SOMA Grand - only 3 condos remain

1160 Mission, aka SOMA Grand, update:

This is the opening line from a SOMA Grand email I got over the weekend
"With just three homes remaining, your opportunity to purchase in San Francisco’s best valued high-rise is almost gone!"

So wait a second!?!?!?!? Do you mean to tell me there will never be a re-sale of a SOMA Grand condo???

Duh, of course there will. So to anyone who cares to listen, wait until the "new car smell" is gone and buy a "used" condo for 10% less. Or who knows, maybe 20% or 30% less depending on the market and the deal the original owner got or didn't get.

333 Main - Infinity 3BR rental

3 bedroom Craigslist rental at 333 Main St, San Francisco - Infinity "tree top".

Asking price on Craigslist is $5,400. I like to beat up the Infinity for over-priced hype - the "new car" theory of having it depreciate the moment you get the keys. But if the numbers are to be believed here... per tax records the four 3BR condos on the 8th floor all sold for roughly $1.1 million.

Per the NYTimes Rent vs Buy calculator it's a smarter decision to buy this unit for $1.1 million than it is to rent it for $5,000 after just 4 years. I recommend at least a 5 year hold plan to all my clients.

Even if you can get the rent down to $4,000 it's smarter to buy within 16 years. What I like most about this investment is that 3 bedrooms are probably the easiest to rent as they are the rarest of units in the majority of the City.

Of course you can play with the rent vs. buy assumptions to draw your own conclusions. At a 5% 30 year fixed it's 4 years, at 6% it's 8 years before it's smarter to buy, at 7% it's 16 years.

Say "hi" to your neighbors from bed

1635 California St, Unit #71, San Francisco - check out how the bedroom is on the common balcony with the elevator right there too.

An otherwise nice 2BR 2BA Condo "only" $699,000 because of it's "uniqueness"... and now in contract.

What does $400,000 buy you in Cow Hollow?

2701 Van Ness Apt #503, San Francisco. The apartment was empty, so I figured I'd do a walk thru of this Studio (or Jr 1BR). The price was $419,000 when I walked in, and essentially $399,000 when I walked out.

For all Condos priced between $350,000 and $450,000 throughout San Francisco click here.