25-35 Dolores gets more resistence

The proposed development at 23-35 Dolores has hit some more resistance.   There are the usual neighbor concerns; noise, traffic, height, light and ventilation, wild life, etc…  I’ve been on that end of a proposed development too.  You can’t really stop a project, but you want to make sure it’s sensitive to the neighborhood.  As it stands, the developer wants to demolish the existing early 1900’s buildings previously occupied by S & C Ford.

The San Francisco Historic Preservation Commission feels that the buildings have architectural merit and that the facades should be kept.  The developer wants them drawn, documented and subsequently demolished.  The buildings are architecturally  interesting, but would need to seismically upgraded AND a new building shoved into the envelope and make sense in a different world from when they were built.  Quite a challenge.

25-35 Dolores-Existing (via Socketsite)
25-35 Dolores-Developer Rendering (via Socketsite)

 

 

 

 

 

 

 

The compromise is to keep the facade and build the new building behind.  It reduces the number of units-making the project financially unfeasible.

25-35 Dolores-Alternative Design (via Socketsite)

Obviously, if it costs more to building the building than the developer can sell the units for, the project won’t get built.  The existing building has no current practical use and will continue to deteriorate.

I have to say, architecturally, I don’t care for either one.  I like the old S & C Building, but we can’t keep everything.  Time to move on.

The proposed design looks like something in Mission Bay.  That’s fine in Mission Bay, but does not fit into the urban fabric of Dolores St.  Time to go back to the drawing board.  Let the developer tear the building down, BUT put in a building thoughtful to the neighborhood. Just my two cents.

West Portal Property Values

The West Portal/Inner Parkside First Quarter 2011 Real Estate Market Update

A typical street in West Portal

It has been fascinating to watch the West Portal/Parkside Real Estate Market over the years and a challenge to predict what will happen in it. In the last quarter of 2010, we had a very active quarter-one of the most active in recent memory. The beginning of 2011 has not continued that trend.
• For the first quarter of 2011, we had eight active, three pending (not yet closed), seven sold (closed) and no ‘failed to sell’ listings. At the beginning of 2010, I reported eight active listings, 12 pending (which was a very high number), nine sold and three ‘failed to sell’. Although the number of active and sold properties were stable quarter to quarter, there was more activity last year, reflected in the number of overall transactions.
• Interestingly, in 1st quarter 2010, of the nine closed properties, three sold over their asking price and four transactions received multiple offers. Conversely, in same quarter 2011, only one property received multiple offers and one other received an over asking offer. This could be indicating less buyer activity, but it could also be reflecting higher list prices, which slow down activity, as buyers wait for price reductions and for sellers to get used to the idea of a smaller sale price.
• Of the eight properties currently active on the market place, three have been on the market for over 30 days, with a fourth coming pretty close. Unless some price reductions happen in the next quarter, a few of the second quarters ‘failed to sell’ may be the first quarter’s active listings.
• I tried something new for this analysis-to look at the number of short sales and bank owned properties on the market. One bank owned property closed in fourth quarter of 2010 and one short sale is active in the first quarter of 2011. There was neither in the first quarter of 2010.
• Despite there not being a drag on the market from short sales and bank owned properties, property values in the neighborhood ranged from staying even to down five percent from the last quarter.
• Overall, the San Francisco Market seems to suffering from a lack of good inventory in preferred locations. To illustrate, in prime West Portal/Inner Parkside (Portola to Ulloa and 18th Ave. to Kensington), there are currently no active listings. This may be a good time to put your property on the market if you are in a prime area-priced for the market of course.
• In each of the years from 2005 to 2010 where there were more sales in the first quarter, we reached the normally expected sales activity. To illustrate, in 2007 and 2009, there were six and four sales respectively (with 37-38 sales for year, which is lower than expected), and all other years in that time period, it ranged from nine to 16 sales (51 to 60 sales for the year, which is expected.) Interpolating that information, and with seven sold listings in the first quarter, I’m going to predict that we will have fewer sales in 2011 than normally expected-so the economic recovery will likely continue to trudge slowly along this year.

