I recently attended the Luxury Marketing Council of San Francisco’s event hosted by Gaul Searson showroom in the Design Center. There the Harrison Group presented their Annual Survey of Affluence and Wealth in America and summarized highlights from their recently published book, The New Elite…Inside the Minds of the Truly Wealthy.
It was an extremely informative presentation which I captured some of for your viewing. I hope you enjoy it.
1100 Union Street, San Francisco
The big news this weeks is the ever shrinking inventory level for the City. I had read that the 21st Century will be the ‘Urban Century’ and that may very well pull us out of any economic deficiencies much earlier than other areas. Unit 400 at 1100 Union, the posh coop on Russian Hill, went into contract last night for what I was told was $1,995,000 – just shy of asking price.
70 Valley Street, San Francisco
There have been a number of homes in District 5 (Noe Valley, et. al.) in the $2mil range that have gone under contract in the past week and more buyers are circling. My listing at 70 Valley Street, the newly completed Noe Valley townhouse was swamped with lookers last Sunday and on Brokers’ Tour, is being shown as I type this and I’ve been told there is another party close to writing a contract.
We received a contract on our listing at 366 Sanchez which will be presented tonight.
1793 Sanchez, San Francisco
And, we have a new listing at 1793 Sanchez coming on the market next Tuesday. It is a Victorian home with legal one-bedroom apartment for $1,250,000.
We have a chic Russian Hill coop with views of Alcatraz pocket listing. And, we have a couple of single family homes which will be coming on the market soon in Noe Valley.
Call me if you’re considering making a change. I just spoke with a client today who is planning to take advantage of the low inventory situation and sell. And we’re working with another who is making the decision to rent. There’s lots of movement out there so make sure you’re armed with all the information prior to making a decision.
All the Best,
Lance
415-793-6140
1188 Lombard
An exciting week in Bagdad-by-the-Bay, I toured the Mediterranean Villa at 1188 Lombard which is nice but the owners’ art collection is fantastic. And, I thought it extremely interesting that he/she is moving into the Millenium Tower on Mission Street from this ‘oh-so’ upscale address on Russian Hill. Looks like they’re moving to where the ‘action is’. Good for them and good for the City.
1896 Pacific Penthouse Suite
I went through the penthouse 1 bedroom condo at 1896 Pacific asking $4,495,000 and was a bit confused by the floor plan but expect this one to go to someone as a peit-a-terre. It has great decks and views and would be a great party pad but I’m not so sure about that price tag. It’s a ’spec’ for a local stager. Only time will tell on the pricing.
465 Hoffman
Over in Noe Valley, the second house in less than a week priced at $3million plus has gone under contract. That just continues to show you the strength of the market on the South side of the City. This is also the area that is projected to have the biggest appreciation going forward from the reading I’ve been doing. Location, location, location which is attached to all those jobs down the peninsula and in the fast growing pharmaceutical circle around the UCSF Medical Research campus. Looks to me like the energetic center of the City is really shifting this time……if those hob-nobbers on the Northern Hills are leaving for the Southland with a Mission Street address you know something is different.
245 Randall
The lower end of the spectrum is moving too….245 Randall asking $799,000 had 7 confirmed offers on Tuesday afternoon. Woo hoo!
That’s a short re-cap.
All the Best,
Lance
