| Little Blue and a Big Blue - | July 11th, 2008 |
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Presenting Two Buildings for sale and for lease from Paragon’s Commercial Division Little Blue When I first saw this photo I thought the building had a great retro-mid century look, until I realized that its all about the royal blue color and the funky arrow above the door. Take those away and this becomes what we kindly call a ‘modest building,’ in a solid mid-Richmond District location. Presently tenant-occupied by “Kirby’s Bar.” There’s a studio in the back where you could live, if you really wanted to, But this place is probably better suited for a developer or “build to suit” guy. Lot is 25X100. Buidling is +/- 1740 sf, Zoned NC-3. Listed for $985,000.
This building is for lease - $25,000 a month. Again, it’s those blue circles stapled onto the front that give it the ‘cool factor,’ along with that big blue marquee. Maybe they’ll throw those matching trucks in with the bargain. Square footage is +/-42,500, divisible. Zoned NCT-3. Scads of covered parking. Corners Mission and Dolores. |
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Big Blue | If You Want A Big Scare. . . | July 11th, 2008 |
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The first one shows the City’s seismic hazard zones. Be patient- it took about 45-60 seconds to download. This map shows areas susceptible to slides as well as where the liquefaction zones are. The second is the USGS Earthquake Susceptibility Map for the entire Bay Area. It’s not as easy to read on a street level as the first map, but it does grade the entire bay area into 5 different zones from very high to very low danger. Deciding whether to buy in ‘earthquake country’ hinges on your attitude and how educated you are on the matter. If earthquakes scare you to death no matter what, you probably shouldn’t buy in the Bay Area- and you maybe shouldn’t live here either. If you are prepared to take the risks of living with the possibility of earthquakes, understanding what liquefaction means and how different kinds of construction respond to it will help you decide where and what you want to live in. We have an earthquake guide that we provide to all our buyers, which has a lot of good information on these topics. I have what many might call an overly laissez-faire attitude towards earthquakes. I’ve lived in the Bay Area all my life and have experienced dozens of tremors over the years, including the 1989 Loma Prieta, which I admit was a near-death experience for me. The aftermath was also frightening, especially in the Marina District, which was essentially uninhabitable for many weeks. For years after Loma Prieta, real estate north of Lombard was a very tough sell. The buildings that suffered the most damage from Loma Prieta were ’soft-story’ apartment buildings situated on corners with garages on both sides. With lots of open space and few walls on the first floor these kinds of structures were highly susceptible to collapse. Some smaller brick buildings were also severely damaged, particularly South of Market. Today, most older buildings at a minimum have bolted foundations, which help keep the structures from jumping off their foundations. Corner buildings in the Marina have also generally been reinforced to prevent collapse. And the City passed a law that required all brick buildings to be reinforced with steel beams. The City also passed stringent new building codes post Loma Prieta, which they further strengthened (no pun intended) after the 1994 Northridge quake. Brick foundations remain a concern– and some properties built before 1906 still have them. I used to see brick foundations all the time when I started selling real estate in 1986. Now they aren’t so common, as owners over time have replaced them with concrete. Others have chosen to cap the brick with concrete, which helps, but isn’t the perfect solution. My last home had a brick foundation and the house I live in now has a mixed foundation of brick, capped brick and concrete. I’m aware that this isn’t ideal and plan on eventually correcting this very expensive problem. I also live in a liquefaction zone, but choose not to lose sleep over it. This may seem naieve, but it’s an attitude I share with thousands of others, who have all decided it’s worth the risk. |
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Following are two links to maps that outline geological conditions in San Francisco.| Foreclosure Relief Bill Becomes Law | July 11th, 2008 |
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Lenders need to get pro-active about contacting owners before they foreclose. The new law requires lenders to contact homeowners to explore options for avoiding foreclosure at least 30 days before filing a notice of default. New owners of foreclosed properties have to clean up their act. It also requires owners acquiring property through foreclosure to maintain the exterior of vacant residential properties. Tenants get extra time. The new law also extends from 30 to 60 days the time for residential tenants to move out of properties that have been foreclosed upon, unless other laws apply. This still doesn’t save tenants who have a lease that extends beyond the foreclosure date, but it will give them extra time to move. These requirements will remain in effect until January 1, 2013. The full text of Senate Bill 1137 (Perata) is available at www.leginfo.ca.gov. Further elaboration is below: - Contact Between Lender and Borrower: Effective on or about September 8, 2008, a lender, trustee, or authorized agent may not file