| The Buzz Quarterly Marketing Report | April 21st, 2006 |
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So how did the San Francisco market fare in this first quarter of 2006? Well, if neighborhoods were stocks, we’d be calling it a mixed market. Odds are roughly 50-50 that your home went up or down in value depending on where you live. But that’s only in areas where we can tell what’s going on– some neighborhoods don’t have enough activity to offer a measurable number of sales. And even in areas with decent activity, just one sale at an unusually low or high price can skew the numbers. The stats for Mission District single family homes, for example, show a 20% drop in value, but when you pull out two mansions that sold for $2M+ in Q1 of 2005, the average sales price stayed about the same, at just a hair under $850,000. The biggest surprise this first quarter—Noe Valley single family homes, which sold for an average 12% less than they did this time last year. In some ways this drop in value isn’t a surprise– Noe saw some of the highest appreciation in the City during the overheated market last year. Conversely, the ‘view neighborhoods’ right next door—Dolores Heights and Eureka Valley saw a double digit increase in value. Go figure. . . Some other winners were condos in Noe Valley, Pacific Heights and SOMA neighborhoods. And narrow market segments like Miraloma single family homes and Potrero condos held steady, with a small uptick or downtick in either direction. My quarterly newsletter, which covers this information in more detail is going out next week. It includes average sales prices, number of sales and the percentage change in value for over 20 different neighborhoods. If you’re on my mailing list, look forward to your copy. If you’re not on my mailing list, call or email me and I’ll be sure to get one to you. Have questions about values in your neighborhood? Want to know what the place down the street (or down the hall) went for? Call me and I’ll fill you in right away! Hope to hear from you soon— |
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Hello My Favorite People—| Stay Local - And Best Buys In Hidden Neighborhoods | April 10th, 2006 |
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It seems like more buyers are coming out of the woodwork and getting ready to buy this summer. Or maybe I’m just a buyer-magnet. . . Anyway, I love working with all of you and look forward to finding you great homes, investments and pied-a-terres. I’m finding that my open house visitors and listing inquiries are occasionally working with out-of-town agents. Many of these Realtors are top-notch and I appreciate their professionalism. However, I don’t advocate working with someone who isn’t full-time and San Francisco-based. Here’s why: 1. Local Realtors know the inventory. We’re out on Brokers Tour seeing a minimum of 12-15 new listings each week. By looking with our client’s interests in mind we can quickly ascertain which properties are best suited to their needs. We’ve also seen the inside of any listing’s comparable ‘solds’. This extra knowledge enables us to quickly understand which new offerings are the well-priced ‘hot deals’ that our buyers should jump on. 2. Local agents know the neighborhood details. If you’re looking for a condo we can tell you right away which buildings have been subject to litigation and which ones have a reputation for noise transference between the walls. If you’re looking at property in a ‘cutting edge’ neighborhood, we know the ‘hot spots’ where there’s stuff going on that we think you should know about. We also know which neighborhoods are up and coming, with good odds of higher appreciation. 3. Local agents can recommend the right contractors and home inspectors. From adding a garage to figuring out the cost of dry rot repair, we know which inspection companies have the highest credibility and which contractors understand San Francisco’s complex permit process. We can also recommend the best attorneys if you are concerned about land use or rent control issues. 4. A local agent is your best bet for writing a strong offer. A local Realtor with strong professional relationships is like gold for their buyers and sellers. The agent on the other end trusts our reputation for honest and fair dealings, and understands that we are looking out for our client’s best interests. Time and again we beat out our competition because the listing agent knows we can deliver on our promises. 5. We understand the customs of the county. Closing costs are split differently between buyers and sellers in San Francisco than they are in other parts of the Bay Area. San Francisco Realtors are also particular about which forms and boilerplate disclosures are used to craft an offer. Offers that don’t follow local custom can often result in an unnecessary counter offer to clear up the details – and can buy time for another buyer to step forward with an offer. 6. We can respond on a dime. Because we work right nearby our listings, we can do showings on short notice. We can also hustle up and personally deliver and present your offer when there’s a time issue. I practice what I preach. Over the years I’ve bought property in Berkeley, Alameda and Sacramento. While I could have represented myself, I always chose to use a local expert who could navigate me through unfamiliar territory. Each time, I got a great buy and peace of mind throughout the process as they knew how to guard my interests every step of the way and make the escrow period as painless as possible. Want to know the best buys in hidden neighborhoods? Sign up for the “Buzz” and I’ll send out the best properties available in areas other buyers often overlook, along with insider info on market conditions and where the hot buys are each week. See you next week! |
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I’m running late with the Buzz this week. I have a lot of great, new buyers I’m working with and I ran behind on getting this out.| Extra Extra | April 1st, 2006 |
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It’s rare that a piece of real estate makes my heart go pitter-pat. I see new new home projects all the time, but these townhomes and apartments are truly exceptional. I predict that nearly all of them will be sold within 14 days of their release in mid-April. Just take a drive by the building and you’ll see why I think this project is amazing. You’ll find it on the south west corner of Landers and 14th (Landers is an alley street that runs between Dolores and Church.) It’s an imposing building that makes a definite statement. The developer calls the architecture “part Georgetown and part W Hotel.” I call it half Edwardian and half Parisian apartment building with a little New Orleans thrown in. It has tall elegant windows set deep into their frames and little wrought iron balconies. The paint job is terrific—a sort of dark mossy green with a high gloss black trim. The common patio area with symmetrical landscaping and little urns and benches reminded me of an English garden. Inside is just as good. The finishings in the lobby, stairs and hallways make it a cross between a cool museum and the set of The Phantom of the Opera. The walls are a lovely dark putty color and the lighting is provided by sconces that are little beaded chandeliers. By contrast the units are bright and elegant, with tall windows, angled kitchen islands and high narrow bath fixtures that evoke a period styling. The contrast between the darker common areas and the bright chic apartments and town homes creates a wonderful drama. I’d love to come home to one of these places. Have I used enough weird metaphors to describe this property? Are you intrigued enough to want to see it? Just call me and I’ll get you in on an exclusive preview showing before the masses descend upon it during the first Sunday open. Don’t worry if you’re not in the market. This building is such a kick, that it would be a pleasure to show to anyone. I’ll hope to hear from you. Cece Blase |
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My Favorite People:I rarely send a Buzz out right on the heels of another, but I just went to see in person the new Landers Grove condo project I mentioned on Landers Street in the Mission Dolores District. Paragon agents were allowed an exclusive peek this evening. We can start showing our clients the units on Monday.
