One South Park added three new listings into MLS ranging in price from $630,000 to $1,495,000.Michael NoviaSouth Beach Real Estate415-637-2409 (24 hours) 01/15/2008

   Homes on Esprit Park posted two price reductions in MLS today. Unit # S102: 835 sq ft 1 bed/1.5 bath condo was reduced from $626,240 to $594,928 and unit #S115 (same layout) was reduced from $635,420 to $603,649.Michael NoviaSouth Beach Real Estate415-637-2409 (24 hours) 01/15/2008

    Establishing the value of your property and discussing "strategic" pricing are perhaps the most important steps in preparing your home for sale.The importance of pricingA buyer's first impression of a property is directly related to how he/she perceives it to be priced in the marketplace. If the buyer does not feel that it is well priced in comparison with other like properties, this will negatively impact an otherwise good first impression.Defining a fair market value rangeFair market is the highest price at which a buyer will buy and a willing seller will sell at. Many factors are considered in determining a fair market value range:Location, size, condition and demand for this type of property Recently sold comparable properties Competition from comparable properties currently on ... 01/15/2008

 Are you interested in buying a new home and would like to take advantage of the "Buyers Market"? I can help you negotiate your closing costs and help you get a great sales price. Closing costs average 1% to 1.5% of the purchase price. When you go to sell 3 to 5 years from now it will look like you knew what you were doing!    Michael NoviaSouth Beach Real Estate415-637-2409 (24 hours) 01/15/2008

For nothing more than a little fun, we thought it would be interesting to extrapolate some of the numbers we played with last week to predict what prices would be in ten years IF the rate of inflation and appreciation remained the same as it's been over the last decade. So, with some very basic math, we averaged out the increase for single family homes, lofts/condos/TICs and Multi Unit buildings in five neighborhoods and applied it to a new neighborhood, Glen Park--2017. Not only do we doubt that the rate of appreciation will remain the same, but we hope with all our might that it doesn't because not a damn soul will be able to afford a tank of gas let alone a modest house in Glen Park. Glen Park 2007 2017 Average cost of a single family house $1,059,660 $3,274,349   Average cost of a c... 01/14/2008

San Francisco's Public Utilities Commission approved a local subsidy Tuesday January 8th for residents and business who install solar power. San Francisco has established themselves as leaders in the move towards being one of the first cities to be known as a Green City. The Solar incentive plan is expected to win final approval by the San Francisco Board of Supervisors next month. In addition to  the state and Federal incentives, the city subsidy could eliminate around half the cost of the solar installation.Full Article SF Solar Power Credit 01/11/2008

[update: offer accepted in 4 days for over asking.  Status is currently pending] Deets: Address: 504 Ellsworth Street Price: $869,000 Currently 1000 sq feet of living space (per tax records) 3 bedrooms 1.5 bathrooms Garage Garden and deck TONS of storage Just 2 blocks from Cortland Ave. Investment opportunity - An architect has developed a rendering which would legally convert a large portion of the garage into a master suite opening to a garden and yard. Once done, some small changes can me made upstairs to better utilize the living space. You are looking at a remodel of approximately $140K. Before you shake your head in disbelief, take a look at some comparable stats: 2007 Average Sales price for comparable homes: $1,158,000 (3 bed / 2 bath / 1 car parking / 1400+ sqft.)$1,236,000 (3 ... 01/11/2008

This week we’re going down memory lane in five districts–to wrap things up nice and neat, our last district is Bernal Heights. We’re bringing it back to good old 1997 when Ben and Jerry’s introduced “Phish Food,” the world lost Notorious BIG, Bill Clinton was President and Mission Bay was nothing more than a place on the map. We've been getting a lot of interest in the Then vs Now series we ran this week from our readers and other blogs (thanks theFrontSteps, CurbedSF, Redfin) and we're glad you likey. Now, speak up, leave comments, thoughts or questions--we'd love to hear your voice! Next week we'll be putting the data together to do some head-to-head comparisons; gitty up... Bernal Heights 1997 2007   Average cost of a single family house $269,001 $893,133   Average cost of a Apple Ma... 01/11/2008

