Divisadero Farmer's Market to remain open till Dec 28th

Gotta assume that the organizers are happy with the turnout at the Divisadero Farmer's Market on Divisadero @ Grove Street in NoPa, as they just announced that they'll remain open through the fall, until December 28th!

Divisadero Farmer's Market [official site]
NoPa Farmer's Market begins trial run on July 13th [SFHomeBlog]

Pfizer moves to Mission Bay

It’s a good sign for all the new developments in Mission Bay that Pfizer just announced the corporate headquarters for their Biotherapeutics and Bioinnovation Center are moving from South San Francisco to the Mission Bay.

"This move to be next door to U.C.S.F.'s Mission Bay campus will position Pfizer's Biotherapeutics and Bioinnovation Center for success in the aggressive pursuit of the most exciting and innovative science and the recruitment of the very best scientists," said Corey Goodman, Ph.D., President of the Pfizer Biotherapeutics and Bioinnovation Center.

Our mayor Mr. Gavin Newsom is quoted in classic politico speak as saying that it is ‘…a clear indication that Mission Bay is one of the nation’s premier life science centers’ and I for one hope that turns out to be true. More people to support some of my favorite arts, the Ballet, Symphony and Opera, plus interesting intelligent clients to work with, count me in.

Assuming Pfizer becomes the first of many 'anchor tenants' if you will ….the question becomes what buildings will emerge as the front runners in the Mission Bay development housing game? My early money is on Esprit Park. New idealistic developers, run by an experienced, detail-oriented agent who knows what sells and what is the ‘right’ thing to do. Great location - across from a park and a block from a Blue Bottle Coffee serving Café…a short decent walk to Potrero shops and Café Mama – I endorse. Ok so they are a bit ‘off’ on their delivery dates. You cant rush perfection – let’s hope it is perfect by the time it’s done.

I looked but was unimpressed with my preview of the Radiance (warning irritating music on web site), - but they do throw a great party. With the exception of the water facing units, which will be nice, and rare in their own way, the building felt too….I dunno…vanilla. The fire pit overlooking the water was also a possible serene outlook, but a little too open to all the other units for my liking – nice to overlook I suppose if they keep it lit.

Sometimes it’s hard to tell what a building will shape into until it’s occupied. My worst bet early in my career was pooh poohing the Oriental Warehouse - which although the sound transferrance is abysmal - has maintained some impressive resale values and continues to be one of the most highly sought after South Beach conversion loft buildings.

I’m also hearing good initial responses from the Arterra (see note about music on the Radiance) – it ‘smells nice’ which counts for much in this world of toxic building and chemical sensitivities. I’m thinking despite the location that building will also hold it’s value in years to come.

I’m starting to like the look of Mission Bay, and may I say it’s been a L O N G time coming….let’s see what happens. Biotech Alley…urban density and a cure for cancer - how can it be a bad thing?

Feng Shui for Architecture Design and Environment

Feng Shui often gets a bad rap among conservatives, mostly in my opinion, for good reason. The little chimes and Ba-Gua's most people use are nothing more than superstition, although the information they attempt to mimic is rooted in science that has been studied....well, for a long long time.

Why did I start to pay attention to Feng Shui?  Because as a real estate agent, I noticed, after a while - that certain properties, seemed to go on the market every year or two, repeatedly.  To me that was an indication that for whatever reason, it was impossible for the occupants to get comfortable and settle in.  

Even within the same Condo complex, certain units will constantly change hands while others stay settled - and that is true even for units with identical floor plans and finishes.  Unit 1 will change hands 3 times in a five or seven year period, while Unit 2 (same floor plan flipped) stays put for years.   

I have a confession, I have not yet had my home 'Feng Shui'd' if you will.  The reason is simple, a Feng Shui master is expensive and VERY hard to come by which is why the true masters end up working for the high end homes and corporate clients. 

If you are interested in learning a little more my favorite web site is maintained by an architect friend of mine, Simona Mainini, located in LA county.  For most people flying her up to consult on their home will be too cost prohibitive, but her newsletter is free and full of interesting facts and information.

FengShuiArch.com  

For those who are just curious, like myself...

