Luba Muzichenko

San Francisco Realtor

Archives for August 2008

Open Shutter to the Past: San Francisco in Pictures – Warm Day at Ocean Beach (1943)

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Welcome back to Photo Friday – my little way of taking a break from San Francisco Real Estate and instead blogging about our great City’s past instead. All photos are published with permission from the San Francisco History Center and San Francisco Public Library.

The word around the weather channels is that this weekend is going to be NICE in the City!  And if the last few days are any indication, I believe it!  Today, the weather is supposed to hit the mid to HIGH 80’s in parts of SF.

And when the weather heats up around SF,  people in flock to Ocean Beach to cool down.  They’ve been doing that for ages.  And this weekend will be no different. 

But with all of the parks in the City, to get your outdoor fix this weekend, you don’t have to go to the beach.  But I’m sure you’ll enjoy it if you do. 

No matter what you decide to do this weekend, wear sunscreen, drink lots of water and don’t drink and drive – I hope you have a great time and a safe time. 

See you back here Tuesday when the 3 day holiday is but a memory!   

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Got SF Real Estate Tools?

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Are you looking to buy a house in San Francisco?  Or maybe you’re pondering selling that little SF condominium or TIC? 
Whether buying a house, condo or TIC, investment property,etc. or looking to sell any of the above in the City, you want TOOLS!
I’m not talking hammers, table saws and drills – I’m talking about tools that provide you with HONEST and UNBIASED information about the San Francisco Real Estate Market!
So – you want to know what kind of tools you can get your hands on?
 
The City Update(TM) – The Best San Francisco Real Estate Newsletter Ever!

The City Update(TM) is a little SF real estate newsletter delivered straight to your inbox (almost) every Friday.  It has ALL sorts of awesome features including:

  • San Francisco Market Reports from the Altos Research folks
  • All of the NEW San Francisco real estate listings from the previous week
  • All of the SOLD San Francisco real estate listings from the previous week
  • Links to SF Open Houses, SF Foreclosure Listings, and more
  • Commentary about the SF Real Estate market from yours truly
  • SF Property “Pocket Listings” that I hear about (properties that AREN’T available to the general public!)

You can SIGN UP HERE or you can check out the site (just keep in mind that frankly, the site sucks – but I created it myself and since my HTML skills are LACKING, I’m just happy I got THAT far with it!)


 
SF Real Estate Market Updates
If you just can’t get enough San Francsco real estate market updates between this blog and The City Update(TM), you now have one more option when it comes to getting the latest deets on what the market is doing. 
Again, brought to you by the Altos Research folks, you can narrow down your reports by zip code or property type AND you can sign up for as few or as many zip codes as you like (you just have to reenter your info for each new zip code/property type). 
Go ahead, get your SF real estate data fix on!  You can SIGN UP HERE.
 
100% Complete Access to the San Francisco MLS
Know everything that’s on the San Francisco market in real time.  Just like a REALTOR, you’ll get access to ALL of the listings in the MLS. 
Unlike other Real Estate search sites, Zephyr MLS Direct gives you the most complete, accurate and up-to-date listing information available, which lets you find properties as soon as they hit the market. 
It also lets you save your searches and new listings that match your criteria emailed to you as soon as they hit the market!  And you can save your favorite properties, watch them go into escrow, and if they’re in your “favorites” folder, you can even see the price they sold for (which we all know is super secret data.)  You also get notified of any changes that occur to the property listings that match your criteria AND Friday Open House reports.  Cool or what?
You’ll have to give up some personal info, and “agree” to work with me as your REALTOR (it’s a technicality that the MLS requires), but I NEVER EVER EVER hold you to it.  To really build a client/agent relationship, we have to meet in person to decide if we’re a good fit to help you achieve your real estate goals.  And you’ll have to CONTACT ME to make it happen.  WHY?  Because I’m just not into stalking and I’m easy to find. 
Want your own MLS access?  You can SIGN UP HERE.
 
So, go ahead, sign up for one, two or all three of the San Francisco real estate tools above!  And if you think you’d like me to represent you in the sale or purchase of a property, call me at 415–307–1392 or shoot me an email.  I’m happy to schedule a free consultation with you to see if we’d work well together.
Oh, and as a reminder, should you sign up for any of the tools above, as always, your info will not be sold, rented, shared, abused, danced on, or in any other way misused. Just thought you’d like to know.

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San Francisco 2-4 Unit Fast Facts July 2007 vs. July 2008

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San Francisco Association of Realtors District Map

For those of you that like your San Francisco real estate market data without commentary, here ya go.  Take a look, check it out, come to your own conclusions. 

Or – you can always ask me questions. 

