We are done with 2009. What’s behind us? In the fourth quarter ’09 the real estate market began to recover from the trauma of the financial market fallout that began in 2008. The quantity of homes and condos sold increased 5% over last year which ends a four year decline. Prices still were down however there are signs that there is competition in the marketplace again as properties sold closer to their asking price in Q4.  But talk to people that have been writing offers in 2009 and you will find many stories of buyers having to write *over* the list price to get the home.

I have detailed neighborhood reports for all districts in San Francisco. Shoot me an email and I will send it to you!

jdavis@mcguire.com

Jenn

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The buying opportunities abound in San Francisco and condo shopping sprees are on the rise! This month, a tour of 40 executives from China will be ascending San Francisco, Boston, New York and Los Angeles in search of a sweet deal.  I’d bet this is the first of many trips.  Is this the sign of things to come? Does this mean we are at the bottom and the market is about to move up?

Avram Goldman, CEO of Pacific Union, posts recently that things are getting better all the time. I still hear about multiple offers on well priced homes. That is the key, a realistic seller and a motivated buyer. This market will flesh them out.

Buyers out there, keep looking seriously.  We won’t be in this market forever.

www.jenndavis.com

jdavis@mcguire.com

Alan P. Mark of the Mark Company will be speaking to the South Beach Rincon Hill Mission Bay Neighborhood Association about how the South Beach Mission Bay neighborhood has changed, how the economy has affected the various developments/projects in the area including the Infinity, and about the launch of the second Infinity Tower.
 
When:  Monday, February 9th 6-7PM. Please email me if you are interested in attending!

jdavis@mcguire.com

www.jenndavis.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

The American Planning Association voted North Beach to be one of the 10 Best Neighborhoods in San Francisco. Wow. It is one of the most vibrant neighborhoods with a strong community base, gorgeous architecture and noone can ignore the myriad of restaurants, pubs, and coffee shops. You can start your day by having breakfast at one of the tasty Italian bakeries and end your day with a nightcap at Tosca (where you may be lucky enough to rub elbows with the likes of Sean Penn).

 So what is the real estate like in North Beach?

According to recent stats on the San Francisco MLS, 46 condos have sold in North Beach since January ’07 at an average sales price of $828,000. North Beach is selling at 100.65% of the original list price.  The average sales price in ’06 was under $800,000. Not bad. Slump?

I welcome your comments on what it is like to live in North Beach!

www.jenndavis.com