Monthly Archives: November 2012

Call 311 To Keep Our Streets Clean

If you live in San Francisco, you know that graffiti and illegal dumping are two really common urban nuisances. San Francisco set up its 311 line several years ago so that people could report the mattress left on the corner, or the corner store’s newly tagged wall. And illegal dumping seems to reach a fever pitch around the holidays.

I like to remind everyone annually that it’s important to use the 311 resource to keep our streets clean and livable. Many times, I see a mattress or something else dumped on a corner, and no one doing anything about it. People think that someone else probably already reported the dumping. It actually takes a few seconds to call 311 and provide the location and description of the dumped item. (You can also send them a Tweet, too). The Department of Public Works (DPW) will take it from there. And they work weekends, too!

San Francisco’s 311 Center is also the go-to place for other random things you need, so check it out. Whether you’re a long-term renter or homeowner in the city, please do your part to make our city an even better place to be.

What Are the Resale Prospects for a 1BR Condo?

Yes, a two-bedroom condo is always preferable to a one bedroom. But what happens when you’re preapproved for a loan that puts you in one-bedroom territory? What livability and resale factors should you consider before you pursue what you can genuinely afford?

The average 1BR condo range citywide (excluding below-market-rate or senior-zoned units) was $618,996, in the time period from August-November 2012. The most popular neighborhoods where these sales took place were Eureka Valley, Pacific Heights, Downtown/Financial District, Nob/Russian Hills, the Van Ness corridor, Mission Bay, SoMa and South Beach.Continue Reading

Prices Up, DOM Down in San Francisco

Prices are up 11-15% across all property types over the past six months, and days on market (DOM) are down, according to the latest edition of the Zephyr MarketTracker. That means buyers should expect to move quickly, and it’s pretty obvious what to expect where price is concerned.

We also show you a snapshot of recent sales in San Francisco. Plus, news about Bay and Golden Gate Bridge changes, along with investor strategies and their affect on the market. But more importantly, we recap what voters have approved in Prop E and its implications for city taxes.

It’s all here in the latest Zephyr MarketTracker.

What You Can Buy in Cole Valley

What You Can Buy in Cole Valley

Cole Valley is an excellent option for buyers looking for a home that’s in proximity to public transportation, has a charming and useful retail area, and is near Golden Gate Park. The weather can be cold and foggy—though afternoons are sunny—and Cole Valley has a nice inventory of architecturally appealing single-family homes and multi-unit buildings.

The average price for a Cole Valley single-family home was $1,606,027 in the time period from June-November 2012, and the condo average was $991,500. That makes Cole Valley one of the more expensive neighborhoods in the city. The highest-priced condo was a new construction 3BR/2.5BA, three-level view home that sold for $1.5M in October, and two 3BR single-family homes sold for $2,175,000 over the summer.Continue Reading

Inventory Down, But Don’t Overlook Older Listings

It’s no secret that San Francisco housing inventory is pretty low right now. The above graph shows you how inventory levels have steadily decreased over the past two years.

So in one corner, we have prospective buyers out there who are feeling an urgent need to make a purchase, fueled by high rents and low mortgage rate. But in the other corner, we have a limited supply of homes to meet the need. What’s a buyer to do?

Answer: Don’t fall into the trap of only considering new listings. It may take a little more work and negotiating, but hunting down a home that’s been on the market for 30+ days may turn out to be the solution. With that in mind, I’m going to regularly feature trios of these types of listings across all property types and price ranges. Sometimes calling such listings to buyers’ attention gets the wheels turning.Continue Reading

Probate Primer for Home Buyers

If you’re a house buyer in San Francisco, you’ll eventually find a property you like that’s being sold through probate. These sales happen because there’s a death in a family and a will that needs to be resolved. A probate interprets the instructions of the deceased, and there is an executor appointed that handles affairs for the trustee.

When homes are being sold through probate without court confirmation, the process is fairly straightforward (with a few exceptions). However, when court confirmation is required, things get more complicated. Before you decide to pursue a property being sold in this manner, it’s important to understand what’s involved:

There will be a court date to approve the sale. A court date will be set to confirm a contract accepted by the trustee. The date is typically set about one- to two months from the time of offer acceptance (and contingency removal by the buyer). Continue Reading

Just Sold: Big, Beautiful Edwardian in Bernal

Just Sold: Big, Beautiful Edwardian in Bernal

My clients closed Friday on the 3BR/2BA, 1,950-square foot Edwardian at 343 Coleridge. The home features a living room with fireplace, remodeled eat-in kitchen, and paneled formal dining room.

All three bedrooms + sunroom are upstairs, and there’s also a lovely garden and large garage. 343 Coleridge is situated on a prime Bernal block, with excellent proximity to the Cortland retail area, as well as the services and new restaurants along the Mission corridor and Upper Noe. Walk Score: 95!

List price: $1,325,000.

5 Reasons Why Your Condo May Not Be Selling—And What You Can Do About It

There are currently 328 condos for sale in San Francisco. And 184 of them have been on the market for 30 days. It’s highly likely that these 184 sellers are wondering why their particular properties aren’t selling if the San Francisco market is so hot.

I reviewed the details of these 184 properties, and came away with the top five most frequent barriers to condo sales. I thought it might be helpful information for sellers to note, particularly if you’re planning to put your condo on the market soon.

These are issues that came up most frequently among the current listings, and which have traditionally been obstacles:Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

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