2-4 unit_7_2008.pdf

NUMBER OF UNITS is the equivalent of number of sales/transactions. For condominiums, each unit is treated as a sale. For 2- to 4-unit buildings, the “building” is treated as a sale.

NUMBER SOLD is the number of properties in the market segment that closed escrow during the month.

NUMBER FOR SALE is the number of active properties on the market for one day or more during the month.

MEDIAN PRICE (SOLD) reflects the “middle” price point of a group of properties that have successfully closed escrow on a monthly basis, i.e. half sold for more and half sold for less than the median price. Tracking the movement of median prices over time provides a good indicator of the direction market forces are moving.

If the percentage change is positive between the two periods then there is upward pressure on prices in that market segment. If the percentage change is negative between the two periods then there is downward pressure on prices in that market segment.

AVERAGE DAYS ON MARKET (DOM) reflects how long it has been taking (on average) to draw an offer on a reasonably priced property exposed to the market. The AVERAGE DAYS ON MARKET is defined as: The average number of days it took all of the properties that went under contract during the period to accept a first position offer.

MONTH’S SUPPLY OF INVENTORY (MSI) is a measure of how long it would take, in months, to sell the existing inventory at the current sales rate for the specific neighborhood and property type. The MONTH’S SUPPLY OF INVENTORY is defined as: The number of active properties on the market for one day or more during the month, less the number of properties that have been withdrawn or expired, divided by the number of properties that have gone under contract during the month.

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Data provided by Terradatum.

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Another Monday Morning in San Francisco

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The Madness of Market Street, originally uploaded by Thomas Hawk.

Good morning. While most of you will be hustling around the City today because it’s Monday, the start of a work week, I’ll be heading out to Healdsburg to go canoeing down the Russian River.

Why?

Well, as I mentioned on my post on Friday, things have been busy, and I need a teensy weensy little break.

So tomorrow, I’m all rustling me up some San Francisco Real Estate.

But today, today, it’s just me and a paddle.

Hope your week is off to a great start! I know mine is!

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San Francisco Property Spotlight

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SF Realtor Property Spotlight

Welcome back to the “San Francisco Property Spotlight” brought to you by yours truly.  If you ever see a property you want to hear more about – HUSTLE! – it might not be around for long!

This time, it’s a sweet little something in Bernal Heights that caught my eye. 

130 Newman is a sweet property listed with Carol Bee of Herth Real Estate.  Frankly, the photos of this home don’t do it justice (though we all know that overcast skies in SF just can’t be helped) – nor do the photos convey the positive energy this house has (which you just can’t convey with photos).

The house is a 2BR 1BA with a double parlor, a kick-ass kitchen, a large garage, an awesome deck, a bright and sunny yard (assuming the sun comes out in San Francisco) and a hidden secret – a HUGE undeveloped attic!  I can’t help but get excited about attics.  I’m not sure what it is – maybe it’s because attics remind me of giant clubhouses.  (My dad built me my own little clubhouse when I was a little kid, complete with peaked roof, lights, a desk and a door that locked!  Sorry to digress – but I suddenly have a hankering to go into a small space, play “house” and make refrigerator art!) Though of course, the attic is much more than a clubhouse – temporarily, it’s storage, but long term, it’s room for expansion.  It’s listed at $979,000 and with a recent comparable around the corner on Bennington that sold for $1,060,000 (with the 3rd Bedroom in the attic, you can see that the possibilities 130 Newman presents!)  Go and check it out for yourself.  It’s open this Sunday the 24th from 1–3pm. 

I’m off to go make refrigerator art.

As usual, if you have questions about any of the properties I mention in these spotlights, or about the real estate market in general, don’t hesitate to contact me. I love to talk real estate! :-)

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A Little Friday Fun from Luba's San Francisco Real Estate Blog

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Normally on Fridays, I do a historical photo post of San Francisco.  I’m a bit of a nerd, I like history and I LOVE San Francisco.  What can I say.

It’s been a rough week though, with several open escrows being juggled like balls in the air ( 5 ball cascade)…

                                                                                         …….. some new listings I’m prepping for the market ….

 

……and some buyers that I’m helping prep to get into the market by teaching them to balance their desires with their budgets. 

So I thought I’d throw something in today’s post that would make you laugh a little.

It’s a viral video from Zillow – and while I think Zillow’s “Zestimates” are crap (their estimates of property values have been as much as 50% off in some cases), they do have some valuable information on their site, including the amount your neighbor’s home sold for.

You could, of course, sign up for The City Update(TM) – The BEST San Francisco Real Estate Newsletter Ever! and get EVERY SINGLE PROPERTY THAT SOLD in San Francisco in the previous week right in your inbox every Friday, but that’s a different story. 

For now – check out the video and laugh a little.  And think of all of the people YOU’D like to give a little “Pillow Justice!” 

