Sad Day at the San Francisco Zoo – Tiger Kills 1, Injures 2

If you’ve read my blog in the past, you probably know that I’m a huge supporter of the San Francisco Zoo. In fact, I was just there this last weekend doing some volunteer work. I even spent two years working at the Zoo several years before I found my calling helping people navigate the San Francisco real estate market. The tigers were some of my favorite animals there. In the mornings, before the public got to the Zoo, I’d walk around the grounds, and I’d always take some time to watch the tigers wake up and do their morning stretches.

So it broke my heart to hear about the tragedy that happened at the San Francisco Zoo on Christmas Day. I’ll skip the details that are rehashed in articles plastered all over the media, you can “google” those yourself if you’d like. In a nutshell, somehow, Tatiana, one of the Zoo’s Siberian Tigers, escaped from her exhibit and killed one person and injured two.

I’ll save my commentary – I find it hard to believe that there wasn’t some human involvement in the incident, but can’t speculate as to what might have actually happened. Instead, I’ll just post the statement published by the San Francisco Zoo. But before I do, I’d like to give my condolences to the family of the young man that was killed. I’d also like to give my condolences to everyone whose lives Tatiana touched at the San Francisco Zoo. I know the zookeepers and staff at the San Francisco Zoo are going through a tough time right now accepting and understanding what took place. My thoughts are with everyone who was affected by this tragedy.

Now here’s the official statement from the San Francisco Zoo.

San Francisco Zoo Statement Regarding December 25, 2007 Incident

The San Francisco Zoo wishes to express its deepest sympathy to the family and friends of the victim killed in the December 25, 2007 incident involving a Siberian tiger at the San Francisco Zoo. Our thoughts are also with the two people injured and we wish them a full recovery.

At approximately 5:00 p.m. on Friday December 25, 2007, the San Francisco Police Department and San Francisco Fire Department responded to an incident involving a Siberian tiger and San Francisco Zoo guests. One guest was killed and two others were injured. The situation required that the tiger be killed. There is an ongoing police investigation, and the Zoo will also mount its own internal investigation.

Zoo Director Manuel A. Mollinedo wants to commend and express deep gratitude to the individuals involved in yesterday’s activities, including the staff and respondents from the San Francisco Police and Fire Departments.

The Zoo is closed today, December 26, 2007, while the investigation continues. We anticipate that the Zoo will reopen tomorrow from 10:00 a.m. to 5:00 p.m. For information please visit sfzoo.org.

Over, Under, At – SF Home Sales: December 14-December 21, 2007

Welcome back to the “Over, Under, At” weekly feature. It’s a simple breakdown taken from MLS data that shows the number of closed sales that sold Over Asking Price, Under Asking Price or At Asking Price.

*Just a reminder that new construction sales are rarely included in this list since they don’t get posted on the MLS.

So this post catches us up with the “Over, Under, At” stats in the San Francisco real estate market. No commentary this week, as I’m getting ready for a visit from Santa.

Here’s a quick breakdown of closed San Francisco home sales for the week from December 14 through December 21, 2007:

Single Family Homes –
28 Homes Sold

Condos/Lofts/Co-ops’s –
34 Homes Sold

TIC’s –
17 Home Sold

Blast From the Past – San Francisco Real Estate Prices from 1999

Mention the year “1999″ and it doesn’t seem that long ago. I mean – we waited a long time for it – some waited for 1999 to come since Prince’s party anthem came out in 1982.

But 1999 doesn’t conjure up images of fashion faux pas that won’t ever be seen again, cars don’t look that different and aside from crazy rumors of Y2K computer glitches causing chaos and confusion across the world – life isn’t THAT different.

The biggest difference is that Bill was still president and weren’t even sure that George W. had a chance in hell of becoming the Republican presidential nominee, let alone the president. (I would have been happy to take an 8 year nap had I known then what I know now – oops! I’ve promised myself I’d stay away from political opinion in my blog – that just sorta slipped out.)

Anyhow, to put it in perspective, 1999 was only 8 years ago. But San Francisco real estate prices seem to be generations away!