NoPa Farmer's Market begins trial run on July 13th

From The Tablehopper:

...a ~NEW DIVISADERO FARMERS' MARKET~ begins a three-month trial period on Sunday July 13th! Rad. It's through the Pacific Coast Farmers Market Association, who also do the weekly Fillmore market. The NoPa market will be hosted in the parking lot at Divisadero and Grove—yes, the lot by the old Brother-in-Law's BBQ pit, and the medical Mary Jane trailer. (Now you can get a different kind of herb.) Everyone in the neighborhood, and nearby, please come out and support this market! Sundays 10am–2pm. Divisadero St. at Grove.

The neighborhood has been working on this for quite some time now (it was originally going to be in the Panhandle @ Ashbury Street, but too many folks complained about potential traffic and parking problems- imagine that!).

Congrats to the organizers for getting it done, and I wholeheartedly echo Marcia's sentiment: please support this farmer's market, and it'll be more likely to return next summer!

Discussion Tuesday on Proposed Divisadero Transit Changes

One of the transportation elements, and possibly the most controversial (due to the parking restrictions) of the very impressive Divisadero Streetscape Renewal is up for discussion this coming Tuesday. The city is inviting anyone with an interest to come hear the proposal and weigh in - or forever hold your peace.

Improving transit service along the street is one of the goals of this project. The 24 Divisadero bus line currently averages only 5.4 mph in this area due to traffic congestion, so part of the overall proposal includes a part time transit lane in the southbound direction from Fulton Street to Oak Street. To create space for this lane, which can also be used by taxis and right turning traffic, no parking would be allowed Monday to Friday on the west side of the street from Fulton to Hayes between 4 and 7pm. The existing tow-away lane from Hayes to Oak would be extended one hour.

The proposal is to install the transit lane this year to see how it works before the streetscape improvements occur in 2009. We will monitor how the change affects transit and traffic, and feedback w ill be solicited from people in the area so that the design can be modified and improved as necessary. We understand that there are tradeoffs involved with this proposal and want to work with you to determine the best design.

We invite you to a meeting to discuss the details of the proposal and to answer any questions you may have.

The meeting will take place at:
Club Waziema, 543 Divisadero Street
Tues June 10, 5pm to 6:30pm

SFMTA Notice [SFGov]
Divisadero DPW Great Streets project and MTA Traffic Study Update [SF DPW]
Divisadero Streetscaping to begin in Spring 2009 [SFHomeBlog]

The Giant Pool of Money - The Hands-Down Best Explanation of the Credit Crisis

I've read more articles and descriptions of the Sub-Prime Mortgage Mess and current 'credit crisis' than I care to admit.

It wasn't that I was looking for answers myself, per se. And I always felt I had a fairly good handle on what went down from having witnessed it, more or less, from my front row seats.

Really, I kept looking because I was searching for someone, intelligent - neutral and capable of telling the story in its entirety in order to better explain the situation to my clients. Mostly because they were getting a lot of sound bites with very little substantive answers.

There was a Money magazine editor who tried - and he did a pretty good job. A NY Times article came out last year that was also really good, a bit technical, but fair I thought. Almost all the blog postings I came across that attempted it ended up with extreme views on either side, 'greedy mortgage broker' this and 'evil stock broker' that, fueled by the 'always deceptive real estate agents'...

...(Cue the angel music)- then along came Ira Glass. My hero!

All joking aside - this week's free download of This American Life narrated by Ira Glass, entitled 'The Giant Pool of Money', single-handedly explains, in layman's terms, what happened, why it happened, and how it affects everyone - not just those who are homeowners or those who are facing foreclosure. I have to say, there wasn't any description or story included that I disagreed with, and more to the point I learned several things that I previously did not know.

I highly recommend taking the time to download and listen - you can also subscribe to the podcast for free at the iTunes Store where they post a new podcast every Monday. It is well worth the time regardless of whether you are a past, present, future or never-to-be homeowner.

And ultimately, the current credit crisis has ended up impacting everyone. More so than I even realized before listening to this podcast myself.

Read more about the episode here.

Download the MP3 of the podcast here.

To Rent Control or Not to Rent Control - That is the Question - Prop 98 Heats Up

From today's SFGate,

Proposition 98 was written as a restriction on eminent domain that would prohibit the government from taking property for the benefit of a private party. Opponents say it would do far more: define "private" and "take" in terms so broad as to effectively overturn the state's approach to managing development and affordability.

The clause attracting the most attention is one that would ban government-imposed limits on what landlords can charge tenants. The change wouldn't affect existing leases, but once renters move out, property owners in cities with rent control laws, such as Berkeley, Oakland and San Francisco, no longer would have to limit price increases on those units. [more...]


