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What’s Up SF? Prices? Consumer Confidence?

Reflections on the week From Kevin and Open Homes Picks.

Happy Weekend!

As we enter the first week of August traditionally inventory goes down as people take their vacation. Just look around the city and you’ll hear languages of all kinds of people descend on San Francisco.

But can you state the case is different. People have heard that inventory is still shockingly low – and it is – and are now making best efforts to put their homes on the market.

Last weekend, I helped one client win a NoPa condo that was on the market for less than 48 hours because we used a WiFi Hotspot I had along and skyped with her so that her first walk-through of the property was live and virtual!

Great Traffic on Duboce: 

Pink is In!

II had a great response for the advance opportunity for my latest exclusive listing for the pink shotgun Victorian located at 473 Duboce Avenue.  Even bicycling icon Gary Fisher stopped by to see if this home could be his next pad.  His verdict: “Cool Pad!”  See more here.

You’re Invited   

Storrie-Ord Garden Party 8/18/12, 1:00 p.m.

And here is one event invitation that you should consider:

Showing off the best of the San Francisco can-do spirit, the neighbors in upper Eureka Valley got together to reclaim a small parcel in their neighborhood that had become blighted. Instead of accepting the status quo, a group of neighbors near Ford and story streets got together and coupon city resources along with their own blood, sweat and tears to turn the area into the beautiful community garden it is today.

So come celebrate the Grand Opening of the Storrie-Ord Garden with us and Superviser Scott Wiener and neighborhood folks on Saturday, August 18, 2012 at 1:00 p.m. at the park, which is located at 18th and Storrie Streets. Event sponsored by Kevin Ho, Vanguard Properties.

You’re Invited!

7-day Market Stats for Single Family properties in

SAN FRANCISCO, CA as of 27 Jul 2012

Median List Price:

$788,944

Average List Price:

$1,517,261

Total Inventory:

404

Price Per Square Foot:

$466/SqFt

Average Home Size:

1,657 SqFt

Median Lot Size:

0 SqFt

Average # Beds:

3.29

Average # Baths:

2.33

Homes Absorbed:

67

Newly Listed:

60

Days on Market:

78 days

Average Age:

77 years

Data provided by and ©2012 Altos Research LLC

7-day Market Stats for Condo properties in

SAN FRANCISCO, CA as of August 03 2012

Median List Price:

$699,000

Average List Price:

$870,367

Total Inventory:

567

Price Per Square Foot:

$628/SqFt

Average Home Size:

1,267 SqFt

Median Lot Size:

n/a

Average # Beds:

1.98

Average # Baths:

1.70

Homes Absorbed:

86

Newly Listed:

61

Days on Market:

90 days

Average Age:

44 years

Data provided by and ©2012 Altos Research LLC

Notable Open Houses (pdf here, click more for html) 

Kevin’s Trending Open House Picks, Aug 5, 2012 Ed.

Sneak Peak: Pink is the New Victorian. Pre-MLS for single-family house with income unit: $1.3 million – listed exclusively with Kevin K. Ho, Esq., Vanguard Properties

Get the advance on an exclusive new listing in San Francisco from Kevin K. Ho, Esq., Vanguard Properties

Built in 1887, this shotgun Victorian has seen history unfold around it. It’s painted pink so you can’t miss it – but you may miss this advance, pre-MLS purchase opportunity for this 2-unit, 1800 sq ft (approx.) home with garage, roof deck, backyard, income unit and expansion potential.

The upper unit has sweeping skylights, two bedrooms, one bath, in-unit laundry, and a spacious updated kitchen with stained-glass features, gas appliances, smart cabinetry, big island for family time – all overlooking a grassy backyard with swingset.

The lower unit is a one bedroom, one bat with kitchen income uni with approximately 800 sq ft.

There is a covered garage where two cars could conceivably fit in a tandem parking configuration as well as the driveway that would allow you to park without blocking the sidewalk.

The sellers are weighing their options carefully as their family expands; conceptional plans were prepared for a 2-story rear expansion and renovation with a new roof deck, common living area, and master suite and a completed in-law. The current downstairs tenant has verbally committed to leaving the property when a sale closes. The opportunity and potential at 473 Duboce are great as it is pink!

Offered at $1.3 million, pre-MLS

473 has just recently been re-subdivided as its own parcel. Records seem to indicate that the previous owner bought the surrounding parcels so that there were three lots held together as a tenancy in common. as such, assessor records may not yet reflect this recent development.

Interested parties are advised to consult a land use lawyer to confirm.

Downstairs tenant has no lease with the sellers currently. But downstairs tenant is a friend of sellers and has verbally agreed and understands that she will vacate unit should property sell.

The previous deck was demolished on the thought that could be replaced using over-the-counter permits. But that apparently was mistaken advice. Sellers are investigating available options.

The upstsirs home receives great light and has a wonderful San Francisco feel. The seller, recent renovation has reduced the amount of noise and vibration felt in the home.

Music to Someone’s Ears: 552-554 Capp – HUGE Victorian at $1.359M

Detached, Massive and Stately Fixer Next to Music School on the Market

Over by the Community Music Center on Capp Street where yours truly attempted to relearn violin is this giant Victorian screaming to be the next it house where tons of money is poured in and an amazing home worth 2-3x the purchase price comes out the other end (see 111 Liberty for example). The 3250+ sq ft detached home dates from “1900” (code for: building records burned in the 1907 earthquake) and has soaring ceilings, choppy layout and phased period ‘remodels’ and a $40,000+ pest bill. According to the listing agent, parking can be installed for a modest $120,000, modest when compared to the nearly $200,000 estimate to replace the brick foundation. Good thing is that the parking permit would be over the counter according to the listing agent. Those amounts are just the start, of course, and don’t factor in the major renovation you’d have to do inside, which would probably set you back another $200,000 give or take $50,000. But there’s a back cottage and a tree house to boot.

This would be all yours but only if the music school next door doesn’t buy it first, which would be a natural expansion of the school’s current facilities. According to the listing agent the Community Center is interested but is moving as fast as an entity with a board and foundation can. The seller has owned 552 Capp since the 1970s, raised a family there and then rented it out. Only recently did she use the Ellis Act to evict the tenants, but is in no hurry to sell even though the listing agent disclosed her desire to sell the property as part of a capital gains tax-deferred 1031 arrangement. At the current ask of more than $1.3 million it’s steep barrier to entry combined with the $500,000+ needed to bring it into this century. A high-priced fixer yes, but my thought is that once completed, it’d be that house on the block worth at least $2.1 million on up. Roll over Beethoven indeed.

Pictures and Open House Times Follow

Open House times are below. (Listed with Eva Stoyanov, Paragon)

07/27/12 4:00 pm – 6:00 pm Friday Open House
07/29/12 2:00 pm – 4:00 pm Sunday Open House
07/31/12 2:30 pm – 4:00 pm Tuesday Open House

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