It’s Friday.  Smile.

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San Francisco Real Estate Sales Data – July 2008

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As I do every month, I ran the latest San Francisco real estate sales figures from the month of July for you.  The last few months, I’ve been a little bit behind schedule (I like to do these at the beginning of each month,) but hell, I’m not a superhero or anything!  I’m just a human Realtor that occasionally gets busy, or has life get in the way of this little humble San Francisco Real Estate Blog.   I’m a San Francisco Realtor by addiction, I’m a San Francisco blogger by choice. 
Enough about me though, right?  You want to talk about SALES!
Single Family homes sales volume is down, median price is up, days on market is down.  Condo/Loft and Co-op sales volume is up, median price is up, days on market is down.  TIC sales volume is down, median price is down, days on market is slightly up. 
What I am noticing across the board is that the list to sales price ratio for properties that are selling within 30 days is climbing.  And as far as medians go, the median list to sale price ratio is telling me that places are mostly selling for close to the asking price.  Whether it’s an indication of better pricing strategy on the side of sellers and their listing agents, or if it’s an indication that the market is stabilizing – it’s an indication that you’re not able to go and steal anyone’s property out from under them.  You can get a good place at a good price, but no seller needs to just give it away to you.   
Though I still sing the same tune from last month… I think we’re still moving along at a pace that’s great for buyers, not so great for sellers and is still, overall, ok for the City.
So here’s this month’s summary of home sales pulled directly from the MLS. Remember, these are all closed sales and not pending sales.
Check back monthly to get the latest facts and figures – and if you have any questions about these statistics, or the market in general, feel free to give me a holler! I’m always happy to talk “real estate!” ;-)
Here’s a quick snapshot of the market from July 1, 2008 through July 31, 2008:
Single Family Homes

  • 219 Homes Sold
  • Median Sale Price was $849,000
  • Minimum Sale Price was $190,000
  • Maximum Sale Price was $7,700,000
  • Median Selling Price was 100% of asking price
  • Median Days on Market was 29
  • Median Selling Price for homes that sold within 30 days was 104.5% of asking price

Condominiums, Lofts & Co-ops

  • 230 Homes Sold
  • Median Sale Price was $795,900
  • Minimum Sale Price was $150,000
  • Maximum Sale Price was $5,000,000
  • Median Selling Price was 99% of asking price
  • Median Days on Market was 41
  • Median Selling Price for homes that sold within 30 days was 102.5% of asking price

TIC’s

  • 33 Homes Sold
  • Median Sale Price was $544,500
  • Minimum Sale Price was $265,000
  • Maximum Sale Price was $1,750,000
  • Median Selling Price was 102% of asking price
  • Median Days on Market was 77
  • Median Selling Price for homes that sold within 30 days was 105.77% of asking price

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Whose Agent Am I Anyway?

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If I’m already working with you on the sale or purchase of a home, you already know the answer to the question. :-) Otherwise, the answer can be really simple, or it can be really complicated… it depends on the situation. Sometimes I’m the seller’s agent, sometimes I’m the buyer’s agent… and on rare occasion, I might even be both! How can that be? Do I have split personalities? No… but depending on who I am working with, my role will be very different.

First, I guess I should back up and explain what it really means to be an “agent.” It means that I am authorized to act on behalf of my client in the purchase of real estate. This agency relationship creates a fiduciary duty on my part , which is essentially a legal relationship between me and my clients. In fact, according to Wikepedia…

A fiduciary duty is the highest standard of care imposed at either equity or law. A fiduciary is expected to be extremely loyal to the person to whom they owe the duty (the “principal“): they must not put their personal interests before the duty, and must not profit from their position as a fiduciary, unless the principal consents. The fiduciary relationship is highlighted by good faith, loyalty and trust, and the word itself originally comes from the Latin fides, meaning faith, and fiducia.

When a fiduciary duty is imposed, equity requires a stricter standard of behavior than the comparable tortious duty of care at common law. It is said the fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, a duty not to be in a situation where their fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from their fiduciary position without express knowledge and consent. A fiduciary cannot have a conflict of interest. It has been said that fiduciaries must conduct themselves “at a level higher than that trodden by the crowd.”

This essentially means that my clients’ interests come first… all of the time.

When I’m working with buyers, I am the buyer’s agent. I represent the buyer’s best interests. While some of the things I do for buyers go above and beyond fiduciary duty (no where does it say that I have to celebrate the purchase of my client’s home with a bottle of champagne or be their real estate consultant for life, but I do these things). Essentially, my goal is to get my clients the best possible place at the lowest possible price and best possible terms.

