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C L IMB R E A L E S TAT E

VANTAGE

May | 2012


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INSIDE

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BE S T OF T HE B AY Monthly featured listings

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HOME S, LOF T S & C ONDO S

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NE W C ON S T RUCT ION UP DAT E

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An update of our inventory

The latest developments in the city

REN TA L V IE W

The hottest rentals in SF

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CL IMB E V EN T S

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F E AT URED AGEN T

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W H AT ’S NE W IN SF ?

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CL IMB P E T S

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NEIGHBORHOOD SP OT L IGH T

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CL IMB CONGR AT UL AT E S

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RE A L E S TAT E C ONDO M A RK E T RE V IE W

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Home Buying Seminar Monica Burns

Local events this May

Our extended furry family Russian Hill

Achievements, good news & amazing accomplishments District 9 Q1 2012

OUR T E A M

Meet your Climb Real Estate team


BEST OF THE BAY

1018 PENNSYLVANIA 2BR/2BA + Large Studio In-law | $995,000 | Jack Su

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THE L ANDMARK 2BR/2BA | $1,395,000 | Dirk Kinley


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20 0 BRANNAN 3BR/3BA | $2,495,000 | Matt Finley


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THE INFINIT Y 1BR+Den/1BA | $629,000 | Marcus Lee


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555 NATOMA 2BR/2.5BA | $787,000 | Joshua Lawrence


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HOMES, CONDOS & LOFTS

TOP: SHOWPL ACE SQUARE LOF TS 1BR+Den/2BA | $749,000 | Dirk Kinley 170 OFF THIRD 2 BR + PRIVATE PATIO/2BA | $799,000 Kevin Gueco BOTTOM: ONE RINCON HILL 1BR/1BA | $625,000 | Matt Finley SOMA GR AND 1BR+Den/1BA | Upon Request | Kristen Stuecher


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TOP: NOPA VICTORIAN FL AT 3BR/2BA | $899,000 | Sean Sullivan POTRERO SQUARE LOF TS Jr1BR/1BA | $499,000 | Melody Hultgren BOTTOM: BRIDGE VIEW TOWERS 1BR/1BA | $510,000 | Bruce Jones LIBERT Y HILL GR AND VICTORIAN 4BR/2.5BA + 1BR/1BA In Law Unit | $2,295,000 Dirk Kinley


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NEW CONSTRUCTION UPDATE

BLU SOMA The design aesthetic of Blu is clean, simple and modern. The architects wanted to preserve the sense of open space in ord the ever-changing cityscape. Sky BLU, the penthouses, offer three floors of living area including the individual solariums an

ESPRIT PARK Central Waterfront Homes on Esprit Park are ideally situated in the Central Waterfront area of San Francisco close to Mission Bay and Potrero Originally the Schilling Wine Cellars built in 1906 and then as the headquarters for Esprit sportswear, the North Court repre


der to maximize sunlight and air. Open living spaces with floor-to-ceiling windows engage nd roof decks. Sales and Marketing by Polaris Group DRE #01499250. A development by Lennar Urban.

o Hill. Restaurants, shops, entertainment and recreation are in close proximity, and transportation is easily accessible. esents a unique melding of historic and modern 142 loft-style homes. Courtesy of Pacific Marketing Associates

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RENTAL VIEW

TOP: MODERN MARINA FL ATS 2BR/2.5BA | $6,450 BOT TOM: FURNISHED PARK TERR ACE UNIT 1BR+Den/1.5BA | $4,475


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TOP: MILLENNIUM TOWER LUXURY 2BR/2BA | $6,200 BOT TOM: CAPE HORN LOF TS 1BR/1BA | $3,700

Follow Darcy Algeo, @darcyrentals, on Twitter for the most up-to-date information on available rentals! For upcoming rentals, contact Darcy Algeo at 415.601.2775

DARCY ALGEO

Leasing Director 415.601.2775 darcy@climbSF.com DRE 01369396


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CLIMB EVENTS

Attention Home Buyers: Do you have the edge you need to conquer the market and find the home of your dreams? Are you looking for a leg up over the competition? Or are you just looking for an education on the current trends in your neighborhood? Climb Real Estate’s own Sean Sullivan will be hosting a series of FREE home buyers classes this April. The courses are designed to educate beginners on current real estate market dynamics, mortgage pre-approval and financing options, and strategies for writing a successful offer. Come by our Design Center on April 4th and 11th to get the inside scoop from one of San Francisco’s most successful agents. Space is limited so reserve your seat today. RSVP to sean@climbsf.com.