a notice of default until 30 days after contacting a borrower to assess the borrower’s financial situation and explore options for avoiding foreclosure. A lender must generally contact the borrower in person or by telephone, or satisfy due diligence requirements for contacting a borrower. During the initial contact, the lender must inform the borrower of the right to request a meeting with the lender within 14 days. The lender must also give the borrower the toll-free number for finding a HUD-certified housing counseling agency. A subsequent notice of default must include the lender’s declaration that it has contacted the borrower, tried with due diligence to contact the borrower, or the borrower has surrendered the property. A lender who had already filed a notice of default before the enactment of this law must include a similar declaration in the notice of sale. This requirement to contact borrowers applies to loans secured by owner-occupied residences made from 2003 to 2007. Certain exemptions apply if the borrower has filed for bankruptcy, surrendered the property, or contracted with a person or entity whose primary business is advising people, who have decided to leave their homes, on how to extend the foreclosure process and avoid their contractual obligations. - Maintenance of Vacant Properties: Effective July 8, 2008, anyone who acquires property through foreclosure must maintain the exterior of vacant residential property. Violations of this law include permitting excessive foliage growth that diminishes the value of surrounding properties, failing to take action against trespassers or squatters, failing to take action to prevent mosquitoes from breeding in standing water, or other public nuisances. This law authorizes a governmental entity to impose a civil fine up to $1,000 per day for any violation, as long as the owner has been given notice and an opportunity to remedy the violation. A violator must be given at least 14 days to begin, and 30 days to complete, such remediation before a fine can be assessed. - 60-Day Notice to Terminate Tenants: Effective July 8, 2008, a tenant or subtenant in possession of a rental housing unit that has been sold through foreclosure is generally entitled to a 60-day written notice to quit, not just 30 days. However, a borrower who remains on the property after foreclosure may be served a three-day notice to terminate. This law does not affect, among other things, rent-controlled properties with just-cause evictions. Effective on or about September 8, 2008, the lender, trustee, or authorized agent posting a notice of sale must also post and mail a specified notice of a tenant’s right to a 60-day eviction notice from the new owner, unless other laws apply. This requirement to notify tenants of their rights applies to loans secured by residential real property where the borrower has a different billing address than the property address |
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This week, the State Legislature enacted foreclosure reform law to address the adverse effects of high foreclosure rates in California. Here are the details:| SFBlu– | July 11th, 2008 |
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I did a hard hat tour of SFBlu yesterday, with a special focus on the penthouse units on the top floor. There are four of them– ranging in price from $2.65- to $3.5+M. All of them are built on three levels– the top floor is a tiny solarium room that opens out onto a big corner terrace, that can become wonderful outdoor garden, with stunning views towards the bay and downtown. The floor below is the main living level, which has a wonderful spaciousness– there’s enough room for two seating areas and a large dining room table. The lower level has the bedrooms. Here the rooms look a little small, but it’s hard to tell how small (or large) they really are because there’s no furniture and, for the most part, no walls yet– just steel framing. Finishings at SFBlu are, for the most part, exceptional. Nice, thick glass shower doors, high end cabinetry and big floor to ceiling windows. The least expensive units look smack into the side of the AT&T building which isn’t very exciting. The architect has tried to compensate by squaring off each window, to allow for sliver views towards downtown at the front corner or the living room. The upside to these units is that they are very reasonably priced, considering the square footage. Two-bedrooms wit this kind of face are in the mid-800K range for 900+ square feet. For a view away from AT&T, the price jumps up into the $900’s. |
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I wish I knew how to put that little horizontal dash over the ‘u’ in the SFBlu when I type it out. It looks so much better.| The Radiant and Radiating Radiance– | July 11th, 2008 |