 

Remodeled 3 Bedroom West Portal Home

Welcome to 153 Granville

Period detail, fantastic location and thoughtful remodeling come together in this large Marina Style home with three levels of space.

153 Granville has 3+ bedrooms, 1+ baths and a  1+ car garage.  All for $1,189,000 which is a fantastic price for this vintage home, with original gum wood trim and paneling.
You are warmly welcomed on the main level of this elegant home in the formal entry. Both the living and dining rooms ooze charm with hardwood floors, period woodwork, coved ceilings, built-in cabinetry and a wood-burning fireplace.
The kitchen is the most recent upgrade with many thoughtful details.  The bedrooms and lower level enjoy Ocean views.  The garage, accessed from the rear of the home, generously accommodates one plus cars and additional storage.

Open Sunday, April 17th, 2011 2-4pm.

WestPortalCharm.com

Living room with wood burning fireplace
Formal dining room with paneling, hardwood floors and coved ceilings

The West Portal/Inner Parkside First Quarter 2011 Real Estate Market Update

By Eric Castongia, Zephyr Real Estate

It has been fascinating to watch the West Portal/Parkside Real Estate Market over the years and a challenge to predict what will happen in it.  In the last quarter of 2010, we had a very active quarter-one of the most active in recent memory.  The beginning of 2011 has not continued that trend.

  • For the first quarter of 2011, we had eight active, three pending (not yet closed), seven sold (closed) and no ‘failed to sell’ listings.  At the beginning of 2010, I reported eight active listings, 12 pending (which was a very high number), nine sold and three ‘failed to sell’.  Although the number of active and sold properties were stable quarter to quarter, there was more activity last year, reflected in the number of overall transactions.
  • Interestingly, in 1st quarter 2010, of the nine closed properties, three sold over their asking price and four transactions received multiple offers.  Conversely, in same quarter 2011, only one property received multiple offers and one other received an over asking offer.  This could be indicating less buyer activity, but it could also be reflecting higher list prices, which slow down activity, as buyers wait for price reductions and for sellers to get used to the idea of a smaller sale price.
  • Of the eight properties currently active on the market place, three have been on the market for over 30 days, with a fourth coming pretty close.  Unless some price reductions happen in the next quarter, a few of the second quarters ‘failed to sell’ may be the first quarter’s active listings.
  • I tried something new for this analysis-to look at the number of short sales and bank owned properties on the market.   One bank owned property closed in fourth quarter of 2010 and one short sale is active in the first quarter of 2011.  There was neither in the first quarter of 2010.
  • Despite there not being a drag on the market from short sales and bank owned properties, property values in the neighborhood ranged from staying even to down five percent from the last quarter.
  • Overall, the San Francisco Market seems to suffering from a lack of good inventory in preferred locations.  To illustrate, in prime West Portal/Inner Parkside (Portola to Ulloa and 18th Ave. to Kensington), there are currently no active listings.  This may be a good time to put your property on the market if you are in a prime area-priced for the market of course.
  • In each of the years from 2005 to 2010 where there were more sales in the first quarter, we reached the normally expected sales activity.  To illustrate, in 2007 and 2009, there were six and four sales respectively (with 37-38 sales for year, which is lower than expected), and all other years in that time period, it ranged from nine to 16 sales (51 to 60 sales for the year, which is expected.)  Interpolating that information, and with seven sold listings in the first quarter, I’m going to predict that we will have fewer sales in 2011 than normally expected-so the economic recovery will likely continue to trudge slowly along this year.

Eric Castongia, Residential Sales Specialist at Zephyr Real Estate provided the information in this article.  The content provided is an interpretation of data from the San Francisco Association of Realtors Multiple Listing Service and Eric’s observations in the marketplace.  Eric can be reached by e-mail at Eric@SFHotBuy.com, or via mobile phone at (415)307-1700.