Brokers USA - Full Service San Francisco Real Estate Professionals - Conservative Pricing

· Another N Judah accident: man dragged to death [N Judah Chronicles]
· City recruits, dresses up Mariachi band for library opening [Civic Center]
· Other sites’ readers get defensive about geography, too [SFist]
· Mr. Floppy’s Flophouse harbors vampires, campers, and hipsters [SFBG]
· City wants to tax cabbies, hike fares, raise unemployment [SFBG]

Broker Blogwrap is Curbed’s irregular roundup from the wild world of blogging real estate brokers. Know about a broker blog we should be reading? Drop a line.

1) Rock & Roll astronauts discuss the benefits of using video in real estate listings. Yes, we said Rock & Roll astronauts …who ride motorcycles. This could be the end of the real estate industry as we know it. Or, a durable trend in RE marketing. [Sellsius]

2) Finding real estate the old fashioned way: by driving through your favorite neighborhoods while stalking stagers. What to look for: Moving vans, double parked cars, desperate pleas to buyers posted in the windows.[SF RE Properties]

3) Looking for some new local Blogs? Redfin’s got some recommendations. Blogging about blogging about blogs. How meta. [Redfin]

4) Some claim that it’s a good time to buy in San Francisco. Reasons: high rental market, low interest rates . . . agree? [Condocontessa SF RE]

5) And some agree— again, those interest rates provide quite the fodder for discussion. [Luba’s SF RE Blog]

[Image courtesy Sellsius]

Situated in an area ripe with potential— within Saitowitz territory and just a couple blocks from the Intercontinental, the Sai Hotel still awaits a new owner. On the market since at least November, this single room occupancy building (SRO) needs that patient someone who is hoping/willing to capitalize on the inevitable gentrification of the area. Might this person be you? If so, you could lord over 44 units that rent at $500. But just for fun, let’s get a first hand account of what it’s like to actually stay in one of those units.

From Mark Ellinger, who works with the Central City SRO Collaborative:

“A very narrow door opened inwards, just missing the minuscule sink attached to the wall opposite the bed. I had to climb onto the bed to close the door, as I was unable to squeeze between the sink and the bed. I had to face the sink from the side in order to use it. The only furniture was a small nightstand at the head of the bed. There was no closet, not even hooks or nails on the walls. The one electrical outlet was dangerously situated in an exposed utility box about two feet above the sink.”

Sounds kind of lousy— even by SRO standards. 964 Howard is zoned as a residential service building— making dwellings and SROs its primary permitted use. However retail, commercial, and arts/ culture programs are allowed as well. Readers, who knows the sketch history that must be tied to this place? (Besides the obvious, that is.)
· 964 Howard [MLS]
· Up From the Deep [website][image courtesy Up From the Deep]

What movie is about to play here at the Gould Theater? Well, anything you want, as long as it fits in with the Real Drama Queens theme.

Today is Thursday so that means it’s time for another dinner/show combo at the Legion of Honor. Last week, we saw Sofia Coppola’s Marie Antoinette along with a packed house. It was a fabulous evening.

The whole concept of is that you can get some food, check out some art and then watch a related film to cap off the evening. Is this a viable alternative to strapping on your Glock “safe action” pistol (for self-defense of course) and then heading on over to the Metreon? You bet it is.

You might not like all the movies shown (some of you are a little picky, it seems), but finding one you want to see (or see again) shouldn’t be too hard. See the movie schedule and check out the photos of all the food, folks and fun, after the jump.

Here’s the mise-en-scene at the cafe. There were lots of people in their 30’s — this is a younger crowd than what the Legion of Honor usually attracts.

You could drop close to $65 for dinner on a white tablecloth if you went whole hog with a wine flight to complement your meal. Or you could have an appetizer and entree for $30. Or you could just nosh on some filling tapas in a more casual environment without spending much at all.

Zesty ginger carrot bisque in the background

Pork tenderloin. Yummers.

And of course you should leave some time to take in the world-class Marie Antoinette exhibit. Some people just come to see the movie and the exhibit without eating.

Check out the details on the Squid List and read a short review on Yelp. See you there!
January 17 Amadeus (1984, 160 min.), the Oscar-winning adaptation of Peter Shaffer’s play about the rivalry between two composers, Antonio Salieri, the Austrian court composer, and Wolfgang Amadeus Mozart. Legend has it, that as a 7-year-old Mozart declared that one day he would marry the young Marie-Antoinette.