When I was on vacation in Clear Lake, I was balling up some old newspapers for kindling, and ran across the SF real estate section of the S.F. Sunday Examiner & Chronicle from September 26, 1999. I laughed at some of the prices – and thought I’d share a few of the listings that I found, along with what the property would likely be listed for today. Today’s price will be based on average sale prices for similar homes in the areas – thought it’s a REALLY rough guideline, because without seeing a place in person, a REALTOR just can’t judge a property’s value. Each property is very unique and only an in-depth evaluation could really give an accurate assessment.

Now, there’s too many 199 properties to list all of them – so I figured I’d just share a few with you so you could get a little taste. Feel free to comment or ask questions if these numbers spark any feedback!

FLASHBACK TO 1999

Single Family Homes

Noe Valley
$899,000
Custom blt 4+BR/4.5BA oversize lot, 3 fireplcs, social rm, game rm, atrium, Japanese style grdn & more.
Today’s price: $2,100,000

Ashbury Heights
$825,000
Sensational! 3+BR/1.5BA, huge eat in kitchn, frml LR & DR, decks, balconies & yrd, 1pkng plus legal 1BR Apt.
Today’s price: $1,600,000

Bernal Heights
$385,000
Lovely cozy 2BR, quiet street, hw flrs, liv rm, rm & ba down, terraced garden, 1 pkng, w/d & storage.
Today’s price: $725,000

Richmond
$465,000
Detached 2BR/2BA + sunroom, new kitch & mstr bath, refinished hw flrs, period details, multi-car gar.
Today’s price: $899,000

Sunset
$325,000
2BR/1BA Lvng. Rm. w/Fplc., Dining Rm., Eat-in Kitchen, Gar., Yard, By G. Gate Park!
Today’s price: $749,000

Excelsior
$279,000
Sharp 2BR/2BA bungalow, stylish remod. kitchen & baths + frplc, yard, 1 pkng.
Today’s price: $675,000

Condos

Russian Hill
$799,000
3BR/2BA/2Car Pkg. Large, Open, Bright.
Today’s price: $1,250,000 and that’s without any views!

Pacific Heights
$439,000
Totally remodeled, 1BR/1BA, 1pkg. Private garden, hrdwd floors. Great!
Today’s price: $725,000

South Beach
$339,000
“The Portside”. 1BR/1BA, pkng, pool.
Today’s price: $675,000

Inner Mission
$299,000
Spacious lower unit in 2 unit bldg. 2BR/2BA + master suite, liv rm, dining area, laundry rm, 1pkg.
Today’s price: $725,000

So, while these examples are by no means intended to be a prediction as to what will happen in San Francisco real estate in the next 8 years, it just might be food for thought. I know people that were looking to buy in 1999 that could afford to buy a home, but decided against it because “prices were just too high!” But now that they’ve almost doubled (and in some neighborhoods, more than doubled) in the last 8 years, those same would-be buyers are now kicking themselves because they’re still renters and not homeowners.

My suggestion – if you’re serious about buying a home, don’t count on returns like the ones listed above on your investment. But you can count on a home purchase in San Francisco being a safe and sound real estate investment (especially if you plan on living there several years), and a sense of pride in owning your very own roof that’s over your very own head.

Landlords Have the Upper Hand in SF – Rents are Going Up, Up and AWAY!

Last week I noticed an article posted on MSN Real Estate titled “Rents take big jump in 3rd quarter”. In San Francisco, rents have always been damn high anyway – but with more buyers afraid to buy these days (and yes, there are plenty of qualified buyers out there reading the doom and gloom articles and waiting for them to come to fruition before they decide to spend money in San Francisco Real Estate) rental inventory is going down, and as is typical with supply and demand – rental prices are going UP!

The article points out that “The biggest rent increases came in more expensive coastal markets, where home prices have escalated over the past several years. Here, Chandan says, buyers are nervous about sliding prices, but are also put off by the continued lack of affordable housing and the rising interest rates on the jumbo loans required to purchase houses”

So instead of buying, they’re renting. And this increased demand for rentals in San Francisco has lead to an 8.4% jump in rental prices from a year ago to $1,811 on vacancy of 4.1%. This is second ONLY to New York City whose rents rose 9.1% from last year with 2.2% vacancy.