On the other hand, when I am the seller’s agent, I represent the seller’s best interests. Again, I go above and beyond fiduciary duty (such as giving all of my clients access to Zephyr MLS Direct which provides them with access to 100% of MLS data, and allows them to keep their eye on the competition or referring them to contractors that can help them make their home look its absolute best for the sale).

Of course, there are rare occasions when I am a dual agent! This can present huge limitations. I can no longer represent either client’s best interests… instead, I have to be impartial and am not able to negotiate, or fight for one client’s position over the other. When I say that these occasions are rare, I mean they are RARE! Typically, the only way that I will take on such a situation is when both a buyer and seller approach me to handle the details of the transaction, rather represent either party’s interests. However, such a situation has the potential to crop uo if I am listing a property for sale, and one of my clients is interested in buying it. In those rare cases, I typically refer my buyer client to another agent that I trust for the offer writing and negotiations. There is no way that I would be able to be impartial in such a situation, and having my client be taken care of by someone I know and trust is almost as good as taking care of them myself. The goal is for their interests to be taken care of, not matter what!

You would think that due to the conflict of interest dual agency presents, most agents would avoid it. But often times, a listing agent will meet a potential buyer at an open house and try to get the to make an offer on their listing. This is a lose-lose situation for all parties involved, except for, of course…. the agent.

If you’re a seller, you probably already have your own agent listing your property. But if you’re a buyer, watch out! Make sure YOUR interests are represented. Find an experienced agent to really represent your best interests, and hopefully go that extra mile for you as well. Remember, working with a buyer’s agent doesn’t cost you a thing! And it’s the best protection you can get to make sure you have a smooth and problem free home purchase.

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San Francisco Condo Fast Facts July 2007 vs. July 2008

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San Francisco Association of Realtors District Map

For those of you that like your San Francisco real estate market data without commentary, here ya go.  Take a look, check it out, come to your own conclusions. 

Or – you can always ask me questions. 

7_2008_condominiums.pdf

NUMBER OF UNITS is the equivalent of number of sales/transactions. For condominiums, each unit is treated as a sale. For 2- to 4-unit buildings, the “building” is treated as a sale.

NUMBER SOLD is the number of properties in the market segment that closed escrow during the month.

NUMBER FOR SALE is the number of active properties on the market for one day or more during the month.

MEDIAN PRICE (SOLD) reflects the “middle” price point of a group of properties that have successfully closed escrow on a monthly basis, i.e. half sold for more and half sold for less than the median price. Tracking the movement of median prices over time provides a good indicator of the direction market forces are moving.

If the percentage change is positive between the two periods then there is upward pressure on prices in that market segment. If the percentage change is negative between the two periods then there is downward pressure on prices in that market segment.

AVERAGE DAYS ON MARKET (DOM) reflects how long it has been taking (on average) to draw an offer on a reasonably priced property exposed to the market. The AVERAGE DAYS ON MARKET is defined as: The average number of days it took all of the properties that went under contract during the period to accept a first position offer.

MONTH’S SUPPLY OF INVENTORY (MSI) is a measure of how long it would take, in months, to sell the existing inventory at the current sales rate for the specific neighborhood and property type. The MONTH’S SUPPLY OF INVENTORY is defined as: The number of active properties on the market for one day or more during the month, less the number of properties that have been withdrawn or expired, divided by the number of properties that have gone under contract during the month.

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Data provided by Terradatum.

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Free Canvas Grocery Bags for Luba’s SF Real Estate Blog Readers

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A while ago I noted that San Francisco had put a ban on plastic grocery bags. Since then, many cities have followed suit, or at least have contemplated following suit.

The problem is that stores aren’t using the biodegradable starch based bags and instead are using paper bags – a big problem for tree lovers and trees alike. The problem is that while a paper bag won’t sit in landfill for thousands of years like a plastic bag will, it actually takes more energy to make a paper bag than a plastic bag.

My suggestion, although probably controversial, is stop selling paper bags too.

Stores can then charge anywhere from $0.10 to $0.25 a bag for the starch based bags. People will learn that you either need to pay up or bring your own bag. And stores can stop bitching that the starch based bags are too expensive and cut into their profits.

In Europe, everywhere I went I wasn’t handed a bag unless I asked for it, and paid for it. And no one complained.

My suggestion – bring your own grocery bags to the store with you.

What? You say you don’t have any reusable grocery bags? Give me a holler – I’ll hook you up with a free canvas grocery bag while I’ve got ‘em.

I apologize, but I am no longer shipping the bags outside of the San Francisco Bay Area. (I actually no longer ship the bags – I either drop them off locally, or leave them at my office for people to pick up.)

The bags are to help people “go green” but the amount of energy it takes to ship something as small as a canvas bag across the country is very wasteful, as is the packaging required to ship it.

I hope you understand and I apologize for any inconvenience.

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