http://www.socketsite.com/ San Francisco real estate tips, trends and the local scoop: "Plug In" to SocketSite™ Copyright 2009 SocketSite Fri, 20 Nov 2009 12:00:00 -0800 http://www.movabletype.org/?v=3.33 Banking on appreciation with little skin in the game ($33,000 on a $963,000 purchase); little in terms of reserves; and counting on income from the upper unit of the Hayes Valley duplex to subsidize low carrying costs thanks to "rock-bottom... http://www.socketsite.com/archives/2009/11/its_deja_vu_all_over_again_this_time_thanks_to_the_fha.html http://www.socketsite.com/archives/2009/11/its_deja_vu_all_over_again_this_time_thanks_to_the_fha.html Seemingly Random Fri, 20 Nov 2009 12:00:00 -0800 The Planning Department's draft Transit Center District Plan for the rectangle bounded by Market, Steuart, Folsom, and mid-block between 3rd and New Montgomery is now online. The plan's five Core Goals: 1. Build on the General Plan’s Urban Design... http://www.socketsite.com/archives/2009/11/san_franciscos_draft_transit_center_district_plan.html http://www.socketsite.com/archives/2009/11/san_franciscos_draft_transit_center_district_plan.html Neighborhoods Fri, 20 Nov 2009 07:30:30 -0800 Preliminary October labor force data counts for San Francisco, Marin and San Mateo counties puts the unemployment rate at 9.9%, 8.1% and 9.1% respectively, up 0.2 percentage points in San Francisco and up 0.1 percentage points in Marin and San... http://www.socketsite.com/archives/2009/11/san_francisco_county_unemployment_up_to_99_percent_in_o.html http://www.socketsite.com/archives/2009/11/san_francisco_county_unemployment_up_to_99_percent_in_o.html Trends Fri, 20 Nov 2009 07:30:00 -0800 The sale of 82 Ellsworth on the South Slope of Bernal Heights closed escrow yesterday with a reported contract price of $855,000 (asking $899,000). Purchased in April 2005 for $975,000, it's a 12.3% drop in value below its 2005... http://www.socketsite.com/archives/2009/11/into_the_bernal_heights_apple_cart_for_82_ellsworth.html http://www.socketsite.com/archives/2009/11/into_the_bernal_heights_apple_cart_for_82_ellsworth.html Apples To Apples Fri, 20 Nov 2009 06:15:00 -0800 According to DataQuick, recorded home sales volume in San Francisco jumped 33.6% on a year-over-year basis last month (553 recorded sales in October ’09 versus 414 sales in October ‘08) and rose 3.2% compared to the month prior. San... http://www.socketsite.com/archives/2009/11/san_francisco_recorded_sales_activity_in_october.html http://www.socketsite.com/archives/2009/11/san_francisco_recorded_sales_activity_in_october.html Trends Thu, 19 Nov 2009 10:00:00 -0800 While subprime adjustable-rate foreclosures starts dropped in the third quarter of 2009 (from 5.52 percent to 4.92 percent), both the number and pace of FHA backed and prime fixed-rate mortgage defaults climbed. One out of every six FHA mortgages was... http://www.socketsite.com/archives/2009/11/us_but_not_da_prime_and_fha_mortgage_defaults_climbing.html http://www.socketsite.com/archives/2009/11/us_but_not_da_prime_and_fha_mortgage_defaults_climbing.html Trends Thu, 19 Nov 2009 09:30:00 -0800 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... http://www.socketsite.com/archives/2009/11/2100_vallejo_two_years_and_a_46_percent_drop_in_expecta.html http://www.socketsite.com/archives/2009/11/2100_vallejo_two_years_and_a_46_percent_drop_in_expecta.html Listings (for sale) Thu, 19 Nov 2009 07:00:30 -0800 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... http://www.socketsite.com/archives/2009/11/new_year_and_perhaps_market_motivations_atop_nob_hill.html http://www.socketsite.com/archives/2009/11/new_year_and_perhaps_market_motivations_atop_nob_hill.html Listings (for sale) Thu, 19 Nov 2009 07:00:15 -0800 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... http://www.socketsite.com/archives/2009/11/a_resale_one_joins_the_two_at_seventy_four_new_montgome.html http://www.socketsite.com/archives/2009/11/a_resale_one_joins_the_two_at_seventy_four_new_montgome.html Listings (for sale) Thu, 19 Nov 2009 07:00:00 -0800 As we wrote two weeks ago: Still listed on the San Francisco Association of Realtors' MLS last week as an "active listing" despite a plugged-in reader's report that it had actually sold at foreclosure auction two weeks ago, today... http://www.socketsite.com/archives/2009/11/the_21512157_green_street_almost_full_circle_scoop.html http://www.socketsite.com/archives/2009/11/the_21512157_green_street_almost_full_circle_scoop.html Bubble (Or Not) Wed, 18 Nov 2009 14:45:00 -0800 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... http://www.socketsite.com/archives/2009/11/297_cresta_vista_drive_as_once_again_new_according_to_t.html http://www.socketsite.com/archives/2009/11/297_cresta_vista_drive_as_once_again_new_according_to_t.html Listings (for sale) Wed, 18 Nov 2009 11:00:30 -0800 "Residential construction in the U.S. unexpectedly dropped in October amid concern a homebuyer tax credit would expire [but didn't], illustrating the market’s dependence on government help to sustain a recovery as job losses mount." ∙ U.S. Economy: Homebuilding Drops as... http://www.socketsite.com/archives/2009/11/the_unexpected_drops_spread_to_residential_us_construct.html http://www.socketsite.com/archives/2009/11/the_unexpected_drops_spread_to_residential_us_construct.html Trends Wed, 18 Nov 2009 11:00:00 -0800 "A shortage of funds has prompted UC Berkeley to abandon its plan to construct a new Berkeley Art Museum and Pacific Film Archive downtown. The building, a distinctive and innovative design by Tokyo architect Toyo Ito estimated to cost... http://www.socketsite.com/archives/2009/11/berkeleys_plan_for_toyo_ito_architecture_falls_prey_to.html http://www.socketsite.com/archives/2009/11/berkeleys_plan_for_toyo_ito_architecture_falls_prey_to.html Just Quotes (Emphasis Added) Wed, 18 Nov 2009 08:15:00 -0800 Asking $3,747,500 ($1,453/sqft) when it first hit the market two years ago, a plugged-in tipster notes that the three-bedroom and 2,580 square foot Ritz-Carlton Residences #1102 closed escrow on 11/3 with a reported contract price of $2,100,000 ($814/sqft). It... http://www.socketsite.com/archives/2009/11/putting_on_the_ritz_at_44_under_original_list_and_813_p.html http://www.socketsite.com/archives/2009/11/putting_on_the_ritz_at_44_under_original_list_and_813_p.html Bubble (Or Not) Wed, 18 Nov 2009 08:00:00 -0800 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,... http://www.socketsite.com/archives/2009/11/2342_broadway_returns_anew_green_and_asking_14000000.html http://www.socketsite.com/archives/2009/11/2342_broadway_returns_anew_green_and_asking_14000000.html Listings (for sale) Tue, 17 Nov 2009 10:30:00 -0800