Price Reduced--We don't see that too often on the 'Hill

Has anybody noticed that 999 Wisconsin St. #8 has been for sale for SEVERAL months and has been reduced SEVERAL times. Sure, this home is far from the best location on the hill, but it's HUGE!

History of price:

$749,000
$729,000
$699,500--priced to sell!

to view this property: 999 Wisconsin

Over Bidding

Out of the 15 homes that have sold this year in Potrero Hill, 5 have sold for over the asking price, 6 have sold for under the asking price and 4 have sold for exactly the asking price.

Does this mean anything to buyers and sellers?

Planning your Sunday Open Houses

Boy oh Boy--lot's to see in Potrero Hill and Glen Park on Sunday. Where does one begin?

I've seen just about every active listing in both neighborhoods, so I'll give you my thoughts on a couple of places and you can plan accordingly.

Potrero Hill Single Family

512 Connecticut Street-- Older Victorian Home that has been on the market for 8 Days. The bedrooms are suprisingly large for a Victorian Home and the house has some nice upgrades. There is a fairly large dollar amount on the pest report, some views and a decent location.

706 De Haro Street-- A completely re-done home. A few years back it was a fixer-uper and the current owners sure fixed it up. Lots of space, but honestly, I felt like it was sort of cold and somewhat bland.

1200 Indiana--hands down the most unique place I've seen on the Hill. This is the ultimate party house! May be very difficult to get financing as it's a commercial property, but this place is worth taking a look at just because there is nothing else like it.

Potrero Hill Condo's

25 Sierra-- This is the new Sierra Heights development. The units are new and clean and they offer some nice fixtures. Not sure everybody would be comfortable with the location. If you are comfortable with new loft developments and the location, it may be worth looking at as you can avoid any sort of bidding situation as they typcially accept offers at the asking price.

701 Minnesota Street #104--This loft is located in one of my favorite complexes, but this particular unit is not one of my favorite. It's a little plain, but as far as I'm concerned, it's a blank canvas. It's been on the market for a while and I think it can be snatched for a good price. I have seen some amazing units in this complex--it may be worth a look if you have a creative vision.

254 Pennsylvania--Beautiful condo in a not so beautiful location. Extremely open floor plan with 3 bedroom suites, very nice. Deep, rich, warm colors, high-end finishes and TONS of room. I like the place a lot, but thought it might be slightly over priced since there are no views and it sits right next to the Freeway exit.


I will discuss and share my opinions on Glen Park property after the Tuesday tour.

Breaking TIC news

According to Goldstein, Gellman, Melbostad, Gibson + Harris LLP:

In January, the San Francisco Board of Supervisors voted to send all lottery condominium conversion applications before the Planning Commission to allow the public an opportunity to question the legitimacy of each conversion. Prior law required a public hearing only for 5-6 unit properties. Mayor Newsom will veto the new legislation, which passed by only a 6-3 vote, indicating that his veto will not be overridden by the Supervisors.

On December 6, 2005, the Supervisors slightly changed the rules for the 2006 condominium conversion lottery, while tightening rules on so-called "protected evictions" of elderly or disabled tenants.

The City has nearly doubled its application fee for condominium conversions to $8,336. The purpose for the fee increase is to allow for hiring of additional staff to help process conversions more quickly. Given the backlog of pending applications, however, conversion applicants are unlikely to see any significant shortenings of conversion processing times in 2006.

What a difference a day makes....

About 2.5 weeks back I wrote about the lack of inventory on the 'Hill. My oh my, it's amazing how different the active homes for sale list looks like now with 4 Single family homes averaging $1,532,000 and 15 lofts and condo's versus the list just a few weeks back!

click: Active Potrero Hill Single Family Homes
click: Acive Potrero Hill Lofts and Condo's


Though Glen Park has a few more active single family homes, there is not 1 loft or condo for sale!

click: Active Glen Park Single Family Homes
click: Active Glen Park lofts and Condo's