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Watching the stocks plummet and the housing market sink is not exactly heartening news to most of us. However, there may be a silver lining to the economic downturn we are currently experiencing.
Some economic and investing experts in the media tout that the silver lining is that we are able to buy houses and stocks for bargain prices. While that may be the case, most of us probably do not know when the bottom will be, much less when stocks and housing will recover and start moving on an extended upward trend. I don't know about you, but I'm no Warren Buffet.
The silver lining I am talking about is education; the type of education that takes us deeper into understanding how our finances, credit and overall economics work. When things are good, it is easy to look past our budgets. It's easy to see ourselves continuing on the same path toward the "American Dream." Our jobs appear stable, we continue to pay our bills, get our gas (possibly grumble about the price a little) and have nice, restaurant dinners with our families.
The current credit crisis is our wake-up call. Even if we can watch the turmoil on television or read it in a newspaper and say, ‘that's not me'; it does not take much for it to become us. If we take a little more in depth look at our finances and educate ourselves more about our taxes, our mortgage, our credit and our budgets and really learn how they work, we can be one cog in the wheel of developing financial awareness that will help us through nearly any economic downturn.
Frankie Frederick - Marketing Manager
For Greg Anthony CMPS
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In the midst of all of the craziness of a collapsing financial / real estate market it is hard to think about expanding one's business. Survival seems more realistic. But I think this is also a time of opportunity. I want to be wise and position myself for the next economic expansion. One of the ways that I hope to grow my business is through an increased web presence. I have been working on a new website: www.officespacesf.com
Please check out my website soon (should be up and running within a day or so). I will be updating people regularly about the market trends that are constantly changing due to our wild economic times. So, make www.officespacesf.com a regular tab that you check on a weekly basis.
I will also be including step by step instructions for those who want to know how an office, retail or industrial lease works. Hopefully people will find www.officespacesf.com a place where they can send their friends / colleagues who want to lease commercial real estate in San Francisco.
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Most of the country is having quite a lot of trouble, but San Francisco has held up. We have a strong diversified work environment and we balanced the budget. All of these things and a good strong tech industry has helped keep us above the fray. One good indicator of home prices is the County Assessors office.
The Assessor Recorder is the department that determines the property tax base. Phil Tang's office has received 1673 requests for lower property taxes based on reduced property values. 810 of those requests did get a lower appraisal by about $137,000. Thats an 11.5% drop in the value of those homes.
Most of the reductions came in the newer developments in SOMA, Potrero, parts of the Mission and Mission Bay. The Schiller index gives us an 12% drop in home prices for San Francisco, corroborating the city Assessor Recorders numbers.
In this environment I have to say that an 11-12% drop in values is somewhat of a relief. Lets hope that San Francisco can keep those losses to low and recoverable numbers.
Thanks for Reading
Howard Bell
A web site of over 450 articles related to real estate focused primarily on property management.
http://yourpropertypath.blogspot.com/
Trade talk for the San Francisco real estate industry. Your source for property management tips, policies and market trends.
Your Property Path Amazon Store
http://astore.amazon.com/yourpropertypath20-20
super deals on agent home remodel tools
We hand picked Amazon for the tools you need
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PriceSpotter Big Reveal: Living Large At the Palms
October 6th, 2008
PriceSpotter is Curbed's asking price guessing game. We provide you with some details and pictures from an apartment listing, and you take a crack at the price in the comments. Wednesday reveal. And hey, cheaters never win, and winners never cheat!

