January 2009


San Francisco Ferry Building

San Francisco Ferry Building

There is so much about banks and businesses going under, layoffs, foreclosures…the list continues.

What about the businesses that are thriving or have the opportunity to thrive in this environment? There are local eateries that are doing well.

Stay tuned for more thriving businesses..

www.jenndavis.com

jdavis@mcguire.com

2005 Buchanan - Two Unit Bldg $995K

2005 Buchanan - Two Unit Bldg $995K

There has been an uptick in open house traffic the past few weeks in San Francisco. I’m hearing from a number of agents that they have been quite busy. They are even ‘running out of property statements’ which is an occurrence that happened frequently in the heated market (that is when so many buyers tour the property that there were not enough statements to go around). What’s going on? Buyers are more curious and perhaps more optimistic that they have a real buying opportunity.

My listing at 2005 Buchanan at Pine in lower Pacific Heights is a 2 unit building that came on the market over the holidays for $1.1M. I recently reduced it $105K to $995K. This Sunday, we had over 40 people through the property. That is a record for this listing! Many buyers were simply checking to see what is out there, the others felt that they need to buy now before everyone catches on that now is the time to buy.

Tell me what you are experiencing out there!

jdavis@mcguire.com

www.jenndavis.com

Marina Homes

Marina Homes

The Marina is one of the more beautiful areas in San Francisco with outstanding views of the Bay. The sales in 2008 supported the desirability of this area.

Sale #1: 767 Marina Boulevard @ Baker. This panoramic view home has 4BR, 3.5BA, 3 fireplaces, decks, skylights and has been extensively renovated. It was listed for $4,950,000 and closed for $4,700,000 after 54 days on the market.

Sale #2: 2427 Bay St @ Baker/Lyon. This is a Mediterranean view home with views of the Palace of Fine Arts. It has 4BR, 3.5BA, and was listed for $3,995,000. It closed on 8/28/08 for and even $4,000,000. Rapid fire marketing period, only 9 days!

Sale #3:  455 Marina Boulevard @ Scott a 3BR, 3.5BA view home.  It sold for $3,900,000 after being marketed for 54 days. The original list price was $3,950,000.

Sale #4:  2015  Jefferson @ Baker. A lovely 4 level home with 4BR and 4BA.  This home came on the market in early January and sold in just 22 days for $3,400,000 off the original list price of $3,500,000.

Sale #5:  827 Marina Boulevard @ Baker. You had to move quick to purchase this home as it sold in 6 days! 4BR, 4.5BA, views of Marin and Alcatraz, why would you wait? It was listed and sold for $2,995,000.

Want to know more? Contact me.  2009 should prove to have very interesting tales of sales.

This information was gathered from the SFAR MLS.

www.jenndavis.com

jdavis@mcguire.com

Presidio Wall

Presidio Wall

Presidio Heights is a very lush neighborhood close to the greenery of the Presidio. It is adjacent to Pacific Heights and Laurel Heights and commands some of the highest real estate sales in the city.

The top 5 sales in 2008 started with,

#1 Sale: 3641 Clay @ Locust. A beautiful 5BR, 4.5BA home with architectural details throughout and a lovely garden. It was listed for $8,500,000 and after 49 days on the market it closed for $8,250,000.

#2 Sale: 3370 Washington @ Walnut, a 5BR, 4.5BA Victorian with 4 levels, spacious interiors, tall windows, deck and more. It was listed for $6,495,000 and the closing price is confidential. It sold in just 35 days so the offering price must have been very attractive for it to close within 5 weeks.

#3 Sale: 3460 Clay @ Locust.  This home has 6BR, 3.5BA that was originally listed for $4,200,000 and closed in February for $3,700,000 after just 10 days on the market.  Very impressive!

Sale #4: 1 Locust @ Pacific. Another home that sold very quickly in only 8 days!  This extensively remodeled 4BR, 4.5BA home offers grand entertaining spaces including a gym and media room. Offered at $5,600,000 and it closed in June for $5,975,000.