Other places the article mentions with huge increases in rental prices over last year? “San Jose, Calif. (8.8%); Seattle (7%); Orange County, Calif. (5.6%); Fairfield County, Conn. (4.6%) and northern New Jersey (4.8%) — all areas with pricey and somewhat limited housing stock.”

Coincidentally, these are ALL places where the sky still hasn’t fallen out of the real estate market. Homes in ALL of these cities are still selling, foreclosures rates are much lower than the country in general and the job market is strong. Hmm. I think this might be more than just a coincidence.

The latest statistics from SFRentStats show median rents increasing for all but 3BR properties. My guess is that those that can afford between $3500-4000 a month in rent would rather buy than rent, but that is pure speculation on my part with no data to back my opinion up.

If you have opinions, either about the SF Rental Market or about the SF Real Estate Market, I’d love to hear them.

Over, Under, At – SF Home Sales: December 7-December 14, 2007

Welcome back to the “Over, Under, At” weekly feature. It’s a simple breakdown taken from MLS data that shows the number of closed sales that sold Over Asking Price, Under Asking Price or At Asking Price.

*Just a reminder that new construction sales are rarely included in this list since they don’t get posted on the MLS.

Allrighty… so we’re almost all caught up with the “Over, Under, At” feature. Today’s post is for the previous week, and this weekend, I’ll be posting this past week’s sales data.

As for this week’s sales data, Condos are pretty much unchanged from last week, but Single Family Home sales took a bit a jump upward, as did TIC sales. Single Family homes are doing well despite all of the predicted doom and gloom, but condos have taken a bit of a hit. For those of you that are Condo buyers – don’t wait too long for a bargain – there might be one out there waiting for you to call it “home” right now!

Here’s a quick breakdown of closed San Francisco home sales for the week from December 7 through December 14, 2007:

Single Family Homes –
49 Homes Sold

Condos/Lofts/Co-ops’s –
36 Homes Sold

TIC’s –
12 Homes Sold

How to Keep it Green Underfoot

Occasionally, I like to invite a guest blogger to share some insights about their field of expertise. Sometimes it’s about San Francisco real estate, and sometimes, it’s just about stuff that San Franciscans care about. Today’s guest blogger is Chris Connors of San Francisco’s Design Solutions, a team of Certified Green Building Professionals. He’s been kind enough to post here before in “How to Save Money by Remodeling Green” But this time, well be discussing some options for green flooring. Read on for Chris’s commentary.

Considering a “Green” Floor? You have lots of choices!

When selecting green flooring, look for Low to No VOC emissions and sustainability. Depending your budget and tastes, there are many choices but here are a few of my favorites right now.

Cork – Far from a being a new green flooring option, people have been installing cork floors for over 100 years! Cork is harvested from the cork oak tree and about every 10 years, the outermost layer of the cork bark is peeled off for manufacture and the tree is left to regenerate.

Cork flooring offers outstanding durability, softness under foot, excellent acoustical properties and you can even get it stained in different colors. One drawback is it is prone to scratching so if you have pets, this needs to be considered.

Reclaimed Timbers – These are generally wood planks recovered from sources like old barns, abandoned schools and mills, warehouses and factories. Depending on the wood species, they are generally harder and richer in grain due to weathering and age than new fast-grown wood.

One drawback is they tend to be pricier than traditional new wood flooring.

FSC-Certified Hardwood – These are wood floor products from forests that are certified as well-managed according to the rules of the Forest Stewardship Council. You can find almost any wood specie FSC-Certified including the popular bamboo and oak. Be careful though when selecting bamboo as some manufacturers use urea-formaldehyde binders which produce off-gas emissions that are a proven carcinogen.

In addition to reclaimed timbers, you might want to consider other non-traditional recycled materials like recycled rubber, glass, ceramic tile as well as recycled carpet.

