Taking out a loan after you pay cash for a property is a great way to get a jump on your competition, if that strategy is an option. This process is called “delayed purchase financing.” Continue Reading
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Fall Market 2021 Kicks Off With New Inventory
The 2021 Fall real estate market in San Francisco is officially underway. There are presently 337 single-family homes, 701 condos and 74 TIC interests currently available, with more inventory on the way. Continue Reading
Smaller Buyer Pool? Stick With a List Price Closer To Value
San Francisco properties typically sell for more than their list prices. The strategy for our low-inventory market is expected, and buyers are used to the drill by now. List a home at ten percent or more under comp range, attract multiple offers and close with a sale price of well above list.
However, that outcome is not guaranteed—especially for properties with smaller buyer pools. These are homes that will attract more buyer objections than offers. If the property has one or more major objections, it’s a better strategy to price your home closer to the value.
There are many examples of the types of properties that will have smaller buyer pools. Here are a few: Continue Reading
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New Listing
73 Florentine
Charming 1920s single-family home with two spacious bedrooms + office and lovely mature garden with plenty of room for relaxing and gathering. Lovely period details throughout.
$995,000
See more at our Web site!
Just Listed: Sweet Crocker Amazon Home
My new listing at 73 Florentine is simply adorable. Built in 1925, the home has lovely period details like coved ceilings and picture rails. The gracious living room has multiple windows and a wood-burning fireplace, with an adjacent formal dining room separated by attractive leaded glass doors.
The bedrooms are spacious and there’s a bonus sunroom that overlooks the peaceful garden. Relax on the deck or dine alfresco outside while you’re surrounded by a lush variety of trees and plants. There’s a one-car garage with plenty of space for storage and work/hobby areas. List price is $995,000.
Check out our property Web site here for more photos and details.
We’ll be open this weekend on Saturday from 1:00-3:00 and Sunday from 2:00-4:00. Stop in and see me!
5 Seller Tips for a Successful 7-Day Close
I went into escrow on a property recently involving a cash sale with a seven-day close. What seller doesn’t want that? However, it’s important to get all your ducks in a row if you’re taking on the seven-day close. Here are five things you need to have in order as a seller if you want to successfully close in a short period of time:
1. Locate your loan details. The title company will to order the loan payoff information for your property. You’ll need to provide the following details as soon as possible, for each loan: lender name, contact number, address, loan number and estimated balance. If you’re selling a condo, you’ll also have to provide the names of the homeowners association and management company’s address and contact info, as well as the account number. The lender can take a few days to respond, which could end up delaying your fast close if you don’t have that info ready to go. Continue Reading
HowLoud: Great for Noise-Sensitive Home Buyers
One of the more interesting sites I’ve come across is HowLoud. It’s a great tool for noise-sensitive buyers who want a larger, data-driven perspective on how loud a particular location is.
You can type in an address and get the SoundScore, which aggregates noise from cars and plane traffic and other “local sources.” You end up with a number from 50-100 (the lower the number, the louder the location) that rates the noise level at a given property. Continue Reading
Just Sold: 171 Wawona and 1153-55 Florida
I’m proud to announce two closings late last week:
171 Wawona
West Portal
3BR/2.5BA, 2 pkg
Sold: $2,300,000
My clients are thrilled with their purchase of 171 Wawona, a gracious home in the heart of the highly desirable West Portal neighborhood. The house has three bedrooms and two bedrooms on the upper level, with a large primary suite. There’s a remodeled kitchen and open living/dining room. Continue Reading
5 Ways To Think Outside the House-Hunting Box
Home buyers usually have a wish list for the property type and neighborhood in which they want to be—and a budget that may not allow for all the amenities.
I learned long ago that part of my job as a real estate agent is to help clients think outside the box when it comes to getting what they want within their budget.
To give you a feel for what I’m talking about, here are five things that are typically on home buyer wish lists—and the trade-offs you can consider to get you the functionality and central location that will work for you:
1. A house with a private yard. We’ll call this the San Francisco dream. But the reality is that single-family homes in areas like the Inner Sunset, Noe Valley, West Portal or Mission Dolores, for example, are typically well above $2M. However, there’s one property type that can get you the privacy and outdoor space you need—a condo with exclusive-use outdoor space such as a deeded yard or roof deck. Continue Reading
Two-Unit Building: A Good Bet for You & Your Friend?