This week we’re going down memory lane in five districts–now up, NoPa. We’re bringing it back to good old 1997 when Ben and Jerry’s introduced “Phish Food,” the world lost Notorious BIG, Bill Clinton was President and Mission Bay was nothing more than a place on the map. Noe Valley 1997 2007   Average cost of a single family house $442,045 $1,268,000   Average cost of a honda accord ex $20,000 $26,000     Average cost of a Condo/Loft/TIC $260,935 $729,992     Average rent of a 2 bed apartment $900 $2,100   Average cost of a multi unit building $438,146 $1,378,891Then Vs. Now; NoPa [SF Schtuff] 01/10/2008

District 1 Nov-06 Nov-07 Number of Sales 12 15 Median Selling Price 734,500 995,000 Average DOM 60 39     District 2 Nov-06 Nov-07 Number of Sales 2 4 Median Selling Price 880,000 681,250 Average DOM 27 32     District 3 Nov-06 Nov-07 Number of Sales 3 2 Median Selling Price 504,500 542,250 Average DOM 69 57     District 4 Nov-06 Nov-07 Number of Sales 8 4 Median Selling Price 516,000 560,000 Average DOM 50 40     District 5 Nov-06 Nov-07 Number of Sales 34 29 Median Selling Price 807,000 830,000 Average DOM 42 41     District 6 Nov-06 Nov-07 Number of Sales 21 14 Median Selling Price 610,000 794,000 Average DOM 39 70     District 7 Nov-06 Nov-07 Number of Sales 31 24 Median Selling Price 876,000 1,087,500 Average DOM 47 38     District 8 Nov-06 Nov-07 Number of Sales 34 32 Median Selli... 01/09/2008

This week we’re going down memory lane in five districts–now up, Noe Valley. We’re bringing it back to good old 1997 when Ben and Jerry’s introduced “Phish Food,” the world lost Notorious BIG, Bill Clinton was President and Mission Bay was nothing more than a place on the map. Noe Valley 1997 2007   Average cost of a single family house $458,985 $1,503,412   Average cost of a movie ticket $4.25 $8.50     Average cost of a Condo/Loft/TIC $356,787 $845,745     Average cost of a dozen eggs $1.25 $3.25   Average cost of a multi unit building $482,134 $1,457,000Than Vs. Now; Noe Valley [San Francisco Schtuff] 01/09/2008

   1. Hire a cleaning service.  A spotlessly clean home is essential.2. Pay attention to the outdoors. Be sure your patio, balcony, yard is clean. If needed add some color with a few plants and flowers3. Serve cookies, coffee, and soft drinks. It creates a welcoming touch and encourgaes prospective buyers to linger.4. Lock up your valuables, jewelry, and money. It's impossible to watch everyone all the time.5. Turn on all the lights. Even in the daytime, incandescent lights add sparkle. 6. Send your pets to a neighbors or a daycare for the afternoon. Remove that kitty litter and pet toys.7. Leave. It's awkward for prospective buyers to look in your closets and express their opinions of your home while you are there. Michael NoviaSouth Beach Real Estate415-637-2409 (24 hours) 01/08/2008

 According to MetroRent SoMa has the highest average "asking" rental prices for both one and two bed apartments in the city; 1 bed: $2,716, 2 bed: $4,300. Number two for 1 beds is Potrero Hill at $2,375 and number three is Upper Nob Hill at $2,350. For 2 beds Presidio Heights comes in at number two with $4,183 followed by number three the Marina at $3,800.Now on with the story... It's good news for landlords that mortgage applications fell to their lowest level in a year last month because people have to live somewhere and if they can't or won't buy, they'll have to rent.Here are the nation's 10-most-expensive cities for renters and the average rents. The data is provided by Marcus & Millichap.New York, N.Y.: $2,922 San Francisco: $1,904 Boston: $1,658 San Jose, Calif.: $1,612 Los Angel... 01/08/2008

