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.


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?

Today’s Chron article sums it up well. San Francisco is feeling the pain of the real estate meltdown. It’s now the buyer’s turn.  While we all want to find out if we have hit bottom or not noone will ever really know until we start climbing back up. This softening may last a few more months or well into 2009. Either way those that buy now have the best chance to invest in property at a discount. My two cents….look now for a home. One is bound to capture your eye and you will likely get it at a price lower than you would last year at this time.

It is safe to say we are in a buyer’s market in San Francisco. There are a few buyers out there aggressively looking for that right home. Other buyers are sitting on the fence. Is the market going to decline further? Or has there been enough softening to indicate that there is value in purchasing a home today?

Time is on one’s side whenever a real estate purchase is made. This recent NYT article  sums it up well. Ten years from now we will look back at this period as the golden age to purchase real estate. 

Talk to your lender/mortgage broker. Find out what you can qualify for.

There is an opportunity for home buyers today. Mortgage rates are dropping. Prices are more flexible. San Francisco will always be a destination city. We will come out of this financial upheaval and those buyers that are aggressively looking for property will come out ahead.

San Francisco’s South of Market is rapidly evolving into a hot neighborhood.  As quoted in today’s San Francisco Chronicle, ‘South of the Slot’ was the original name of this industrial area located on the wrong side of the cable car tracks.  Today over 50 residential projects have been completed and many of the buyers are in high tech or finance.  What can explain the growth of this area in spite of the housing woes across the country? 

Richard Florida, author of ‘The Rise of the Creative Class’ has recently come out with the book “Who’s Your City?” This book is also covered in this recent SF Chronicle article. He states that it is the creative class that has driven our economy. San Francisco and Silicon Valley are home to some of the most brilliant entrepreneurs, scientists and artists.  Florida’s argument is that it is where you live that fuels this kind of creativity which is counter intuitive to our growing global economy.  One may believe that we can remain connected and productive anywhere in the world thanks to the internet, but ‘megaregions’ such as the Bay Area are central to this kind of innovation.

I recently read ‘Bowling Alone – Collapse and Revival of the American Community’ .  He writes in depth about the decline in social networks that tied communities together such as bowling leagues, church outings, monthly picnics and more .  People are feeling disconnected from their families and communities and the impact is a decline in education, creativity, and our overall happiness.  Perhaps the draw to the new and improved ‘South of the Slot’ aka ‘SOMA’ is the pull of social connectedness in a community that fosters creativity. I look forward to the new residents of this neighborhood.