Monthly Archives: July 2012

House & Condo Prices Rise, TIC Market Picks Up

Yes, it’s true. Single-family home and condo sales are up 11% in the past six months, with days on market decreasing to 11.5% and 22%, respectively. Good news for those property owners who are thinking of putting their homes on the market in the Fall.

This week’s MarketTracker Report takes a look at these stats, as well as the slow and steady rise of the TIC market. We also highlight three cool TICs and turn the spotlight on NoPa so you can get a sense for what this North Panhandle neighborhood offers.

Plus, the most recent citywide sales and more! It’s all here in the Zephyr MarketTracker.

Calling All Sweat Equity Buyers: West Portal Project for Ya

Calling All Sweat Equity Buyers: West Portal Project for Ya

For buyers looking for a well-located house that would allow them to make improvements and increase value over time, 72 Allston Way in West Portal is a good prospect.

Listed at $675,000, the 2BR/1BA house was built in 1922 and has its original kitchen and bath. The split-level floor plan provides nice separation of living and sleeping space, and two large bedrooms are at the rear of the property. Both feature large closets and bay windows. The split bathroom —toilet in one room, sink and shower in the other—has the original octagonal flooring and tile. There’s a large deck overlooking the garden, which could use your landscaping creativity. The roof has recently been replaced, so knock off about $12,000 from the improvement list.

It’s likely the house will sell for more than its list price, given recent market patterns.

Open Saturday July 28 and Sunday July 29 from 2:00-4:00.

I Liked Armistead Maupin’s Parnassus Heights House

I Liked Armistead Maupin’s Parnassus Heights House

I have two sets of buyers who would probably like author Armistead Maupin’s charming shingled home at 27 Belmont in Parnassus Heights. (And I read and enjoyed The Night Listener, which was written at Belmont.) So I couldn’t miss seeing the property on broker tour yesterday.

Listed at $1,198,000, 27 Belmont is a 3BR/2BA home with about 1600 square feet across three levels. It’s not ideal for a family, but for buyers looking for a nice master suite, lovely outdoor areas and downtown views, the house works well. There are actually two master suites, one on the second level and one at the very top. The kitchen is on the small side, but nicely done. The home definitely provides the peace and quiet an author would need.

What will 27 Belmont sell for? My guess is that the views, charming and unique setting and celebrity cache will send the selling price soaring above the seemingly low $1,198,000 list price.

High Rents Spur Interest in Investment Property

With San Francisco rental prices having increased 15% from last year, interest in purchasing investment property is rising. The latest Zephyr MarketTracker takes a look at recent developments in this segment of the market.

There’s also info on how you may still be able to get a deal by considering properties that have been sitting on the market a while, and the latest deets behind parking fines in San Francisco.

It’s all here along with the latest sales data in this edition of MarketTracker.

Let’s Avoid Real Estate Bubble 2.0

Let’s Avoid Real Estate Bubble 2.0

The San Francisco market has really kicked into high gear over the past three months. Buyers are coming out of the woodwork, and to be honest, they’re creating a sense of desperation from which sellers are seriously benefiting. A variety of factors that you’ve undoubtedly read about in the media is contributing to this sudden real estate boom—tech job sector growth, astronomical rents, the Facebook IPO, rising consumer confidence. You name it, it’s fueling buyer willingness to lean more on emotions (and fear) and “write high.”

One recent example is 33 Henry (above), a modest 2BR/1BA first-floor condo with less than 1,000 square feet and tandem parking on a nice block in Duboce Triangle that was listed for $699,000 about a week ago. 25 offers later, the unit is reportedly in contract for above $800,000. Continue Reading

Offset Your Mortgage in a Multi-Unit Building

For buyers who are looking for a home in a centrally located neighborhood, an excellent option is to owner occupy a flat in a multi-unit building and rent out the other units. That’s how I was able to afford to purchase my own property in Noe Valley in 1998; renting out the lower flat afforded us the opportunity to own our home, as well as have a long-term income stream. I’ve had several clients purchase such properties this year, and the purchase price could often be workable when you have at least 20% down and factor in projected/existing rents. And the presently hot rental market is certainly making this housing option more appealing. Continue Reading

The Real Estate Boom is Back

It’s a good time to officially acknowledge what’s been going on in our local real estate market, now that we have the first half of 2012 in the bag.

The San Francisco market has intensified since earlier this year, with buyers experiencing multiple-offer situations and properties going into contract within days of hitting the market. Continued job growth in the tech sector and historically low interest rates are fueling this activity, and there’s a palpable optimism out there that didn’t exist in 2011. The competitive market is most suited to buyers who are consistently looking at properties and actively writing offers which are frequently above the list price. Continue Reading

What You Can Buy In: Potrero Hill

What You Can Buy In: Potrero Hill

Boasting great weather and views from the top of many of its hills, Potrero is one of the most popular neighborhoods in the city. It’s admittedly not as central as some other areas, as it is situated in the east end of town. However, there are two cute retail/restaurant strips on 18th and 20th Streets, a Whole Foods and the design district nearby, as well as proximity to 280 and the Third Street rail to downtown. In the end, Potrero is better connected to the rest of San Francisco than people may give it credit for. Continue Reading

Just Sold: 380 14th #504 in The Mission

Just Sold: 380 14th #504 in The Mission

My client just closed on a beautiful 2BR/2BA condo at 380 14th Street, otherwise known as 299 Valencia in the Mission. #504 boasts sunny southern exposure and views of downtown and the San Francisco hills. It also has lovely finishes such as CaesarStone counters, stainless-steel appliances, and wood floors. Included are in-unit washer/dryer, one-car parking and storage room. List price: $840,000.

It seems like every other day there’s a new business setting up shop along Valencia, so my client is thrilled to be moving to such a convenient location.

Get in touch:

Eileen Bermingham

Zephyr Real Estate


BRE# 01352627

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