Sale #5: 3855 Jackson @ Cherry. Demonstrating the desirability of the Presidio Heights neighborhood yet again, this 5BR, 5BA home sold in 5 days! It was listed for $5,995,000 and closed in May for $5,900,000.

Presidio Heights not only commanded some of the highest prices in the city, it also commands some of the fastest sales.

If you would like more information about the sales in Presidio Heights, contact me.

www.jenndavis.com

jdavis@mcguire.com

Russian Hill

Russian Hill

The #1 top list price in Russian Hill in 2008 was $9,500,000! The property is 2705 Larkin @ Chestnut, a 4BR, 6BA home that was whisked off the market in just 8 days in early February. The closing sales price is confidential as are many on this list but with the speed in which this home closed, one can assume it the offer was high enough for such a quick sale!

The #2 top list price was a Gothic Tudor at 898 Francisco @ Hyde listed for $7,700,000. This very unique home has 6BR, 6.5BA and was on the market for 424 days (a year and 2 months). The Seller had a very strong personality and very creative taste in furnishings and decor. Not for your average homeowner!  Final sales price undisclosed. 

The #3 Top listed Russian Hill home is 2502 Leavenworth @ Francisco. On the market for 87 days for a cool $5,995,000 and closed for $5,500,000. That buys you a gorgeous 5BR, 4.5BA home!

The #4 Top listed Russian Hill home is 1071 Vallejo @ Jones listed for $6,500,000 and closed for $5,300,000. This is also 5BR, 4.5BA and was listed for 663 days.  How long is that? 1.8 years! Patience!

And the #5 top listed home is a 3BR, 3.5BA at 844 Bay @ Hyde. It closed on a auspicious date, 8/08/08 after being marketed for 133 days. It closed at $4,600,000 from a list price of $5,249,000.

This list does not include properties that were not publicly on the market. If you would like to learn more about luxury properties in San Francisco, contact me.

All of this information was gathered from the SFAR MLS.

www.jenndavis.com

jdavis@mcguire.com

Pacific Heights

Pacific Heights

The top 5 residential sales in Pacific Heights in 2008 all took place between the months of May-July. Scott Street was an especially popular location as two of the top five home sales were on this street.  To clarify this list, it includes the top listed properties. A few of these closing prices are confidential and they have to remain confidential.

*Sale #1:  2515 Scott Street @ Pacific, is an 8BR, 11BA home originally listed for $19,750,000 closed for $18,00,000 after 180 days on the market.

And right down the block,

Sale #2:  2504 Scott Street @ Pacific was listed for $14,000,000 and closed for an undisclosed sum is a 6BR, 6.5BA home.  This one was only on the market for 37 days.

Moving along to….

Sale #3:  2663 Divisadero @ Vallejo, a 5BR, 5.5BA home listed for $8,950,000 closed after 35 days on the market also for an undisclosed sum.

and…

Sale #4: 1994 Jackson @ Octavia was on the market for 83 days was listed for $6.995,000. It has 4BR, 5BA, and it also closed for an undisclosed sales figure.

And just for $5,000 less,

Sale #5:  2355 Washington @ Buchanan with 6BR, 5.5BA was listed and closed for $6,990,000 after just 25 days on the market.  This one  got snapped right up!

What would have the sales figures looked like if these homes were put on the market this past October as the financial crisis reared its ugly head? There are some luxury homes on the market right now that I am monitoring.   Contact me  if you would like more detail on these properties.

*This info has been gathered from the SFAR MLS.

www.jenndavis.com

jdavis@mcguire.com

Have we hit bottom in the real estate market? This recent article by Thomas Kostigen says it best. When have we had a more thorough cleaning than right now? We will only know when the market is improving when we look back over our shoulder.  Perhaps this is the best time to buy real estate in San Francisco?

jdavis@mcguire.com

www.jenndavis.com