"Known Short Sales" in San Francisco

Keep track of Short Sale listings in the San Francisco MLS, today, March 12th brings us 47 Condo/Loft/Coop/TIC listings with the "Known Short Sale" box checked in the MLS. The list of the 47 can be found by clicking here (only available for 30 days).

For more info on any of these listings you can enter the address in the quick search section in the left column of this blog.

I ran a similar search on Sept 1st 2008 and found only 13 Short Sales. Of course this could have as much to do with the fact that SFAR (San Francisco Association of Realtors) only recently introduced the "Known Short Sale" check box back then. But just as interesting are that Pacific Heights has 2 Short Sales and Nob Hill has one.

Interestingly these also make a case for the "location, location, location" mantra. All 3 are within 2 1/2 blocks of each other along the 3 busiest thoroughfares in the area.... Van Ness, Franklin and Gough.

Not a surprise to me are the increasing number of short sales at The Beacon with 6 at the 250-260 King St complex. Also not a surprise, 19 of the 47 Short Sales are in SOMA/South Beach/Mission Bay, with virtually every major building that has been open at least a year having one. That includes One Rincon Hill, The Metropolitan, The Palms, Watermark and Bridgeview. In early February I wrote about "The Coming Foreclosure Wave" in this part of town due to an over supply and off the charts prices buyers have been paying for the "new car" smell of new condos in the area. Well, here they come.