January 24 Anne of the Thousand Days (1969; 145 min.) In the unsuccessful quest for a proper male heir, King Henry VIII’s royal love affairs mark the doomed fate of Anne Boleyn (Geneviève Bujold) and usher in the pivotal moment in British history where Henry promises to sign the Act of Succession to insure that daughter Elizabeth will be queen.

January 31 Elizabeth (1998; 124 min) Golden Globe winner, Cate Blanchett, transforms herself into one of history’s greatest monarchs, Queen Elizabeth I.

February 7 Mary, Queen of Scots (1972; 128 min.) This passionate and feisty costume dramas centered on the jealous feuding cousins, Mary Queen of Scotland (VanessaRedgrave) and Queen Elizabeth of England (Glenda Jackson).

February 14 The Adventures of Priscilla, Queen ofthe Desert(1994; 104 min.) The wickedly funny, high-drama trio of three drag-queens (Hugo Weaving, Guy Pearce and Terence Stamp) are en route to perform a drag show in the remote Australian desert.

Curbed Inside visits the interior of a structure with an eye towards revealing its design and architecture. If you’ve got a project you’d like Curbed SF to consider, no matter its kind or condition, email us.

Recent storms exposed a serious stash of construction porn hidden behind Arterra’s top-secret blue wrapper. Major progress has been made on the site since we last visited: Walls are shaping up, as is the cabinetry. Don thy hardhats, and fall in line fast.

We were lucky to catch a room that was lit by a worker’s portable lantern— most of the cabinetry and other fixtures were covered. However, our tour guide gave us a peek just for you.

The rooms are filled with an eerie, blue glow from the exterior wrapping. Some have been walled in thus far, though they’re obviously far from complete.

All of the hallways are jam packed with insulation at this point in time. Just like heaven.

Before and after in the bathroom; the tile work looks hopeful a the moment, though we’re reserving judgment on the entire kit and caboodle until later.

Home construction dropped 25 percent from 2006 to 2007, and has even further to go, say “some economists,” whoever they are. (The Commerce Department. Those economists.) The last decline of this magnitude was in 1980, when the feds attempted to reverse inflation by fiddling with interest rates to post-WWII numbers. Some believe that current housing woes could reach late 1970’s— early 1980’s proportions, when construction rates fell for four straight years. (Recall that recession, anyone?)

In other other financial news, G. Herbie Walker B. and Federal Reserve Chairman Ben Bernanke have shown support for a quick ‘n dirty $100 billion economic stimulus package that would “[put] money into the hands of households and firms that would spend it in the near term.” Though Bernanke has promised to slash interest rates— some expect a full half-percent drop— the deets are to be worked out during a three-way later today between Bush, Bernanke, and so-called Congressional leaders. Holding …
· Home Construction Drops 25 Percent [SF Gate]
· Bush, Bernanke Support Stimulus Package [SF Gate]

[Ed. note: OK, so we got carried away . . .]

That’s Rather Hideous is the report filed by Curbed SF’s own interior design vice squad. Spot an offender? File a complaint— or a compliment. Witness protection guaranteed. Note: As we don’t employ a company sketch artist, digital photos are always appreciated.

At first glance, the above listing photo for 246 Myrtle Street just seemed regular ugly. Antlers on the wall? Check. Weird Egyptian-style table? Check. Multiple animal skins and prints? Triple check. But look closer, there’s more: a set ( for dueling?) of battle axes leaning against the fireplace next to what we’re going to assume is some sort of crystal dragon lamp. This two-bedroom, $529,500 unit is described as “an ideal hide-away.” A hideaway for time-traveling hunters in dire need of someone to stage their apartments, that is.
· $529500 Best priced 2bed condo! Own a piece of Historic SF! [Craigslist]
· 246 Myrtle Street [MLS]

It’s like one of those puzzles you might have enjoyed as a kid; can you spot at least five simple (and cost effective) things that have changed between the following two photos?

2620 Hyde Before

2620 Hyde After

The first is from when the entire property (2618-2620 Hyde) was on the market for $1,850,000, and the second is post sale, remodeling, and re-listing for $2,368,000.

The two units are available as TICs as well ($1,169,000 for 2618 and $1,199,000 for 2620). And in one of those puzzles you might (or might not) enjoy as an adult, 2620 Hyde is also being offered for rent at $6,000 per month (asking not secured).

