If you’re a first-time home buyer looking for a nice space in San Francisco for up to $700,000, I’d like to suggest you consider a loft. Though not for everyone, lofts are great if you love open floor plans and nice light. Privacy can be an issue, as lofts usually don’t have walled-off rooms. But this property type is perfect for single professionals or couples who need good commute access to the Peninsula or downtown San Francisco.
Lofts are typically located in South of Market, the Mission, and the Central Waterfront (a.k.a., “Dogpatch”). South of Market and the Mission have been hit with higher short sale and foreclosure rates, so prices continue to decline in those neighborhoods.
Indeed, the average sale price for the 18 one-bedroom lofts that have sold since January 1st was $536,174, at an average of 1,073 square feet. With loft inventory not moving as quickly, buyers can expect to negotiate their way to the best deal possible. For example, there are presently 47 one-bedroom lofts on the market ranging in list price from $449,000 for a unit at Bluxome and 5th Street, all the way up to $995,000 for an 1896-square foot unit at the historic Hueblin building at 601 4th Street.
But a bulk of the 1BR lofts lies in the $500,000-$600,000 range, perfect for conforming loan amounts.
Amidst the cautious landscape of the current San Francisco real estate market erupts the offer outcome of 2018 21st Avenue at Pacheco. This 2BR/1.5BA home with two-car parking and bonus room down was listed at $699,000 on April 30th and is officially pending as of Sunday. (This means the buyers have removed any contractual conditions, and all that should be left is the loan funding.)
Check out 171 Caselli / 20 Yukon—two homes on one lot. 171 Caselli (above) is a 2BR/1BA home with its original bath and kitchen, a nice bonus room, and a huge garage.
Eighteen days after it was first put on the market, Mayor Newsom’s 
First listed back in March at $1,295,000, 714 Duncan sat on the market for a couple months before finding a prospect. This surprised me, as the four-bedroom, two-bath home with a two-car garage in Noe Valley seemed like a home that’d sell fairly quickly. I was even more surprised when there were no takers after subsequent price reductions left the price standing at $1,195,000.
If you’re house hunting online and a photo like the one above appears in connection with the garage, I’m hoping your antennae will go up. I won’t identify this particular home by address (hint: it was recently sold in the Outer Sunset), but I’m hoping the sellers had a good explanation for the pooling water.
This 3BR/2.75, 3271-square foot home at Sanchez and 21st came on the market in early May and slammed into contract by the end of last week.
What’s the first thing you do after you buy a $2.4M house in Noe Valley for all cash? Why, remodel, of course!
Within days of coming on the market at $586,575 last week, the 4BR/2BA 1930s home with 1766 square feet located at 1 Navajo, in Mission Terrace garnered more than 30 offers.
The latest unit to go on the market over at 455 Vallejo in the North Beach area is #111—a very lovely 1BR/1BA listed at $630,000.
The weather is great, the weekend promises to be just as good, so why not take a look at this dreamy, secluded Telegraph Hill home that just came on the market?
As Mayor Newsom and his new bride continue their house hunt for a single-family home, his penthouse at 1101 Green awaits a new owner. Listed at $2,995,000 twelve days ago, Newsom’s former bachelor pad hasn’t exactly attracted a feeding frenzy, despite its seller’s pedigree. Could the price be a tad high for a one-bedroom unit, despite the 1693 square feet shown in the tax records? No matter; the unit has a commanding, three-bridge view, and the interior was designed by noted architect Michael Agins. The unit was last purchased for $2,350,000 in February 2006.
One neighborhood that’s not exactly suffering in the economic downturn is Excelsior, in San Francisco’s southeastern area. Twenty-seven single-family homes have sold since January at an average of $517,459—generally considered to be quite affordable for first-time home buyers who prefer a house to a condo.