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The Radiance is a bit of a pioneer in the Mission Bay neighborhood. Mission Bay is already one of those “build it and they will come” locations, where a total of 6000+ unit is slated for development in the next 5-10 years. About a third of those units are finished or near completion in and around the Berry and King Street. The most established part of the neighborhood is King Street, where the Beacon Condominiums house a Safeway, a Starbucks and a Barnes and Noble. The 170 off Third condos are nearby, running from Townsend through to King Street. Berry Street is also starting to pull itself together with a number of larger condominium and apartment buildings at or near completion. The Radiance distinguishes itself by being in a slightly more remote location south of Mission Creek on Mission Bay Boulevard. Until now the only memorable landmarks in this neck of the woods have been The Mission Rock Cafe and Jelly’s Dance Club. The Radiance will change that with 417 units split among two 16-story towers and two nine-story mid-rise buildings. The Radiance touts itself as ‘family friendly’ with unusually large units that include 3-bedroom town homes which run as large as 1,990 square feet. Prices run from $649,000 to $2,349,000. Some units will have nice views back towards the city, encompassing the length of the skyline and Bay Bridge. Rumor has it that prices may be softening at The Radiance. They took a mess of reservations back when they opened and every one wanted into the San Francisco real estate market, but many of those buyers have disappeared and my impression is that they’ve got lots of inventory to work with. 7/14/08 update - The MLS has just posted two Radiance units: #416, a 2br/2ba with 1802 square feet listed for $1,521,000; and #112, a 2br/3ba with 1844 square feet, listed for $1,799,600. San Francisco’s Redevelopment Agency’s website offers a more comprehensive overview of plans for the Mission Bay neighborhood. /King Street Corridor but the Radiance is the first one located across the Lefty O’Doul Bridge. |
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The Radiance at Mission Bay is celebrating a “Grand Opening” this week, even though their sales office has been open for over a year on King Street, and they’ve had model homes to show since April. | The Artani is Coming! The Artani is Coming! | July 9th, 2008 |
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The banner is going up tomorrow on The Artani, a collection of chic condos offered by Paragon. Here are some basic stats: The location - Eddy and Van Ness. I know that corner sounds a little off-putting, but within 3-5 years you won’t recognize Van Ness Avenue between Market and Post. Upcoming changes and improvements include: A planned greening of the median strip 50+ condos at 75 Van Ness 100+ units at the Galaxy theater site Senior housing at the Kinko’s site 50+ units at the Shell Gas Station site. Hayes Valley Plan also allows 40-story towers at the Avenue’s gateway, at the corner of Market and Van Ness. The buzz about Van Ness is similar to what you heard about South Beach in the mid-90s. Those with vision could see how the neighborhood was going to take shape, and knew to jump in early. Others waited to see it happen before buying there. The Artani is built to standards that anticipate the Avenue’s evolution to one of the City’s hottest neighborhoods. Each unit has floor to ceiling windows to take advantage of light and views (and the views are better than you think). Finishings are upscale, with chocolate hardwood floors, CeasarStone counters, stainless steel appliances and European fixtures. Some units will even include air conditioning. Amenities and common area styling make the building feel like a boutique hotel. There will a doorman/concierge and a landscaped rooftop terrace with water features, private sitting areas and vistas of the City. The units will be one-bedrooms, one-bedrooms plus den, and two-bedrooms. Prices start in the $600,000’s. The sales office is scheduled to open in early September. With the building close to completion, a short escrow is possible and move-ins could happen as early as the first week in October. For more details or a possible early preview, please call 415-577-0809! |
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| Slow Foodies Plant Themselves in Front of City Hall | July 7th, 2008 |
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The turf has been torn up on the lawn between City Hall and the Public Library– and Slow Food Nation invites all comers to help plant the first Victory Garden since 1943 on July 12. Organic beets, lettuce, kale and other heritage varieties of vegetables are planned for gardens plotted by CMG Landscape Architecture. Others pitching in are City Slicker Farms, Ploughshare Nursery and the non-profit Seeds of Change. A rendering of what the garden will look like is on the Slow Food Nation’s website. And all that buttery red lettuce is making my mouth water. |
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| Our Lust for Lists– In Search of the Best Places to Live | July 5th, 2008 |
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Some of Sperling’s lists are commissioned by companies. Keri Lotion wanted a “Best Cities for your Skin” list. At the top was Portland, OR, due to its damp weather, high altitude and chronic cloud cover. When Ambien asked for a “Best Cities for Sleep” list, Minneapolis was No 1 because its citizens had more freedom from job worries and other stress. More obscure “best city” lists are on Sperlin’s website. |
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Bert Sperling, a former software developer, has been making his living for the past 20+ years by creating lists to help people find their own best places to live work and play. He’s a smart man to play on our lust for lists. In our “information overload” era, his little lists of the best places to sleep, travel or raise children offer excellent short cuts to decision-making.| Sell It, Don’t Cell It. | July 5th, 2008 |