Differing views on measure to end rent control [SFGate]
How Rent Control Drives out Affordible Housing [CatoInstitute]

Individual Tax Bills for Tenancies in Common One Step Closer

As we first reported back in September of last year (courtesy of the 'head's up' from Gordon over at Plan C), it looks as though Phil Ting from the San Francisco Real Estate Assessor office is looking to make good on his offer to help clarify the oft confusing, record keeping nightmare facing many Tenancy in Common owners come tax time.

As it stands, there is one stunning tax bill sent out to all Tenancies in Common, regardless of how many individual units exist within the TIC, or how long the TIC has been in existence. That tax bill, in it's simplest form, is split by the individual owners based on their percentage of ownership of the Tenancy in Common. The trick begins once an owner sells, or remodels - thereby triggering a reassessment (aka increase) in property taxes - the increased portion of the tax bill then becomes the responsibility of the offending owner whether they are the new kid on the block or someone looking to update.

Now, take a six unit TIC that's been around for oh, I dunno, say 10 years, which has seen several resales, a few remodels, and voila! - Dante's Hell of accounting.

To stave off any confusion, Ting plans to send out notices in July to all known Tenancies in Common, along with the yearly notice of assessed value, clarifying the city's policy on separate assessments for TICs and how to request one. It's important to note that simply getting a separate tax bill does not exclude every owner of the TIC partnership from being liable for both their share as well as the whole, in the event one owner falls behind. Thus reiterating the importance of a great TIC agreement and reserve account.

S.F. may clarify TIC units' tax liabilities [SFGate]
Calling ALL Tenancy in Common Owners [SFHomeBlog]
Mapping San Francisco's TICs [SFHomeBlog]

A Tale of Two Cities - A breakdown of Active Listings in San Francisco

Tuesday Tour and Tax Day prompted me to run a few numbers on the Active Listings in San Francisco. The total number of active real estate listings, not pending or contingent, and excluding any of the numerous new development listings that are not currently in the multiple listing service, totals 1545.

What caught my attention was the fact that close to half of all listings in San Francisco (42% to be exact) are in Districts 9 and 10 whereas only 58% of all active listings are in the entire rest of the city Districts 1-8.



On some levels the contrast is not as sharp as it initially appears, only in so much as Districts 9 and 10, which include South of Market, Potrero Hill, Bernal Heights, Mission Bay, Excelsior, Bayview, and Hunters Point take up geographically a large percentage of the actual land mass of the city and county of San Francisco, so one would expect there to be more listings.

Originally, I was looking to find, out of all the Active listings, what percentage had gone through price reductions (roughly 5%). However there was such a huge difference in the number of price reductions on a District by District basis that I ended up snooping further (District 9 had by far the most at 7% vs more or less 4% on average for the rest of the Districts in the city).
What do I make of it?

Looking for the best negotiating room in San Francisco....head South. The Northern portions of the city are still seeing multiple offers for move-in condition well priced product. If you're a Seller and you need to sell in South of Market - price it appropriately (well that goes for all of SF really, mistakes are just going to be more forgiving in the traditional neighborhoods).

S.F. OKs plan for 6,000 housing units

From today's SFGate,

The San Francisco Board of Supervisors approved two plans Tuesday that would add high-rises and thousands of residents to the upper Market Street area.

The first plan is a sweeping rezoning of the so-called Market-Octavia area, which stretches up both sides of Market Street from Ninth Street to Noe Street. The effort is nearly eight years in the making and was inspired by the demolition of the Central Freeway and its ramps extending north and west from Market Street following the 1989 Loma Prieta earthquake.

The city Planning Department sought to remake the area with an emphasis on walking and public transportation by concentrating new housing close to major transit stops. The zoning allows developers to construct buildings that pack more residential units into a project, including boosting tower heights from 20 stories to 40 stories on some parcels near the intersection of Van Ness Avenue and Market Street.

Officials estimate the plan could mean an additional 6,000 housing units in the Market-Octavia area. [more...]

S.F. OKs plan for 6,000 housing units [SFGate]
Progress on Octavia Boulevard housing? [SFHomeBlog]
RFPs issued for Octavia Boulevard housing parcels [SFHomeBlog]
Market-Octavia plan mired in red tape [SFHomeBlog]