francisco all growns up?

∙ St. Regis penthouse on sale for $70 million [SFGate]

Posted by socketadmin at 7:30 AM | Permalink | Comments (83) | (email story)

August 26, 2008

From The People Person Who Brought You Green Tea In The Park

However subtle, we’re suckers for Japanese influenced design elements. And wooded lots, mid-century modern, and a little bit of history too: “This Contemporary unique mid-century home was designed by the architect of the Japanese Tea House in [Golden Gate] Park.”

∙ Listing: 121 Edgehill Way (4/2.5) - $1,295,000 [MLS]

Posted by socketadmin at 6:00 AM | Permalink | Comments (8) | (email story)

It's Like A Little Slice Of Upscale Sacramento Right Here At Home

Last month 166 Yerba Buena Avenue (a.k.a. "Solaria") appeared in the Chronicle’s “sold” list with a reported price of a $1,980,000 (7/1/08). From the MLS via a tipster today:

Spectacular Solaria Mansion inspired by 18th century French chateau architecture - final phase of construction unfinished - major price reduction, subject to trustee and lender approval. Short sale.

Asking $2,995,000. Don’t ask us, but we shall ask out tipsters. And with the overgrown sign, it's like a little slice of upscale Sacramento right here at home.

∙ Listing: 166 Yerba Buena Avenue - $2,995,000 [MLS]
∙ Solaria Sells For About As Much As The Rendered Bugatti In Its Garage [SocketSite]
∙ The SocketSite Scoop On “Solaria” (166 Yerba Buena Ave) [SocketSite]
∙ It’s Not Always Fun And Games At The Top (166-68 Yerba Buena) [SocketSite]

Posted by socketadmin at 4:00 AM | Permalink | Comments (2) | (email story)

August 25, 2008

Let’s Do The Time Warp Again (In Glen Park): 461 Chenery

It’s a plugged-in tipster with a good memory that notes another price cut for the bank owned 461 Chenery in Glen Park. The property was first noted by a SocketSite reader in May soon after it was bought back by the bank on 5/12/08 for $601,343 and subsequently listed on 5/19/08 for $669,900.

After a month on the market the list price was reduced to $629,900, after another month to $599,900, and after another month (five days ago) to $539,900. As best we can tell, the pre-bank owner had purchased the property for $485,000 in January of 2003 (and had pre-spent a bit of that “appreciation”).

From our tipster (and prior to anyone wrongly screaming “schadenfreude!”):

Interesting to see what it goes for given that it is very much walking distance to BART.

Huge fan of the site and bought a house in the Glen Park area 13 months ago. Jealous of this listing price for sure but let’s see where the sale price comes in because it is still well above 2 bedroom rent for cash flow.

Oh, and the current Zillow “Zestimate”: $776,500 (with a “low” of $628,965).

∙ Listing: 461 Chenery (2/1) - $539,900 [MLS]
∙ March S&P/Case-Shiller: San Francisco MSA Declines, Top Tier Flat [SocketSite]

Posted by socketadmin at 7:30 AM | Permalink | Comments (98) | (email story)

August 22, 2008

If $550,000 Were A Rounding Error, Would $2,000,000 Be As Well?

Purchased for $9,500,000 last fall (including the lot next door), initially seeking $11,500,000 (according to its website) and then officially listed for $10,950,000 last month (with the later two prices not including the lot next door), the list price for 2151 Green Street has been reduced $2,000,000. Now asking $8,950,000.

The lot next door? It's no longer listed for $24,500,000 fully developed, but as a plugged-in reader notes, now asking $5,900,000 as an entitled lot.

