Listing summary: 300 Beale St

Prompted by a client who is looking for a condo in a low - to mid-rise building around the new Transbay development, I toured two listings at the Embarcadero Lofts during Tuesday Brokers Tour. A historic building conversion designed by noted architect Frederick H. Meyer, done with style and an attention to detail, both units are on the 6th floor penthouse level with large patios.

Unit #611, 2 bedroom/2.5 bath on two levels, approx. 1,800 sq. ft.



Listing courtesy: Jaime Vigil, Alain Pinel Realtors

Unit #609,, also 2 bedroom/2.5 bath on two levels, approx 1,800 sq. ft.



Listing courtesy: Barbara Callan, McGuire Real Estate

In general, it is a well done conversion with character and class. A good alternative to those who love the convenience of the location (two short blocks to the Embarcadero and the new high-speed rail which will take you from your front door to L.A. in under 3 hours), yet prefer a smaller, more intimate building. Will most likely be surrounded by spectacular new high rise buildings in the next 5 years.

Note: There is a third unit on the market as well, on the 4th floor, for the same price (all three listed at $1,395,000). It wasn't open on Tuesday Tour so I have no feedback to report this week. Stay tuned...

Dow closes with best month in 6 years

Tepid signs of recovery or dead cat bounce?

For the first time in 17 months, the bulls have credible ammunition for stocks: There are tentative signs of stabilization in the U.S. economy and banking system. The bulls face their own stress test in April, however, as results of the Treasury Department's banking review or corporate first- quarter profit reports could wipe out recent gains.

The Dow was recently up 84 points, or 1.1%, at 7606. The Dow is up about 8% for the month to date, its best gain since October 2002, which turned out to be the bottom of the last bear market.

Helping the Dow, which was down 254 points Monday, was a gain for all of the blue-chip measure's financial companies. Also, shares of Microsoft were up 5.4% to $18.43 after an analyst upgrade citing improving personal computer demand in the U.S. and China. Shares of PC maker Hewlett-Packard Co., another Dow component, rose 0.5% to $32.28.

ARTICLE: MARKETWATCH

New plans (again) for proposed high rise at Golden Gateway Tennis and Swim Club

The design and compromise process continues, with the latest being

...a new design from Skidmore Owings & Merrill, the property’s latest developer, San Francisco Waterfront Partners, is betting that a combination of 28,000 square feet of public green space and much needed public parking will prevail over the opposition from 1,600 passionate club members and some residents.

The latest proposal combines the club and the port-owned Seawall Lot 351, giving SFWP room to build between 140 and 170 housing units as well as a fairly large park with a restaurant and café. Tennis would be scaled back from nine to four courts and the swimming pools would be moved on top of a building occupied by both the restaurant and club facility.

ARTICLE: BIZ JOURNAL

Statistics on investment and second homes

For those of you looking for a pied-a-terre in San Francisco's real estate market, here's some information on the state of the sector, nationwide:

The number of people buying vacation and investment homes fell 30 percent last year, according to the National Association of Realtors.

But, those who are buying are doing so with cash – with more than four out of 10 investment buyers and more than three in 10 vacation home buyers coming to the table with money up front. ...

The market share of homes purchased for investment was 21 percent last year, unchanged from 2007, while an additional 9 percent were vacation homes, down from a 12 percent market share in 2007, according to NAR.

ARTICLE: BIZ JOURNAL

Construction progress at One Hawthorne

One of the only new developments under construction at this time, One Hawthorne is rising from the ground and has poured just under 50% of the floor plates.

Today:


Proposed:


COURTESY: SOCKETSITE

78% of first time homebuyers say now is a good time to buy

According to a survey commissioned by Century 21:

The survey found that more than three-quarters (78%) of potential first-time home buyers say that now is a good time to buy a home, despite widespread concern about the economy. Out of the 1,000 prospective U.S. first-time home buyers ... 68% think now is a better time to buy than six months ago.

Prices are the driving motivation for potential first-time home buyers with more than eight out of ten first-time home buyers (85%) saying they consider current home prices affordable and 73% citing that taking advantage of current prices is a major factor in their decision to buy.

Interestingly, potential first-time buyers are still split between “being willing to consider an offer now” (42%) and “waiting for prices to go down before they seriously consider making a purchase” (48%).

ARTICLE: RISMEDIA.COM

Commentary: More public input for 1st and Folsom project, says King

John King, of the San Francisco Chronicle, weighs in this week on the behind-the-scenes planning surrounding the proposed development project at 1st and Folsom Streets.

Now there's another competition just two blocks away, the grand prize a site with room for a 60-story tower at a major entrance to the Financial District. But only three teams bothered to respond - and the way the rules are currently written, the public won't be allowed to glimpse any of the proposals until the city selects a winner.

What's different this time is that the sale of public land doesn't include a scenario where the public can glimpse the competing visions.

Instead, a staff report this month shrugs that "the details of the proposals, including the concept designs ... will remain confidential until a recommendation of a development team is forwarded to the (redevelopment) Commission for exclusive negotiations."

ARTICLE: SAN FRANCISCO CHRONICLE