∙ Listing: 2618-2620 Hyde Street (2/1 & 2/1) - $2,368,000 [2618-20hyde.com]
∙ Listing: 2618 Hyde (2/1) - $1,169,000 (TIC) [MLS]
∙ Listing: 2620 Hyde (2/1) - $1,199,000 [MLS]
∙ $6000 / 2br - Beautiful two-unit Edwardian Home [Craigslist]

Withdrawn from the market last month, 3324 Octavia #4 is back, only this time with zero official days on the market (versus almost 60) and an “original” list price of $749,000.

This one-bedroom condo in the Marina features stainless steel countertops in the kitchen (a look we rather like) and an oversized shower in the bathroom. And yes, a list price that remains $1,000 less than what the sellers paid three and one-half years ago (7/16/2004).

∙ Listing: 3324 Octavia Street #4 (1/1) - $749,000 [MLS]
∙ While One Marina Data Point Closes Escrow, Another Is Withdrawn [SocketSite]
∙ Another Apples To Apples Comp In The Making (In The Marina) [SocketSite]

Purchased for $3,100,000 just over two years ago (10/24/2005), and having recently undergone a major renovation (including the addition of a media room, fourth bedroom suite, and an arched cast stone entryway), 767 Marina Boulevard is now back on the market for $4,950,000.

If you’re seriously interested, there’s a “special evening preview” tonight (from 4-6pm). And no, this shouldn’t be considered an apples to apples comp (key words: “major renovation”).

∙ Listing: 767 Marina Boulevard (4/3.5) - $4,950,000 [MLS]

First and foremost, this home isn’t in San Francisco, or the Bay Area, or even California. It’s in Austin (as in Texas). So what’s it doing on SocketSite? Here’s the two point pitch from the agent:

First, many people migrate between Austin and San Francisco, often due to common high-tech employers, but also because many in the ‘creative class’ consider Austin and San Francisco great places to live. Second, this home’s design and finish-out are amazing, winning an award from the Austin AIA in 2007.

Sounds reasonable enough, we’re suckers for homes built into the side of a hill, and it definitely pays to be polite.

And no, we’re not getting anything for this post.

∙ Listing: 1101 Canyon Edge Drive (3/2) - $649,900 (Austin, Texas) [inspiredaustin.com]
∙ JustQuotes: What’s/Who’s To Blame For “Bad” Building Design In SF? [SocketSite]

It’s a single-family home in Bernal, its list price has been reduced from $950,000 to $889,000, and it’s now advertising “All Offers Will Be Considered Seriously.”

Obviously “considered” isn’t the same thing as “accepted.” So if you’ve taken the time to make an offer that wasn’t “considered seriously enough,” perhaps you’d be so kind as to share (and save someone else some wasted effort).

∙ Listing: 247 Gates (2/2) - $889,000 [MLS]

With an assessed tax value of $474,894 (despite an estimated value of at least $3,250,000), and a yearly tax contribution of only $7,269.58, yesterday’s post concerning the Hugo Hotel quickly turned into a debate over propostion 13 (which we’ll let rage on).

But for those who might be more interested in a discussion about the actual building, we’ll offer up a select few comments to get things started:

“Patel cites the building’s 50-foot height restriction as a way for the city to keep her property’s value low. “It is unfair that I don’t have the same development opportunities as everyone else,” she says by way of explanation for the property’s dilapidated state.”

“They’ve always marketed the building touting it’s high zoning height limit which is just absurd. It’s barely feasible to develop in a sketchy location like that and it gets less feasible the taller the building as your development costs go way up when you switch from wood frame to concrete and steel construction at over 4 stories.”

“The reason this eyesore remains is that David Patel is impossible to deal with. The last time I tried, he said he wanted $50,000 up front to talk.”

“Practically the entire south of market has a 50′ height limit, and it has for decades. Drop all your conspiratorial theories. In fact, the Planning Dept has proposed raising the height limit in that vicinity to 85′.”

And now back to the building in specific (or at least eminent domain in general).

∙ JustQuotes: Eminent Domain For Affordable Housing On Sixth Street? [SocketSite]
∙ Artwork for sale, and so is building [SFGate 9/06]

While the data is significantly flawed, at least for San Francisco being as they excluded condo and new home inventory, it does gather statistics rarely seen, such as ‘Percentage of Inventory with at least one Price Reduction’.

How does SF compare?

