Yes, price cuts do still happen on the San Francisco market

Tue, 25 Jun 2013 20:06:37 +0000

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With all the news of a hot market, over-bidding, and homes being bought before they even hit the MLS, we thought a small dose of humble pie might be in order for San Francisco real estate. For instance, despite being 4 beds, 4 baths with a deck, backyard and lower level rec room, the Octavia Street home above hasn’t sold in over 25 days; not only that, it’s had to drop its price $300K in hopes of finding a buyer.

What will it ultimately sell for?

Condos

Condos have been in demand as well, but that doesn’t mean every single one flies off the market at over-asking price. This Bryant St. unit, a loft-like 1 bed, 2 bath with deeded parking, listed in early June for $649K and is now down to $599K.

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What price do you think it might actually get, readers?

Co-ops

Co-ops too, despite the (limited) allure of exclusivity and general rarity they enjoy, have suffered recent price-cuts. This classic example on Gough St., a 4 bed, 3,5 bath in Pacific Heights, has dropped from $2,850,000 to $2,695,000.

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How much will it finally fetch?

We’re hardly pointing out a major reversal in the market. As this infographic courtesy of Paragon Real Estate Group shows, May sales were heavily weighted toward at-or-above-asking prices.

May sales in SF sold largely at or above asking. Courtesy Paragon R.E., SF

Still, 10% of homes sold at less than asking (though not by much), proof of some (waning) buyer power still in existence.

Anna Marie Erwert writes from both the renter and new buyer perspective, having (finally) achieved both statuses. She focuses on national real estate trends, specializing in the San Francisco Bay Area and Pacific Northwest, and writes for SFGate and CurbedSF. Follow Anna on Twitter: @AnnaMarieErwert

Article source: http://blog.sfgate.com/ontheblock/2013/06/25/yes-price-cuts-do-still-happen-on-the-san-francisco-market/

Jerry Brown’s homes were targets of break-ins

Wed, 24 Apr 2013 05:09:13 +0000

Sacramento —

Gov. Jerry Brown said Tuesday that someone attempted to break into his loft in Sacramento Sunday night and that three men attempted to break into his Oakland home about a year ago.

The governor, who made the remarks while speaking to a crowd gathered to remember victims of crime, was not home for either of the attempted break-ins, but he said his wife, Anne Gust Brown, was home alone in the Oakland incident.

Jerry Brown said the Oakland incident happened around 1 a.m. when three men showed up at his house and tried to break in. Anne Gust Brown called the California Highway Patrol, which arrived and held the men for 40 minutes. The governor and the first lady have a protective detail of CHP officers with them at all times, even when they are not together.

“They said they were looking to buy real estate in the neighborhood, and the Oakland police let them go. The CHP deferred to them, but that’s not going to happen anymore,” Brown said.

Oakland Police Chief Howard Jordan said he needed to gather more information before making a formal statement.

“We are looking into the incident to find out what happened,” Jordan said. “I don’t know why the officers let them go. I don’t want to speculate on what happened.”

Sean Maher, spokesman for Oakland Mayor Jean Quan, declined comment and referred all calls to the Police Department.

Brown also spoke about what happened Sunday night in Sacramento.

“Just a few days ago, a gentleman was found on my balcony trying to break in,” Brown told the crowd. “Luckily, I wasn’t home.”

The governor lives on the fourth floor of a loft building that has a restaurant on the first floor in downtown Sacramento.

Brown said the person broke into the building, got on the roof and jumped onto his balcony. A neighbor called police, and the man was arrested, he said.

“I think he’s out on his own recognizance,” the governor said, adding that he didn’t think the man knew it was Brown’s loft.

Sacramento police said the man, Jamal Johnson, 26, was wandering around several of the connected balconies on the top floor of the building where the governor lives around 9:35 p.m. Sunday. He was arrested for prowling without incident and is no longer in custody, said Michele Gigante, public information officer for the Sacramento Police Department.

Sacramento police worked with the governor’s CHP detail after the arrest, Gigante said. She added that police also believe that the man was not aware that he was at one point on the governor’s balcony.

San Francisco Chronicle staff writer Matthai Kuruvila contributed to this report. Wyatt Buchanan is a San Francisco Chronicle staff writer. E-mail: wbuchanan@sfchronicle.com

Article source: http://www.sfgate.com/bayarea/article/Jerry-Brown-s-homes-were-targets-of-break-ins-4457477.php

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Yes, price cuts do still happen on the San Francisco market

Jerry Brown’s homes were targets of break-ins