Last-Ditch Summer Blog Break

Last-Ditch Summer Blog Break

I’ll be trying to squeeze in some rest and relaxation before the big Fall real estate season starts in September. But I’ll be back during the first week of September with the deets on my new Bernal listing.

Enjoy the rest of your summer and I’ll see you in September! Thanks again for your continued readership, and for reaching out to me for my real estate services. I look forward to helping many of you find new homes this Fall!

Coming Soon and Off-Market Opportunities: August 19, 2015

Here are my picks for upcoming and off-market listings this week:

12 Winfield / Bernal Heights
2BR/1BA top-floor condo, 1 pkg
$899,000

355 Buena Vista Ave East #506W / Buena Vista-Ashbury Heights
1BR/1BA, 855 sq ft, 1 pkg
$788,000

555 Filbert St / Telegraph Hill
3BR/2BA renovated, top-floor TIC, 1 pkg
$1,695,000Continue Reading

SF Real Estate Sees Its Share of Summer Overbidding

The summer may have quieted down the market a bit in San Francisco, but that doesn’t mean prices are softening or that buyers have backed off from extreme overbidding (25%+ above the list price). In fact, we have three cases this month of irrational overbidding, too (50% or more over asking).

Of the 74 sold houses so far in August, 23 of them sold for 25% or more over asking. However, the condo market is definitely not experiencing parallel activity. Only six of the 62 units sold traded hands for more than 25% over asking.

Houses on the west side made a strong overbidding showing this month. Thirteen of those 18 houses sold for 25% or more above the list price were located in the Sunset, Parkside, Richmond and Golden Gate Heights. Buyers for the tenant-occupied house on Capp at 22nd Street in the Mission paid $1M in cash for what’s presumably a development opportunity.

Here’s how things have gone so far in August 2015:

Extreme Overbidding (25%+ over asking)
Houses:
763 36th Ave / Outer Richmond
List Price: $788,038 / Sale Price: $985,000 (25%)

554 45th Ave / Outer Richmond
$1,125,000 / $1,500,000 (33%)

2080 14th Ave / Golden Gate Heights
$899,000 / $1,302,080 (45%)Continue Reading

Five Things That Can Shrink a Condo’s Buyer Pool

Certain things about a building or homeowners association (HOA) can seriously shrink a condo’s buyer pool. In the end, getting multiple offers on a property is directly linked to how many buyers are interested. I’ve rounded up five of the most common things that present challenges in a sale. If you’re planning to sell your condo this year, make sure you’re prepared to handle buyer objections when it comes to these factors:

1. Very high HOA dues. There’s a reason this is listed at number one. Many buyers balk at paying upwards of $500 a month in HOA dues. Of course, some are willing to pay a bit more if, say, the fitness facilities would replace their current gym membership. The reality is that if you’re living in a large building, the operating costs are simply higher, from paying for that 24-hour concierge to maintaining elevators, common areas, pools and roof decks. I’m seeing more buyers filtering their searches with maximum HOA dues amounts. From a seller’s standpoint, there’s not a lot that can be done about high HOA dues. However, it’s sometimes worth offering to pay a year’s worth of HOA dues, for example, as part of the deal.Continue Reading

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

Here are my picks for upcoming and off-market listings this week:

147 Day #4 / Noe Valley
1BR/1BA top-floor condo, 1 pkg
$749,000

1670 Kirkwood / Bayview
Two 3BR/2BA flats, built 2001, 2 pkg
$899,000

1562 Portola / West Portal
3BR+/2.5BA, 2777 sq ft Craftsman house
$1,695,000

471 Munich / Excelsior
3BR/1.5BA barrel front house + inlaw unit, 1 pkg
Price TBDContinue Reading

What You Can Buy in the Center of It All

San Francisco home buyers typically want to purchase a property that’s near restaurants, cafes, bars, services and transportation. For those buyers who really want to be in the middle of everything, I’ve selected six currently available properties that I think would do the trick—in a variety of distinct neighborhoods.

You can expect to pay roughly $1,000-$1,300/square foot for homes with all the amenities in popular locations like these.

Here are some properties worth considering:

207 King #706 / Mission Bay
3BR/2.5BA, 1872 sq feet, 1 pkg
$2,195,000
207king_706
If you literally would like AT&T Park and the Giants in your backyard, 207 King #706 at The Glassworks will grant you that privilege. This sexy and spacious, loft-like penthouse spans two levels. It has three large bedrooms, an office space, and plenty of closets. Gaze through your wall of windows and take in the city and water view. Central air and in-unit laundry are also on hand, along with generous storage. Glassworks was constructed in 2007 and is in the midst of Mission Bay’s restaurants, nightlife, cafes and the Caltrain station.Continue Reading

Coming Soon and Off-Market Opportunities: August 7, 2015

Here are my picks for upcoming and off-market listings this week:

43-45 Fair / Bernal Heights
Two units, cosmetic fixer
$1,700,000

607 Shotwell / Mission
1BR/1BA TIC with no parking, four-unit building
$499,000

2905 Bush / Lower Pac Heights
3BR/3BA Victorian house with legal garden apartment–technically two units
$2,849,000Continue Reading

Precita Park Tops Bernal’s Microhoods in 2015

Precita Park Tops Bernal’s Microhoods in 2015

I unveiled my Bernal Heights microhoods more than a year ago, and the post inspired local blog favorite Bernalwood to create its own more humorous, cartoonish microhood map—not to mention inspired a few real estate agent marketing pieces that you may have seen around town lately.

But if you know Bernal and are a serious buyer or future seller, you’ll know that the microhoods I carved out last year will give you the most accurate sense of neighborhood values.

All the microhoods have made substantial jumps in their sales price averages since my initial post in March 2014. But the biggest boost belongs to Precita Park, which has basically exploded over the past year. The Precita Park microhood now carries an average sale price of $2,203,857.

It’s a good time for an update on how home prices are doing in each microhood. (Note: All 2015 numbers are based on the time period April-July 2015; the 2014 averages referenced in my initial post are based on sales that took place from September 2013-March 2014.)

North West Slope
Average Price: 2014: $1,195,589 / 2015: $1,498,146
Price Increase: 25%
northwestslope
The North West Slope has been going strong these days. Of the 15 homes sold, five sold for more than $1.5M. There were two cash sales, including the one at 52 Mirabel, which was the most expensive home sold in the past few months at $2,625,000. Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

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