Monthly Archives: November 2009

Cut Down Your Water Bills at Albion Castle

One of the few properties in the Bayview-Hunters Point area that isn’t going into foreclosure is over at 881 Innes. This former brewery—and later, water company—is now a 4BR/2BA home with 1,436 square feet and underground caves. It was reportedly built in 1870. List price is $2,950,000, and the property has been on the market since September.Continue Reading

Top 40 San Francisco Deals for 2009

Reside has just put together its Top 40 San Francisco transactions for the year. The list features the most opulent sales above $4M throughout the city.

My favorites: 300 Sea Cliff Avenue for $18M (rumored to have been purchased by everyone from Tom Cruise to Larry Ellison); 2510 Jackson for $11.5M; and 2430 Broadway for $9M.

A lot of real estate crystal ball holders are anticipating a much stronger 2010 for the luxury market.

Do-It-Yourself SoMa Penthouse Combo at 601 4th St

Two penthouses at 601 4th Street are currently on the market with the suggestion that someone purchase both for $2,313,000 and combine the units. (The small print also says that the listing agents can’t guarantee that you’ll be able to get approval for such a combo from the city or the HOA, but why sweat the details?)

You can buy them separately, of course, and 601 4th, also known as The Heublein Building, is one of the better loft properties in the neighborhood to consider. It was the first large loft development in the city.Continue Reading

Yours Truly Quoted in the NYTimes on FHA Loans in Expensive Areas

I had the opportunity recently to speak with New York Times reporter David Streitfeld, who was working on a story about FHA loans in high-priced cities. The piece is running today: With FHA Help, Easy Loans in Expensive Areas. (And I’m quoted!)

The upshot of the story is that there’s growing concern that FHA loans—particularly if the loan limits increase—could end up causing the next housing crisis. Streitfeld profiles three San Francisco buyers who got an FHA loan to purchase a two-unit building in Hayes Valley.

More Condo Lottery Craziness

Tickets for San Francisco’s annual condo lottery go on sale Monday. And there’s something you should know, as per my friends at Plan C: The City may be denying additional lottery tickets to buildings that qualify with the minimum qualifications. (Generally, this means one owner-occupied unit for each of the last three years in 2-4 unit buildings, and three owner-occupied units for each of the last three years in 5-6 unit buildings.)Continue Reading

Final Word on Federal Tax Credit

President Obama extended the $8,000 tax credit last week, allowing it to remain in effect through next spring. Based on several conversations and questions I’ve had and heard since then, there seems to be some confusion about the tax credit’s details.Continue Reading

Glen Park’s Latest Luxury Home Lands on the Market

Glen Park’s Latest Luxury Home Lands on the Market

The latest property to hit the market on the heels of a slew of Chenery Street listings is 337 Chenery.

The owners have added horizontal and vertical additions to the existing two-story building, as well as remodeled the existing spaces throughout. So now you’ve got a main level with a living room, dining room, family room and half bath; an upper level with 2BRs/2BAs (that includes one master suite); and a lower level with 2BRs/1BA. It all adds up to a total of 3,000 square feet with a list price of $1,749,000.Continue Reading

Yes, SF Home Prices are Improving–Thanks, Forbes!

It’s Forbes’ opinion that San Francisco home values are on track to increase 14.3% by 2011. On the flip side, they’re predicting an 8.3% drop in prices by next June. Apparently, we have to work through all our foreclosures before things start heading up.

But is this foreclosure wave really ever going to arrive—to the extent that all the buyers who’ve been waiting for “deals” on their centrally located dream houses in San Francisco are finally satisfied?Continue Reading

Another Noe Valley Flip Hits the Market

Another Noe Valley Flip Hits the Market

I’ve been watching the 1381 Sanchez renovation in Noe Valley between 27th St. & Cesar Chavez along my dog-walking route since the house changed hands as a fixer back in May 2008 for $1,005,000.

The price paid back then seemed reasonable for a future owner occupier to pay for the location, architectural style, and lot size.Continue Reading

A Sunny Day in Sherwood Forest

When it’s a sunny day citywide on broker tour Tuesdays, I make sure to check out some houses in the usually fog-ridden western part of the city. In Realtor terms, that means District 4.

So I headed over to crystal clear Sherwood Forest earlier this week. This is a neighborhood located just west of Mt. Davidson, and adjacent to West Portal, St. Francis Wood and Westwood Highlands. There’s admittedly not a lot going on in Sherwood Forest—just streets lined with single-family houses and owners who enjoy being in a quiet, low-key area.Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate


BRE# 01352627

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