What You Need To Know About TIC Ownership

Many buyers are considering tenancy-in-common (TIC) units these days, given the cost of real estate in San Francisco. TICs are typically priced lower than condos, and you can generally get into a neighborhood that you might not be able to afford were the property a condo.

But before you run out to see that two-bedroom condo in Cole Valley listed for only $699,000 that you saw on Redfin, you need to know the TIC basics. Continue Reading

The Highs and Lows of SF Real Estate: April 2015 Edition

Our real estate market is moving at a brisk pace, so I thought it would be a good time to reflect on the least and most expensive houses and condos sold so far this month.

Single-Family Homes
Least Expensive House:
80 Seneca
Mission Terrace
80seneca_missionterrace
Listed for $499,000 and sold nine days later in a cash transaction for $555,000, 80 Seneca was the rare house for well under $1M in San Francisco. The 750-square foot property needs a “full rehab” and only has one bedroom. But with the average house price in the neighborhood holding steady at just over $1M, these buyers can do their renovation and most likely end up with a property that holds its value.Continue Reading

What You Risk When You Waive Contingencies

Inventory hasn’t kept up with buyer demand for a while now in San Francisco. That’s led to very competitive offer situations and high sale prices. Most multiple-offer situations end up with a handful of buyers waiving all contingencies (e.g., conditions of the sale) in order to make their offer as attractive as possible to the seller.

But do all buyers realize what’s at stake when they waive all contingencies? Sometimes I’m not so sure.Continue Reading

Another 5-Star Yelp Review from a Happy Seller!

It’s always gratifying to have happy clients at the end of a transaction. My latest unsolicited Yelp review comes from my client who recently sold her Eureka Valley condo (click on review to enlarge):

yelpreview_michelle

Please get in touch if you’re getting ready to sell your San Francisco property. I am ready to guide you through all phases of the process, from managing prep work to negotiating the best possible deal for you. I’m at 415.823.4656 / ebermingham@zephyrsf.com

Sales Volume Down, Prices Up in Q1 2015

The big news for the first quarter of 2015 is that sales volume dropped like a rock compared to Q4 2014.

But prices edged up even higher.

Bottom line: There were 41% fewer single-family home and 28% fewer condo sales in the first quarter of this year. Of course, the first quarter of any year is typically slower due to buyers and sellers recovering from the holidays. But given the frothy nature of the market right now, I would have expected a touch more volume.

Here’s a snapshot of how things went down in the two most popular segments of the real estate market:Continue Reading

Just Sold: Miraloma Park Charmer

Just Sold: Miraloma Park Charmer

I am happy to report that my clients were the successful buyers of an utterly charming 3BR/2BA house in what’s called “old” Miraloma Park. Tastefully remodeled and fully detached, 830 Rockdale has breakfast room views of Twin Peaks and the Marin Headlands. The lower level features a large family room and second bath, with direct access to the huge yard.

Listed for $1.1M, 830 Rockdale sold for $1.4M. Hats off to Marco Nevarez at First Republic for expertly guiding us through the loan process. And much thanks to listing agent John Beeney at Paragon and escrow officer Heather Shiffer at First American for their professionalism and ability to get things done.

My clients were gracious enough to refer me to friends of theirs who are currently interested in a home purchase. In doing so, they wrote this testimonial that I wanted to share. If you’re thinking of jumping into the San Francisco market this spring, please don’t hesitate to contact me!

“We have been tremendously impressed with everything Eileen has done for us. I’m not easily impressed, but I honestly think Eileen takes the long view and represents the best interests of her clients at every stage. She has lots of contacts…. the referrals she has given – insurance, loan brokers, etc – have all been excellent.

This was my first time buying a house in the US, and so I’ve had a lot of questions….Every single one, no matter how insignificant, she has patiently answered.

I whole-heartedly recommend Eileen as a guide through the crazy SF real estate market!”

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

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