Monthly Archives: October 2012

Save Money By Applying for Reduced “Flow Factor”

Do you have an irrigation system and are interested in saving money on your increasingly expensive San Francisco water bill? Consider applying for a reduced “flow factor.”

A big part of your water bill as a homeowner in San Francisco is the wastewater service charge that covers the cost of collecting, transporting, treating and disposing of each unit of wastewater discharged into the sewer system. The Water Department figures this out by multiplying your water consumption by an assigned “flow factor.”

The flow factor is the amount of water you use that’s actually returned to the sewer system as wastewater. The Water Department assumes the flow factor to be 90% for single-family homes and 95% for multi-unit buildings. Continue Reading

Foreclosures Slow, Shadow Inventory Declines

The good news keeps hitting the San Francisco real estate market. With prices up 13-16.5% over the prior 180 days in the single-family home, condo and multi-unit market, property owners have a lot to smile about.

And it seems like the foreclosure sales have tailed off a bit, as well as short sales.

Out in the neighborhoods, word is that street improvements are coming to Oak and Fell. And the tech shuttle map has been revealed!

It’s all here in this edition of the Zephyr MarketTracker.

State of the TIC Market: October 2012

A total of 144 TICs sold from June 1 – October 16th, 2012, with an average of 65 days on market and a median sales price of $602,000.

By comparison, more than 1100 condos sold in the same time period. Buyers obviously prefer condos, with the appeal being individual unit ownership and the availability of historically low, fixed-rate loans.

The most popular—and least risky types—of TIC sales are still occurring in two-unit buildings, as these properties have a much more direct path to condo conversion. After that, buyers appear to be open to TICs in three- to six-unit buildings offering fractional financing. (You can’t condo convert more than six units.) Continue Reading

Cash is King for Competition, Not Discounts

Cash buyers continue to infiltrate San Francisco’s competitive single-family home market. But those cash transactions aren’t necessarily translating into deep discounts. Instead, buyers seem to be using the cash advantage to simply win properties.

A total of 180 single-family homes sold over the past month, with 35 purchases made with cash as reported in the San Francisco Multiple Listing Service. Nine such transactions sold for less than the list price, one sold at asking, and 25 were over the asking price. It’s fair to say that many cash buyers are not looking for cut-rate prices on houses here. Buyers and their agents know that cash transactions provide a huge advantage because of the lack of complications connected to appraisals and loans. Continue Reading

Just Sold: 3BR Condo in The Haight

Just Sold: 3BR Condo in The Haight

I just represented the buyers at 1351 Page Street, a well-appointed and spacious 3BR/2BA condo on a prime block in The Haight. The remodeled kitchen is open to the living and dining areas, and adjacent to the fireplace. All bedrooms are in the rear of the condo, with a lovely master suite that overlooks the lovely shared yard. There’s an in-unit washer/dryer and one-car independent parking.

1351 Page is a block from the Panhandle, storied Haight Street, Golden Gate Park and multiple forms of public transportation. List price: $949,000.

Market Truly Heats Up In Third Quarter

The past quarter was inarguably the turning point for the San Francisco real estate market, with prices hitting year-to-date highs.

Buyer demand continued to increase, but housing inventory didn’t. As a result, most well-priced properties attracted multiple buyers, many with large down payments or all cash. A significant number of sales resulted in prices that were hundreds of thousands of dollars above list prices. As of this writing, single-family home prices were up 14.6% from the second quarter, with condo prices also increasing by 13.6%. Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate


BRE# 01352627

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