Click the image above to view the full photogallery.
This week's divisive PriceSpotter entrant was unit #629 in The Palms, the hotel-like condo at 555 4th Street. 629 is one of the largest units in the building with four bedrooms over 2,133 sq ft, two balconies, and a spa-like master bath. Personal opinions were split, but almost everyone agreed that the listing price would fall somewhere around 1.5M. Surprisingly, The closest guess of the week was also the highest: $1,750,000 from reader A Castro Condo or a Town in Kansas. Even more surprising - that number isn't even close. The actual listing price is $2,199,000 - almost a half million more. Sharpen the axe, we've got ourselves a future PriceChopper.
· 555 4th St. #629 [MLS]
· Living Large At the Palms [Curbed SF]
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Density and Street Bills Make The Cut: Governor Schwarzenegger, whose hand has likely...
October 6th, 2008
Governor Schwarzenegger, whose hand has likely malformed into a claw after signing so many vetoes last night, signed SB 375 and AB 1358 into law with nary a moment to spare. That means, respectively, more incentives for density and transit-oriented developments, and friendlier streets for pedestrians. SB 375 will likely have more impact in L.A., where density has always been more a question than a fact of life. Then again, we've been grappling a bit with density ourselves lately. [Transbay Blog]
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Better in the East Bay: Weather, Real Estate?
October 6th, 2008
Is San Francisco's commercial vacancy rate increasing as companies move across the Bay? Hey - what's good enough for Levi's,is good enough for everyone else, right? Like its weather, the Oakland commercial real estate scene is hotter than San Francisco, and in an article singing the praises of East Bay development, The New York Times looks at the legacy of Jerry Brown, the largest upcoming construction projects in the area (re: Lennar), and the perks of building around the Bay - among them, the raw development potential of the largest available shoreline in any American metropolis; a shoreline that's rapidly increasing as refineries and military shipyards close their doors. The Bay Area: brazenly building in the face of the doomsday economy.
· Bay Area Holds Commercial Appeal Despite Stumbles of Housing Market [New York Times]
· SoMa Not Spared in New Office RE Slump
[image via rebron.org]
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Mayor To Businesses: Go Solar or Go...Just Go Solar, Ok?
October 6th, 2008
The Gav's been laying down some serious green gauntlets lately. Now that the mayor has announced his plan to green city hall, he's asking the city's biggest businesses to do the same and step up by installing enough solar panels to produce 5 megawatts of electricity. The carrot? A 30% tax credit and free solar assessment & energy audits are being offered to the 1,500 largest companies in the city if they join the Solar Founder's Circle (which sounds suspiciously like some sort of druidic cult). San Francisco's current solar output would double If all 1,500 organizations agree to the mayor's plan - producing enough cumulative energy to power 42,000 households.
·S.F. Mayor Newsom challenges city's largest businesses to install solar [SF Business Times]
·Gavin Declares Civic Center "Sustainable Resource District" [Curbed SF]
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Morning Mortgage Meltdown: No One's Buying: Mortgage applications dropped 23% last week...
October 6th, 2008
Mortgage applications dropped 23% last week in the wake of the government's failure to pass a bailout plan and with credit freezes making it harder to get a loan. The refinance index also fell by more than 34%. It's official: the economic apocalypse is upon us. DON'T PANIC. [CNN Money]
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October 6th, 2008

[Bay Bridge and One Rincon Hill, courtesy Curbed SF Flickr photog serge s.]
· The man doesn't rest: Renzo's second building at LACMA [AN]
· Walgreen's gets owned by court, tobacco ban stays [Bloomberg]
· Either Obama loves leather, or Folsom loves Obama [SFist]
· Luscious Garage turns your hybrid into a plug-in [CNN]
· Three beds, five baths, and a lot of art: $25 million [WSJ]
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Speaking of Broken Windows Theory...: The Streets and Neighborhoods Workgroup is...
October 6th, 2008
The Streets and Neighborhoods Workgroup is hoping to clean up the streets of the beleaguered SF tourist hotspots. The group is foregoing loftier discussions about things like the root cause of homelessness, going instead after the specific problems: aggressive panhandling, street pooing, wild pissing, what have you. Talk so far has focused on creating "drug-free zones" where illicit acts get a heavier smackdown. Not everyone's on the same page yet, but most can agree that "dealing crack is a bad idea." That's as good a place to start as any. [SF Gate]
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Ask Curbed SF: Cole Valley Mystery House
October 6th, 2008
In need of guidance, oh wayward one? Turn to the oracle that is the Ask Curbed SF inbox. We'll burden the masses with your problems, and they, our all-knowing readers, will command thee.

We love finding non-traditional homes in San Francisco, so we were psyched to see this question land in the inbox.
Hi Curbed. i was hoping someone might know something about this house (see attached image) in Cole Valley on Schrader street. I don't think it is new, per say [sic] but it definitely sticks out in the neighborhood. Any idea who built it or when?
We're stumped - so we turn to you, dear readers. What's the deal with the Cole Valley home for narrow living?
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Treasure Island Revamp: A View From The Street
October 6th, 2008

Speaking of Treasure Island, the project was recently recognized by AIA with a Merit Award for Urban Architecture. Among the renderings on the Design Awards page is the first image we've seen showing what it'll feel like to actually walk through the pedestrian-friendly development. Now more than just a glistening white beacon of hope, you can ride bikes and talk to people on balconies! As we move towards the 2020 completion date, what other wonders will be revealed?
[image via the AIACC]
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Crop Rotation: Victory Garden To Continue Feeding City: Come turkey day, City Hall will...
October 6th, 2008
Come turkey day, City Hall will give its thanks to the Victory Garden for its plentiful harvest, then "repurpose" it to other patches of land across the city. The veggies will be given to the San Francisco Food Bank, while the garden's spirit will live on in urban gardens in empty lots and on rooftops. Probably a good thing, as the garden was guarded around the clock just to keep out pesky thieves and wascally wabbits. As for all you Civic Center boosters: despair not. It still has a green future. [SF Gate]
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