CATEGORY ARCHIVE: RandomRumors
February 4, 2008
RandomRumors: One Rincon Hill Walkthroughs Without An Agent?
A reader wonders about a One Rincon Hill rumor: "From what i heard they are not letting anyone up to go through the walk through unless you are on title."
Another responds: "You can not bring anyone that is not on title. I just went through my walkthrough last Friday and my agent was denied access."
And we’re awaiting an official confirmation (and reasoning behind the approach if so).
UPDATE: While we’re still waiting for an official answer, another reader strongly suggests that this is one big misunderstanding: "The walk-throughs that this person is referring to are the pre-walk through walk through (i.e. not the official walk-throughs with the inspection company)."
UPDATE: Or not: "i don't know what a pre-walk through walk-through is, but they call it the pre-closing walk through and the steps after a pre-closing walk through as listed in my closing check list is closing and key turn over. it does not mention of an official walkthrough after that."
UPDATE (2/6): And we have the official word: "Agents are allowed as the buyers representative. Only parties named on the contract are allowed. This is an aesthetic and informative mechanical orientation of the unit. It takes approximately two hours to go over the finishes and operation of all the systems in the unit.”
∙ One Rincon Hill: Closings, Walkthroughs, And (Almost) Anything Else [SocketSite]
Posted by socketadmin at 4:03 PM | Permalink | Comments (132) | (email story)
October 19, 2007
RandomRumors: The Other Half Of Sunset's Idea House Coming Soon?
According to a non-exclusive tipster (apparently monogamy isn't everyone’s cup of tea), rumor has it that:
"...the larger portion of [the Sunset Idea House] will not finish for 2 more months (final sign off from bldg. dept) but will go on the market any day now for $4mil and that the owner will never get to live in it...The tour will still happen in late November and possession of the house by the new buyer can not happen until 12 weeks after the Sunset first open date."
And yes, at this point it's unconfirmed (see UPDATE below).
UPDATE: Not only is this rumor unconfirmed, but it looks as though it has actually been busted by a plugged-in reader: "This information is completely inaccurate. Sunset tours scheduled to start shortly. house is not on the market and owner will occupy. Your tipster, as usual, is off the mark." And yes, we should have known better.
Editor's Note: Confirmed or not, props to the listing agent for 1303 Alabama for his caption to the listing photo we poached above: "2 unit project...one for sale (1st 2 floors facing)...car in mint condition but not included...."
∙ Sunset’s 2007 San Francisco Idea House: A Few Facts [SocketSite]
∙ The SocketSite Scoop: Half Of The Sunset Idea House Hits The Market [SocketSite]
∙ Sunset’s 2007 San Francisco Idea House: 3027 25th Street [SocketSite]
Posted by socketadmin at 10:00 AM | Permalink | Comments (4) | (email story)
September 26, 2007
RandomRumors And Readers Report: Countrywide Cuts Commence
From a plugged-in tipster: "I talked to my friend who was just let go [at Countrywide]. Seems they're going to go into the direction right now of letting those people go who started after June 11th, 2007. He said company wide so we shall see how it unfolds. Weird to begin letting people go on a Weds as well." And yes, unconfirmed (for now).
∙ From Rumor To Reality: Up To 12,000 Layoffs At Countrywide [SocketSite]
Posted by socketadmin at 11:41 AM | Permalink | Comments (11) | (email story)
September 21, 2007
Not Exactly A Flip, But Possibly A Push, Over At One Rincon Hill
According to a plugged-in tipster, a coveted “02” series two-bedroom/two-bath condo at One Rincon Hill is quietly being shopped by a contract holder.
The 1,300+ square foot unit is reported to have been secured with a non-refundable deposit of $65,000 and at a contract price of $1,595,000. And apparently the contract can be amended to reflect a new buyer prior to close (which we haven’t confirmed).
The asking price? $1,595,000. Or more accurately $65,000 to make the contract holder whole on his deposit. It's a bit different story than a reader reported fourteen months ago, but it's also but a single data point. (And we're at least waiting until after the first wave of closings before drawing too many conclusions on the health of the hill.)
And at the same time, we have been hearing rumors of a rather significant waiting list of buyers willing to pay big money for penthouse units that should happen to fall out of contract prior to closing. Again, unconfirmed (but no real reason to be doubted).
