Please... no shoes inside thank you.

Well things are starting to get interesting in the market. I've been looking hard for a picture of the realtor/agent/bitch that was showing 507 11th Ave but I've been out of luck. She's a catty one especially when you tell her you're waiting for the bottom to completely fall out of the market. That's when she begins her lecture with claims like the rest of the world is going down but she ain't seeing that in San Francisco. And that it's all about pricing properly... later I find out this particuar place (4db $1.6m) has been on the market for 2 months. Time for a price cut??? Apparently she did not think me having an agent in the east bay was a good idea because one really needs someone in the city like her. She hits the streets every Tuesday to be on top of everything. Well her job is gonna get much busier very soon. I'll probably go back in a few weeks to poke at her ego.

Not only am I seeing the same houses up for sale every weekend, I'm seeing the same people go to the open houses week after week. One place I did not see other people at was 579 6th Ave. #201. This is a unit in a 4-unit building from 1982... and it very obviously has not been updated since then. They chose to preserve the historic orange tiles and brown wood panels all over the building. This place was gross. #201 is a small 2bd, low-ceilings, stained carpets throughout (they have the gall to put up a "no shoes" soon outside), and the smell of steamed rice coming from the rice cooker. The chinese couple showing this place had the TV on as we walked through struck in awe that they are asking $650k for this shithole. We had just come from completely remodelled 2bd flats with hardwood floors that are going for 500k. This is one piece of evidence that my theory about price reduction imbalance is actually happening. People are reducing prices so fast and so ad hoc and for all kinds of reasons that we're gonna see really whack pricing comparisons. Some shitholes like this will look way overpriced and some really nice places from more desperate sellers will look like great deals.