Hello there. Its been awhile since touching base, but I have an excuse. I was busy working with 37 buyers and sellers over the last 24 months. It was an incredible experience and it allowed me to help a lot of people get the home of their dreams. These 2 years taught me how best to serve my clients and that's why I moved to Climb Real Estate Group and accepted the role of Senior Sales Leader. Its an opportunity to give my people the time and service they deserve and work in a management capacity and provide training and support to our brilliant team. I'm also an ambassador for Climb at industry and public events.
Look out 2012, its going to be a wild ride.
Wednesday, February 1, 2012
Monday, April 5, 2010
Seattle Dispatch: Investigating A Different Way to Buy & Sell Real Estate
I love the real estate business. Having worked with buyers and sellers for ten years in San Francisco I better love it.
Over the course of a decade I've seen the market change several times and that has kept me on my toes. The most profound change in since Y2K has been the proliferation of online tools and data available to consumers. Not only do people have the benefit of blogs and MLS access but there are real estate brokerages that eschew bricks and mortar offices altogether. These companies offer what could be called an 'a la carte' approach to buying and selling where the consumer does the research and relies on the expertise of a real estate professional during the most critical moments of the transaction. For buyers that's writing and submitting the offer and for sellers its evaluating those offers. The benefits? Getting a substantial portion of the commission rebated back to you.
I'm in Seattle this week to train for my new job as a Field Agent with Redfin. I'm excited to learn more about this company and how they are changing the real estate business. There will always be a place in the market for traditional brokerage but I wanted to take this opportunity when it presented itself.
Don't worry, though. I'm still the Downtown expert and am plugged in to and reporting on the news and events that pertain to high rise and new construction condominiums in Downtown San Francisco. In the coming weeks I will share with you what I learn about Redfin and how it works.
Over the course of a decade I've seen the market change several times and that has kept me on my toes. The most profound change in since Y2K has been the proliferation of online tools and data available to consumers. Not only do people have the benefit of blogs and MLS access but there are real estate brokerages that eschew bricks and mortar offices altogether. These companies offer what could be called an 'a la carte' approach to buying and selling where the consumer does the research and relies on the expertise of a real estate professional during the most critical moments of the transaction. For buyers that's writing and submitting the offer and for sellers its evaluating those offers. The benefits? Getting a substantial portion of the commission rebated back to you.
I'm in Seattle this week to train for my new job as a Field Agent with Redfin. I'm excited to learn more about this company and how they are changing the real estate business. There will always be a place in the market for traditional brokerage but I wanted to take this opportunity when it presented itself.
Don't worry, though. I'm still the Downtown expert and am plugged in to and reporting on the news and events that pertain to high rise and new construction condominiums in Downtown San Francisco. In the coming weeks I will share with you what I learn about Redfin and how it works.
Monday, March 22, 2010
What a Difference a Year Makes: Artani is Back on the Market
It was a little over a year ago that the development team over at Artani condominiums (818 Van Ness Avenue) decided to pull the plug on their sales effort. Facing a challenging marketing and financing environment right after the Wall Street meltdown, they believed that the better part of valor would be to rent the units for a year and see how the market shook out.
Here we are a year later and the market has adapted to a new normal. Developments that continued to sell while Artani called it quits had success in moving product, albeit at prices that were lowered by as much as 30%. A lot of those projects are now sold out or very close to it which allows Artani to hit the market as inventory is narrowing and demand is relatively strong.
That leaves one question, how much? Sales Manager Aaron was gracious enough to give me a sneak peak at pricing.
Here's a sampling:
1-bedroom with parking starting at $489K.
1-bedroom 2-bath with den and parking starting at $549K.
2-bedroom 2-bath with parking starting at $699K.
All Artani homes come with dual pane windows, security systems, hardwood floors in the living areas, granite and s/s kitchens with gas viking ranges, fridge, stacked washer/dryer and built-in humidifiers. Units that face south and west get air conditioning and some second and eighth floor homes get large private terraces. HOA's run from the upper $300's to the lower $400's per month.
I imagine there is some wiggle room in the pricing for the 52 homes and given the quality of the finishes and floor plans these will probably sell at a steady pace. It turns out that some things may be worth waiting for after all.
Here we are a year later and the market has adapted to a new normal. Developments that continued to sell while Artani called it quits had success in moving product, albeit at prices that were lowered by as much as 30%. A lot of those projects are now sold out or very close to it which allows Artani to hit the market as inventory is narrowing and demand is relatively strong.
That leaves one question, how much? Sales Manager Aaron was gracious enough to give me a sneak peak at pricing.
Here's a sampling:
1-bedroom with parking starting at $489K.
1-bedroom 2-bath with den and parking starting at $549K.
2-bedroom 2-bath with parking starting at $699K.
All Artani homes come with dual pane windows, security systems, hardwood floors in the living areas, granite and s/s kitchens with gas viking ranges, fridge, stacked washer/dryer and built-in humidifiers. Units that face south and west get air conditioning and some second and eighth floor homes get large private terraces. HOA's run from the upper $300's to the lower $400's per month.
