Is the market cooling? Are there fewer buyers? Are these condos not priced properly in the market?
One would think that using ugly colors (and ones that don't look good
together) on the site of a former paint store should not be allowed by
the citizens of San Francisco!
It's all about balance. And about designing legislation that meets your desired goal. Or perhaps that is exactly what is happening here.
Condos have been selling in Telegraph Hill, and several lovely homes are currently on the market.
Well priced condos in North Beach continue to sell when they are properly presented to the market.
As I moved around the city, I hit some patches of sunshine and warmth. I realize that this is a good metaphor for the current real estate market.
What a difference a year makes. The snapshot of the North Beach condo market last year looks very different than the current year...
"We have a weakening market, but not a free-falling market." Ken Rosen, Chairman of the Fisher Center for Real Estate and Urban Economics at UC Berkeley in an article in 1/23/09 SF Chronicle Article.
unscientific, it's true, but 'hot' and 'desirable' have always been in the eyes of the beholder...
Before we get started, it is important that you understand that the conversion of units to condominiums is governed by local and state laws. For buildings with four units or fewer, San Francisco City and County laws govern the process. For larger buildings (five or more units), the California Department of Real Estate (DRE) regulations also apply. These laws and regulations can change at any time.