****JohnColins at 90 Natoma, www.johncolins.com. Happy hour M-F, 5-8pm; $2beers, $3wells and a buck off everything else. Starting in August they will have a full music program, including DJs. Go check 'em out!****
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Welcome:
Hello and welcome to the newest members of the list. I hope you enjoy this newsletter and find its information useful. 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:
Last week was a lesson in Spanish, Ole Chip! This week, I have to comment on the numerous emails I get asking, "When do you think the market will change?" I've said it before, and I'll say it again. I have no idea. All I can do is tell it how it is. See my Maximum Overbid (TM) for a good example of what is still going on.
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Maximum Overbid(TM) of the week**:
I'm sending you the link to my 25th Street fixer. Why? Because it has a good story. It is still not sold, and that would usually lead one to believe that the market is turning. Not the case. When we originally put this beast on the market (for lot value) I was in Maui soaking up some sun and sipping cocktails watching Niko, Sofia, and Curren play in the sand. The day my colleague put this property on Broker Tour, he received an offer, then another, and another, and another...until 8 offers trickled in. My colleague got the property into contract WAY above asking price, and he put a second offer at the same price into back-up position. All I had to do was come home from vacation and collect a check to pay for my trip. Not so. Long story short...I'm at the airport waiting for my bags and the first offer fell apart. The next day after my car broke down, the back-up offer fell apart. Two hours after that fell apart and the property was again listed as "Active" in MLS, we received two new offers and were again in contract above asking price. That deal was shaky, so we kicked those buyers out, didn't panic and put the place back on the market (Active), and decided to market it all over again. We stuck firm to an offer date, which was 8/10, we received 8 offers, and we're now "pending". Translation...in all we've received 18 offers. The offer we accepted yesterday had no contingencies, so we are set to close escrow in 14 days. Knock on wood. Don't you wish I could disclose the price? Not yet.
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Comparison Shopping:
$599,000. What does that get you in Redding, CA? Not too bad . Notice the lot dimensions...333.87x652.51...that is 217,853 square feet. My fixer lot in Noe is about 3100 square feet.
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SFhotspots:
"By the way, tried a great new Thai restaurant around the corner from John Colins (which I stopped in at last night around 9 p.m.). The place is called, Osha at 149 2nd St. T. 415 278-9991. Food, atmosphere all good. Only a few months old - they have another location on 19th & Valencia." L.F.
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Questions&Comments:
If you have something to say, send it to sfnewsletter@gmail.com. Chances are good that you are not the only person thinking it.
-El Dunno writes, "One of my all time favorite things to do as a an evil-Red state inhabiting, GW Bush voting kind of thug is to come home from work open a quality macro-brew (Budweiser), and watch the exploding ..."
----El Dunno's comments after this point are a bit controversial. If you want to hear the rest, send me an email, and I'll gladly send the un-edited version your way. El Dunno, I knew you would come up with something if I called you out! You see, I welcome all feedback.
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My Thoughts:
No report next week. I'll be camping, and Lord help me if there is internet access there.
Happy Aloha Friday!
alex
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