I imagine there is some wiggle room in the pricing for the 52 homes and given the quality of the finishes and floor plans these will probably sell at a steady pace. It turns out that some things may be worth waiting for after all.
Monday, March 15, 2010
100%, 99% and 50% at the Sales Centers, High Rise 80's Glamour & One Hawthorne Bats its Eyelashes
Milestones
The Arterra sales center put their last unit into contract about two weeks ago, rendering the Mission Bay development sold out once the remaining ten or so units currently in escrow close. This represents a four year sell out for developer Intracorp's 269 unit property. Construction costs ran just south of $90M USD. Close on their heels, The Infinity is down to nine units in Tower II with list prices starting at $2.7M. Across town in the Mission, 555 Bartlett announced that half of their 58 homes are now in contract after just two weeks of sales. Ladies and Gentlemen, Spring has sprung.
Greed is Good
Crank up the Oingo Boingo and make liberal use of the styling mousse because 80's glamour is now for sale. 611 Washington Street is a mixed use tower built in 1984 with 33 residential units sitting atop class A commercial office space.
Unit 2402 is listed at $3.595M and boasts 2624 square feet and iconic Downtown views. Unfortunately for the 80's purists among you, the kitchens and baths were updated a few years ago and there isn't a hint of glass block or brass to be seen. HOA dues and parking for two DeLorean's runs $2,518 per month.
Voted "Most Flirtatious" Class of 2010
The developer at One Hawthorne is a tease. The first ten units were supposed to have been released already, but developer Jackson Pacific has decided to play it coy. Buyers will have to wait until construction is complete on all 165 units before being able to write a check. ETA is June and methinks there is a wee bit of strategy afoot with both new and resale inventory Downtown shrinking rapidly. Worth the wait? I can take you on a tour to see. Can beggars also be choosers? We'll have to wait until June to find out.
The Arterra sales center put their last unit into contract about two weeks ago, rendering the Mission Bay development sold out once the remaining ten or so units currently in escrow close. This represents a four year sell out for developer Intracorp's 269 unit property. Construction costs ran just south of $90M USD. Close on their heels, The Infinity is down to nine units in Tower II with list prices starting at $2.7M. Across town in the Mission, 555 Bartlett announced that half of their 58 homes are now in contract after just two weeks of sales. Ladies and Gentlemen, Spring has sprung.
Greed is Good
Crank up the Oingo Boingo and make liberal use of the styling mousse because 80's glamour is now for sale. 611 Washington Street is a mixed use tower built in 1984 with 33 residential units sitting atop class A commercial office space.
Unit 2402 is listed at $3.595M and boasts 2624 square feet and iconic Downtown views. Unfortunately for the 80's purists among you, the kitchens and baths were updated a few years ago and there isn't a hint of glass block or brass to be seen. HOA dues and parking for two DeLorean's runs $2,518 per month.
Voted "Most Flirtatious" Class of 2010
The developer at One Hawthorne is a tease. The first ten units were supposed to have been released already, but developer Jackson Pacific has decided to play it coy. Buyers will have to wait until construction is complete on all 165 units before being able to write a check. ETA is June and methinks there is a wee bit of strategy afoot with both new and resale inventory Downtown shrinking rapidly. Worth the wait? I can take you on a tour to see. Can beggars also be choosers? We'll have to wait until June to find out.
Tuesday, March 9, 2010
Be Prepared For Your New Developments "Breaking In" Period
There is a dream a lot of new construction buyers have. It first takes shape in the flawless presentation of the model home with its professionally selected decor and costly upgrades. It continues to thrive with the idea of 'new' being something that is perfect and flawless, fresh off the assembly line like a car or a flat screen TV. The draw of the 'new' is sometimes culturally based and other times just seems like the 'smart' choice. Who wouldn't assume that everything will work effortlessly when there is no wear and tear?
Luckily, new construction condominiums have one year 'fit and finish' warranties that cover the inevitable settlement cracks, shrinkage gaps and the like. But what of the common areas? The parking garage? The building staff?
Just like any collaborative effort, a new development takes time to hit its stride. When you have a new building, new staff and hundreds of new residents all under the same roof things can go south quickly unless homeowners and management are on top of things. Patience is a prerequisite no matter how swanky the development. Even the architect doesn't know exactly how the building and its systems are going to perform until they are subject to daily use and the environment. Window systems sometimes fail, balcony railings 'whistle' in the wind and garage gates close on your trunk because the timer hasn't been adjusted. Frustrating? Yes. Curable? Absolutely.
The dream of a low-maintenance lifestyle is attainable with condominium living. You just have to give the building, its staff and your neighbors time to get with the program. You all had the same dream in that model home after all, didn't you?
Luckily, new construction condominiums have one year 'fit and finish' warranties that cover the inevitable settlement cracks, shrinkage gaps and the like. But what of the common areas? The parking garage? The building staff?
Just like any collaborative effort, a new development takes time to hit its stride. When you have a new building, new staff and hundreds of new residents all under the same roof things can go south quickly unless homeowners and management are on top of things. Patience is a prerequisite no matter how swanky the development. Even the architect doesn't know exactly how the building and its systems are going to perform until they are subject to daily use and the environment. Window systems sometimes fail, balcony railings 'whistle' in the wind and garage gates close on your trunk because the timer hasn't been adjusted. Frustrating? Yes. Curable? Absolutely.
