Sellers Search for Build-It-Yourself Buyers

Sellers Search for Build-It-Yourself Buyers

There are at least a dozen single-family homes on the market that are being sold with approved construction permits, architectural plans, or simply positioned as “opportunities to build your dream home.”

The trend in 2015? Hand off construction to buyers, who will hopefully pay a premium for lot value and approved (or unapproved) plans. In many cases, the owners (typically an LLC or contractor) may have more pressing projects and will agree to sell if the numbers add up. Or, in the case of those selling properties without approved plans, they may be anxious that today’s market won’t be quite as strong by the time they can get plans approved and the property built.Continue Reading

Noe Houses, Cow Hollow Condos Lead Pack in Price Per Square Foot

Heads up, San Francisco house hunters: If you’re looking to get into hot neighborhoods like Noe Valley, NoPa, and the Marina, be prepared to potentially pay more than $1,000/square foot.

Noe Valley has truly jumped the shark with its price per square foot average for single-family homes: It’s now just above $1400. And thanks to the new Amero condo development in Cow Hollow, that neighborhood’s price per square foot average leads the pack for condos in the city.Continue Reading

Good Deal: 115 San Pablo in St. Francis Wood

Good Deal: 115 San Pablo in St. Francis Wood

I was reviewing sales in Noe Valley today and came across the final selling price for 752 Elizabeth. This was a 3BR/2BA, 1440 square foot house with a two-car garage and cute garden that was listed for $1.5M. The seller received 17 offers, and the home sold for $2,150,000 in an all-cash transaction. (About half the offers were for cash, by the way.)

This kind of market activity tends to scare buyers off—and with good reason. The reality? Unless you have cash or a hefty down payment and can go into contract with no contingencies and a fast close, you can’t compete in high-demand neighborhoods like Noe Valley. A successful house hunt, as a result, will largely depend on how flexible you can be with respect to location and amenities. Continue Reading

New SF Residential Lease Available Now

The San Francisco Apartment Association (SFAA) recently released a brand new residential tenancy agreement that’s specific to rent laws in the city.

If you own a rental property and are planning to draw up a new lease, I highly recommend considering using the most updated rental agreement available.

One important update concerns roommates and master tenants—most specifically, that rent is to be paid by one tenant only. And if there is a change in roommates, the remaining tenant is solely responsible for the apartment.

There are also updates related to short-term rentals, pets, smoking, balconies/patios, maintenance and floor coverings.

Check out more details at the SFAA’s Web site!

Low Inventory Leads to Multiple Offers

The San Francisco real estate market is very competitive right now. I’m hearing anecdotes among my colleagues of crazy multiple-offer situations in the double digits—24 offers here, another 16 offers there. Unless you’re a buyer with all cash who catches on quickly, you’re writing offers on a routine basis and hoping a seller accepts one of them.Continue Reading

Summit 800 Takes Buyers To New Heights in Stonestown

Summit 800 Takes Buyers To New Heights in Stonestown

I checked in on progress at the new residential development called Summit 800 this week in the Stonestown area. Construction is fully under way, transforming a once barren hillside into San Francisco’s newest neighborhood.

Buyers for Summit 800 will appreciate the airy locale up on the hill, as well as the luxurious, almost opulent finishes in the townhomes and single-family houses. Developers Maracor and Comstock Homes have paid more attention to design and finishes than I’ve seen in the more cookie-cutter condo projects that have hit the city in the past couple years. There are no plain, white walls or minimal kitchen finishes here, and you also get a lot of square feet for the money. Think giant master suites with bathrooms the size of a San Francisco studio.Continue Reading

Trade-Offs for House Hunters in Trying Times

Trade-Offs for House Hunters in Trying Times

I came across this toilet in what’s known as a “split bath” in San Francisco recently. For those of you who aren’t familiar with our Victorian- and Edwardian-era architecture, the floor plan often features a bathroom where the shower/tub and sink are located in one room, and the toilet is situated on the other side of a wall, in its own closet.Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

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