900 Minnesota St

Some of you may be following the current change and construction down at 900 Minnesota. Today we received an update from BUILD Inc. about the project:

"The entire site is now fenced and construction trailers have been placed in the old parking lot. We have done all of the “soft” demolition, removing the interior fittings and furnishings. We worked hard to recycle about 85% of the material that has been removed. We are scheduled to commence the demolition structural elements of the building on Monday, August 20th. Since we are “harvesting” most of the material, it will need to be hand-dismantled, bundled or crated, then moved to a mill and warehouse in Mt. Shasta, California. Some of the material will be coming back to be used in the new construction.

In order to have enough room for this operation and the excavation of the garage in the northern half of the site, the rebuilding of 20th Street, and the extension of Esprit Park, we will need to include all of 20th Street within the fencing. 20th Street, between Minnesota and Indiana, will close starting Thursday August 24th.
As construction progresses, the city will require us to move the fences away from the building facades to provide a safety buffer. Ultimately, we will take up the sidewalk and the parking lane on both Minnesota and Indiana Streets. To minimize the temporary loss of parking in the neighborhood, we will ask DPT to relocate the perpendicular parking from the west side of Minnesota St. to the east side opposite the project only. We will work to keep all construction parking to Indiana St. Additionally, we are hoping to rent the space under the20th Street overpass east of Minnesota as an additional parking area."

This should be an exciting addition to the Central Waterfront neighborhood.

Sunday Open Houses

If you have some time to look at property on Sunday, here are a couple of open houses that you may find interesting:

Central Waterfront:
2002 3rd St. #212 Open Sunday 2-4
1325 Indiana #111 Open Sunday 2-4
701 Minnesota St. #108 Open Sunday 1-4

Potrero Hill:
197 Mississippi St. #A Open Sunday 2-4
592 Wisconsin St Open Sunday 2-4
327 Connecticut St Open Sunday 1-4

Noe Valley:
4751 25th St. Open Sunday 2-4
517 29th St. Open Sunday 2-4
554 Valley St. Open Sunday 1-4

Glen Park:
2301 Diamond St. Open Sunday 2-4
407 Chenery St. Open Sunday 2-4
1107 Bosworth St Open Sunday 1:30-4:30

Bernal Heights Garage Sale

It's time! The annual Bernal Heights / Hill Garage Sale
August 19th

Over 125 sites in 2006 -- certain to find a range or product and prices. Based on the eclectic community in Bernal, you are certain to find something for everyone this weekend. Maps can be picked up on the morning of the 19th at the Bernal Heights Neighborhood Center --515 Cortland St.

See you there!

3rd St Corridor

The changes are well under way! 2 new establishments highlight the rapidly changing neighborhood:

Yield Wine Bar - 2490 3rd St - http://www.yieldsf.com/ - A wine bar on 3rd St - times are a changin! - Tuesday - Saturday - 5:30 - Midnight -- Sunday 2 - 8 pm

Retox Lounge -- New ownership / new decor / new feel alltogether! Recently recieved their "cabaret" license -- so expect live music and a hip scene on 22nd and 3rd St.

In my humble opinion, you can expect to see more of the same in the upcoming months -- sounds like a good time to invest in real estate in the Dogpatch / 3rd St corridor -- here's 1 choice:
2002 3rd St # 212

SOLD!

999 Wisconsin is sold! There has been a lot of buzz about this property due to the size, price, location, status changes and days on market.


The Stats:

Originally listed: $749,000 and sat on the market for 52 days. Withdrawn.
2nd go-round: $749,000 and sat on the market for 20 days. Expired.
3rd go-round: $699,500 and sat on the market for 110 days. Withdrawn.
4th go-round: $650,000 and sat on the market for 46 days. SOLD!!! for $625,000.

That was fun.

Active Inventory

Potrero Hill Single Family Homes
Potrero Hill Lofts/Condo's/TIC's
Potrero Hill Multi Unit Buildings

Glen Park Single Family Homes
Glen Park Lofts/Condo's/TIC's
Glen Park Multi Unit Buildings

Ladies and Gentleman, Urgency has left the building...

One thing the Potrero Hill housing market has lacked for the last couple of years was choice. If a person was interested in purchasing a single family home on the 'Hill, chances are, they had little choice in the matter. They needed to have a certain dollar amount, they needed to pick from a very small batch of inventory and they needed to compete against dozens of other potential buyers. The house would typically sell for above the asking price after receiving multiple offers in a matter of 12-16 days no matter what the condition or location. Sellers loved this market while buyers got frustrated. Tensions rose in offer and counter-offer situations and emotions often dictated the ungodly requests that sellers made and the silly decisions buyers made out of spite. Ladies and gentleman, boys and girls, those days seem to be behind us in Potrero Hill. Homes on the 'Hill are still selling for about the same amount of money, but the major difference--buyers can and have taken their time with their choices. The current average days on market for a single family house on the hill (current active listings) is 38, with a low of 9 and a high of 64. Not only does it seem buyers are taking their time, but rather than being bullied by the sellers, buyers are now starting to dictate the terms, price and conditions of the transaction. Greg and I help both buyers and sellers throughout the city, we have started to see a momentum swing which is something folks should be happy about (of course the sellers are less than thrilled, but for the sake of [slightly more] affordable housing, fair negotiations and a more sustainable housing economy, a more balanced approach is healthier in the long run).

Please feel free to email if you'd like any market statistics--I'd be happy to share.