Happy Thanksgiving!

Happy Thanksgiving!

Thank you to all of you who’ve been reading my blog faithfully over the years, as well as to those who have connected with me and have done business with me this year. I am truly grateful for those opportunities.

May you have a fantastic Thanksgiving, and I’ll see you back here next week!

Extreme Overbidders Place High Value on the Potential

Extreme Overbidders Place High Value on the Potential

Prices for single-family homes that need work or have great development potential are hitting all-time highs in San Francisco. Buyers looking to fix up properties for themselves are duking it out with developers, particularly if the properties are in desirable neighborhoods.

With prices soaring well past $4,000,000 for large, newly renovated homes in areas like Noe Valley, buyers feel justified paying $2,000,000 or more for their project house.

Take 818 Douglass in Noe Valley (see photo), a Victorian fixer listed for $1,095,000 and snapped up by a developer for $1,810,000. He’ll undoubtedly go on to vertically and horizontally expand the property and flip it for $5,000,0000 or more, justifying the 65% over asking paid.

And then there was 43 Everson in Glen Park, a 4,000-square-foot view home that needed updating and featured this kitchen:

Cash buyers just forked over $2,350,000 for that one.

One of the popular properties on the market now—taking offers today, about a week after coming on the market—is 51 Mirabel ($895,000) in the hot Precita Park area of Bernal Heights. The Victorian home’s kitchen and bathroom are situated at the front of the house, with a bedroom on the main level and an additional room downstairs accessed via the back staircase. Though some may think Mirabel is move-in ready, it’s likely the prevailing buyer will be paying money for a major renovation project.

What You Need to Know About SF Property Taxes

In honor of property tax season, I wanted to round up property tax basics for all of you future homeowners. There’s a lot to know, and property taxes are something you don’t really think about until you’re scrambling around trying to pay them on time.

And if you’re a current homeowner, be aware that your payment will be delinquent after December 10th!

Here’s what you need to know, in a nutshell:
Property taxes are based on a percentage of your home’s value. The property tax rate changes slightly each year. For example, for the tax year 2011-12, the rate was 1.1718%. But for 2012-13, it’s 1.1691%.Continue Reading

Coming Soon and Off-Market Opportunities: November 12, 2015

Off-market land is quiet this week, but that’s probably because inventory is slowing down in general. Here are my picks for this week’s up-and-comers:

216 Yerba Buena / Monterey Heights
2BR/2BA home with expansion potential, 2 pkg

130 Vienna / Excelsior
4BR/3BA + two bonus rooms up, 1 pkg

Sunnyside Single-Family Home
2BR/1BA Marina-style home, huge garage
Price upon requestContinue Reading

Buyers and Sellers: Use October Sales as Your Guide

We’re well into the Fall real estate season, and the holiday home stretch is just around the corner. October numbers will be the best guide for buyers and sellers as they respectively decide how much to offer and how much they want for their homes.

Here’s where we are right now in the market.Continue Reading

Just Listed and Sold: Off-Market Home in Potrero

Just Listed and Sold: Off-Market Home in Potrero

I just represented the seller in an off-market sale at 1133 Wisconsin in Potrero Hill. One of the neighbors was interested in purchasing the house, and my client decided to forego the disruption of staging, painting and preparing the house for sale in favor of a private transaction.

The home has two bedrooms, one bath and a deck with Bay views. There’s also a large garage, and the location gets some of the best weather in San Francisco!

Special thanks to Pacific Union’s Rob Costabile, who represented the buyer. Kudos, as well, to Michael Ostby at First Republic for handling the loan, and First American’s Kevin Thompson for a stellar escrow.

Final sales price was $895,000.

SoMa’s Sapphire Slashes Prices

SoMa’s Sapphire Slashes Prices

The sales team at 252 9th Street in SoMa, known as Sapphire, has been marketing its 15 well-appointed new condos since September. Though some of the units are in contract, there are still plenty available. And prices are about to be slashed significantly.

Savvy buyers, take note: Sapphire offers one- and two-bedroom condos that feature European oak hardwood floors, high ceilings, kitchens with Bertazzoni gas ranges, and washer/dryer hookups. Amenities include patios or balconies in select units, a fantastic roof deck with amazing city views, bike parking, storage lockers, and elevator service to all levels. HOA dues are in the $400-$500 range.Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate



BRE# 01352627

Back to Top

Back to Top

Show All