The dream of a low-maintenance lifestyle is attainable with condominium living. You just have to give the building, its staff and your neighbors time to get with the program. You all had the same dream in that model home after all, didn't you?
Tuesday, March 2, 2010
Where The Heck Is 555 Bartlett?
Seven Hills Properties had several choices when deciding on a name for their new 60 unit development at the corner of Mission and Cesar Chavez Streets. The address for the previous building on the lot (a pretty cool Art Moderne paint store) was 3400 Cesar Chavez. Somewhat of a mouth full which doesn't flow off the tongue that well. How about a Mission Street address? Could work, but touting a Mission Street location when the neighborhood itself is still somewhat "gritty" may put potential buyers off. They could have gone with a 'named' development. Perhaps "The Crossroads" in reference to the bustling intersection it sits at. Or maybe "Revolution", a subtle homage to Cesar Chavez himself?
In the end, Seven Hills went with 555 Bartlett, which is the alley-like street that borders the rear of the parcel. It has a nice ring to it I suppose, and at least its not some banal attempt at branding the building to evoke something its not.
I toured the development a few weeks ago and was not expecting a lot given that there is a 24 hour Walgreens in the commercial space below the units, and the transit and traffic heavy locale. Color me surprised by the spacious, well thought out floor plans, upscale finishes and pleasant views of Bernal Hill to the south. With prices starting in the low 400's for 1-bedrooms and BART and 101 blocks away, this development offers great bang for the buck in a neighborhood that is stocked with bars and restaurants.
Sales start this weekend for these surprisingly appealing Mission condominiums. Just be prepared to tell people coming to visit you that although located at the corner of Mission and Cesar Chavez, the address is 555 Bartlett.
"Revolution" would have been so much easier : )
In the end, Seven Hills went with 555 Bartlett, which is the alley-like street that borders the rear of the parcel. It has a nice ring to it I suppose, and at least its not some banal attempt at branding the building to evoke something its not.
I toured the development a few weeks ago and was not expecting a lot given that there is a 24 hour Walgreens in the commercial space below the units, and the transit and traffic heavy locale. Color me surprised by the spacious, well thought out floor plans, upscale finishes and pleasant views of Bernal Hill to the south. With prices starting in the low 400's for 1-bedrooms and BART and 101 blocks away, this development offers great bang for the buck in a neighborhood that is stocked with bars and restaurants.
Sales start this weekend for these surprisingly appealing Mission condominiums. Just be prepared to tell people coming to visit you that although located at the corner of Mission and Cesar Chavez, the address is 555 Bartlett.
"Revolution" would have been so much easier : )
Tuesday, February 23, 2010
Downtown Inventory Sampler: Ladies & Gentlemen, Start Your Engines!
It was November 10th when we last looked at the sampler. With the holidays behind us and the late winter/early spring bump in inventory and sales, there are some interesting changes to the Downtown sales landscape. Arterra is rumored to be sold out within the week and The Infinity has but 15 units remaining. The impending sellout at the Main and Spear Street complex has motivated some owners to list their homes; and at aggressive prices. Time will tell what the market will bear, but the fact remains that overall inventory is low and buyer interest is high. Off to the races...
The Beacon
Six 1-bedrooms, two 2-bedrooms. Available units: 8. Total units: 595.
The Metropolitan
One 1-bedroom, two 2-bedrooms. Available units: 3. Total units: 342.
Watermark
No resale activity. Total units: 136.
200 Brannan
One 2-bedroom. Available units: 1. Total units: 191.
The Brannan
Four 1-bedrooms, Five 2-bedrooms. Available units: 9. Total units: 339.
The Potrero
One 1-bedroom. Available units: 1. Total units: 155
The Hayes
No resale inventory. Total units: 128
Arterra *
No resale inventory. Total units: 269
The Infinity *
Four 2-bedrooms. Available units: 4. Total units: 650
One Rincon Hill *
Three 1-bedrooms and Six 2-bedrooms. Available units: 9. Total units overall: 376.
* New inventory still available from the developer.
The Beacon
Six 1-bedrooms, two 2-bedrooms. Available units: 8. Total units: 595.
The Metropolitan
One 1-bedroom, two 2-bedrooms. Available units: 3. Total units: 342.
Watermark
No resale activity. Total units: 136.
200 Brannan
One 2-bedroom. Available units: 1. Total units: 191.
The Brannan
Four 1-bedrooms, Five 2-bedrooms. Available units: 9. Total units: 339.
The Potrero
One 1-bedroom. Available units: 1. Total units: 155
The Hayes
No resale inventory. Total units: 128
Arterra *
No resale inventory. Total units: 269
The Infinity *
Four 2-bedrooms. Available units: 4. Total units: 650
One Rincon Hill *
Three 1-bedrooms and Six 2-bedrooms. Available units: 9. Total units overall: 376.
* New inventory still available from the developer.
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