Monthly Archives: October 2013

Luxury Home Buyers Land Cash Discounts—Finally

It’s been a while since we’ve seen substantial discounts on San Francisco luxury properties. Many have sold for over the list price, and in rapid-fire fashion. But I found three homes that sold for significantly under their list prices, and which were also paid for in cash.

This trio of homes had been on the market a while, which lends credence to my belief that you shouldn’t discount properties with lengthy days on market (DOM) if you’re…looking for a discount.Continue Reading

What You Can Buy: Houses in SoMa

The South of Market (SoMa) neighborhood in San Francisco’s southeast end is known for its lofts, multi-unit buildings and industrial/commercial spaces. On occasion, however, a single-family house goes on the market. Such unique properties are excellent for urban dwellers who want the privacy and space, as well as want to avoid monthly HOA dues and related issues. These houses, however, are a rarity; in the past three years, only six have sold.Continue Reading

SF’s Luxury Market Sticks to Seasonal Trends

SF’s Luxury Market Sticks to Seasonal Trends

The high-end, luxury market in San Francisco (sales of $2M+) hasn’t pulled any fast ones so far in 2013. As is typical for homes in this range, Spring and Fall have seen an increase in volume, with cash buyers unsurprisingly making their rounds.

A total of 269 houses sold citywide for $2M+ in the time period January 1-October 21, 2013. And buyers for 13 of those properties paid cash. Eight of the total homes sold changed hands for $10M+.

On the condo front, 93 units sold for $2M or more, with 24 selling in cash transactions. Continue Reading

5 Things You Should Know About Short Sales

Short sale volume has significantly declined over the past two years in the San Francisco market. But such sales are still popping up; I’m actually in the process of representing sellers on a short sale listing. And based on the questions I’ve been asked at my open houses, I think it might be a good time for a blog post for prospective home buyers about short sale basics.

Buyers and sellers both take on risks when they get involved with short sales. The seller risks having the short sale denied, or approved and then cancelled by the buyer. And the buyer risks waiting for short sale approval and then being informed that the sale won’t be approved by the seller’s lender(s).Continue Reading

1BR Houses a Popular Option for SF Buyers

1BR Houses a Popular Option for SF Buyers

In any other part of the country, a one-bedroom house would be scoffed at. But in San Francisco, such a property is viewed as a good condo alternative.

Buyers seeking a home in popular, centrally located neighborhoods for up to $1M are in a condo price range. That means shared walls, HOA dues, group decisions on building expenses, and shared or very limited outdoor space. But if you’re willing to sacrifice a second bedroom, a one-bedroom house can give you the privacy and exclusive outdoor space you need, and can also steer you clear of sometimes expensive HOA monthly fees.Continue Reading

Just Listed: 2BR Ingleside Charmer

Just Listed: 2BR Ingleside Charmer

My new 2BR/1BA single-family home listing at 231 Jules Avenue in up-and-coming Ingleside just hit the market. Featuring lovely 1920s detailing throughout, the home has a living room with wood-burning fireplace. The remodeled kitchen is well-appointed, with granite countertops, window atrium, and stainless-steel appliances. Two bedrooms are at the rear of the main level and overlook the garden, which has mature fruit trees and lawn with irrigation system.Continue Reading

Don’t Let Your Loan Get Shut Down, Too

The current government shutdown is certainly having its effect on the real estate industry. The main issue seems to be lenders’ individual policies on verifying borrowers’ tax return information—and how that verification can potentially shut down your loan during a home purchase.

The loan process typically requires buyers to complete a 4506-T tax verification transcript. However, the IRS is closed. And that means lenders are deciding how to handle this requirement.Continue Reading

Hot Sales in the City & Free Wi-Fi

San Francisco sales continue at a frenzied pace, with the pattern of listing low and selling high remaining intact. And our median price ranges are $827,250-$1,351,000 for condos, houses and two- to four-unit buildings.

We’re finally getting our free public wi-fi throughout San Francisco, due to a partnership with Google. And if you’re looking to lose your iPhone for a weekend in favor of a book, check out Litquake, a literary festival that takes place in mid October.

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

Up-and-Coming Ingleside A Good Bet for Buyers

Up-and-Coming Ingleside A Good Bet for Buyers

Nothing attracts home buyers more than a good, solid retail area that they can walk to from their new home. Consider all the wildly popular neighborhoods that have retail areas featuring hot restaurants, cafes, shops and services: Noe Valley, Hayes Valley, The Mission, Cole Valley, Cow Hollow, the Marina and the Inner Sunset, to name just a few. Buyers will pay dearly to be in walking distance of these strips, because if you can’t walk to anything, why live in San Francisco?Continue Reading

Get in touch:

Eileen Bermingham

Zephyr Real Estate

415.823.4656

ebermingham@zephyrsf.com

BRE# 01352627

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