HOME BUYING SEMINAR

SEAN SULLIVAN Senior Sales Leader 415.215.0554 sean@climbSF.com

LOCATION

251 Rhode Island Street Suite 105 San Francisco, CA 94103

RSVP

sean@climbSF.com


FEATURED AGENT MONICA BURNS Senior Sales Associate | 415.244.7354 | monica@climbSF.com

Monica Burns My Name ................................................................................................................................................................................................................................................................................................. All about living in the moment I am .................................................................................................................................................................................................................................................................................................................. Waking up to sunshine, drinking hot tea on my deck, taking a nice long Perfect Day ......................................................................................................................................................................................................................................................................................... run on the beach with Cooper, enjoying a delicious late lunch outdoors with good friends, good wine, and lots of laughs.

Inspiration

Moments filled with creativity and spontaneity

.............................................................................................................................................................................................................................................................................................

Canyon swinging in Queenstown, New Zealand diving backwards from Proudest Moment ......................................................................................................................................................................................................................................................................... the world’s highest cliff jump 2011.

Thinking outside of the box while helping people achieve their dreams. Climb Is .......................................................................................................................................................................................................................................................................................................

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WHAT’S NEW IN SF?

LOCAL EVENTS THIS MAY 5 SAT

CINCO DE MAYO FESTIVAL

7 MON

BEATLES K ARAOKE NIGHT Cafe Royale

12 SAT

TAIWANESE AMERICAN CULTURAL FESTIVAL Union Square

17 THURS

SF WEEKLY “BEST OF 2012” PART Y Ruby Sky

20 SUN

BAY TO BREAKERS

26–27 SAT–SUN

34TH SAN FRANCISCO CARNAVAL Harrison Street

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GG BRIDGE 75TH ANNIVERSARY GG Bridge & Northern Waterfront

Dolores Park

Starts at Howard/Beale


CLIMB PETS

THE CHAIRMAN MEOW Owner: Katrice Shaner, Marketing Assistant

The Chairman Meow My Name ................................................................................................................................................................................................................................................................................................. A furious lion I am .................................................................................................................................................................................................................................................................................................................. Proudest Moment ....................................................................................................................................................................................................................................................................... When I learned how to open the linen closet door

Getting my mommy to wake up Biggest Challenge ....................................................................................................................................................................................................................................................................... 5 am when I’m ready for breakfast Alarm Clock ......................................................................................................................................................................................................................................................................................... Lounging in the sun on my perch by the window while mom works Perfect Day ......................................................................................................................................................................................................................................................................................... from home

Lions on the Discovery Channel Inspiration .............................................................................................................................................................................................................................................................................................. A place a stay away from. Too many dogs! Climb Is .....................................................................................................................................................................................................................................................................................................

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NEIGHBORHOOD SPOTLIGHT RUSSIAN HILL

Photo: Bernt Rostad

Photo: Andrei Taranchenko

RUSSIAN HILL VIEWS & GARDENS

DIRK KINLEY Top Producer

At 345 feet above San Francisco Bay, Russian Hill is one of San Francisco’s most magical neighborhoods — with secret gardens and panoramic views of Coit Tower, the Bay, Bay Bridge, and the city. One of my favorite past times is to climb hills and find the hidden staircases. From these walkways and staircases you can get the perspective of the real San Francisco — one that was inhabited by writers, artists and other young bohemians. Let me know if you spot the remaining octagon houses!

LEOPOLD’S

GABRIEL ROJAS Senior Sales Associate

In a world of stuffy and over-hyped restaurants with a celebrity chef’s name stamped on it, it’s a welcome relief to walk into a place like Leopold’s. It has a simple and homey interior that welcomes you. I started with the Grilled Duck Crépinettes which were great. I followed that up with the Wiener Schnitzel. This is the greatest thing since mom’s! My buddy John had the Hungarian Paprika Beef Goulash. The beef is accompanied by a gnocchi that is truly awesome. Leopold’s is a true reflection of the love that its owner and staff have for it.


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Photo: jdeeringdavis

Photo: Marit & Toomas Hinnosaar

ALICE MARBLE TENNIS COURTS

KRISTEN STUECHER Top Producer

Shhhh, a hidden Gem in Russian Hill are the Alice Marble public tennis courts. Perched at the peak of Hyde and Lombard, they offer stunning views of the Bay, Coit Tower, Alcatraz and the Golden Gate Bridge. Ace, Deuce, LOVE!!!