But just a word of caution – one of the most imporant things to keep in mind when selecting any green flooring, or green product for that matter, is to be sure to do your homework about the products you’re interested. Just because a product seems green, that doesn’t mean it is. Just a quick example – bamboo, a resource that is quickly renewed, may not always be the greenest choice. Some growers clear cut forests filled with mature trees in order to grow bamboo since it’s quite profitable these days.

Over, Under, At – SF Home Sales: December 1-December 7, 2007

Welcome back to the “Over, Under, At” weekly feature. It’s a simple breakdown taken from MLS data that shows the number of closed sales that sold Over Asking Price, Under Asking Price or At Asking Price.

*Just a reminder that new construction sales are rarely included in this list since they don’t get posted on the MLS.

I owe you guys a couple of “Over, Under, At” updates that I didn’t get a chance to post since I took a little vacation. I’ll post last week’s sales tomorrow, and by this weekend, we should be back on track.

In the first week of December, single family home sales took a little drop from the week before, but condo sales and TIC’s are pretty much on par with no significant changes.

Here’s a quick breakdown of closed San Francisco home sales for the week from December 1 through December 7, 2007:

Single Family Homes –
38 Homes Sold

Condos/Lofts/Co-ops’s –
37 Homes Sold

TIC’s –
7 Home Sold

November 2007 Sales Data is Here!

The latest market report is here. (You can also view previous market updates by selecting the archives on the upper right portion of the screen).

Prices are up 11.2% from last year but home sales are down 20.5% from this time last year.

The market is definitely doing some funny stuff these days, places that aren’t priced right are sitting around and gathering dust, but places that are priced well, staged well and marketed well are still flying off the market with multiple offers over the asking price. Of course, some sellers are unrealistic and want to sell there home for WAY more than it’s worth, and some buyers are unrealistic and want to steal a place from the seller for WAY less than it’s worth. But that’s just human nature for the most part, though some of it is definitely fueled by the doom and gloom that we keep seeing in the media.

As for what the San Francisco real estate market will bring us in 2008? There are a lot of conflicting views. But for a nice change of pace I thought I’d include a link to a positive perspective.

From the SF REALTOR® Advantage Online, December 18, 2007:

Tom Campbell, Dean of the Haas School of Business at UC Berkeley, was interviewed on the subject of the mortgage market on the KCBS’ program In Depth on December 8. His assessment of the mortgage market—and the real estate market, as well—was particularly optimistic. The entire interview can be heard as a podcast by clicking on the link below and going to KCBS In Depth: The Mortgage Crisis.

http://www.kcbs.com/pages/303509.php

Listen to the Podcast here

I’m Back – and I Missed San Francisco Real Estate

So I’m back from my little getaway in Upper Lake. I have to say, I’m a workaholic and I missed San Francisco real estate.

But I did manage to relax a little bit. And even took some pictures. I won’t share all 250 photos with you all, but some of the pictures were just so damn purdy that I couldn’t help but post them for the world to see. Feel free to browse and hope you enjoy the sunsets as much as I did. Just click here, on the above photo to check out some awesome pics.

And tomorrow – I should be back to blogging about San Francisco Real Estate!

This San Francisco REALTOR has Gone Fishing

So, I’ve decided to run away from San Francisco Real Estate and from the City for a little R&R. Even a San Francisco REALTOR that loves her job as much as I do needs a little down time. So I’ve headed up to Lake County for some fishing, kayaking and general relaxation. I’ll be spending mornings kayaking or fishing off of the pier, evenings watching the sun set over Clear Lake, nights snuggling with my dogs in from of the wood burning stove and the entire week feeding the 30 or so ducks that have gathered on the private beach in front the house we’re renting during our stay here.

I’ll be back in town on the 18th of December, and will resume my usual posts inclcuding the “Over, Under, At” feature. I’ll also continue my series for Buying a Home in San Francisco and Selling a Home in San Francisco.

When I come back, I’ll be ready to jump back into the San Francisco real estate market, so if you need help buying or selling property in the new year, know that I’ll be relaxed, refreshed and ready to work my butt off!