Latest Issue of Zephyr Real Estate S.F. MarketTracker week of 10/26/2010

Real Estate Market updates for S.F. buyers & sellers


Real Estate Update for San Francisco Homebuyers and Sellers
courtesy of:
Cheryl Bower
DRE# 01505551
415.999.3450
cheryl@cbower.com
Most Recent Sales citywide in the last 21 days

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In This Issue…

San Francisco Market Overview
Hayes Street Lots
Taxi Service, Venice Style
It Takes a Lot of Green to be Green

San Francisco Market Overview
Single Family Homes Condos/TICs/Lofts 2-4 Units
Median Sales Price, last 180 days
% Change from prior 180 days
Avg. Days on Market, last 180 days
% Change from prior 180 days
$670,000.00
-2.19%
58.7795
-1.54%
7.5
$620,000.00
+1.64%
75.8325
-3.58%
10.0
$1,010,000.00
+2.54%
87.4029
-9.35%
13.0
Hayes Street Lots

The city of San Francisco is set to auction off two city-owned infill housing sites in Hayes Valley. These are sites that were freed up when the Central Freeway was torn down five years ago. The City is hoping to bring in a minimum of $7.4 Million for the pair of parcels.

The Sites:
• Parcel H: 11,275 sq. ft. on the southwest corner of Gough and Grove. Minimum bid: $2.95 Million.
• Parcel J: 17,398 sq. ft. on the north side of Hayes between Gough and Octavia. Minimum bid: $4.45 Million.
• Both parcels are zoned for mixed-use housing under the Market Octavia Plan.
• Sealed bids are due to the City by October 26th.

The City has been criticized for pricing the parcels too high, but officials have expressed confidence that they are at market value and will not rush into any decisions.

“There’s no reason to have a fire sale, we want to get the best possible return for the public so we will do it strategically,” said John Updike, Deputy Director of the City’s Real Estate Division.

It certainly looks like more housing in Hayes Valley is on the way.

Taxi Service, Venice Style
A local tour operator is set to move forward with plans to start an on-demand water taxi service within the next three months. The City’s Port Commission finally approved plans just last week.

The first part of the agreement covers service between the Ferry Building’s Pier 1 ½ and the Hyde Street Harbor at Fisherman’s Wharf. The taxi service operator, Bay Quackers, plans for this service to just be the start. Future plans include landing rights at piers/harbors around the Bay, including Tiburon, Sausalito, Berkeley and Oakland.

The service is seen as a supplement to traditional ferry service, not a replacement for it. Initially the service will start with small boats that hold up to about a dozen people, but may expand to include some larger vessels down the road. The service is intended to work like traditional taxi service, in that it is for point-to-point service only, not for tours, excursions or dining cruises.

Rates for service have not yet been finalized, but John Scannell, owner of Bay Quackers, estimated a one-way trip from SF to Oakland might cost about $18.

A little slice of Venice stye, right here in the City.

It Takes a Lot of Green to be Green
Situated in the Presidio and in conjunction with Forest City’s Presidio Landmark redevelopment project, seven “green” townhouses, known as The Belles Townhomes, have been completed are set to hit the rental market. Some highlights:

• Each townhouse consists of 3 bedrooms and 3 baths
• The homes are 3 levels
• They have received the highest rating possible for progressive, green building (LEED Platinum certified)
• The homes take advantage of their “forest” setting and include tons of natural light and green views
• Green living features include photovoltaic panels that reduce energy demands and a “dashboard” system that lets you track and manage real-time utility usage

All this for just (gulp) $7,800/month. With a rental payment like that, it just might be time to buy something out in the Richmond and renovate it yourself.

Cheryl Bower • 415.999.3450 • cheryl@cbower.com • www.cbower.com
Recent listings, sales, and market data are based on information from the San Francisco Association of Realtors MLS for the periods shown.
Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.
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About Cheryl Bower

Cheryl is a S.F. native & 17 year property investor/renovator, specializing in S.F. real estate including residential sales & leasing.

She represents sellers, first time buyers, move up buyers, investors, & landlords in San Francisco, San Mateo County & beyond.

Questions about our marketplace?

415-999-3450

cheryl@cbower.com

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