condos

What a difference a year makes.  I am sitting with two reports next to my computer--the first, a snapshot of the North Beach Condo Market that I prepared last July.  The second, a report that I created this morning.  Both reports look at all condos currently on the market--the ones for sale and those in contract, as well as all condos that have sold in the past 6 months. 

In 2008, there were 8 condos for sale or in contract, with prices ranging from $699,000 for a 2 bedroom condo that...

Gorgeous Noe Valley Getaway!
3 Bedrooms 2 Baths Open Floor Plan Living and Dining Room Wood-Burning Fireplace Cook's Kitchen Private Deck Laundry Terrific Storage Shared Garden HOA Fees $225/month Great Location!
$1,095,000

Just steps away from the restaurants, shops and conveniences of Noe Valley, this top floor 3 bedroom condo is filled with light and a sense of privacy and tranquility.  The over-sized living room has dramatic, soaring ceilings, a wood burning fireplace and two seating areas.  The adjoining dining area is bathed in light from the adjacent deck.  The semi-private kitchen has a ton of storage and counter-space, stainless steel appliances and granite counters.  I understand that baking with this oven is a dream.

The master bedroom and adjoining bath has terrific storage.  The guest bedroom is located across from the hallway bathroom.  The last bedroom, currently used as an office has built-in shelves and a desk.  There is easy access down to the shared garden.

Located near all of Noe's conveniences--easy walking distance to 24th Street and steps from Church Street, this home has easy access to 101 and 280 and the J-Church.

Sold
$1,030,000

An article in yesterday's SF Chronicle Business section takes a look at cooling condo sales in several of San Francisco's high rise condo developments.  Several of them have reduced prices--for a short period of time to encourage potential buyers, who have been sitting on the sidelines to write offers and purchase condos. 

I have received emails from several of these developments, and it seems as if these temporary discounts are around 10 to 20%  Many of these projects have an even larger...

In the last month, there have been four new sales recorded in North Beach.  All of these properties sold below their original asking prices (even the private sale at 733 Filbert Street #1, which was added to the MLS to provide comparable sale data, sold for less than asking!).

444 Francisco Street, #103 came onto the market in late June, and sold in late August for $725,000.  This condo is a nicely remodelled 2bedroom, 2 bath, with a patio.  530 Chestnut Street, #301, a large 2 bedroom...

Before we get started, it is important that you understand that the conversion of units to condominiums is governed by local and state laws.  For buildings with four units or fewer, San Francisco City and County laws govern  the process.  For larger buildings (five or more units), the California Department of Real Estate (DRE) regulations also apply.  These laws and regulations can change at any time.
Several unrelated (can also be related) people buying a multi-unit building in San...

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