UPDATE: There’s a reason we originally filed this one under “Interesting Opportunities.” If you believe in the building, and like the floor plan, then it is (and as a plugged-in person, you now have the number to call). And if not, at the very least it's another interesting opportunity for some unique insight (into One Rincon Hill) and discussion (about the market).
∙ A Quick Flip At One Rincon Hill? [SocketSite]
∙ What Happens When It’s Time To Fund? We’ll Have To Wait And See [SocketSite]
∙ One Rincon Hill: An Unofficial Update On The Timing Of The Two Towers [SocketSite]
Posted by socketadmin at 4:00 AM | Permalink | Comments (174) | (email story)
September 14, 2007
From “Rumor” To Reality: Charles Phan Coming To The Soma Grand
As a tipster points out, last week the Chronicle officially announced that Charles Phan will be opening a new concept restaurant in the Soma Grand. Of course it was six months ago that plugged-in people were first able to trade on the “rumor”.
∙ It’s All About Service And Style At The Soma Grand (1160 Mission) [SocketSite]
∙ The Soma Grand: The SocketSite Straight Scoop [SocketSite]
Posted by socketadmin at 3:00 AM | Permalink | Comments (8) | (email story)
August 2, 2007
JustQuotes, RandomRumors, And Readers Report: Alt-A All In One
“At this time Wells Fargo...is no longer accepting Alt-A loans. Period. I also have CONFIRMATION that IndyMac is also tightening significantly: http://www.theimbreport.com. I have UNCONFIRMED reports that WaMu, BofA, and Wachovia are also significantly restricting Alt-A loans as of today.
Again, there will ALWAYS be some market for Alt-A and subprime...[b]ut it will be much more expensive to use those products. We are seeing more demand for down payments, more income verification, decreased loan amounts, etc. The days of 100% financing using IO or option ARMs at low rates [are] over. Some lenders will still offer 100% financing, some will still offer option ARMs or IO ARMs... but it will cost more.”
UPDATE: "Rumor modification -- I just checked with my Wells mortgage agent. He hadn't heard that they were no longer offering Alt-A. So I cruised some mortgage broker blogs. The rumor seems to be that Wells is no longer offering Alt-A's to brokers and correspondent banks, reserving them for their own branches instead."
∙ JustQuotes: Forget Subprime In San Francisco, But How About Alt-A? [SocketSite]
Posted by socketadmin at 11:03 AM | Permalink | Comments (62) | (email story)
July 19, 2007
There’s Little That's Little About The Big Sale Of Le Petit Trianon
Le Petit Trianon (3800 Washington) closed escrow last week. And while the contract price was not disclosed, according to a plugged-in tipster it was well over the reduced asking price of $19,500,000 (but ended up including the empty lot next door/behind as well).
∙ 651 Days On The Market And Counting Sold? [SocketSite]
∙ A Little Lot Off The Top At The Top [SocketSite]
Posted by socketadmin at 2:45 AM | Permalink | Comments (0) | (email story)
July 10, 2007
Rumor Busters: Fillmore Center Apartments Going Condo?
A longtime resident of the Fillmore Center writes: “I heard from a realtor that [the Fillmore Center apartments] are going Condo. He didn't give a time frame, but I've lived here for 13 years and no one ever told me a thing about it.” We haven’t heard anything either (and would actually be surprised if it happened). Any plugged-in readers have the inside scoop or a definitive answer?
∙ The Fillmore Center Apartments [1475 Fillmore Street]
Posted by socketadmin at 7:41 AM | Permalink | Comments (7) | (email story)
June 7, 2007
Rumor Has It: Four Offers On The 2007 Decorator Showcase Home?
Rumor has it that four offers were recently written on 2901 Broadway (the 2007 Decorator Showcase Home). Rumor also has it that all four offers were countered at the full asking price ($55,000,000). And that all four offers walked away…
∙ Decorator’s Delight (And Unrelated Architects' Ire) [SocketSite]
∙ Go Ahead And Ask: 2901 Broadway Is Listed (And Priced) [SocketSite]
Posted by socketadmin at 10:20 AM | Permalink | Comments (1) | (email story)