Many buyers who start out looking for a condo in San Francisco often end up deciding that they’ll join forces with their friends or family members to purchase a two-unit building. This can be a good decision, but it’s important to be aware of the key factors to consider when deciding whether such a group purchase is possible—or a good idea. Continue Reading
30-Year Fixed Loans Now Available for TICs
Tenancy-in-common (TIC) loans are no longer limited to adjustable-rate terms. It’s official: You can now get a 30-year fixed loan.
Part of the reason fractional loans haven’t moved beyond adjustable-rate mortgage (ARM) products is because the idea behind TICs was to condo convert in a few years. So you’d end up refinancing out of the TIC loan, anyway. Plus, the handful of TIC lenders out there wanted to limit their exposure in the riskier fractional financing market.
But condo conversion has long been suspended for buildings with three or more units, so that aspect isn’t really relevant anymore. And fractional loans have turned out to be successful for lenders, as there haven’t been many loan defaults among the well-qualified buyers who meet the lender guidelines for income, credit and assets.
Lenders are obviously now comfortable offering a longer fixed-rate term, and TIC owners, in turn, seem to be staying in their properties as long as condo owners do—-in many cases, beyond three or five years.
So for those who are wary about being exposed to a higher interest rate after an ARM adjusts in the future, a 30-year fixed TIC loan could be a good fit. Continue Reading
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Current Listing in Contract
400 Beale #1211
Lovely 2BR/2BA condo with Bay Bridge and water views. Open living, dining and kitchen floor plan. Large primary bedroom with private balcony and marble-tiled en suite bathroom. Second bedroom perfect for office/guest space. In-unit laundry, storage and one-car parking. Full-service building with 24-hour concierge, heated outdoor pool, spa, sky deck with seating areas and BBQs. Excellent South Beach location!
$995,000
See more at our Web site!
Just Listed: 400 Beale #1211
I’m proud to present my 2BR/2BA South Beach condo at 400 Beale #1211 in the BridgeView. This lovely condo has bridge and water views and is conveniently situated near the Embarcadero, Woodlands Market, Ferry Building, Chase Center, Oracle Park, Caltrain and freeway access.
#1211 features an open living/dining/kitchen floor plan, along with a spacious primary bedroom with balcony, large closet and en suite bath. The second bedroom with its French doors is perfect for guests or an office. This unit has a dedicated storage locker, in-unit laundry closet and one-car parking.
BridgeView has always been one of my favorite buildings in the neighborhood. It has a host of useful amenities like a 24-hour concierge, heated outdoor pool, well-equipped gym, and sky deck with multiple seating areas and two BBQs.
Check out our property Web site here. List price: $995,000.
We’ll be open Saturday 8/14 and Sunday 8/15 from 1:00-3:00. Stop in and see me if you’re in the neighborhood!
Just Sold: 451 Kansas #630
Congrats to my clients who just purchased the light and bright 451 Kansas #630 in The Potrero. They lucked out with a top-floor unit steps from the shared view roof deck. This 1BR/1BA has in-unit laundry, a storage locker and parking.
It’s also located above Whole Foods and within walking distance to everything in Potrero Hill. Easy freeway access and a straight shot to Mission Bay, too. The Potrero has a few useful amenities like a gym, bike racks and even a craft room.
Listed for $839,000, #630 sold for $890,000 with multiple offers. Special thanks to listing agent Peter Monti for a smooth transaction!
Mask Up for Real Estate Showings
It’s official: Everyone is requested to wear a mask at open houses, broker tours and private showings.
San Francisco real estate typically mirrors city and state guidelines, and masks are no exception. Unfortunately, not everyone is choosing to get vaccinated and the latest virus variant is surging.
I’m simply grateful that we can continue to have open houses and broker tours. That wasn’t the case for more than a year. I’m additionally thankful that we don’t have to get Covid-related paperwork prior to entering properties.
So mask up! And get vaccinated if you haven’t done so already.
Contact Eileen for Real Estate Help
Eileen Bermingham
Corcoran Global Living
415.823.4656
eileen@insidesfre.comDRE# 01352627
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