Monthly Archives: April 2013

TIC Owners Await Condo Conversion Legislation Outcome

I’ve been contacted recently by many TIC owners, inquiring about my thoughts on what the legislation will mean for resale value related to their individual situations—which can vary widely. Some have been in the condo lottery for many years, others have rented out their TIC interest, and others have recently purchased an interest in a three-unit building but haven’t even entered the lottery yet.

The condo conversion legislation was initially introduced last year by Supervisors Scott Wiener and Mark Farrell. In response, tenants’ rights supporters voiced their opinions, which has led to Supervisors David Chiu and Norman Yee recently proposing several amendments designed to help reach a compromise.Continue Reading

What You Can Buy: SF Houses

There are many neighborhood and property options in San Francisco. Today we take a look at four new single-family homes listings in different price points and areas. For those kicking off a house hunt who aren’t terribly familiar with the many neighborhoods in the city, this is a great way to start getting a sense for what’s out there:Continue Reading

Good Value in Behind-the-Scenes Home Improvements

I meet with new buyer clients frequently who tell me they’re okay with “doing some work” and not paying for another owner’s remodel. And many times, that’s a sound plan when it comes to kitchens and bathrooms. After all, these renovations are typically pretty straightforward, and they provide an instant bang for the buck. Buy a house with a tired, 1940s kitchen and bath, tart them up, and you’ve added immediate value.

However, there are certain property upgrades that should be appreciated and valued more than I think they are in San Francisco. A chef’s kitchen with a CaesarStone counter and a slick, high-end soaking tub in the master suite are all fine and good. But what about an upgraded foundation–or a substantially repaired one? Or a new furnace/ductwork; roof; seismic upgrades; repaired dry rot/termite damage; upgraded plumbing and electrical? Though you can’t necessarily see these sorts of repairs in slick marketing photos, they’re important building components that need periodic attention.Continue Reading

Just Sold: Golden Gate Heights View Home

Just Sold: Golden Gate Heights View Home

This is only part of the view my clients now have from the living/dining rooms and kitchen of their 2BR/1BA home at 2085 14th Avenue. You can look out at the expansive Pacific Ocean, as well as all the hills and streets in between.

Listed at $749,000, the house is three blocks north of Taraval, with its Muni line and shops, and another five blocks or so to the West Portal retail area.

Nob Hill’s Marlow Launches Condo Pre-Sales

I visited the sales office for Marlow, the 98-unit condo development currently under construction at the corner of Van Ness and Clay in Nob Hill. The building will be move-in ready in early 2014, but the sales office has started selling units and already has ten units under contract.

Marlow is a mix of one- and two-bedroom units, as well as three-bedroom townhomes across eight stories. Floor plans include either units with or without dens, which is the main distinction.Continue Reading

Cash Sales All the Rage in San Francisco

Cash sales became commonplace in San Francisco in 2012, and they show no signs of slowing down this year. (See “Cash Sales Soared in 2012.“)

A look at all the reported cash sales from January 1-April 8, 2013 reveals that almost a quarter of all single-family home and condo sales were cash transactions. That’s a somewhat stunning percentage, and makes a huge statement about where people are putting their money.Continue Reading

Seller’s Market Continues in San Francisco

The real estate market in San Francisco has been bouncing off the walls since late 2012, and we’re officially in a seller’s market. Buyers are pulling their hair out in multiple-offer situations, and sellers are wondering if prices will increase as 2013 wears on.

We now have three months’ worth of sales to analyze, and that data indicates that prices are up as much as 6% over the past 180 days, particularly in the single-family home and condo markets. Indeed, the average price for a house in the city was $1,163,261 in the first quarter of 2013, and $897,278 for a condo. TICs sold at an average of $758,244 per interest.Continue Reading

Update: ICON’s Floor Plans, VIP Loan Preapproval

One of the more anticipated Market Street condo developments at 2299 Market, ICON, is now welcoming loan preapprovals for its units. Though the sales office is not yet open and the project is still under construction, you can complete a preapproval with the development’s in-house lender. This will certainly launch you to the top of the VIP list when it comes to purchasing one of the 18 one- and two-bedroom condos that will be available.Continue Reading

SF Property Taxes Due This Week!

You’re trying to juggle all the moving parts in your life, and suddenly you realize that your property tax bill has been sitting in a pile in the office for the past several weeks. Yikes.

Because the second installment of San Francisco property taxes is due by 5PM on April 10th. If the city doesn’t receive your payment by then, you’ll be considered delinquent.

You can pay your property taxes online, but keep in mind there’s a 2.25% fee. So if you cut that check this week and postmark it by midnight on April 10th, you’ll be safe.

If you’re a new homeowner, you should be aware that there’s no foolin’ around when it comes to property taxes. If left unpaid, they quickly become a lien on your home.

For more on paying your property taxes, visit the Office of the Treasurer’s Web site.

Short-Term, Furnished Rentals Good Seller Pit Stops

I’ve met recently with a number of homeowners who are considering selling their properties, but don’t know where they’ll be able to buy next. Though they know they’ll do extremely well in the current market with the sale of their property, they’re nervous about competing with buyers to purchase their next place.

Here’s a suggestion that will work for these potential sellers: Rent a short-term, furnished rental. There are actually quite a number of these available at any given time, in all parts of The Bay Area. (Short-term, unfurnished rentals are more of a challenge to find, given the demand for long-term apartment leases.)Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

Back to Top

Back to Top

Show All
Marina
Mission