SFnewsletter Week ending June 10, 2005

****SFnewsletter(TM) is a work in progress.  I'm always changing content based on reader feedback.   I welcome ideas, suggestions, complaints, concerns, stories, etc.   There is lots of cool stuff to come.  And please...don't bet the farm off my predictions.****

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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:
In this frenzied market, what is your best way to determine what price you should make as an offer?  My answer, there isn't a good way.   Going off of square footage is only going to make you shake your head and wonder, "How could I possibly be paying $900 square foot for this place?"   Trying to factor in the most recent sales in the area is a gamble too, because the house down the street may have sold for $800,000 with one offer 3 months ago, and the house identical to it, next door, may have sold three days ago for $1,200,000 with 15 offers.   My suggestion, go with your gut.   If you think a place is worth what you want to offer, and you can afford it, then that is what you should offer.

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Maximum Overbid(TM) of the week**:
I didn't even look at the reports this week for this.   I'm going off of a reader tip.   Thanks Eisar!   A higher overbid may exist, but this is pretty amazing.   The address: 869 Alvarado. The Size: 3 bed; 2 bath; 3 car parking; 1920 square feet. The asking price: $679,000. The selling price: $1,500,000.   There is a saying for this.   One man's trash is another man's treasure.  Or something like that.

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Comparison Shopping:
Last week we saw what $75,000 gets you in Lincoln Nebraska, how about $1.5MM?   I kid you not, I couldn't find one property above $1MM in Lincoln.   I searched high and low all over the internet.   How about $679,000 (the asking price on the overbid) in Rome .........Georgia.

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SFhotspots:
-A tip from a reader:   "Roti Indian Bistro.  53 West Portal Avenue.  415-665-7684.   The owners have a sister restaurant in Burlingame.   Great food, reasonable prices and very nice ambiance for a 'neighborhood' spot!"   Thanks Robert.
-Another reader tip:   "On Thursday June 23rd, a cool and very popular Brazilian reggae band will play at the Mezzanine in SF.   You can check Mezzanine's website or www.riopoint.com.   The opening band is a fun local Brazilian band called "Nobody from Ipanema".   It costs $35 in advance.   It should be fun!!"   Thanks Tricia.

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Questions&Comments:
If you have something to say, send it to sfnewsletter@gmail.com.  I randomly post reader feedback here.  Don't worry, you'll be anonymous.  Chances are good that you are not the only person thinking it.

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My Thoughts:
Rain, rain go away, come again in December.

Happy Aloha Friday!

alex

New on Market Report:
link SOLD 05/27/05-06/10/05:
link SOLD 05/13/05-05/26/05:
link