www.sfexaminer.com >> Local News
Rental prices for apartments in The City, which had been skyrocketing for nearly two years, fell in October, as an avalanche of pink slips across San Francisco weighed on average household incomes and led freshly unemployed workers to abandon city living, new figures show.

The average rent for a one-bedroom unit advertised on craigslist.org fell 2.4 percent in one month to $2,293, according to the city controller’s October economic barometer report, released this week. That price, however, was still 3.7 percent higher than at the same time last year.

San Francisco rents started falling in October and continued to fall in November, according to Victor Calanog, senior economist at national research firm Reis Inc.

OMG. What is going on here?

If this isn’t a sign of the apocalypse, I don’t know what is.

No no… the world is not ending. This is clearly just a blip. I think the real reason is that renters are flocking out to buy up some of those sweet deals in Redwood City, Manteca, and other places.

Yeah. That must be it.

It’s rare that Burbed gets email from the owner of a property that is publishable. Here’s one about a recent posting.

First, the property:

How much does a garage cost in San Francisco these days?

CleanOffer
13 Lucky St
San Francisco, CA 94110
Price: $499,000

http://www.burbed.com/wp-content/uploads/1443093293_13lucky.jpg

And now the letter:

Glad you’ve all enjoyed commenting on our property. I’m sure things are slow and you’ll want to look busy, that is if you still have a desk at which to look busy.

However, 13 Lucky Street is far from a loser. And it’s large size qualifies it to be listed as a small warehouse.

13 Lucky is currently listed at $399K. It is variance-approved for one, SFH occupying the entire footprint of the existing building. It is not currently a SFH.

I have recently spoke with a builder who estimated a cost of $130-$170/sq foot to build, so at approx 2000 sq ft, you’d be closer to, say, $700K total for a BRAND NEW, custom built residence. the city has approved the building mass and we are moving ahead with plans for construction.

Owner financing is available as well.

Please contact me for any further enlightenment at davee (at) got (dot) net

Thanks!

175 Lucky San Francisco, CA 94110
Price: $499,000

Beds:     2
Baths:     1
Sq. Ft.:     -
Lot Size:     -
Property Type:    Single-Family Home
Style:    Victorian
Year Built:    1908
Region:    San Francisco District 9 (Central East)
Area:    Inner Mission
County:     San Francisco
MLS#:     346612
Source:     San Francisco MLS
Status:     Active
On Redfin:     80 days
Victorian starter Home (c. 1908)on a quiet block in the colorful and sunny inner mission. Wood floors+High ceilings+loads of light- Private Garage w/ laundry+storage in basement. Small lot-dog run out in the back. Newer kitchen with updated appliances/countertops/cabinets. Also, remodeled Bathroom w/ kohler fixtures.

Thanks to Burbed reader Brendan for this find.

Yes. Another pink house. Yes, I’m obsessed with them, and Tenafly, NJ. The myth continues.

Frankly, my favorite aspect of this house is the grittiness of the staircase and the garage. It really makes me feel alive. It’s like your living in the hood, but not at the same time. Pretty cool!

I also like the Ikea/Cal color scheme of the house next door, and the split pea soup house on the other side. Another perk - interesting neighbors!

Can’t lose!

Sunnydale Ave, San Francisco, CA 94134 MLS# 80817316 - Property Details
$728,000

* Status: Active
* Bedroom: 4
* Bathroom: 2
* Year Built: 1960
* Lot Size: 1794
* Square Footage: 1984
* List Date: 6/23/2008

* Garage Spaces: 2
Well maintained good income property can be easily turn into owner occupy house. 3 bedroom 2 bath upstairs with additonal 2 bedroom 1 bath down. Upstairs rent for $2000 per month, lower unit $1,200 per month. Close to public transport including light rail, muni and caltrain, 1 minute to freeways 101 & 280. Weekend showing only, must make appointment with listing agent to show.

The myth that I’m obsessed with Pink Houses and Tenafly, NJ continues. Thanks to Burbed reader Herve for this find.

Frankly, I think this is exciting more for the fact that you can earn $3200 a month, than the fact that it is pink. I’m not mathematician, but I know that money is good, so I bet you can earn a good profit from this.

In fact, with this type of cashflow, you can easily become the next Warren Buffett and use this to buy other assets. Hello empire!

469 Valley St San Francisco, CA 94131
Price: $738,000

Beds:     4
Baths:     2
Sq. Ft.:     935
$/Sq. Ft.:     $789
Lot Size:     -
Property Type:    Detached, Full, Single-Family Home
Style:    Cottage
Year Built:    1910
View:    Panoramic, City Lights, Bay
Region:    San Francisco District 5 (Central)
Area:    Noe Valley
County:     San Francisco
MLS#:     348338
Source:     San Francisco MLS
Status:     Active
On Redfin:     5 days
Fixer-upper
Contractors Special; Zoned RH-2; Great Views of Noe Valley, Diamond Heights, the Bay, etc. Probate Sale. Property Sold in it’s present AS-IS Condition. Seller has full authority (Court Confirmation may not be required). Home in poor condition. Lots of deferred maintenance. Looking at offers any time

So much senseless, ridiculous claims about how the Bay Area is declining in the silly press these days. Thanks to Burbed reader Carsten, we can remain confident that San Francisco is in the Real Bay Area. $789 sqft for a fixer upper feels normal… almost relieving.

