http://www.socketsite.com/ San Francisco real estate tips, trends and the local scoop: "Plug In" to SocketSite™ Copyright 2009 SocketSite Fri, 06 Nov 2009 07:00:00 -0800 http://www.movabletype.org/?v=3.33 It appears an apology is in order. Last month a plugged-in reader reported that 300 Sea Cliff had sold for $16,363,569 on 9/10/2009 to which we replied: Sorry, but we don’t think that was a sale but rather a... http://www.socketsite.com/archives/2009/11/the_captains_house_goes_for_to_a_cruise.html http://www.socketsite.com/archives/2009/11/the_captains_house_goes_for_to_a_cruise.html SocketSite Readers Report Fri, 06 Nov 2009 07:00:00 -0800 "Prudential Real Estate Investors is in contract to sell the [mostly vacant 188 Spear Street] to Shorenstein for $170 a square foot [$25 million], a 56 percent drop from the $385 a square foot or $56.9 million that the city... http://www.socketsite.com/archives/2009/11/the_commercial_halfprice_sale_for_mostly_vacant_class_a.html http://www.socketsite.com/archives/2009/11/the_commercial_halfprice_sale_for_mostly_vacant_class_a.html Just Quotes (Emphasis Added) Fri, 06 Nov 2009 06:50:00 -0800 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... http://www.socketsite.com/archives/2009/11/1381_sanchez_redesigned_remodeled_and_double_the_size.html http://www.socketsite.com/archives/2009/11/1381_sanchez_redesigned_remodeled_and_double_the_size.html Listings (for sale) Fri, 06 Nov 2009 06:45:00 -0800 "The unemployment rate in the U.S. soared to a 26-year high of 10.2 percent in October and employers cut more jobs than forecast, underscoring why Federal Reserve policy makers say interest rates will remain near zero." ∙ Unemployment in U.S.... http://www.socketsite.com/archives/2009/11/us_unemployment_at_102_percent_five_tenths_above_san_fr.html http://www.socketsite.com/archives/2009/11/us_unemployment_at_102_percent_five_tenths_above_san_fr.html Trends Fri, 06 Nov 2009 06:30:00 -0800 Down the alley from Villa Taverna and above Aventine, what was once a "bathhouse, saloon, warehouse and denim overall factory" is now the nine condos of 25 Hotaling Place. Originally called Jones alley, the small street that runs between... http://www.socketsite.com/archives/2009/11/25_hotaling_hits_the_web_with_a_bit_of_history.html http://www.socketsite.com/archives/2009/11/25_hotaling_hits_the_web_with_a_bit_of_history.html New Developments Fri, 06 Nov 2009 05:30:00 -0800 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... http://www.socketsite.com/archives/2009/11/not_only_the_eichler_summit_for_999_green_street_2802.html http://www.socketsite.com/archives/2009/11/not_only_the_eichler_summit_for_999_green_street_2802.html Listings (for sale) Thu, 05 Nov 2009 16:30:00 -0800 Augmenting the designs we brought you a year ago, the Draft Environmental Impact Report for 935-965 Market Street (a.k.a. "CityPlace") is now online with all its gory details. The building would be on the south side of Market Street,... http://www.socketsite.com/archives/2009/11/935965_market_street_cityplace_details_to_augment_the_d.html http://www.socketsite.com/archives/2009/11/935965_market_street_cityplace_details_to_augment_the_d.html Neighborhoods Thu, 05 Nov 2009 12:45:00 -0800 From the peek to a poke to the sale of 54 South Park for a reported $3,375,000, we now have the word on 56 South Park, the roughly 2,000 square foot (plus 600 square feet of outdoor space) just... http://www.socketsite.com/archives/2009/11/the_word_on_56_south_park_sold_for_2300000.html http://www.socketsite.com/archives/2009/11/the_word_on_56_south_park_sold_for_2300000.html Bubble (Or Not) Thu, 05 Nov 2009 12:30:00 -0800 231 Franklin, the mixed-use development (32 residential condos over 6,000+ square feet of retail and 36 parking spaces) at the corner of Hayes has started to strip its scaffolding. They’re hoping to be construction complete by the middle of... http://www.socketsite.com/archives/2009/11/231_franklin_starts_to_strip_its_scaffolding.html http://www.socketsite.com/archives/2009/11/231_franklin_starts_to_strip_its_scaffolding.html New Developments Thu, 05 Nov 2009 12:00:00 -0800 Having taken back 57,000 properties through foreclosure in the first half of 2009, "bringing its total real-estate owned inventory to 63,000 properties valued at $6 billion," Fannie Mae is rolling out a "Deed for Lease Program" in the hopes of... http://www.socketsite.com/archives/2009/11/fannie_mae_the_largest_lender_landlord_to_be.html http://www.socketsite.com/archives/2009/11/fannie_mae_the_largest_lender_landlord_to_be.html Industry Stuff Thu, 05 Nov 2009 08:15:00 -0800 Purchased for $950,000 in June of 2007 ($18,900 under asking at the time), 235 Berry #413 returned to the market this past April asking $789,000. Yesterday, the sale of the 1,235 square foot condo closed escrow with a reported... http://www.socketsite.com/archives/2009/11/an_under_600_per_square_foot_two_bedroom_comp_at_235_be.html http://www.socketsite.com/archives/2009/11/an_under_600_per_square_foot_two_bedroom_comp_at_235_be.html Apples To Apples Thu, 05 Nov 2009 06:00:00 -0800 The Senate has approved an extension of the $8,000 first-time homebuyers’ tax credit for homes under $800,000 through April 30; increased the income ceiling for eligibility to $125,000 for individuals and $225,000 for couples; and introduced a new $6,500 credit... http://www.socketsite.com/archives/2009/11/homebuyer_and_a_new_homeowner_tax_credit_approved_by_se.html http://www.socketsite.com/archives/2009/11/homebuyer_and_a_new_homeowner_tax_credit_approved_by_se.html Real Estate Economics Wed, 04 Nov 2009 16:30:00 -0800 As we wrote in March with respect to 270 Castenada: Asking $3,890,000 and briefly in contract before being withdrawn last April [2008], listed at $2,995,000 today. Still touting "too beautiful to describe" despite Maybeck's (and the Vernacular Language North)... http://www.socketsite.com/archives/2009/11/live_in_a_maybeck_and_pay_at_least_25_percent_less.html http://www.socketsite.com/archives/2009/11/live_in_a_maybeck_and_pay_at_least_25_percent_less.html Rentals Wed, 04 Nov 2009 15:00:00 -0800 From the first building in June, to the first palm in August, construction on the Temporary Transbay Terminal keeps chugging along (although a bit behind schedule). Greyhound could be on the scene by the end of this year with... http://www.socketsite.com/archives/2009/11/temporary_transbay_terminal_construction_cam_update.html http://www.socketsite.com/archives/2009/11/temporary_transbay_terminal_construction_cam_update.html Bay Buildings Wed, 04 Nov 2009 10:45:00 -0800 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... http://www.socketsite.com/archives/2009/11/absolutely_stunning_indeed.html http://www.socketsite.com/archives/2009/11/absolutely_stunning_indeed.html Listings (for sale) Wed, 04 Nov 2009 09:00:00 -0800