Brokers USA

RE Speak: "Cool Conversion" in SoMa's Jackson Brewery

Tue, 19 Aug 2008 13:40:10 -0700

The listing for 1489 Folsom Street #2C calls the Jackson Brewery loft "cool and hip," which, in RE parlance, is code for "SoMa warehouse conversion" and "exposed brick." Oh but how we do like exposed brick. Especially here on the balcony with a view looking out over a "courtyard" that has all the charm of a loading dock. And although quite small at only 650 square feet, the one bedroom unit has undergone a "clean, contemporary" renovation. Asking: a (relatively) affordable $589,000.
· 1489 Folsom Street #2C [MLS]

Not much else I can say about it...

Tue, 19 Aug 2008 13:39:34 -0700

Home prices plunge; foreclosures boost sales

Bay Area home prices plunged to a 53-month low in July as a brisk business in foreclosed properties depressed prices and buoyed sales volume, according to a real estate report released Tuesday.

The median price for both new and resale homes and condos stood at $470,000, down 29.3 percent from a year ago, according to MDA DataQuick of San Diego. The last time the median was lower was in March 2005, when it was $469,500. For resale homes, the median was $485,000, a 34.3 percent drop from last July.

A full 33 percent of all resale homes were foreclsoed properties, which banks generally sell at a discount - further depressing prices in the vicinity. In July 2007, just 4.2 percent of existing home sales were foreclosed properties.

The highest percentage of foreclosed sales was in Solano County, where two-thirds of all resold homes were foreclosures. The lowest was in San Francisco at 4.6 percent of existing-home sales.

A total of 7,586 new and resale houses and condos changed hands in the nine-county region in July, up 2.2 percent from a year ago. For resale homes, a total of 5,585 sold, up 11.9 percent from a year ago.

555 Mission Rock: Yesterday, Today And Tomorrow (And A Recap)

Tue, 19 Aug 2008 08:15:29 -0800

The quick recap for 555 Mission Rock in south Mission Bay: 192 apartments ranging in size from 650 to 1,300 square feet (and 10,000 square feet of ground floor retail). Development by Urban Housing Group, design by SB Architects,...

The Hayes (55 Page): Current Pricing, Incentives And A Reduction

Tue, 19 Aug 2008 08:00:33 -0800

Current list prices for The Hayes (55 Page) above. And while developers do prefer to offer “incentives” (currently “up to” $25,000 at The Hayes, up from $20,000 in March) rather than to lower prices (it helps hide any reductions...

A fine effort

Mon, 18 Aug 2008 07:57:56 -0700

I always like to point out an agent's effort to stand out in the crowded market place by offering something a little different. Ron Park's of Vision Real Estate here in the City as well as in Marin does a fine job of doing just that....

The Vision Report - Ron Parks from Jeff Brooks on Vimeo.

The Donald to the resuce

Fri, 15 Aug 2008 12:31:48 -0700

Sometime back I mentioned that Ed McMahon was about to lose his home to foreclosure... Like the Lone Ranger himself, The Donald has come to the rescue... Call it an investment or a PR move, but I can tell you I had plans to save the man for the being thrown out on the mean streets of LA... Props to the Donald..

It's "The Donald" to the rescue.

Mega-developer and TV personality Donald Trump has agreed to buy Ed McMahon's Beverly Hills house for an undisclosed amount and allow McMahon to continue living in it. Details of the deal are still being ironed out.

"I don't know the man, but I grew up watching him on TV," Trump said in an exclusive interview with The Times.

McMahon, 85, was facing foreclosure within two weeks on his Beverly Hills home of 18 years. The aging television icon, who was Johnny Carson's sidekick for three decades, defaulted on $4.8 million in mortgage loans with Countrywide Financial Corp. He said in interviews that he was unable to work because of a neck injury that occurred about 18 months ago.

Click here for the complete story from the LA Times...

Jones Lang LaSalle Hotels arranges $13.6-million construction loan in Atlanta

Wed, 13 Aug 2008 21:00:00 -0700

On behalf of Stevens Creek Developments, Jones Lang LaSalle Hotels is pleased to announce they have arranged a $13.6-million construction loan in connection with a planned 154-guestroom Sheraton Hotel to be built in Augusta, Georgia.

