SFnewsletter Week ending May 27, 2005

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Welcome:
Hello and welcome to the newest members of the list.  To opt-out, either email me at sfnewsletter@gmail.com, or click on the "unsubscribe" button below.  If you know anyone who would like to be added to this distribution, they must opt-in by emailing me.  For RECENT SALES/LISTING ACTIVITY (COMPS) CLICK ON THE "NEW ON MARKET" AND "SOLD" REPORTS BELOW.*

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Market Update:
Just when you think things couldn't get any better for San Franciscans cashing in and moving onwards and outwards, they do.  Maybe it has something to do with our location. (In case you didn't know, you can put your cursor over the Google map and click and drag literally all the way across the country.)   Notice anything?  We are surrounded by water on three sides.   There is nowhere to build, but up, and the City isn't allowing that in most parts of town, so now what?  It certainly isn't the weather that brings people here.  San Francisco's average temperature hovers around 62 degrees fahrenheit, maybe less (this factors in all months), and it's always windy.  But some people love that.  Compare our map with that of NYC.  They are surrounded by water on four sides.  So what did New York do?  They built up, and prices followed.  I guess it helps not to have the next "BIG ONE" waiting in the wind when you want taller buildings.  Now look at Phoenix.  Surrounded by land on all sides, they have tons of area to expand outward, so prices remain relatively low, until the builders catch up with demand and keep the market in check. So until the 8.0 quake hits California and Phoenix Beach has the best barrel this side of the Mississippi, don't count on prices to go anywhere but up in San Francisco. 

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Maximum Overbid(TM) of the week**:
How is this for marketing...?  "This is not a cute or cosmetic fixer upper.  This small house needs serious help.  No inspection reports due to condition."   Ridgewood Avenue in Westwood Highlands.   Two bed, 1 bath, 888 square feet, asking $410,000 sold for $703,000.  What can I say.   I'm seriously speechless. Here's a link to the property description.

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Comparison Shopping:
Sticking with our water theme (can you tell I haven't surfed in a while) let's jump on over the pond, shall we?  At today's exchange rate $700,000 USD equals roughly L382,000 British Pounds.  Pickins are pretty slim over there too, but at least it doesn't "need serious help".

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SFhotspots:
If you have children under 8 years old, and need some cool clothing and gear for them, check out Beleza at 1947 Union Street. They have some pretty cool stuff. Tell them Alex sent you.

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Questions&Comments:
If you have something to say, send it to sfnewsletter@gmail.com.  You're probably not the only one thinking it.

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My Thoughts:
Where's D, Wardo?
Happy Aloha Friday!

alex