∙ Listing: 2151 Green Street (6/5) - $8,950,000 [2151green.com] [MLS]
∙ Listing: 2157 Green Street (entitled lot) - $5,900,000 [MLS]
∙ But Hey, $550,000 Is Simply A Rounding Error To A Proper Industrialist [SocketSite]
∙ The Scoop On 2157 Green Street (Could You See The Foreshadowing?) [SocketSite]

Posted by socketadmin at 3:00 PM | Permalink | Comments (31) | (email story)

It’s Friday, So Insert Cheeky Comment Here (943 Church Street #B)

Floor to ceiling windows especially with views? Yes please.

And in the bedroom too? Double yes (and insert cheeky comment here).

∙ Listing: 943 Church Street #B (3/3) - $2,395,000 [943churchpenthouse.com] [MLS]

Posted by socketadmin at 5:30 AM | Permalink | Comments (85) | (email story)

The "Best Deal" In SoMa Nine Months Ago, A "Motivated Seller" Today

About nine months ago 246 2nd Street #1306 hit the market with a list price of $939,000, quickly shaved $20,000 off the asking, and added the following line to the property description: "Now Best Deal in SOMA: GO!" As far as we know, nobody went.

Last week 246 2nd Street #1306 returned to the MLS with a list price of $859,000. The new line: "Motivated seller: priced to sell."

Now about those bank owned comps that "don't really matter"...

∙ Listing: 246 2nd Street #1306 (2/2) 1,101 sqft - $859,000 [MLS]
∙ Something Tells Us That “By Far” Wasn’t By Accident [SocketSite]
∙ It's A Good Thing Those Bank Owned Comps Don't Matter, Right? [SocketSite]

Posted by socketadmin at 5:00 AM | Permalink | Comments (73) | (email story)

August 21, 2008

Priced To Sell! Did We Mention Priced To Sell? (250 Clara Street #13)

Perhaps it’s not a perfect apple (“may be larger than tax record shows due to remodel by owner”), but 250 Clara Street #13, a District 9 loft, was just listed for $588,000. Top floor, lots of light, and apparently “pure energy.”

Purchased for $550,000 in December of 2004 and now advertising “priced to sell” (twice).

∙ Listing: 250 Clara Street #13 (1/1.5) - $588,000 [MLS]

Posted by socketadmin at 2:00 AM | Permalink | Comments (46) | (email story)

The Comps They Are A Changing: The Short Sale Of 2924 19th Avenue

Purchased for $1,030,000 in August of 2005, and establishing a new neighborhood comp at the time, 2924 19th Avenue (a single-family home in District 3) returned to the market two weeks ago with a list price of $988,000 and advertising “short sale.” And yesterday, the potential sale became a little shorter as the list price was reduced to $899,000.

Yes, the comps they are a changing. And once again, painting a very different picture of what's happening in the market versus any change in median sales price or even average dollars per square foot for homes sold in the neighborhood over the past three years.

∙ Listing: 2924 19th Avenue (3/2) - $899,000 [MLS]

Posted by socketadmin at 1:00 AM | Permalink | Comments (26) | (email story)

August 18, 2008

Four Years Of District 4 Equity Yet Pre-Foreclosure After Four Months

Purchased for $1,750,000 in May of 2004, 10 Fernwood Drive in Monterey Heights returned to the market almost four months ago asking the same.

Three months ago the list price was reduced to $1,650,000 where it currently stands after having been reduced down to as low as $1,550,000 for a period in between. Still available and advertising “Pre-Foreclosure Opportunity.”

Bets as to whether or not the sale of this "apple" will tell a very different story about what's happening in this market with respect to appreciation (or rather depreciation) versus the trends in median sales price and average dollars per square foot for sold properties in District 4 over the past four years?

∙ Listing: 10 Fernwood Drive (4/3.5) - $1,650,000 [MLS]

Posted by socketadmin at 2:00 AM | Permalink | Comments (90) | (email story)

Buying Two Of Four For Under Five (37 Tioga Avenue)

We’re not buying the “[once] in a lifetime opportunity” or “below market price.” But we are buying the “clean” (and that the garden “needs TLC”). Purchased for $635,000 in February of 2006,