Pfizer moves to Mission Bay

noreply@blogger.com — Mon, 11 Aug 2008 01:06:35 -0700

It’s a good sign for all the new developments in Mission Bay that Pfizer just announced the corporate headquarters for their Biotherapeutics and Bioinnovation Center are moving from South San Francisco to the Mission Bay.

"This move to be next door to U.C.S.F.'s Mission Bay campus will position Pfizer's Biotherapeutics and Bioinnovation Center for success in the aggressive pursuit of the most exciting and innovative science and the recruitment of the very best scientists," said Corey Goodman, Ph.D., President of the Pfizer Biotherapeutics and Bioinnovation Center.

Our mayor Mr. Gavin Newsom is quoted in classic politico speak as saying that it is ‘…a clear indication that Mission Bay is one of the nation’s premier life science centers’ and I for one hope that turns out to be true. More people to support some of my favorite arts, the Ballet, Symphony and Opera, plus interesting intelligent clients to work with, count me in.

Assuming Pfizer becomes the first of many 'anchor tenants' if you will ….the question becomes what buildings will emerge as the front runners in the Mission Bay development housing game? My early money is on Esprit Park. New idealistic developers, run by an experienced, detail-oriented agent who knows what sells and what is the ‘right’ thing to do. Great location - across from a park and a block from a Blue Bottle Coffee serving Café…a short decent walk to Potrero shops and Café Mama – I endorse. Ok so they are a bit ‘off’ on their delivery dates. You cant rush perfection – let’s hope it is perfect by the time it’s done.

I looked but was unimpressed with my preview of the Radiance (warning irritating music on web site), - but they do throw a great party. With the exception of the water facing units, which will be nice, and rare in their own way, the building felt too….I dunno…vanilla. The fire pit overlooking the water was also a possible serene outlook, but a little too open to all the other units for my liking – nice to overlook I suppose if they keep it lit.

Sometimes it’s hard to tell what a building will shape into until it’s occupied. My worst bet early in my career was pooh poohing the Oriental Warehouse - which although the sound transferrance is abysmal - has maintained some impressive resale values and continues to be one of the most highly sought after South Beach conversion loft buildings.

I’m also hearing good initial responses from the Arterra (see note about music on the Radiance) – it ‘smells nice’ which counts for much in this world of toxic building and chemical sensitivities. I’m thinking despite the location that building will also hold it’s value in years to come.

I’m starting to like the look of Mission Bay, and may I say it’s been a L O N G time coming….let’s see what happens. Biotech Alley…urban density and a cure for cancer - how can it be a bad thing?

Feng Shui for Architecture Design and Environment

noreply@blogger.com — Sun, 10 Aug 2008 13:46:07 -0700

Feng Shui often gets a bad rap among conservatives, mostly in my opinion, for good reason. The little chimes and Ba-Gua's most people use are nothing more than superstition, although the information they attempt to mimic is rooted in science that has been studied....well, for a long long time.

Why did I start to pay attention to Feng Shui? Because as a real estate agent, I noticed, after a while - that certain properties, seemed to go on the market every year or two, repeatedly. To me that was an indication that for whatever reason, it was impossible for the occupants to get comfortable and settle in.

Even within the same Condo complex, certain units will constantly change hands while others stay settled - and that is true even for units with identical floor plans and finishes. Unit 1 will change hands 3 times in a five or seven year period, while Unit 2 (same floor plan flipped) stays put for years.

I have a confession, I have not yet had my home 'Feng Shui'd' if you will. The reason is simple, a Feng Shui master is expensive and VERY hard to come by which is why the true masters end up working for the high end homes and corporate clients.

If you are interested in learning a little more my favorite web site is maintained by an architect friend of mine, Simona Mainini, located in LA county. For most people flying her up to consult on their home will be too cost prohibitive, but her newsletter is free and full of interesting facts and information.

FengShuiArch.com

For those who are just curious, like myself...