This week we’re going down memory lane in five districts–now up, Pacific Heights. We’re bringing it back to good old 1997 when Ben and Jerry’s introduced “Phish Food,” the world lost Notorious BIG, Bill Clinton was President and Mission Bay was nothing more than a place on the map. Pacific Heights 1997 2007   Average cost of a single family house $1,706,000 $5,022,000   Average cost of a USPS stamp $0.32 $0.41     Average cost of a Condo/Loft/TIC $487,294 $1,242,000     Average cost of a gallon of milk $2.49 $3.99   Average cost of a multi unit building $1,060,000 $2,328,000Then Vs. Now; Pacific Heights [San Francisco Schtuff] 01/08/2008

Would you like to receive updates about the local real estate market? Sign up for the South Beach Real Estate Newsletter. Click here for a sample. Sign up by emailing mnovia@southbeachrealestate.com and insert Newsletter in the subject line. Michael NoviaSouth Beach Real Estate415-637-2409 (24 hours) 01/07/2008

 Once you have identified a home that can fulfill your goals and are prepared to make an offer, there are financial, psychological and emotional considerations in structuring your offer. Is the property "hot"-one that could invite multiple offers? If the seller counters your offer and asks for a higher price, what is the most you are willing to invest (yes even in this market)? Is the property in need of improvement? How motivated is the seller? How motivated are you? What contingencies have you placed on your offer? Several factors to consider: Purchase Price - Look at comparable properties to help decide the amount you are willing to invest.Loan Contingency - How quickly can the loan contingency be removed.Inspections - You should always have a contractor's inspection. With some excep... 01/07/2008

This week we’re going down memory lane in five districts–up first, Potrero Hill. We’re bringing it back to good old 1997 when Ben and Jerry’s introduced “phish food,” the world lost Notorious BIG, Bill Clinton was President and Mission Bay was nothing more than a place on the map. POTRERO HILL 1997 2007 Average cost of a single family house $352,000 $1,083,000   Average cost of a cup of coffee $1.00 $1.65     Average cost of a Condo/Loft/TIC $311,000 $742,000     Average cost of a gallon of gas $1.29 $3.25   Average cost of a multi unit building $412,000 $1,385,000 Then Vs. Now 1997 vs. 2007 [San Francisco Schtuff] 01/07/2008

Homeowners who choose to install Solar Panels get help from the City of San Francisco in new subsidy program that was proposed on Tuesday. Some experts say the effort is groundbreaking and, if implemented, could be the nation's biggest such program. The proposed subsidy would be $3,000 and $5,000 per residence and up to $10,000 for businesses. City officials are also proposing a low-interest financing program that would allow residents to incrementally pay back money borrowed for solar installations at below-market rates, possibly via charges on their property tax bills like near by City Berkeley, CA Solar imitative program.Read on> 01/06/2008

 Construction at BLU (631 Folsom @ Second) is moving along nicely and appears to be on schedule for a summer 2008 move in. As part of their offerings BLU will be selling 6 penthouse homes. All of the homes are on 3 levels and have 3 bedrooms and 2.5 bathrooms.  Two of the floor plans also have family rooms. They range from approx. 2000-2700 sq ft. and each home will offer wonderful San Francisco views. You can enter the home on either the 20th floor where the bedrooms are located, or on the 21st floor where the main living area is located.  Each penthouse has a 3rd level where homeowners will enjoy an outdoor deck and a glass enclosed solarium.  All of these homes will be equipped with exceptional quality finishes. Preliminary pricing; from the high- 2 million to mid- 3 million dollar r... 01/03/2008

 Statistics now include Potrero Hill and the Central Waterfront and include only Condos and Lofts.2006 vs. 2007Mission BayMedian Sold Price: $884,500 vs. $681,692Number of units sold: 6 vs. 6Days on Market: 39 vs. 43The maximum sold price for December 2007 was $1,285,000 (one of ours at the Beacon) vs. $1,315,750 in 2006. The minimum sold price was $510,000 for 12/06 vs. $535,000 for 12/07 .South BeachMedian Sold Price: $795,000 vs. $640,000Number of units sold: 27 vs. 9Days on Market: 48 vs. 54The maximum sales price was $1,750,000 for December 2007 vs. $1,395,000 in 2006. The minimum sold price was $409,000 vs. $373,000 in 2006.South Of MarketMedian Sold Price: $648,900 vs. $586,000Number of units sold: 26 vs. 16Days on Market: 59 vs. 69South of Market is home to some of the priciest ... 01/03/2008