Monthly Archives: August 2012

432 Ivy in Hayes Valley: Already $200,000 Cheaper!

432 Ivy in Hayes Valley: Already $200,000 Cheaper!

Recently marketed “pre-MLS”–seemingly a trend these days–the 3BR/2.5BA Edwardian at 432 Ivy in Hayes Valley floated an off-market list price of $1.5M.

Situated on a small street smack dab in the middle of Hayes Valley, 432 Ivy features all three bedrooms upstairs, which includes a master suite. All the architectural details are there, from the wood-burning fireplace to the built-in cabinetry, coved ceilings and crown moldings. There’s even a deck and small garden, along with a garage that can fit two cars.

The official, on-market price? $1,295,000. Between the more palatable list price and the 98 Walk Score/100 Transit Score, I’m guessing 432 Ivy will be in contract before its first open house on September 4th. If you’re an interested buyer who’s not represented by an agent, feel free to contact me at 415.823.4656/ebermingham@zephyrsf.com and I’ll arrange a showing for us!

Tall Taxes on Tap for Short Sales in 2013

Pursuing a short sale could soon be much more taxing for homeowners heading into 2013.

A short sale occurs when lenders forgive part of the loan debt (technically viewed as income, for tax purposes) and take less than they’re owed. The Mortgage Debt Relief Act of 2007 has been allowing home sellers to exclude up to $2M of this debt/income on their principal residence since 2007. Debt related to a loan modification, as well as a foreclosure, has also qualified for the exclusion.Continue Reading

Highs & Lows of SF Real Estate: Eureka Valley

Though many tales you may be hearing about San Francisco real estate lately involve outrageous selling prices and aggressive multiple-offer situations, there are also plenty of stories involving under-asking sales. I thought I’d profile two sales at opposite ends of the spectrum that occurred within about six blocks of each other in the popular Eureka Valley neighborhood:Continue Reading

San Francisco Hits Four-Year Low in Inventory Levels

If you’re a San Francisco homeowner who’s considering selling your property in the next few months, here’s some motivation for you: San Francisco continues to experience low inventory levels. Buyers continue to flock to properties as if there were fire sales going on, and don’t seem to be averse to paying more than they would have paid last year. And it doesn’t look like this activity level will abate anytime soon.

I wanted to post this nifty chart that tracks inventory levels from July 2010 to July 2012. As you can see, we’re at a four-year low where inventory is concerned:Continue Reading

Outer Sunset Townhome Tempts First-Time Buyers

Outer Sunset Townhome Tempts First-Time Buyers

The standalone one-bedroom condo/townhome at 4431 Kirkham at 48th Avenue in the Outer Sunset may be small at 560 square feet. But how many condos are available that don’t share walls and are part of an association that only consists of two side-by-side homes?

4431 Kirkham is half a block from Ocean Beach, as well as the N Judah stop. The property has a cute front garden that creates a nice curb appeal. The main level has a living space and upgraded chef’s kitchen, and the bedroom is upstairs. You have your own private rear garden. List price: $399,000.

Please contact me if you’d like to see Kirkham. My guess is that the property won’t be on the market for very long.

Stately Parnassus Heights Home a Cool Find

Stately Parnassus Heights Home a Cool Find

It’s a challenge to find a nice single-family home for sale in a centrally located neighborhood these days that hasn’t already gone into contract within the first 48 hours of going on the market. So when I come across an available property that’s waiting for the right buyer and offers lovely period detail, plenty of living and sleeping space and parking, I feel the need to give that home a shout out.Continue Reading

What You Can Buy in SoMa

South of Market is a popular neighborhood for young professionals looking for proximity to freeways, downtown and nightlife. Here’s a look at three hot properties that just hit the market. I sold condos in two of these buildings in the past, and can vouch for my clients’ satisfaction in both cases:Continue Reading

Inventory Still Tight in SF Market

Buyers are still flooding the San Francisco market like there’s no tomorrow, snapping up properties within days and paying well over the list price to get the properties they want. That’s because demand is high, and supply is low. And sellers are benefitting hugely from these conditions.

You can read more behind what’s happening in the Zephyr Quarterly Newsletter. Plus, some excellent community organizations will be sharing almost $1M in grants that will lead to some pretty nifty neighborhood improvements. And Ocean Beach is in for some future changes as part of its master plan.

It’s all here in the Zephyr Quarterly Newsletter.

How To Compete for Bank-Owned Properties

The past two years have ushered in an unprecedented number of bank-owned property sales in San Francisco. But actually purchasing one can be a challenge.

Competition among buyers in general for bank-owned homes is strong, because the perception exists that such properties are “deals.” In some cases, they are. But disclosures are minimal, and even with property inspections involved, there will always be information lacking (and appliances missing). And the reality is that many homes in this category end up selling at or around market value—especially those located in central, walkable locations. Paying market value for properties that offer little in the way of history or known issues doesn’t usually resonate well with buyers.Continue Reading

Check Building Permit Histories When You’re Buying

Was that room downstairs added with permits? Was the roof redone ten years ago with permits? Is the two-unit building you’re buying actually zoned as such?

These are the types of questions my clients are often faced with when considering purchasing a home in San Francisco. Properties here often have varied histories, and it’s important to know as much as you can.

One of the best tools for doing so is the city’s online permit site. The online history is useful when you’re doing preliminary research on a property you may be interested in purchasing.

Sellers are required to present a printed 3R Report from the Building Department that lists the permit history. However, that report takes weeks to arrive, and you want to do as much as you can to avoid surprises during escrow.

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

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