Monthly Archives: February 2011

Properties In Contract on the Upswing

The sale last week of  the 2BR/2BA condo at 3721 21st Street in Liberty Hill was a good example of what’s happening in San Francisco at the moment. On the market for just under two weeks, the $1,249,000 property went into contract and closed at its asking price. Whether or not there was a lot of negotiation or haggling isn’t the point; the fact is that the seller commanded a nice price for a 2BR unit (albeit with views)–and there was a buyer right on hand to purchase the property.Continue Reading

Lovin’ The Russian Hill Cul-de-Sac Condo With Killer Views

Lovin’ The Russian Hill Cul-de-Sac Condo With Killer Views

This unassuming exterior belies the major views within 31 Grenard Terrace, a lovely condo on a cul-de-sac in Russian Hill. And who doesn’t love cul-de-sacs? They tend to be more quiet and private, and traffic is limited to nearby residents or the occasional driver making a u-turn.

I’m spotlighting 31 Grenard because it’s got two levels, overall decent space and parking. You get 1500 or so square feet, three bedrooms and 2.5 baths. HOA dues for this unit are $300/mo.

Two of the bedrooms are on the lower level, which tends to keep the price down a bit. But it’s best to keep the focus on the more positive attributes, such as this deck:

31 Grenard last sold in 1997 for $815,000, so the current list price of $1.4M is more in line with today’s market. The average price for a 3BR condo in the neighborhood since January 2010 is $1,885,667.

Do Your Homework Up Front in Short Sales

Do Your Homework Up Front in Short Sales

“BOM” is shorthand for Back on Market, and several properties earned this status over the past week. Three of them started off as short sales, meaning that their sellers could very possibly be foreclosed upon if they’re unable to find new buyers.

I point this out because it’s key for buyers who make offers on short sales to do their homework up front, and understand the full scope of the short sale process.Continue Reading

7 Best ‘Hoods, North Beach Development Update

My latest MarketTracker report takes a look at the future residential project on Columbus in North Beach, as well as the latest on the Brannan Street wharf improvements. 

We’ve also included 7×7 Magazine’s popular Seven Best Neighborhoods (Most House for the Money in…NoPa?), and a drill down on citywide market trends!

Click here for the latest MarketTracker report.

Lender Trends See Buyers Scratching Heads

The real estate lending landscape has changed significantly in the past couple years. Lenders are girding themselves against fraud in many ways, and that trickles down to what sort of documentation they’ll request from buyers in transactions.

Two areas that have raised questions recently center around gift money and personal information requests. Our team at Guarantee Mortgage recently presented an explanation about the issues related to these topics, so I thought I’d share this very practical information with you.Continue Reading

Romantic European Hideaway for Valentine’s Day

There are few neighborhoods in San Francisco that inspire romance more than that of Russian Hill. So in honor of Valentine’s Day, I thought I’d spotlight a romantic Russian Hill home: The 2BR/2BA, 2,160-square foot unit at 1020 Union #7 has been on the market since last Fall. It’s currently being offered at $2,095,000, which may break a few buyers’ hearts. But for those in this price range who strongly desire Bay, Russian Hill and Alcatraz views from a walkout terrace (above), 1020 Union #7 will definitely do.

Union Terrace, one of my favorite Russian Hill developments, was constructed in 1921. It’s charmingly landscaped with terraced gardens and fountains:

#7 is a top-floor unit that has one of the largest and brightest floor plans. It features six skylights, a living room with fireplace and a formal dining room. You can also enjoy a library, family room, and direct access to the garage.  

So step out on to that terrace, take in the view, and consummate your home search with the perfect Valentine’s Day location. I’ll even throw in the wine and cheese and a chocolate heart if you hire me as your agent.

Update: Bernal Flip Definitely Not A Flop

Update: Bernal Flip Definitely Not A Flop

I recently spotlighted a home in Bernal Heights that had been sold in September 2010 for $590,000 and was quickly renovated and put back on the market in January for $849,000. There was substantial interest in the property, which surprised me, as most buyers tend to not want to pay for someone else’s renovations.

That sentiment is most definitely not in play these days. And a quick update: 3719 Folsom is now in contract for well above $900,000, and garnered ten offers. Keep it in mind as you shop for newly renovated homes in close proximity to the Cortland corridor. There’s a strong demand for this type of home, whether it’s being flipped or not.

Condo Conversion Can’t Come Soon Enough

The annual condo conversion lottery took place last week, with more than 2,000 property owners hoping that they’d win the right to convert their tenancy-in-common (TIC) interests to condos. However, under existing regulations, only 200 units were selected for conversion—leaving most owners out in the cold.Continue Reading

Diamond in the Rough for $2.4M

Diamond in the Rough for $2.4M

Where can one purchase a partially gutted, unfinished corner home with no heat and limited lighting in San Francisco for around $2M? Look no further than 620 Euclid Avenue in Jordan Park. The sale of the 7BR/6.5BA home with more than 7,000 square feet was listed in September 2010 for $3.1M. The property went into contract around Thanksgiving and closed this week for $2,437,000.Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

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