sfnewsletter BLOG can now be found at www.sfnewsletter.wordpress.com
Monday, March 05, 2007
Thursday, August 11, 2005
SFnewsletter Week ending August 12, 2005
****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
Thursday, August 04, 2005
SFnewsletter Week ending August 5, 2005
****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!****
_____
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:
Same old mierda!
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Maximum Overbid(TM) of the week**:
I think I may have done one of these before, but a reader (thanks Amy) reminded me to do it again. We're going UNDER this week. There aren't many, but they do exist. This property at 758 Clayton is actually really nice. If I had time right now, I'd find out the scoop, but I'll just have to rely on MLS. Three bedroom, 1.25 bath (keep quiet Dimi!!!), one parking space, roughly 1330 square feet, 84 days on the market, originally asking $1,079,000, price reduced to $925,000 in April, finally sold in July for $880,800. I have to honestly say, whoever bought this should be very happy. Getting something under asking is almost unheard of.
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Comparison Shopping:
No comparison this week, because the comments section is kinda long.
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SFhotspots:
Send me your suggestions! I've been out of the loop lately.
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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.
-Yung writes, "I've been hearing a lot of rumbling about Oak Park in Sacramento. This was a booming town in the early 1900's...but was later hit hard by the Depression and WWII. By the late 60's, there were deteriorating housing and commercial property, empty lots and abandoned buildings. I've heard that there is an Oak Park Renaissance, with a lot of money and assistance being pumped into the neighboorhood. Have you heard or know anything about this?"
-----Yung, I don't know anything about this. Maybe someone on the distribution list can shed some light on it for all of us. If you can help Yung out, send an email to yungx@hotmail.com, and cc me.
-Paul writes, "I'm curious about your reaction to today's (7/29) irresistibly alarming story in the SF Chronicle: "Home value declines seen as more likely". If current news cycles remain true to form, perhaps we'll see a contradictory opinion published tomorrow. Or the next day. But in the meantime, the study by PMI seems to have grabbed the latest local spotlight - for whatever it's worth these days. From where I sit, a pivotal question is this: Given the popularity of "objective" studies and surveys as tools to capture news media attention, is this simply a timely way for the PR folks at PMI to nab brand visibility and marketing support for their mortgage insurance business, or does it represent a reliable forecast of things to come? Do you have an opinion?" Paul
-----Paul, Of course I have an opinion, you already got the long version of the reply, but to keep this newsletter short, I'll put the condensed version here. Basically, the market will change...nobody knows when. The media love to hype things up and scare Americans into that group think thing we do so well. Remember 911, Tsunami, Pit Bull attacks, fingers in chili bowls? And PMI probably did get a bit of PR out of the article.
Thank you both for your comments/feedback. There were many replies last week for some reason, sorry I couldn't post all the comments. Keep them coming though. El Dunno, where are you? ;-)
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My Thoughts:
Save a life, use a blinker, turn signal, indicator, arm out the window...whatever you want to call it. It's pretty simple.
Happy Aloha Friday!
alex
Thursday, July 28, 2005
SFnewsletter(TM) Week ending July 29, 2005
****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!****
_____
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:
Same old song and dance. There is a great article by Kenneth Fisher of Forbes magazine. It is called Bubblenomics. You can view his article at www.forbes.com/fisher, but you'll have to sign up and create an account to actually read it. I am not allowed to copy it. It's worth a read, and the account on Forbes.com is free.
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Maximum Overbid(TM) of the week**:
1859 Green in Pacific Heights. Two bedroom, one bath condo with one parking space. Yes it was nice. 1300 square feet, asking $895,000 sold for only $1,200,000. If MLS is correct, it spent a staggering two days on the market. You sense my sarcasm?
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Comparison Shopping:
Forget about what you get for that price, let's knock off about $1,000,000 and see what you can get in Salt Lake City, Utah. All these homes come with a stack of Bibles on your door-step. http://www.wfrmls.com/clients/
The username is: alexclark@gmail.com, password is: rental 2 (notice there is a space before 2!). I'm looking for a rental there. Happy house hunting!
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SFhotspots:
I have searched and searched, but can't find a better chicken salad sandwich than at DelMonte Deli in Potrero Hill. On the corner of 17th and Utah. I've been going there for about 5 years, and it is always top notch, if it's not sold out. Order it toasted on a french roll.
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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.
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My Thoughts:
I don't usually do this (showcase my listings), but if you're looking for a fixer, I have a great one listed...4322 25th Street in Noe. Call me for details.
Happy Aloha Friday!
alex
Thursday, July 21, 2005
SFnewsletter Week ending July 22, 2005
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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 choose to opt-out, I'd appreciate if you tell me your reasoning why, so I might be able to improve the newsletter. 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:
You'd think that since I was out of town the market would slow down, right? When I go away on vacation, everything is supposed to shut down. Not true. I already knew this before, but I was reminded again how insignificant I really am in the grand scheme of things. I put a house on the market the day after I left town. The day it hit the market we received eight offers...literally within hours. Think the market cares that I went out of town? No way. And the market hasn't slowed one bit.
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Maximum Overbid(TM) of the week**:
51 28th Street in Noe Valley. Two bedroom, one bath, two car parking...asking $799,000 sold for $1,100,000. Uhhhhhhh....What?!
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Comparison Shopping:
Since I just got back from Maui, and did a bit of research while I was there, I thought you'd be pleased to know that San Francisco is not the only crazy Real Estate market. Look what you get for $1.1MM at the condos where we stayed. This complex is pretty much ideal Hawaii. The grounds are lush with tropical plants like banana trees, mango trees, avocado trees, lime trees, and of course palm trees. The beach down the path is perfect white sand. The water was 84 degrees and crystal clear. There were three pools, and the geckos ate all the mosquitos. It was pretty much ideal, but if you want to buy one, you're gonna have to pay...a lot!
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SFhotspots:
John Colins, www.johncolins.com, 90 Natoma. Great bar. Cool atmosphere. Great bartenders.
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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.
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My Thoughts:
Da' Feta Mo' Betta!
Happy Aloha Friday!
alex
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