• Monthly Average Days on the Market in November = 83 days on the market. The third lowest with 19 out of 20 cities reporting (Phoenix coming in at 78 and San Diego coming in at 75 for November)
• Percentage of drop in Inventory over the past three months = 10.5%. The third highest with Washington DC coming in at 11.1% and Boston coming in highest at 12.4%
• Number of listings with at least one price reduction - again the magic number of 3rd highest with an average of 8.6% increase in price reductions over the past three months (Denver came in 2nd highest at 9.2% and San Diego at 13.3% taking the top honors there).

Again, without condo stats, it’s impossible to get a true picture since that accounts for such a large percentage of the overall housing in our fair city. But it is more fuel for market watchers to debate and worthy of keeping an eye on.

By all reports from the new developments and other random open houses there was an interesting anomoly of increased activity of buyers poking around this 2nd to last weekend of the year. Look for the third week in the New Year to give us at least a few clues as to what the market has in store for 2008. It’s then that we’ll really start to see who’s going to blink first, the Buyer’s, or the Sellers in the age old game of chicken….

However, because realtors are generally considered to have an alterior motive regarding reporting the truth of that; it’s nice to have a ‘neutral’ party come out and say so for a change.

Compiled by Forbes magazine, this is a list of the top 10 best performing Housing Markets in the nation. It shows the third quarter median home sale prices and the percentage that prices have risen compared to third quarter 2006.

Salt Lake City, UT; Median Home Sale Price: $246,700; Percent Change: 14.1 percent
Charlotte, NC, $220,000, 11 percent
San Jose, CA., $852,500, 9.4 percent
San Francisco, CA, $825,400, 8.6 percent
Raleigh, NC, $229,500, 7.5 percent
Austin, TX, $188,200, 7.2 percent
Pittsburgh, PA, $127,700, 6.1 percent
Seattle, WA, $394,700, 6 percent
San Antonio. TX, $154,700, 5.7 percent
Portland, OR., $299,700, 5.2 percent

Source: Forbes, Matt Woolsey (11/21/2007)

The Associated Press: Real Estate Agents Warn About Thieves

Carol Burnett, a vice president at Alain Pinel Realtors, which has 23 offices in the San Francisco Bay Area, said it’s common for brokers in strong markets to send a second agent to high-traffic open houses just to help keep an eye on customers.Agents also ask sellers to help keep theft opportunities to a minimum.

“I never want to see jewelry out on display,” Rochelle Bass, an executive vice president at Bellmarc Realty, another top Manhattan brokerage, wrote in an e-mail.

Other tips: Stash prescription drugs out of sight, even if that means removing them from the medicine cabinet; lock up checkbooks and any sensitive mail; hide items like cameras and watches in a suitcase under the bed.

Stephanie Singer, a spokeswoman for the National Association of Realtors, said sellers posting photos of their homes online might want be careful too. “Make sure the photos are … not highlighting your prized possessions,” she said.

Corcoran’s Liebman said brokers shouldn’t hesitate to confront someone who arouses suspicion.

Well, maybe. I think you’d be better off with a discrete call to 911, though.

Trulia real estate search adds foreclosures - Silicon Valley / San Jose Business Journal:

Trulia Inc. said Wednesday it added foreclosure properties to its online database of residential real estate listings.San Francisco-based Trulia said users who enter their search criteria on homes for sale in any U.S. market will now also get foreclosure information provided through RealtyTrac Inc.

I imagine that foreclosure speculation will be the next wild west frontier of the get-rich-quick scammers in the real estate biz. I also expect that such speculation will be a perfect way to burn yourself into a smoking cinder.

PropertyShark Maps

You may not know this - I didn’t - but Propert Shark offers fire risk maps for many Bay area locations, including San Francisco. Just find your area, click “maps,” and then “hazards.”

Good stuff. Believe it or not, some neighborhoods of SF are classified as “extreme threat.”

SF County saw a decline of only 8.2% in volume of home sales, with an increase in median home sales price of 3.9%.

CBS news reports:

‘Median home values were flat or declined in October compared to the year-ago period in Alameda, Contra Costa, Napa, Solano and Sonoma counties. They were up in Marin, Santa Clara, San Francisco and San Mateo counties.’

Will the sun continue to come out for San Francisco real estate? Good question. I of course have my theory’s but no one knows for sure.

What I do know is that when I moved to Sydney, one of the things I missed most about home, were the foggy San Francisco days. It forces everyone to slow down just a little - everything gets a little more still and quiet and you never know what might emerge from just beyond your vision.

Hope you’re out and about enjoying the fog this misty Saturday morning. I certainly intend to (300 emails behind or no…)