Monthly Archives: June 2013

Interest Rates Rise, Time to Update Your Loan Preapproval

There will be plenty of buyers attending open houses this weekend, despite a predicted lack of new inventory as we head into a holiday week. Some of you may have been recently preapproved for a loan. Others may have completed the process a month or two ago.

The big news this past week is that interest rates have increased significantly. If you’re about to write an offer, I recommend you contact your lender to revisit what your monthly payments will look like in conjunction with the latest interest rates. You may have been quoted 3.5% for a 30-year fixed loan a while back, but now you may be looking at upwards of 5% in today’s market.Continue Reading

Another Bubble Brewing for SF Real Estate?

The San Francisco real estate market continues to go gangbusters, and many people are wondering if we’re heading for another housing bubble. It wasn’t long ago that we experienced a housing boom in the city, only to see it break down from 2008-2011. And as buyers agree to pay crazy prices that comparative sales don’t support—waiving appraisal contingencies along the way—things start to feel, well, kind of creepy.Continue Reading

What You Can Buy: 1BR Houses

Small one-bedroom houses are sometimes good condo alternatives in San Francisco, particularly if they’re nicely remodeled and are in centrally located neighborhoods. Today we take a look at a trio of one-bedroom homes in popular areas of the city:Continue Reading

What You Need to Know About the SF Market

When I first meet with a buyer who’s new to the San Francisco real estate market, we discuss the realities of how our market is operating. Because unless you have a full understanding of what to expect, you could spend months wasting time—and not getting what you want.

We’re midway through 2013, so it’s a good time for a recap on what’s happening in our current market. Here are the things you need to know and navigate in order to be a successful buyer:Continue Reading

Condo Lottery Legislation Passes, High-End TICs Abound

The Board of Supervisors approved the controversial condo conversion lottery bypass this week, for better or for worse. Depending on whether you’re a homeowner or renter, you’ll be happy with the outcome.

Despite the shaky ground upon which some TICs stand, luxury TICs are out there and buyers are snapping them up. We take a look at a trio of high-end TICs that are worth considering.

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

Just Sold: 2BR Condo at BLU in Yerba Buena

Just Sold: 2BR Condo at BLU in Yerba Buena

My client just purchased a wonderful 2BR/2BA condo at BLU, the coveted luxury condo building at 631 Folsom at 2nd Street. Boasting city views, sleek finishes, and a 24-hour door person, #16E is one of only six residences its floor. Perks include air conditioning, washer/dryer, and one-car parking. BLU is located in the hot Yerba Buena/SoMa area, right near the Embarcadero, AT&T Park, a multitude of restaurants and cafes, and has excellent freeway access.

Special thanks to Cherolynn Vila at Wells Fargo for a fantastic job on our loan, as well as escrow officer extraordinaire, Nga Do Losacco at Fidelity National Title.

List price: $879,000.

How Many Offers Will It Take To Get Your Next Home?

The current market is rolling along with multiple offers and overbidding on a majority of homes in San Francisco. And many buyers are asking: How many offers do I need to write before I get my offer accepted?

I’ve heard some agents talk about having to write 10+ offers before their clients had one accepted. But all I can offer is my own experience and track record, which I thought I would share.Continue Reading

21 Days & Counting: What’s Not Selling Quickly

Most of the homes that hit the San Francisco market are in contract within a week or two, with multiple offers and an ultimate selling price of well over the list. However, there are actually properties sitting on the market that have somehow slipped through the cracks. If you’re a buyer on a budget and sick of complaining about how there’s no inventory, you may want to consider one of these single-family houses that has been on the market for 21 days or longer:Continue Reading

What You Need to Know About SF Property Taxes

If you’re considering purchasing a home in San Francisco, you should be aware of the fundamentals of property taxes before you sit down to sign your loan documents and complete your purchase. Property taxes are something you don’t really think about until you’re scrambling around trying to pay them on time.

So here’s what you need to know, in a nutshell:
Property taxes are based on a percentage of your home’s value. The property tax rate changes slightly each year. For example, for the tax year 2011-12, the rate was 1.1718%. But for 2012-13, it’s 1.1691%.Continue Reading

Interest Rates Low, SF Prices High

It’s no secret that San Francisco prices are increasingly higher. The current edition of the MarketTracker delivers all the key stats you’ll need to know if you’re an intrepid buyer or seller seeking to gauge the value of your property.

We also feature a piece on Golden Gate Park sculptures, along with a snapshot of the most recent sales in the city.

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

Get in touch:

Eileen Bermingham

Zephyr Real Estate


BRE# 01352627

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