A new San Francisco development, One Hawthorne,  will be opening in Downtown San Francisco in early 2010.  The location is at the corner of Hawthorne and Howard.  Compared to other new developments in San Francisco,  The Infinity at 656 units, One Rincon at 709 units and The Millenium at 419 units, One Hawthorne is a boutique building offering just 165 units. One Hawthorne will have condos ranging from junior 1 bedrooms to 3 bedroom penthouses.

Pricing can only be estimated right now as ranging from the $400,000s to $2,000,000. And pricing will be key. The South Beach and SOMA developments that listened and responded to the market in 2009 were rewarded with plenty of buyers. For example: The Infinity has less than 50 units available after selling an average of 40 homes a month (making it one of the top selling development in the country) One Rincon states to be 80 percent sold out . Other nearby developments such as The Montgomery have only a few unit left for sale.

One Hawthorne is positioned well as an alternative to the larger towers in South Beach and SOMA: Located on a quiet(er) historic block in Downtown San Francisco.  A rooftop garden for residents.  A new restaurant Benu (from the former chef de cuisine of French Laundry) is opening right on Hawthorne Lane. 

As the debate continues on whether or not we have hit the bottom of the market and starting a recovery, the sales at One Hawthorne will be an exciting indicator. It is looking to be a gorgeous development with the best of the city’s amenities. One Hawthorne will a welcome beginning to 2010.

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San Francisco Painted Ladies

San Francisco Painted Ladies

I have been working with a buyer for the past 6 months who wants to upgrade from a condo to a single family home. We all are aware the market has softened and the time is right to make a move.

My client finally found the home of her dreams last month but felt the market had not hit bottom and wanted to wait things out. See if the Sellers would drop their price. Sure enough, another buyer thought this home was their dream home too and made an offer that was accepted immediately. Surprised and disappointed, my client continued her search.

The next dream home surfaced just a week later. The listing agent set an ‘offer date’! (what year is this – 2005?) and would not entertain offers until there had been 2 Sunday open houses. The offer date arrived. Three offers (including ours) were presented. The offer that was accepted was head and shoulders above our offer. The Sellers didn’t even bother to issue a counter. The belief was it is best to accept the top offer than to take their chances in issuing a counter (what if the buyer went away? they felt).

I’ve also seen two fixer single family homes go into contract in under 10 days.

I know we are in a softer market. But it is not a market that can be generalized. The nicer properties, priced well, will go alarmingly fast. My perspective is why wait? If you see a property that fits your needs, write your best offer now. Many times, the first offer in is the best offer. Sellers know that. But even if a Seller does not know that, an agent representing you knows that. Just my 2 cents.

Jenn Davis jdavis@mcguire.com

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Who would have thought that just last year San Francisco was considered #24 as the best place to invest in real estate? Now in 2009, it has moved up to position #6. This is the year for playing it safe, not investing in creative or far flung opportunities.

The City by the Bay has always been a destination city with international appeal. Only 7×7 miles…the traditional rules of supply and demand apply in this gorgeous city of ours.

For investment opportunities, click here for my info or send me an email at jdavis@mcguire.com.

Jenn

299 Santa Paula

299 Santa Paula

Hot Properties for this week, February 10th, 2009

Starting with St. Francis Wood… 

 
 

 

Check out this Mediterrean Villa at 299 Santa Paula! A gorgeous 5Br, 5.5BA, 4 car garage home listed for $5,900,000! This is one of the more stunning homes in San Francisco. You gotta see it!

521 Hill Street

521 Hill Street

 Let’s move to

 
 

 

Noe Valley….521 Hill Street is a well priced 3BR, 2BA Marina style home located on a very desirable block in Noe Valley.  It comes with a lovely south facing yard…great light! At $1,399,000 this is a great deal.

More questions or just curious? Email me…

jdavis@mcguire.com

www.jenndavis.com

Millennium Tower

Millennium Tower

The word is that the Millennium Tower  in San Francisco, located at 301 Mission, just inked a sale for 10.6M! This is apparently a 5000 square foot shell with beautiful views.

They recently slashed their prices by 15% and extended it to their existing buyers in response to the slower market. I wonder if this $10.6M Buyer took advantage of this discount?

www.jenndavis.com

jdavis@mcguire.com

Golden Gate Bridge

Golden Gate Bridge

Check out this Gold Coast home located at 2712 Broadway at Divisadero! This is a lovely 7BR, 5BA home is listed for $7,750,000.  It has spectacular views, grand scale, beautiful rooms, elevator, garden, 2 car parking.  Best of all it was reduced from $9,495,000. This is a stellar home.

 Another home on the list this week is 3355 Pacific @ Walnut. This home is located on the Presidio ‘wall’, a very desirable location.  This has stellar views of the Golden Gate Bridge and the Bay, gorgeous rooms for entertaining, 6BR, 7.75 BA, 2 car garage, elevator – beautiful!  How high will this one go? It is listed for $8,900,000.

The next impressive home is in the Marina at 2646 Chestnut @ Lyon. Timeless updates, 3BR, 2.5BA, FIVE car garage! You can enjoy views of Alcatraz and the Golden Gate Bridge from the top floor of this 3 story home. Listed for $2,700,000.

Buy these homes…you will help the economy recover!

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