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Figuring out basic cell phone etiquette isn’t rocket science. Nevertheless, I see agents using their phones inappropriately all the time, from talking on the phone in a bathroom stall to chattering away during an open house or brokers tour. I have a personal policy of never answering the phone when I’m engaged in face-to-face business. This courtesy is generally extended to personal friends as well. I believe anyone I’m with should know that they are the most important person in my life at that moment. Short of it being a personal emergency, whoever is calling can wait. I also avoid using my phone in public spaces where others can hear me. The author Jonathan Franzen has written about the invasion of privacy in public spaces, when we are forced to listen to someone’s phone call. I can’t say I don’t talk on the phone in public, but I like to think I generally avoid using it in places like the grocery line or when I’m paying a clerk for a purchase. For those who haven’t gotten the message about good cell phone matters, July is national cell phone courtesy month, a celebration begun by Judith Whitmore five years ago. Judith runs etiquette camps in Palm Beach (I could go on a riff about that, but won’t). Here are a handful of tips about how to properly use your cell phone in public– The Person You are with is the Most Important Person To Talk To. This is at the top of any list. Use Text Messaging to Simplify Your Life. I’ve just recently discovered the beauty of text-messages. They are great timesavers and an ideal way to send/receive important information when I’m in a public area. Change the Ringing Tones on Your Phone to Match the Environment You Are In. Never thought of this one. I think it’s directed at those who like to use rap music samplers. Use a loud ring for outdoors – but inside, use silent or vibrating options. I nearly always keep my phone ringer off, mostly because I hate the actual sound of the ring. You can only hear “Fur Elise” so many times. I know I can download something better, but figuring out how doesn’t rank high on my list of things to do. Turn off Your Phone During Public Performances or While In Public Spaces. This one is a gimme– although I would add trains, buses, restaurants and grocery stores. Don’t Engage In “Cell Yell.” Love that term. We all forget that our hands free microphones can pick up even a whisper. But sometimes we can’t help it if we think the reception is going. San Francisco topography makes cell reception a special challenge. I nearly always lose calls on the Bay Bridge, and all good agents know they have to terminate a conversation when winding their way towards Twin Peaks. Reception quality often hinges on your carrier. CellReception.com offers reader reviews of reception quality, according to carrier and neighborhood. Most San Francisco posters agree that AT&T universally sucks– which explains why iPhone users are having trouble talking to people who aren’t as cool as they are. Verizon and T-Mobile seem to get better rankings. |
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A study of real estate clients revealed that sellers and buyers resent their agent having a wireless ear piece stuck to the side of their head while meeting face-to-face with the client. It suggested to the client that the agent was ready to take a call, and that an incoming call would have more importance than the face-to-face conversation with that client. | Some of my Favorite Numbers | July 5th, 2008 |
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511 is a free phone service that consolidates Bay Area transportation information into a one-stop resource. I use it to get traffic information and estimated drive-times. When I call 511, I get an enthusiastic man who sounds like a radio announcer. He offers voice prompts to start conversation. I usually begin by barking “DRIVING TIMES.” Then I answer his questions so he knows what City or landmark I’m starting from and where I want to end up. Then he gives me the ideal route, with estimated drive times and where I can anticipate slow-downs or accidents. 511 also provides schedule, route and fare information for the Bay Area’s public transportation services, and carpool and vanpool referrals, bicycling information and more. 1-800-GOOG-411 is definitely meant for speed-dial, not only because you’ll use it all the time but because it has so many digits and it’s way too hard to figure out that alpha-numeric thing. Also known as “GOOG-411″ its a free information directory that is infinitely better than any 411 you call from any phone. When I call GOOG-411 I get a sleepy man who sounds like a yoga instructor. I usually start my conversation with him by barking “SAN FRANCISCO, CALIFORNIA.” Then I follow his prompts with the name of the business I need to reach. He responds with the name and phone number and then says “I’ll connect you.” If I need an address, I bark “INFORMATION” and he’ll tell me where the place is. (That was very helpful when I couldn’t find Agave Restaurant on Townsend Street the other night– I thought it was near Delancey Street instead of down by the train station.) San Francisco is very proud of its 311 service, but I’ve found it sort of useless so far. I guess it’s a good number to call if you want to know how to handle graffiti, vandalism or a towed/abandoned car, but when I called it the other day to see where I could refer a low-income homeowner for financial counseling, they had nothing to offer. I suspect my request was too sophisticated. It also took the guy a long time to figure out he couldn’t help me. Since then I’ve found the 311 database of information, which I think is a more efficient way to get the answers I need. |
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Following are two numbers I keep on speed dial: They help me get things done fast and easy:
