Just Sold: Potrero Single-Family Home

Just Sold: Potrero Single-Family Home

My clients closed late last week on 162 Missouri, a spacious single-family home in a prime neighborhood location just down the street from the 18th Street corridor.

With two large bedrooms at the rear and a bright living room with peekaboo downtown views, the home features the center patio floor plan, with additional rooms and bath down. The garden has mature fruit trees and gets plenty of sun. Sale price was $2,000,000.

We competed with many other buyers for the home, and I’m thrilled for my clients that they will soon be moving into 162 Missouri.

Inventory Glut Hits Luxury Condo Market in San Francisco

Buyers looking for a condo in the $2M+ range are in luck: There’s plenty of inventory from which to choose.

The numbers tell the story. There were just under 150 active condo listings from $2M+ as of Friday. On the other hand, only 26 condos in this category are actually in contract, and 56 listings have expired or been cancelled since July. Continue Reading

Is Adding An ADU the Right Move For You?

The climate is ripe for adding housing in San Francisco, and that extends to the city’s efforts to make adding an accessory dwelling unit (ADU) to a property easier. But whether you should move ahead with “legalizing” an existing in-law apartment—or creating one—depends upon what type of property you own.

If you own a building with three or more units, adding another one won’t really introduce new use restrictions on the building or resale complications. Continue Reading

1BR Condos a Good Bet for First-Time Home Buyers

A one-bedroom condo—especially one with a den or office area—is an excellent option for first-time home buyers. This type of property truly exemplifies the concept of getting your foot in the door of San Francisco real estate, and aiming to build equity with the goal of trading up in a few years.

The average price of a one-bedroom condo citywide is $876,707 (based on sales from July 1-Sept 30, 2021). If your price range is under $1M, targeting conveniently located one bedrooms is the way to go.

There are currently 242 one bedrooms on the market, so you have plenty to choose from. The one bedrooms that will have the best chance of appreciating have parking, on-site laundry, a good location near retail and public transit and HOA dues that aren’t excessively high. I set out to find some properties that meet this criteria and which I think are well worth considering at the moment. Continue Reading

Just Sold: South Beach Bridge View Condo

Just Sold: South Beach Bridge View Condo

We just closed the sale of 400 Beale #1211, my 2BR/2BA South Beach condo listing that featured Bay Bridge views, private balcony, in-unit laundry, parking and storage. The property was very popular with buyers looking for a spacious, good-value condo in the neighborhood. List price was $995,000 and we closed at $1,050,000.

There are 47 2BR active listings in South Beach at the moment, but only four are priced below $1.2M. The rest range in price from $1.2M to $3,655,000. Fetching top dollar these days are the brand new construction buildings surrounding 400 Beale like The Avery, Lumina, and Mira. The best values can be had at buildings like 400 Beale, which was constructed in 2002 yet has amenities like 24-hr concierge, pool, gym and sky lounge.

Congrats to my sellers, as well as the new owners of 400 Beale #1211!

September 2021 Market Check: How Are We Doing?

September 2021 Market Check: How Are We Doing?

September sales are in, and it looks like the San Francisco single-family home and condo markets are as robust as ever—assuming certain property attributes and locations are in play.

Here’s what’s going on, based on sales from September 1-23, 2021:

Single-Family Houses
Number sold: 165
Median price: $1,795,000
Avge overbid: 12.24%
# houses overbid 20%+: 70
Everybody loves a single-family house in San Francisco. The homes that really fly off the shelves have three or more bedrooms, additional space for guests or a family room, parking and a desirable location. Almost half of these homes sold for more than 20% over the list price. There were a few eye-popping sales this month; those never seem to get old. Here’s the lineup:

121 Theresa | Mission Terrace
3BR/2BA, 1664 sq ft
List price: $1,525,000
Sale price: $2,250,000
Percent over list: 47.5
(Photo courtesy of Compass) Continue Reading

Crocker Amazon Home Seeks New Owners

Crocker Amazon Home Seeks New Owners

My listing at 73 Florentine in Crocker Amazon is an adorable home. It checks all the boxes—large living room with fireplace, formal dining room, two big bedrooms and a sunroom.

There’s also a beautiful, peaceful garden with mature trees and plantings, as well as a spacious garage with expansion potential.

Check out photos and details at our property Web site here.

List price is $995,000. We’ll be open this Sunday 9/26 from 1:00-3:00. Stop in and see me!

What You Need To Know About Rentbacks

A “rentback” in real estate is when the sellers stay in the property for an agreed-upon period of time after the close of escrow. The reason sellers typically need rentbacks is because they need the proceeds from their sale in order to purchase their next home.

I am not a big fan of rentbacks, because most buyers want to gain possession of their new home after they close, for a variety of reasons. But if you’re considering requesting or granting a rentback, here are a few important things to know before you agree to one:

1. Execute and sign a “Seller in Possession” addendum. This is also called a rentback agreement, and it specifies all the details of the rentback. These include the length of time the seller can remain at the property after the closing date, whether the seller will pay the buyer a fee to stay in the property and who will pay utility costs during the rentback period.

2. Consult an attorney before you agree to let the seller remain in the property. A rentback technically is a form of tenancy, and things can get complicated if the rentback is more than 30 days. Most sellers don’t have intentions to keep hanging out indefinitely, but it’s a wise idea to avoid those scenarios. I recommend limiting the rentback to 29 days. 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

Untitled

Untitled

Listing in Contract
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

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

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

Contact Eileen for Real Estate Help

Eileen Bermingham

Corcoran Global Living

415.823.4656

eileen@insidesfre.com

DRE# 01352627

⇧

Back to Top

⇧

Back to Top

Show All
Marina
Mission