RUSSIAN HILL HOMES

EDIE NARRIDO Sales Associate

This affluent area has some of the most expensive homes in the city. There’s a mix of brown shingled country cottages, tall older residential buildings with Art Deco or Spanish motifs, and fine Victorian and Edwardian homes. Several streets with steep slopes have been converted into urban garden walkways such as the Vallejo Steps, Fallon Place, and Macondray Lane (inspired Armistead Maupin to use as a setting for his “Tales of the City”). A fantastic neighborhood to live in or at the very least visit! SWENSENS ICE CREAM

JENA DAVIS Sales Associate

Swensens Ice Cream (1999 Hyde Street) is delicious. Old fashioned style with big scoops and over 20+ pure flavors, Swensens Ice Cream is rich and fulfilling. Very inexpensive (cash only). Customer service is great with avery fun and friendly atmosphere.


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CLIMB CONGRATULATES


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Congratulations to Marketing Assistant, Katrice Shaner on her graduation from SF State University. She now has a Baccalaureate of Science and Business Administration with a concentration in Marketing. Great Job!


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REAL ESTATE CONDO MARKET REVIEW DISTRICT 9 | Q1 2012

CLIMB Real Estate Group prides itself on bringing clients the best coverage of ongoing trends in th housing market of 2009-2011, with all around positive statistics (some the highest in recent memor expect the market to look like over the next year.

MARKET COMMENTARY Photo: Bernt Rostad Photo: Andrei Taranchenko Signs for the San Francisco market remain highly positive: Percentage of listings accepting offers is at an all time high, monthly supply of inventory continues its downward trend (meaning higher demand for homes), and average days on market for new homes for non-distress properties is also seeing the lowest levels in years. All of these signs point to a hot market.

During the fourth quarter of 2011, new construction was incredibly hard to come by, with no new condos added to inventory. In the first quarter of 2012, however, several new developments have risen to meet the increasing demand for new homes: Madrone’s 329 new condos in South Beach, One Rincon Hill’s upcoming Phase II release with 312 units, and 201 Folsom, the followup to Tishman Speyer’s popular Infinity Towers development, with an announced 671 units.

KEY INSIGHTS

Although we saw a decline in new construction sales in 2011 overall, the 30% reduction in new condos available for immediate move in would seem to be the main culprit. Plans for new projects are scarce, especially compared to the pre-recession era, but do expect an increase in the number of pre-construction sales this year, with the gradual introduction of new developments back into the market. Another piece of breaking news has been the alarming increase in competition in the resale market with rent prices rocketing to the highest levels seen since 2001. Rent prices for two bedroom units have reached approximately $1,900 a month on average (prices not seen since the Dot-Com era boom), and with so little new inventory, resale has seen a 12% marked increase in Q1 2012. Prices on resold homes have remained consistent with 2011 so far, but with more buyers on the market, don’t expect this to last.


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he San Francisco Real Estate Market. This year has seen a dramatic rebound from the lagging ry). Outlined below are what we feel are the most essential points to take away and what we can

DATA ANALYSIS

San Francisco is currently seeing the highest percentage of listings accepting offers since 2008, at 57%, (an increase of 18% over Q1 2011). This factor, which illustrates buyers willingness to meet a sellers offered price, can be attributed to the limited supply but also to the new labor force entering the city, spurred on by social media and tech growth in the Bay Area. Homes are being snatched up at market rate across the city, but especially in high demand areas like District 9.


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REAL ESTATE CONDO MARKET REVIEW DISTRICT 9 | Q1 2012

Number of homes for sale on the last day of the month is a clear indicator of rapidity of sales. At an historic low of only 825 units for sale at the end of March 2012, compared to 1702 units in 2011, and 1918 units in 2010, this measurement indicates an incredibly strong market for resale. The lack of new construction projects in Q1 is the main cause here.


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Month’s supply of inventory gives analysts a snapshot of buyer demand, by looking at the time condos stay on the market. At 1.3, MSI has not been this low in years, reflecting a strengthening market. No big changes should be expected for MSI in the coming quarters with no major increase to supply of condos expected.

FINAL THOUGHTS

With a dramatic recovery in the District 9 market on our hands, it will be interesting to see how developers react in the next quarter. Resale should continue to be competitive with little sign of demand letting up. Also, expect more news on new construction projects (like the rumored Mission Rock, and 1415 Mission Development) as the year progresses. Please contact us with any comments or questions or to learn more about how to make the market work for you and turn a profit on your real estate investments this year.


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CLIMB REAL ESTATE GROUP #1 in South Beach. #8 in San Francisco.* Over 200 million in total sales.

* Source: SFAR MLS, 2011 condo sales (total dollar volume)


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CLIMB REAL ESTATE 251 Rhode Island Street, Suite 105 San Francisco, CA 94103 | 415.431.8888 | climbSF.com


Vantage - May 2012  

Welcome to our May issue of Vantage, Climb’s monthly online magazine. Here you’ll get a look at some of San Francisco’s most desirable prope...

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