A little deferred maintenance? Like what?

I did warn you that this was NSFB didn’t I?

Happy Monday!

6252 3rd St San Francisco, CA 94124
Price: $187,900

Beds:     2
Baths:     1
Sq. Ft.:     695
$/Sq. Ft.:     $270
Lot Size:     -
Property Type:    Single-Family Home
Property Style:    Traditional
Year Built:    1915
Stories:    1
Region:    San Francisco District 10 (Southeast)
Area:    Bayview Heights
County:     San Francisco
MLS#:     348172
Source:     San Francisco MLS
Status:     Active
On Redfin:     22 days
Located steps from the new 3rd Street rail line, there is a large rear yard, two bedrooms, a large eat-in kitchen, one bath, dining room and living room. This would be the perfect property to put your own personal stamp on. This is a great opportunity at a great price! This bank owned property is only accepting all cash offers at this time.

I honestly had to do a double take when I saw this listing that Burbed reader Indoor Adventure sent. This is what he had to say:

Hey Burbed,

We totally love your site, i’ve never laughed so hard from reading a housing blog. You have a great writing style, keep up the good work

I just found this GEM tonight and thought of you and your site immediately.

http://www.redfin.com/CA/San-Francisco/6252-3rd-St-94124/home/1727218

I think I’d title this “The bottom in San Fransico has arrived!” or something like that I will also note that the “backyard” pic is very sureal <G>, but hey another title, “A yard in San Francisco!!!?” how rare is that?

Thanks again for making me laugh every day.

-IA

Gem indeed. ZOMG! Hey San Francisco… if you don’t improve your performance soon and cut crap like this out, you are going to face being removed from the Real Bay Area association. Shape up or ship out!

That said, let’s take a quick look at this backyard that IA is so fascinated with:

Interesting how that building in the background is just a facade. Clearly if you buy this house, you will be living on a movie set! That said, the house on the right could probably use some tilex….

And remember! This house requires all cash. Come on! At this price, you could Coinstar it! The price is so low, it’s downright scary!

Thanks for the find Indoor Adventures. Be sure to tell all your friends about this fine site!

CleanOffer
216 Putnam St
San Francisco, CA 94110
Price: $888,000

Status :
Available
Type :
Attached Single Family
Neighborhood :
Bernal Heights
Bedrooms :
3
Bathrooms :
2.5
Square Footage :
1953
Parking Spaces :
2
Days On Market :
4

Description

Very large 3 bedroom home built new in 1996! This home features a great open plan for the living space - tons of room and light. 3 bed/2 bath on one level 2 more 1/2 baths. Come see it is clean and contemporary and ready to go. This is the home with the space you have been looking for. the laundry room is located behind the large 2 car garage.

Not too shabby. Not too shabby indeed.

But what’s the difference between that listing, and this one?

The answer? 6% per 2 month appreciation.

You see, while this fine property on the market for 66 days, the market has absolutely soared - hence the 6% price bump. It’s perfectly justified.

Here’s what Burbed reader Lisa had to say:

I have another good and curious listing:

216 Putnam in Bernal Heights.
This listing was originally listed on the marked 65 days ago and then withdrawn.  Originally listed for 838K.

It just recently got relisted on 9/17/08 and now the asking price is for 888K.

The only discernable difference is the staging….50K worth, apparently.  But it really spruces up the place!

I will be emailing you the 2 listings in my next emails.  Please see photos.

While Lisa chooses to believe that it is because of staging, I think it is because of the great market. Or, maybe rather that this new price ($888k!) ensures eternal luck and fortune!

What do you think justifies this price boost?

(Thanks Lisa!)

320 LONDON St San Francisco County, CA 94112
Price: $578,800

Beds: 3
Baths: 2
Sq. Ft.: 1,344
$/Sq. Ft.: $431
Lot Size: 2,500 Sq. Ft.
Age (Years): 100
Year Built: 1908
Type: Detached Single Family
Stories: 2 Stories
Neighborhood: Other Area
County: San Francisco
MLS#: 80815014
Source: MLSListings
Status: Active
On Redfin: 101 days
Unsold in 90+ days
CHARMING VICTORIAN STYLE SINGLE FAMILY HOME. THIS HOUSE OFFERS THREE BEDROOMS AND TWO BATHS. BOTTOM LEVEL HAS POTENTIAL FOR IN LAW UNIT. FEATURING AN UPDATED KITCHEN, FIREPLACE IN THE LIVING ROOM, AND A JACUZZI TUB IN THE UPPER LEVEL. THIS HOME IS CLOSE TO ALL AMENITIES, AND OFFERS A LARGE YARD, AND A ONE CAR GARAGE!

Burbed reader Rick posted this in the comments a few weeks ago - and I finally got around to clicking on the link. This is what Rick had to say:

Can someone tell me what’s going on for this house? What happen to the little doll house at front? (Or is it a window?) How about the second picture? That is supposed to be the back? I think that is the back of another house, I don’t even see a house.

Hm, let’s take a look at the back:

Well, Rick. You’ve got me. I’m pretty stumped as to what is going on in this scene. Perhaps this is what makes this house Victorian Style.

Any San Francisco experts want to chime in on this?