January 3, 2009

New Term for 2009: RSF (Real San Francisco)

First there was Real Bay Area – which is defined as… well… the Real Bay Area. As opposed to the geographic Bay Area which spans 9 counties, 101 cities, and includes places that no one thinks of when you say Bay Area, like Novato, Lafayette, Belvedere, etc. The Real Bay Area is a place where house prices always go up – it is the engine of our nation’s economy – it is a place where smart people go to live.

The Real Bay Area used to include San Francisco… but apparently, it only includes the Real San Francisco:

SFHomeBlog.com – A San Francisco Real Estate Blog: SF is finally ‘officially’ a Buyer’s Market
Despite month’s of negative news regarding real estate, San Francisco has proven amazingly resilient to price decreases (southern neighborhoods such as South of Market not withstanding) that is, until quite recently.

Ouch. Sorry SoMA. You’re now no longer in RSF, and thus no longer in RBA. (Was it a really surprise to any readers here though? After all… how can you compare the boring culture of SoMA to that of Palo Alto and Cupertino?)

Don’t worry – you have the whole year to recuperate!

Comments (128) -- Posted by: burbed @ 5:22 am

December 30, 2008

Affordable single family home in San Francisco – no problem!

127 BROAD St, San Francisco County, CA 94112 | MLS# 80778010
127 BROAD St San Francisco County, CA 94112
Price: $390,000
Beds: 2
Baths: 1
Sq. Ft.: 783
$/Sq. Ft.: $498

Lot Size: 2,495 Sq. Ft.
Property Type: Detached Single Family
Style: Ranch
Year Built: 1900
Stories: 1
View: City Lights
Neighborhood: Other Area
County: San Francisco
MLS#: 80778010
Source: MLSListings
Status: Active
On Redfin: 312 days
Unsold in 90 days
Big price reduction, great investment opportunity for investor or first time buyer. This semi-detached house is Zoned RH2. It has 2 Bedroom & 1 Bath, living room, kitchen, new water heater, new fenced. One block to street car, close to school, shopping, transportation and freeways, great location, great price. House is vacant, lockbox on.

Thanks to Burebd reader Sonarrat for this find. Hah and to think that people say San Francisco isn’t affordable. Sure it is – anyone can afford this house. At $390,000 it is an absolute steal. And it’s a very reasonable $498 per square foot.

Here’s another photo that the realtor thought would be helpful in your decision making:


How cute! Note that the house is zoned RH2, so there’s definitely the potential to expand and monetize this lot to its fullest potential.

Is this a smart, affordable investment in San Francisco? I think so. Don’t you?

Comments (9) -- Posted by: burbed @ 5:52 am

December 29, 2008

$150,000 price cut at The Palms SF – not a surprise

555 FOURTH STREET #521, San Francisco, CA 94107 – presented by Daniel Hershkowitz

555 FOURTH STREET #521, San Francisco, CA 94107


* 2 bedrooms, 2 baths
* Contemporary Classic in the Heart of San Francisco
* Designer Italian Kitchen w/ Finest Cabinets, Counters & Appliances
* Light-Filled Living Room w/ City Views & Balcony
* Spacious Master Bedroom w/ His & Her California Closets & Sleek Master Bath
* First Class Amenities — 24hr Concierge, Full Gym, Yoga Studio, Business Center, Billiards, Theatre
* MLS# 341320

Thanks to Burbed reader Andy for this find.

I hate to say this, but wasn’t it obvious that the price would be cut at places like this in SoMA San Francisco? I mean, come on – there is seriously nothing there. Sure there’s a Whole Foods, but it is truly dinky. And culture? Give me a break.

It’s no secret that everyone is flocking to places like Cupertino. Heck, just look at the size of the Whole Foods there! And the choices of eateries definitely beats SoMA. Afterall, there’s Cupertino Square. Take that Metreon!

Sorry SoMA San Francisco. You were cool earlier this decade – but now it is Cupertino’s time to shine.

Comments (92) -- Posted by: burbed @ 5:37 am

December 20, 2008

Rental prices for apartments in San Franicsco are falling?

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.

Comments (13) -- Posted by: burbed @ 5:37 am

December 13, 2008

A letter from the owner of 13 Lucky St

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?

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


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


Comments (18) -- Posted by: burbed @ 5:14 am

December 4, 2008

Get lucky at 175 Lucky

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!

Comments (152) -- Posted by: burbed @ 5:57 am

December 3, 2008

A pink house in San Francisco – with revenue opportunities

Sunnydale Ave, San Francisco, CA 94134 MLS# 80817316 – Property Details

* 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!

Comments (7) -- Posted by: burbed @ 5:00 am

December 1, 2008

NSFB (Not Safe For Breakfast): A little deferred maintenance in San Francisco

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
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!

Comments (26) -- Posted by: burbed @ 5:03 am

October 31, 2008

For Halloween… the scariest house in San Francisco!

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.


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.


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!

Comments (34) -- Posted by: burbed @ 5:36 am

October 6, 2008

Which is better? 216 Putnam or 216 Putnam

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

Status :
Type :
Attached Single Family
Neighborhood :
Bernal Heights
Bedrooms :
Bathrooms :
Square Footage :
Parking Spaces :
Days On Market :


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!)

Comments (227) -- Posted by: burbed @ 5:20 am